AUTHORITY with universal jurisdiction

''"Authority with universal jurisdiction. It would seem logical for the reform process to proceed with the United Nations." ''

====HOLY SEE CALLS FOR REFORM OF GLOBAL FINANCE VATICAN CITY, 24 OCT 2011 (VIS) - ====

====A note, "Towards reforming the international financial and monetary systems in the context of a global public authority", written by The Pontifical Council for Justice and Peace was presented at the Holy See Press Office press conference.The 'note', was part of a contribution "which might be useful for deliberations" of the G-20 summit meeting of heads of government, scheduled for early November in Cannes, France.The summit will be discussing finance issues and the global economy.==== According to the Justice and Peace Council secretary, Mario Toso S.D.B., the purpose of the note is to suggest paths to follow, "in line with the most recent social Magisterium" for implementing financial and monetary policies". In short, the Council proposes "that globalisation be regulated by a global public authority".

===Bishop Toso also spoke of the need for "a new global humanism, open to transcendence, ... an ethic of brotherhood and solidarity", that subordinates economy and finance " to politics, which is responsible for the common good" in order to overcome ideologies that place democratic institutions at risk.===

The council suggested political 'super parties ' be created through the reform of current international institutions, thereby placing them at the service of the "universal good" by offering guidance while still allowing countries, under the principle of "subsidiarity", to express and pursue their own common good in the context of the global common good.

Only in this way will international institutions manage to favour effective monetary and financial systems; in other words, free and stable markets regulated by an appropriate legal framework and working towards sustainable development and social progress for everyone."

"Such a global authority must see it's power as a form of service to its various member States" (subsidiaries), both in its power to lead and to deicide - and to impose penalties on the basis of the law, thereby ensuring that the states possess efficient markets.

Bishop Toso concluded by stressing the primacy of politics through ethics for the common good.

Translated text: Note on financial reform from the Pontifical Council for Justice

.http://www.news.va/en/news/full-text-note-on-financial-reform-from-the-pontif

http://www.news.va/en/news/holy-see-calls-for-reform-of-global-finance