» 11/12/2014, 00.00
Russia, the Patriarchate launches an “orthodox banking system against the ruble crisis
Archpriest Vsevolod Chaplin calls for greater study of ways to make the Russian economy less independent on "global centers of hostile influence " and create banks that operate with ethical principles, pointing to examples in Islam.
- The head of the Synodal Department for the
relationship between Church and society,
Archpriest Vsevolod Chaplin, is calling
for studies into ways to make the national economy
more independent and create an Orthodox banking system. He call comes at a time
when the Russians are beginning
to feel the effects of sanctions
and counter-sanctions caused by
the crisis in Ukraine. The
decisions of the international community have resulted in higher food prices and a drop in oil
prices: all causing a rapid
devaluation of the ruble.
The Moscow Patriarchate official says that the weakening currency is really
a media "bubble": "They say
that notorious crisis with ruble falling against dollar indicates the situation
in our economy. And who say it?" asked Chaplin, in a meeting with the Russian
Entrepreneurs club, which is part
of the World Russian People's Council which opened on 11 November. "We see that Russia's economy hasn't fallen for
the quarter, as much as the ruble fell. It means that someone tries to evaluate
us not according to the real state of our economy, but according to the rules
of 'information bubble,' which first puffs up than blows off".
The Archpriest condemns economic evaluations on Russia " in compliance with the rules,
under guidance and financed by foreign centers appear to be not quite
correlated with the reality."
" Thus there is a question: why can't we work out
our own criteria of evaluating our economy and its future?", proposed Chaplin. He urges to discuss how Russia can achieve
independence from managerial decisions and evaluations that "were invented
not by us, and against our rules," if it is possible not only to set up an
independent banking system, which enters in independent relations with certain
centers without mediating through foreign centers in New York or Hong Kong,
"but a system based on ethic principles".
The proposal is inspired by the Islamic
financial systems to establish an
"Orthodox banking system, without interest, with a
direct relationship with China, the Muslim world and other growing centers of influence in the world," suggested
the priest, according to which we must
give up currencies and economic
instruments that are "tied to realities
that are hostile to Russia".
The drop in oil prices since June, comes at a delicate
stage for the Russian economy, already
affected by a crisis of credibility at the international level,
which has resulted in the increasing
outflow of capital. There is also the
possibility of a tightening of
sanctions threatened by the EU
and the US, after the elections
of 26 October organized by the separatists in Eastern Ukraine,
backed by Moscow against
the will of the international community. According to recent surveys of the Levada Center, Russians have begun to feel
the negative effects of the embargo
imposed on certain categories of food imports from
countries that have introduced sanctions
against Moscow, but are willing
to put up with it "in
the name of a higher purpose" ,
that is, the defense of the country that
is being threatened by the West.
08/08/2014 RUSSIA - UKRAINE
Moscow Patriarchate welcomes Russian counter-sanctions
In response to punitive measures over the Ukrainian crisis, Russia yesterday imposed an import ban on fish, meat, fruit, vegetables and dairy product imports from the European Union and the United States. For the Orthodox Church, it is time to stop trying to meet "the standards of Western consumer."
Russia devalues ruble, squeezed by lower oil prices
It is the fifth devaluation since of November 11, and experts predict that it will fall even further over the next year. The exchange rate is also feeling the effects of the war in Georgia, and of the global crisis that has led foreigners to remove 200 billion dollars in investments.
07/03/2014 UKRAINE - RUSSIA
Crimea: Church and pro-Ukraine Crimeans demonstrate for peace
The Orthodox Metropolitan of Simferopol prays for Ukraine's territorial integrity. Crimean Muslims also demonstrate. Tensions persist between pro-Russia and pro-Ukraine Crimeans. As US and EU threaten Putin with financial sanctions if he does not accept negotiations with Ukraine, fears rise in the Baltic republics.
Chinese banks recapitalise as China follows in the footsteps of Greece
The recapitalisation of Chinese banks is a sign that a new, worldwide wave of insolvency is just around the corner. This time, Asia is on its path. If war should break out in the Persian Gulf or if BP goes bust, we could be in for a financial upheaval.
Inflation: China raises bank reserve ratio to 11 per cent
Move fails to convince everyone that inflation can be contained. Experts hope for higher interest rates. China’s banking system faces structural problems rooted in a high rate of unpaid loans.
Pope tells young people to remember the past, to have courage in the present and hope for the future
The Message for the 32nd World Youth Day was issued today centred on “The ‘great things’ that the Almighty accomplished’.” In her meeting with Elizabeth, Mary becomes a model. The pontiff calls on young people to avoid being couch potatoes, safe and cosy, urges them to rediscover the relationship with seniors. The Church experience is not a flash mob. The future should be experienced in a constructive way, and “the institutions of marriage, consecrated life and priestly mission” should not be devalued.
AsiaNews IS ALSO A MONTHLY!
AsiaNews monthly magazine (in Italian) is free.