Financial Crisis ...

Thursday, July 14, 2011. Currently, the news are full of articles about the financial crisis. States like Ireland, Greece, Portugal and now Italy have problems to refinance their credits. The United States have a big problem as well.

How market's work …

It is very interesting to observe the market mechanisms which lead to the current problems. States had to borough money for many years to pay for what they wanted to pay (or thought they need to pay). At some point, lenders want their money back - so the state has to refinance the amount if it cannot pay it all back at once. But if the credit rating of the state has changed in the meantime, it has to pay much more interest for the money and it might be very expensive or impossible to get new cash from private firms.

Our financial system is a quite complex world with many dependencies. When banks lend money to someone, they are dependent on the rankings, since they have been forced to have sufficient securities for what they give. So there is a vicious circle for those who get into problems. First, they are in need. Then, the costs rise and as a consequence the needs rise as well … If someone helps them, the costs rise even more. That is not a system one would judge to be reasonable - but we all live with it since in some range it works fine.

We might and should ask how God sees our problems. What is his view into our financial turmoil, into the deep and far reaching problems which have been sweeping over the planet surface now already for many years, culminating into the current difficulties. How does God see it?

God's warning …

When we try to find out God's view, there is often an element of openness. God stated some things in a very clear and definite way. “You shall not steal”, for example, is a clear command. But when it comes to social processes, there are many points left to us to interpret his basic principles and work them out for our particular historical situation. It is needed to discuss things and bring the whole Christian community together to find a balanced position which incorporates what God is, what he said in the past and what he wants for us today and in the future.

The current crisis has evolved on the background of several deep social questions. There is politics and distribution of resources on the one hand. There are the processes to come to decisions in the political realm. Many states have deep problems here, and we all know the discussions between right and left, between poor and wealthy. Without some balance, there will not be a solution to the problems! And balance needs ethics and reasonable actions of many. We need to set clear frameworks to the markets on a global scale - that is a millennium challenge!

Jesus has often talked to HIS people. He has set standards which people should follow, who belong to him. In the Christian community, there should be reasonable prices, a chance for everyone, but also clear words when things go wrong. In his kingdom he asks us to listen to each other and help each other. Of course, this can still lead to many tough discussions about the right steps forward, but when we live with him, solutions will be found, there is no doubt about that. What ever happens, we can rely on his presence and his help in our situation. ... more texts