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In Christmas Message, German Churches Attack 'Greed Culture' | Germany | Deutsche Welle | 24.12.2008
In their Christmas message, Germany's Protestant and Catholic churches warned that "money has become God"and called for a return to non-materialistic values and urged bank managers to be more prudent. Wolfgang Huber, Germany's top Protestant Bishop, on Wednesday sharply criticized the strong profit-driven focus and "culture of greed " of individual bank managers and executives. Huber, who represents around 25 million Protestants in Germany, said banks needed to give more priority to "sustainable value-building" rather than to short-term financial gain and hefty bonuses for its managers. "Money has become akin to God in the current situation," Huber told daily Berliner Zeitung.
Wolfgang Huber, Germany's top Protestant Bishop, on Wednesday sharply criticized the strong profit-driven focus and "culture of greed " of individual bank managers and executives.
Huber, who represents around 25 million Protestants in Germany, said banks needed to give more priority to "sustainable value-building" rather than to short-term financial gain and hefty bonuses for its managers.
"Money has become akin to God in the current situation," Huber told daily Berliner Zeitung.
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