NEWS

Pope Francis: Why can't countries go bankrupt?

TAGS: Politics

Pope Francis says past Greek governments bear responsibility for accumulating the country's huge debt but asks if companies can get bankruptcy protection, why not countries?

When asked by reporters about Greece's financial situation before a deal was announced Monday, Francis said "certainly it would be too simple to say that the fault is only on one side."

Francis noted proposals at the United Nations to essentially let countries seek bankruptcy protection just like corporations. He asked "if a company can declare bankruptcy, why can't a country do so and we go to the aid of others?"

Bolivia, whose President Evo Morales hosted Francis during his three-nation South American tour, is reportedly pushing the proposal at the United Nations.

[AP]

Online