Caritas in Veritate is guide for redefining world economy, says bank president

Submitted by Vox Bikol on Tue, 08/18/2009 - 11:16

ROME, August 12, 2009-- The president of Etica Bank in Italy, Fabio Salviato, said this week that the new encyclical by Pope Benedict XVI, "Caritas in Veritate," is a guide for redefining the world economic system.

In an interview with Vatican Radio, the 51 year-old executive and author said the encyclical is a "guide that can enlighten us in this phase of individualization of a new economic and financial system."

He noted that the new encyclical calls for "a cultural change founded upon the centrality of the person."

"By responding to the needs of the person, fighting against poverty, and respecting the environment a redefinition of the economical financial system will emerge," he added.

"I believe the Holy Father has truly offered us not only a light but also a great gift, a guide for economic leaders," Salviato continued. "And not only for them but for all those who bear responsibility in the world of politics, finance and civil society. It is a cultural point of reference and directory, of almost a technical nature, on how to build, or rebuild, the new system after this crisis and these difficulties," he said. (CNA)