The ubiquitous term “spread” – a staple of financial news bulletins and one of the main measures of investor sentiment – has now penetrated even the elevated lexicon of the papacy.
In his speech to diplomats from around the world, Pope Benedict chastised those who only think of a “spread” in financial terms. He said there should be a simultaneous concern for a social “spread” – the gap between the rich and poor.
“If the differential index between financial taxes represents a source of concern, the increasing differences between those few who grow ever richer and the many who grow hopelessly poorer, should be a cause for dismay,” the pope told the diplomats in his speech at the Vatican on Monday.
“In a word, it is a question of refusing to be resigned to a ‘spread’ in social well-being, while at the same time fighting one in the financial sector,” he said.