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VATICAN CITY - Pope Benedict XVI has hit out at the United Nations in his new encyclical, Charity in Truth, issued Tuesday.

In the encyclical, his third since he became pope, Benedict called for a reform of the UN, economic institutions and international finance "so that the concept of the family of nations can acquire real teeth". In what appears to be a further rebuff to the UN's capabilities, the pontiff went on to suggest there is a need for a new world political authority that would be regulated by law, universally recognised and be vested with effective power to ensure security for all.

"To manage the global economy; to revive economies hit by the crisis; to avoid any deterioration of the present crisis and the greater imbalances that would result; to bring about integral and timely disarmament, food security and peace; to guarantee the protection of the environment and to regulate migration: for all this, there is urgent need of a true world political authority," he wrote.

Pope Benedict XVI also called for new ethical rules for global finance in his new encyclical, issued a day before a Group of Eight summit in Italy where leaders will discuss the global economic crisis, the pontiff said finance without ethics had derailed the real economy, provoking the crisis.

"Economy and finance, as instruments, can be used badly when those at the helm are motivated by purely selfish ends," he wrote. "Instruments that are good in themselves can thereby be transformed into harmful ones. "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," he said.

Benedict stressed that he did not oppose a globalised economy, which he said opened up "the unprecedented possibility of large-scale redistribution of wealth on a world-wide scale". "If badly directed, however, (it) can lead to an increase in poverty and inequality, and could even trigger a global crisis. "Every economic decision has a moral consequence," he said. (ANSAmed).
 

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