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Bodo Ellmers

04 Jun 2014 18:07:45

Representatives of the Global Jubilee Debt Relief Coalition visited the Vatican in Rome last month to discuss what to do about the global debt crisis. High and surging debt levels are causing economic and developmental problems once again. This time it’s a problem affecting every region of the world. The ethical dynamite of the ‘who owes whom and what and why’ is dividing humanity into creditors and debtors. A new Jubilee is long overdue. Breaking the chains of debt The Bible’s Old Testament describes a practice from the ancient world that could well be the world’s first insolvency regime. Every seven years, slaves and prisoners were to be freed, and debts were to be forgiven. This seventh year is called the Jubilee. Photo: The Jubilee delegation with Cardinal TurksonThe ...