- Apr 7, 2020
The economic threat caused by a coronavirus-induced collapse in tourism is particularly existential for businesses operating near the Vatican, which are heavily dependent on the all-but-gone tourist trade, with many facing staggering losses that could force them to close their doors.
Speaking at a summit in Rome of some of the world’s most powerful financial officials, Pope Francis said the fact that five million children under five will die this year due to extreme poverty is something that should motivate the world to act.
Eric LeCompte, executive director of Jubilee USA Network, says when Pope Francis goes against “vulture funds,” and calls for a new economic model, it’s because he has first-hand experience of the financial crisis these institutions caused in his home country, Argentina.
Cardinal Peter Turkson, one of Pope Francis’s top advisors, said Tuesday that every time he goes to the United States, the pope’s social agenda is misinterpreted as adopting either a socialist or communist approach to the economy.