Vatican City

Narrow wealth gap as well as spread says pope

Countries may go faster alone but farther together says Benedict

Narrow wealth gap as well as spread says pope

Vatican City, January 7 - European countries should try to narrow not just financial spreads on bond yields but also the widening gap in incomes and wealth as the economic crisis drags on, Pope Benedict XVI told the Vatican diplomatic corps Monday. As efforts continue to make borrowing-cost spreads from the German benchmark less of a burden on weaker economies like Italy and Spain, he said, countries should strive to increase "social wellbeing". Governments must tackle "growing differences between the few, ever richer, and the many, irredeemably poorer," Benedict said. Leaders must not resign themselves to "the social wellbeing spread as they fight the financial one". In the present phase of the economic crisis, "some countries may perhaps go faster on their own but together they they will certainly go farther".

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