According to today's Guardian, the Catholic Church is calling for a "world authority" to regulate the financial markets.In a document snappily titled Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority, Vatican official Bishop Mario Toso argues that a "central world bank" would lead to "the primacy of the spiritual and of ethics" in international banking.
Who might be qualified to run this central bank, maintaining the strictest secrecy given its crucial but highly sensitive role in overseeing the world economy? Given the rivalry between the world's economic superpowers, where would its headquarters be sited? How to stop politicians interfering in its affairs for their own ends? If only there was a group of unelected politicians in a highly centralised State outside international institutions with centuries of experience in handling vast sums of money in complete secrecy...
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