Global Economics: The Vatican Weighs In

ACCRA, Ghana, APRIL 25, 2008 (Zenit.org).- The principles of solidarity and subsidiarity are the key to designing international rules and institutions that sustain development, the Holy See is proposing.

This idea was affirmed in a note for discussion sent by the Vatican Secretariat of State as part of the preparations of the 12th U.N. Conference on Trade and Development in Accra, which ended today.

The Holy See paper mentioned a "crisis of multilateralism," noting in particular two criticisms of international organizations.

"The first is the problem of representation, according to which the decision making power within these institutions is not allocated in an equitable way," it said. "The second criticism refers to the lack of grassroots involvement of the society in development-oriented initiatives undertaken by multilateral institutions. Such an approach presents the risk of formulating policy strategy that is not centered on the poor but rather on governments of poor countries."

After an analysis of the problems involved in trade and development, the Holy See took a look at "what can be done."

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