Eric LeCompte spoke with National Catholic Report on a recent Vatican high-level seminar where Pope Francis urged the creation of new global debt and tax policies that can reduce inequality and end. Read an excerpt below, and click here for the full story.
Pope Francis gets involved in Argentina's debt relief
Eric LeCompte, the leader of Jubilee USA, a network of religious and development groups that argue for international debt relief, praised Stiglitz's call.
"Bankruptcy is a big deal," LeCompte, one of those attending the Vatican conference, told NCR. "If we had it, Argentina would have experienced limited crises, if any, and vulture funds wouldn't have been able to swoop in."
"As speakers today note, a global bankruptcy process is vital to address inequality and support countries to exit debt crisis and financial crisis," he said.
LeCompte also praised the Vatican for hosting the event.
"The Holy See continues a history of leadership focusing on the structural issues that cause poverty and inequality with this seminar," he said. "It's why this event pulls together the highest level of global decision makers to work on the biggest economic challenges of our time — economic challenges that impact all of our lives almost as much as the oxygen we breathe."
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