Pope hits out at financial speculators

2017-05-27 23:32
(Antonio Calanni, AP)

(Antonio Calanni, AP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Genoa - Pope Francis earned a rapturous reception on a visit to a struggling steel factory in northern Italy on Saturday as he denounced financial speculators and demanded dignity for working people.

"Without work for all there will not be dignity for all," the pontiff told several thousand uniformed and hard-hatted workers at the Ilva plant in the northwestern city of Genoa.

Maximum profits

"The progressive transformation of the entrepreneur into a speculator is an economic illness," he said. "The speculator is the same as a mercenary who has no company and sees workers only as a means to make profits".

The assembled gathering responded with applause and cries of "Francesco, Francesco" as the Argentinian pope blasted the "faceless" nature of parts of today's economy.

Taking questions from several of those gathered, including a CEO and an unemployed woman, Francis praised the honour and dignity of "the good worker" and the good boss who would share out the fruits of their respective labours.

He contrasted that with "speculators" who chase maximum profits at the expense of workers left on the scrapheap, while adding that there were "few greater joys than those experienced by working".

Francis called high levels of joblessness among young people as "mortgaging the future" of a generation.

"Without work one can survive, but to live you need work", he said.

At the same time, he criticised some sectors including the pornography and gambling industries.

Francis said he saw "democracy in crisis" in a working environment where many felt in thrall to a society which "sees only (the value of) consumption and does not understand the value of work and sweat".

New technologies

The heavily indebted Ilva group was brought under Italian state control two years ago, then nationalised in an attempt to cut losses and prevent job losses.

Rome is now mulling selling Ilva to steel giant ArcelorMittal, owned by Indian billionaire Lakshmi Mittal.

He also warned them about the dangers of new technologies. "Instead of informing you, they saturate you and your horisons shrink," he said.

Francis added that young people should take the time for contemplation in order "to make proper judgments" instead of just "eating what is served up to them on a plate".


Read more on:    pope francis  |  italy

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
/World
 

Makeover saves dog’s life

Lucky Charlie got a complete make-over that helped him get adopted.

 
 

Paws

For the love of Corgis!
Can we communicate with our pets?
8 great natural remedies for your pet
Buying a puppy? Don’t get scammed!
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.