Pope Francis hits out at global 'cult of money'
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| Pope Francis said more ethical financial reforms were needed to release people from the tyranny of money |
Francis
Pope has urged world leaders to put an end to "the cult of money" and
to do more for the poor, in his first speech on the financial crisis.
Free market economy has created a tyranny, where people only valued by their ability to consume, The Diplomats told the pope at the Vatican.
"Money should serve, not to rule," he said, urging an ethical financial reform.
Meanwhile, the Vatican's own bank Announced it will publish an annual report for the first time.
Institute for Religious Works, roomates has been the center of many financial Scandals in recent years, is to hire an external accounting firm to Ensure it meets international standards against money laundering.
Bank will launch a website and publish an annual report in an effort to improve transparency, the new president said Ernst Freyberg.
The institute is Considered as one of the most closed in the world.'Golden calf'
Pope Francis said life has Become the worse for the people in both rich and poor countries, says the BBC's David Willey in Rome reports.
Free market economy has created a tyranny, where people only valued by their ability to consume, The Diplomats told the pope at the Vatican.
"Money should serve, not to rule," he said, urging an ethical financial reform.
Meanwhile, the Vatican's own bank Announced it will publish an annual report for the first time.
Institute for Religious Works, roomates has been the center of many financial Scandals in recent years, is to hire an external accounting firm to Ensure it meets international standards against money laundering.
Bank will launch a website and publish an annual report in an effort to improve transparency, the new president said Ernst Freyberg.
The institute is Considered as one of the most closed in the world.'Golden calf'
Pope Francis said life has Become the worse for the people in both rich and poor countries, says the BBC's David Willey in Rome reports.