The Church of Ireland archbishops and bishops have issued a strongly-worded statement in advance of the G8 summit in Fermanagh calling for “alternative economic models beyond those of a particular form of financial capitalism”.
They pointed out that “Ireland, North and South, is experiencing extraordinary difficulties” adding that “ordinary people from both jurisdictions have felt the heavy weight of austerity economics, and are in desperate need of a positive vision to guide them into a secure future”.
'Warm welcome'
Extending "a very warm welcome" to G8 leaders and officials, they said "perhaps one of the strangest and saddest aspects of the world post-2008 [was] that governments, especially governments of wealthy countries, have not promoted serious discussion of alternative economic models beyond those of a particular form of financial capitalism".
Where banks in the Republic were concerned “heaven and earth were moved to secure survival, whereas clients have, by and large, been left to the operation of the market”.
In the Republic “perhaps the most widespread demoralising factor in the lives of ordinary people is a grave uncertainty over how mortgage arrears are to be dealt with.
Banking sector
"Regardless of what technical difficulties it may have involved, citizens can't help but draw a contrast between the treatment of the banking sector compared to the treatment of its clients."
Northern Ireland, despite the 1998 Belfast Agreement, was “not a significantly more integrated” society, while it was “ very far from clear how substantial progress can be made in this area”, they added.
More generally the archbishops and bishops said “levels of youth unemployment in wealthy countries is not only an economic disaster, it is also a moral tragedy.”
The summit takes place on June 17th and 18th.
