Geldof calls for end to casino culture in banks

ANTI-POVERTY activist Bob Geldof last night called for an end to the casino culture in the banks.

Although claiming that the nature of the financial crisis in Ireland had left a bitter taste, he would not be drawn on whether there should be a change of government.

“What happened here and the way that it was done leaves a very bitter taste in the mouth for everyone,” the singer said.

“But essentially the casino that banks became, that really needs to stop now.”

He was speaking before a debate at Trinity College Dublin on whether development aid, with which he has a strong interest and association, has done more harm than good.

He described support for developing countries as critical.

“Africa since 2000 has 2% growth per annum, poverty reduction is down 1% ongoing… the logic of it works,” he said.

It was his second public appearance in Dublin in less than a week.

He took part in a public interview at The Music Show in the RDS at the weekend, where he talked at length about his musical career and anti-poverty efforts

Justin Kilcullen, Trócaire director, also took part in the debate and said development aid was a way for richer countries to show solidarity with developing countries.

Mr Kilcullen recently called for the introduction of a tax on financial institutions, which, he said, would generate hundreds of billions of euro every year to eradicate global poverty.

He said it was time for the banks to contribute to the cost of helping to lift millions out of poverty.


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