Financial Advisors Call For Debt Forgiveness In Europe

Christian Financial Advisors are calling for debt forgiveness – in order to end the crippling Eurozone debt crisis.

Christian Financial Advisors are calling for debt forgiveness – in order to end the crippling Eurozone debt crisis.

The Association of Christian Financial Advisers (ACFA), a UK network of Christian financial advisers and related professionals which aims to be the voice of Christian financial advice, says that debt forgiveness will help avoid greater hardship for the poor, and will bring an end to the reliance on other overburdened countries for bailout funds.

And the ACFA say that states must think again about how they are running their economies.

Arwyn Bailey of the ACFA said: "The nations of the world – it is now apparent ̶ are running their economies on a tank of debt.

“There have been strong calls from international aid organisations over many years for a total forgiveness of the debt of third world countries. Generally these calls have been met with a wall of platitudes and silence from western politicians.

"Few would ever have predicted that the same problem of national debt would become a crisis in the rich nations of the European continent, creating an ever-increasing reliance upon developing nations such as India and China for a continuing line of credit.

"As far as the Eurocentric countries such as Greece, Spain, Italy and Portugal are concerned, no-one has yet taken up the mantle of demanding debt forgiveness, despite the economies of these nations stumbling on in a similarly unsustainable position to a third-world country run by a dictator.

"It is also clear that the policy-makers are as uncertain today as ever as to what route they should take to get us out of this mess.

"A clear Biblical principle is to forgive debt in a year of 'jubilee'. Forgiveness may be out of favour these days, but it is a good principle ̶ one that politicians should perhaps take to heart in this economic crisis.

"Managed 'forgiveness' could yet prove to be the only long-term solution to containing the continuing crisis in the Eurozone and preventing the collapse of the currency.”