And for our next story…

It is a message sent from on high to the world\’s financial and political elite. The Roman Catholic Church is calling for the effective closure of secretive tax havens as a \’necessary first step\’ to restore the global economy to health.

In a policy paper from the Holy See, Pope Benedict pins the blame for the international financial crisis largely on \’offshore centres\’, many of which, such as the Channel Islands, are British dependencies.

\’They have given support to imprudent economic and financial practices and have also played a significant role in the imbalances of development, allowing a gigantic flight of capital linked to tax evasion,\’ says the report. \’Offshore markets could also be linked to the recycling of profits from illegal activities.\’

And for our next story, Paul Krugman, the most recent Nobel Laureate* in economics, points out the basic and essential truth of transubstantiation. Accept no substitutes.


* Yes, we know, and we don\’t care**.

** Sverige Riksbank etc etc.


4 thoughts on “And for our next story…”

  1. Interesting to see that being issued, given that the MD of Goldman Sachs International (and also the chairman of BP and your alma mater the LSE) holds the office of ‘Consultor of the Extraordinary Section of the Administration of the Patrimony of the Apostolic See’.

  2. Compared to the good old days when the Vatican was a *real* financial and political power, today’s world seems delightfully benign and those naughty financiers sad amateurs.

  3. We all know what happened to the last pontiff who tangled with the vatican bankers.

    Something about Banco Ambrosiano, some other murdered bloke dangling under Blackfriars Bridge, and a coterie of suspects evading the police by hiding in vatican city. Oh yes, a whole load of missing money too.

    Then there was the whiff of complicity concerning the financing of Exocet missiles for the Argentine generals.

    Paedophile scandal… (One of the few “projects” from which the vatican ended up actually losing money.)

    So I guess Ratzinger ought to know quite a lot about corruption, avarice, and financial irregularities.

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