Pope, on Eve of G-8, Calls for New Order With ‘Real Teeth’

There is urgent need of a true world political authority - Pope Benedict XVI

By Flavia Krause-Jackson

July 7 (Bloomberg) -- Pope Benedict XVI called for a new financial order with “real teeth” as Group of Eight leaders prepare to discuss ways out of the worst recession since World War II.

“Profit is useful if it serves as a means toward an end,” he wrote in a letter to Catholic bishops worldwide published today. “Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty.” The encyclical, the third of his papacy, is entitled “Caritas in Veritate,” which in Latin means “charity in truth.”

See related article: Pope To Propose International Agreement on Globalisation

See also Pope calls for a UN 'with teeth'