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Pope challenges bankers to humanise economics

John Paul II has said that globalisation will only be humanised if it refocuses on the needs of the human person.

The Holy Father expressed this conviction on Saturday when he met with directors of Crédit Agricole, France's largest bank.

"The context of an ever more globalised economy obliges enterprises to conquer new markets, often adopting aggressive development strategies, linked to the imperatives of results and profitability," he said. "This economic logic generates scandalous inequalities among countries."

He said the international debt of poor countries is a major obstacle to their growth and prosperity because it compromises the local economy and the integral development of individuals, and endangers family life and the future of societies.

He continued: "I encourage you to base your decision on a Christian view of man and humanity, in order to contribute effectively to the construction of a world in which political and economic options truly respond to the most profound aspirations of new generations."