ABC-elect Welby on banking reform; Plough Monday Prayers for farming; Resources for churches marking Holocaust Memorial Day; Media review
ABC-elect Welby on banking reform
The Archbishop-elect of Canterbury, Justin Welby, has an op-ed at Bloomberg.com on banking reform. He stresses “it isn’t regulations, but virtue and leadership embedded within corporate cultures” that is the foundation of reform:
I think a number of practical steps must be taken.
First, utility banking must be separated from investment banking. Utility banking should have utility returns and — like the provision of water, electricity and gas — should be regulated so as to ensure minimal risk and maximum effectiveness. Exactly where the boundary between these two forms of banking is drawn can be debated, but drawn it must be.
Second, I am deeply suspicious of the intensely complex regulatory structures that are emerging out of the crisis. They are well-intentioned, but impossible to operate. My own experience of heading a large organization in risky areas (in my case, a hospital) showed me that the more complex one makes the regulation, the less likely it is to be adhered to. The head of a major bank whom I interviewed recently told me they had 3,500 compliance staff and 900 lawyers. Good luck with that!
The reason I started out with the story of my own rescue from an ethical slip is that to me it demonstrates that it isn’t regulations, but virtue and leadership embedded within corporate cultures, that stops people from stumbling when under pressure.
Third, it seems essential to ensure that all those working in financial services have professional qualifications. In the U.K., anyone involved in managing other people’s money has to pass exams. This should be the same if they are dealing in foreign exchange, derivatives or proprietary trading for a bank. Qualifications in mathematics are not the same as qualifications that enable people to reflect on their own conduct and examine their own consciences as a matter of self-discipline, in the same way as they seek to balance their book at the end of a trading day.
There are no simple answers to the current crisis in banking, but there are simple principles. They come down to saying that financial services must serve society, and not rule it. They must be integrated into the economy, not semidetached. They must recognize human fallibility, not assume the effectiveness of human imagination.
As a member of the House of Lords, Bishop Welby sits on the U.K. Parliamentary Commission on Banking Standards.
http://www.bloomberg.com/news/2013-01-10/u-k-banks-must-lean-toward-virtue-rather-than-vice.html
Plough Monday Prayers for farming
The Church of England is encouraging Christian communities across the country to pray for farmers and those working in the rural economy. Special prayers have been published online to mark ‘Plough Monday’, traditionally the start of the agricultural year.
The Rt Revd Michael Langrish, Bishop of Exeter, said: “Farmers work incredibly hard producing our food often in difficult and challenging conditions, especially now when it has been so wet for such a long time. This is a good opportunity to take a moment to reflect and pray for the coming year, for our own production and for the fair distribution of food across the world.”
The prayers read:
Eternal God,
you crown the year with your goodness
and you give us the fruits of the earth in their season:
grant that we may use them to your glory,
for the relief of those in need and for our own well-being;
through Jesus Christ your Son our Lord,
who is alive and reigns with you,
in the unity of the Holy Spirit,
one God, now and for ever. Amen
God our Father,
you never cease the work you have begun
and prosper with your blessing all human labour:
make us wise and faithful stewards of your gifts
that we may serve the common good,
maintain the fabric of our world
and seek that justice where all may share
the good things you pour upon us;
through Jesus Christ your Son our Lord,
who is alive and reigns with you,
in the unity of the Holy Spirit,
one God, now and for ever. Amen
O God, who gives each of us work to do for your sake,
Bless this plough,
Together with the machines that enable us
To do our work upon the land,
And bless all those who use them:
Through Jesus Christ our Lord. Amen
Prosper throughout the year
The work done on our local farms.
Bless all who work with the world’s resources
And enable them to be good stewards of your creation;
Fulfil the farmer’s hopes in a plentiful harvest;
Feed your people with wholesome food;
And may town and country, united in gratitude to you,
Be drawn nearer to the understanding
And true service of each other;
Through Jesus Christ our Lord. Amen
Plough Monday is the traditional start of the farming year, and follows Plough Sunday, when many churches hold special services to pray for farmers and farming. Plough Sunday services are traditionally held on the first Sunday after Epiphany although some churches will mark Plough Sunday and Monday at a different time. For details of worship for seasons and festivals of the agricultural year, see http://www.churchofengland.org/media/41161/tsagyear.pdf.
Resources for churches marking Holocaust Memorial Day
The Council of Christians and Jews (CCJ) has created resources to help churches relate the themes of the Holocaust to their services.
Holocaust Memorial Day is marked around the world each year on 27 January.
The resources were produced in partnership with the Holocaust Memorial Day Trust and Churches Together in Britain and Ireland.
They include readings, prayers and commentaries related to this year’s theme, Communities Together: Build a Bridge.
CCJ chief executive the Reverend David Gifford spoke of the enduring importance of Holocaust Memorial Day as parts of the world continue to be affected by conflict.
“With the horrors of Syria and northern Nigeria in the news almost daily, the world still searches for more people to be bridge builders,” he said.
“Holocaust Memorial Day this year points very directly to the fact that our common future with reconciliation and peace in our communities will be a pipe dream unless courageous men and women take the risky and costly path of reaching out to those who are different from themselves.”
MEDIA REVIEW
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Mail Reports that the Duke of Cambridge, a future “Defender of Faith” only goes to church a “handful” of times a year.
http://www.dailymail.co.uk/news/article-2261908/Prince-William-church-handful-times-year.html?ito=feeds-newsxml
Times Short report previewing that results of cases regarding four Christian by the European Court of Human Rights, later in the week.
http://www.thetimes.co.uk/tto/law/article3656729.ece
Reports that more than 300,000 protestors marched through Paris demonstrating against President Hollande’s plan to “authorise” gay marriage”.
http://www.guardian.co.uk/world/2013/jan/13/anti-gay-marriage-protesters-paris http:
//www.bbc.co.uk/news/world-europe-21004322 http:
//www.dailymail.co.uk/news/article-2261766/Hundreds-thousands-streets-Paris-protest-Hollandes-plans-allow-gay-marriages-France.html?ito=feeds-newsxml http://online.wsj.com/article
/SB10001424127887324235104578239762349021402.html?mod=googlenews_wsj http://www.thetimes.co.uk/tto/news/world/europe/article3656557.ece
Comment (Christina Odone) and editorial on above.
http://www.thetimes.co.uk/tto/opinion/thunderer/article3656643.ece http://www.telegraph.co.uk/comment/9799756/Cameron-like-Henry-VIII-will-have-to-face-the-martyrs.html
Letters Times – Most Revd Dr Barry Morgan Church in Wales not consulted on same sex marriage decision
http://www.thetimes.co.uk/tto/opinion/letters/article3656362.ece
Mail News report “CofE plan to bless gay couples’ civil partnerships in church” with CofE quote explaining story ‘pure speculation’
http://www.dailymail.co.uk/news/article-2261537/CoE-plan-bless-gay-couples-civil-partnerships–But-told-solemn-declaration-remain-celibate-life.html
Mail on Sunday Leader “Praying for Calm” with ref to new Archbishop of Canterbury
http://www.dailymail.co.uk/debate/article-2261564/It-time-clarity-realism-EU-Cameron-promises-referendum-subject.html
Sun Exp Jimmy Young “strongly disagreeing” with Archbishop of York re a comment on China
http://www.express.co.uk/posts/view/370386/Communists-can-t-teach-us-everything-about-equality
Sun ”Sentamu’s Sunday Service ” column
http://www.archbishopofyork.org/articles.php/2789/john-the-baptist-the-greatest-support-act-ever
Sun Exp News report “Charles has no say on succession”
http://www.express.co.uk/posts/view/370433/Prince-Charles-has-no-say-on-succession
Mail on Sunday Article by Lord Carey headlined “Ex-Archbishop’s warning over crucial court cases” with ref to Tuesday’s expected European Court of Human Rights judgement over religious freedom issues
http://www.dailymail.co.uk/debate/article-2261559/This-faced-Government-let-mania-secular-rights-betray-Christians-right-wear-cross.html
Sun Tel News report “Christians face judgement day” with ref to Tuesday’s ruling from Strasburg
http://www.telegraph.co.uk/news/religion/9798013/Christians-face-judgement-day-in-Strasbourg-right-to-wear-the-cross-case.html http://www.telegraph.co.uk/comment/9798039/Christians-rights-Martyred-on-a-cross-of-secular-liberalism.html
Sun Tel – Mandrake column with ref to Rev Mary Bide becoming a chaplain to the Queen
http://www.telegraph.co.uk/news/politics/9797793/MP-Zac-Goldsmith-is-paid-peanuts.html