Instead of bankruptcy, why don’t we have something like the Year of Jubilee as the Hebrews used to have? I think forgiveness would go farther than bankruptcy, with its association with shame, blame, etc.
By Sophia Har
The upcoming G7 summit focuses on global economic issues and conflicts in Ukraine and the Middle East. Pending international trade agreements and ongoing debt crises around the world will dominate the conversation.
“Debt, tax and trade issues will take center stage at this year’s meeting,” noted Eric LeCompte, Executive Director of the religious development organization Jubilee USA Network. LeCompte was in Dresden, Germany, for last week’s G7 Finance Ministers gathering. “It’s right that economic stability is a priority on the agenda. Inequality and poverty drive conflict and instability around the world.”
Prior to the summit, G7 Finance Ministers met in Dresden, Germany, to address debt and tax issues. During the finance minister meetings, Jubilee Germany organized a prayer service led by Dresden’s religious leaders that…
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Forgiveness would be wonderful if only those who have their debts forgiven learn from it and don’t go back into debt. I could just see the US repeating the same mistakes. For poorer countries it makes more sense to forgive debt than to send money to help them out while requiring them to pay back what they owe.
I wouldn’t know where to begin with this but I like your idea.