Cash crash bishop

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THE Bishop of Durham has addressed an international conference of financiers in Zurich.

The Right Reverend Justin Welby spoke about the issues facing the world’s financial community as it decides whether to repair or replace existing systems of control.

He talked about the destruction of Coventry Cathedral during the Second World War, using it as an allegory of ruin faced by the financial system in the aftermath of the global financial crash.

The bishop is part of the Banking Standards Commission in the House Of Lords, which is tasked with looking at recommendations for a new banking act.

He told the conference: “Financial services are crucial to human development, but they only do their job when the work they carry out is done in a way that is truly a service.”