Pope Francis denounced financial speculators

Vastavam web:Pope Francis earned a rapturous reception on a visit to a struggling steel factory in northern Italy today as he denounced financial speculators and demanded dignity for working people.”Without work for all there will not be dignity for all,” the pontiff told several thousand uniformed and hard-hatted workers at the Ilva plant in the northwestern city of Genoa.”The progressive transformation of the entrepreneur into a speculator is an economic illness,” he said. “The speculator is the same as a mercenary who has no company and sees workers only as a means to make profits.”

He contrasted that with “speculators” who chase maximum profits at the expense of workers left on the scrapheap, while adding that there were “few greater joys than those experienced by working.” For Francis, who called high joblessness among youth as “mortgaging the future” of a generation, “without work one can survive — but to live you need work.” At the same time, he criticized some sectors including the pornography and gambling industries.The heavily indebted Ilva group was brought under Italian state control two years ago, then nationalized it in an attempt to cut losses and prevent job losses.Rome is now mulling selling Ilva to steel giant ArcelorMittal, owned by Indian billionaire Lakshmi Mittal.