World economy needs 'profound reform': Pope

15 Nov, 2010

Pope Benedict XVI on Sunday called for "profound reform" of the world economy in the wake of last week's G20 summit in Seoul, calling for a revival of agriculture to ensure sustainable development.
"The current economic crisis, which has been addressed in these days by the meeting of the G20, has to be taken with great seriousness," Benedict said in a weekly address to thousands of pilgrims in St. Peter's Square in the Vatican.
The crisis "sends a strong call for a profound reform of the global economic development model," he said, adding that top economies should not "chase advantageous alliances that could... have grave results for the poorest."
The pope also called for a revival of farming to help the victims of the global economic crisis and warned against "unsustainable consumerism."
"A strategic revival of agriculture appears crucial," Benedict said.
"I think the moment has come for a re-evaluation of agriculture not in a nostalgic sense but as an indispensable resource for the future," he added.

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