The Church of Ireland Primate has criticised some bank directors and executives for indulging in unnecessarily high risk strategies in the current economic crisis and said they should consider their positions.Archbishop Alan Harper told church members there was an urgent need for a completely new ethic in international banking, based on a powerful regulatory system.
Church of Ireland finances were being discussed by members gathered in Armagh for the General Synod.
But it was the fallout from the global economic crisis that the Primate of All-Ireland turned his attention to.
Referring to the role played by bank directors and executives, Archbishop Alan Harper said it was not acceptable that high-risk strategies should be allowed to threaten the deposits of customers and the investments of shareholders.
He said those in charge of financial institutions who were responsible for the economic crisis should consider their positions.
He also called for a new ethic internationally to replace the flawed economic ethics of the past.
There was a lively debate on education issues on both sides of the border.
Synod members expressed their anger about the implications for the financing of Protestant secondary schools in the Republic in areas such as Cork arising from changes introduced in the October budget.
The Synod concludes tomorrow, the first time it has been held over a weekend.
