Bishop Addresses Finance Conference.
The Bishop of Durham The Right Revd Justin Welby addressed a conference of financiers in Zurich talking about the issues facing the financial community as it decides whether to 'Repair or Replace' existing systems of control.
In his address he talked about the destruction of Coventry Cathedral during the second world war, using it as an analogy of ruin faced by the financial system in the aftermath of the global financial crash.
He talked of his work as Bishop of Durham and the part that he is playing on the Banking Standards Commission in the House Of Lords which is tasked with looking at recommendations for a new banking act, itself deciding on 'Repair or Replacement'.
In concluding remarks to the conference he said: "At the moment clearly these are merely ideas in the mist. But one principle seems to me to be clear, we cannot repair what was destroyed in 2008, we can only replace it with something that is dedicated to the support of human society, to the common good and to solidarity. Financial services are crucial to human development, but they only do their job when the work they carry out is done in a way that is truly a service."
A full transcript of the talk can be read here:
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