The Vatican did not call for a World Bank. A department within the Vatican released a “Note” offering guidance during this Global Financial Crisis.
Here’s the long answer:
2. This “Note” reflects Catholic Social Teaching offering guidance for the common good and this document has not been finalized. Meaning that some wording may change when the document is released completely.
3. The reference to a “world political authority” is a reference taken from the encyclical Caritas in Veritate that was mentioned just once and in a plea for “international cooperation”, not a “Central World Bank”. This idea of a “world political authority” was never fleshed out. I interpret this as a euphemism towards cooperation. The very next sentence after this reference the Pope emphasizes that this “world political authority” must “observe consistently the principles of subsidiarity and solidarity”. (William Donohue)
4. Subsidiarity meaning matters ought to be handled by the smallest, lowest or least centralized competent authority– not a giant central governmental agency.
5. In the encyclical Caritas in Veritate where “world political authority” is mentioned, Pope Benedict stressed that “subsidiarity is the most effective antidote against any form of all-encompassing welfare state”. Amen.
6. Bishop Mario Toso, the current Secretary of the Council that issued this “Note”, clarified that this “suggests possible paths to follow”. Notice the word “suggest”, the Church always proposes, not ever imposes.
7. This “Note” is an expansion of Pope Paul VI’s encyclical Populorum Progressio.
“The Church cannot and must not take upon herself the political battle to bring about the most just society possible. She cannot and must not replace the State. Yet at the same time she cannot and must not remain on the sidelines in the fight for justice. She has to play her part through rational argument and she has to reawaken the spiritual energy without which justice, which always demands sacrifice, cannot prevail and prosper. A just society must be the achievement of politics, not of the Church. Yet the promotion of justice through efforts to bring about openness of mind and will to the demands of the common good is something which concerns the Church deeply.”
9. Another way of describing this “Note” is as a “position paper” or “white paper”.
Well that pretty much wraps this issue up.
For some great articles dissecting this “Note”, click on ThePulp.it.
Update on my last post, Occupy Wall Street Desecrates Statue of Our Lady in Rome, two Masses for reparation to the desecration of the Virgin Mary were celebrated this past weekend.
Tito Edwards long journey towards his childhood faith has made him a devout and ardent Christian. He has responded to Blessed John Paul II’s and Pope Benedict XVI’s call to the New Evangelization by starting up and operating several Catholic websites such as ThePulp.it, VirtuousPla.net, Gulf Coast Catholic, and The American Catholic. He is also a regular contributor for the National Catholic Register. In his free time he reads the Holy Bible, is a member of the Legion of Mary, a member of Communion and Liberation, and is a mentor in Kids Hope USA.