On December 16, 2024, Pope Francis addressed representatives, leaders, and employees from the Italian Banca Etica, the Cooperative Credit Bank of Abruzzi and Molise, and the Cooperative Credit Bank of Central Campania.
The Pope said to the bankers that this meeting gave them an opportunity to reflect on the potential and contradictions of today’s economy and finance. He also noted that in many cases, men and women committed to the ecclesial community have promoted and set up pawnshops, banks, cooperative credit institutions, and rural banks.
“The intention has always been to provide opportunities to those who otherwise had none. This is beautiful: to open the door of opportunity. It is very good.”
The Holy Father then presented an important idea: that the presence of the poor in the city is a sign of social sickness. He said that in such situations, it is banks that offer credit to those who could not obtain it, enabling many families to get back on their feet and integrate into the economic and social activities of the city.
The Holy Father went on to say that in the globalized world, finance is now faceless and distant from the life of the people.
“When the only criterion is profit, there are negative consequences for the real economy.”
The Holy Father further stated that when finance tramples people, foments inequalities, and distances itself from the life of the territories, it betrays its purpose.
“It becomes, I would say, an uncivil economy: it lacks civility.”
He reminded them that without adequate financial systems capable of including and promoting sustainability, there would be no integral human development. He emphasized that every time the economy and finance have a real impact on territories, on the civil or religious community, on families, it is a blessing for everyone.
He then said that the imminent Jubilee reminds us of the need to forgive debts.
“It is the condition for fostering hope and future in the life of many people, especially the poor. I encourage you to sow hope. Do not tire of accompanying and keeping the level of social justice high.”
He then expressed hope that they might be bearers of hope for many who turn to them seeking to get back on their feet after difficult periods.
