Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Top Italian Cardinal Says Speculation Weakens State Sovereignty

Jan. 23 (Bloomberg) -- Italy’s top Roman Catholic cardinal said financial speculation has made politics “irrelevant” as global investors dictate policy, weakening the sovereignty of elected governments.

“When the highest, easiest and fastest profit is the goal, then profit is no longer right, but becomes an end in itself by playing with people’s lives,” Cardinal Angelo Bagnasco, head of Italy’s Bishops Conference, told the group in a speech in Rome today. “It’s not possible to live each day in the grip of invisible iron hands, voluptuously lording over the world.”

At the same time, Bagnasco called on Italian political parties to support efforts to overhaul the country’s economy and crack down on rampant tax evasion. “Tax evasion is a sin,” the cardinal said.

To contact the reporter on this story: Jeffrey Donovan at jdonovan26@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.