Pope’s Economists Say Greek Crisis Shows New Euro Treaty Needed

[ultipal]

businessweek.com/news/2010-05-05/pope-s-economists-say-greek-crisis-shows-new-euro-treaty-needed.html

Vatican economists says the Greece crisis and the resulting market turmoil threatening to engulf the rest of southern Europe show the need for a “new treaty” to protect the 11-year-old euro.

The Vatican today hosted a special plenary session entitled “Crisis in a Global Economy: Re-planning the Journey,” featuring professors from the Pontifical Academy of Social Sciences founded Pope John Paul II.

The economists “addressed the recent package of relief measures, as well as the possibility that new European structures might be needed, not excluding the possibility of a new treaty to better secure the foundations of the common currency,” according to a Vatican statement.