Pope’s new year address deplores rampant capitalism

The Roman Catholic Church leader spoke at a Mass in the Vatican, then greeted a crowd outside St Peter’s Basilica.

He deplored “hotbeds of tension and conflict caused by growing instances of inequality between rich and poor”.

Those “hotbeds” also grew out of “the prevalence of a selfish and individualistic mindset which also finds expression in an unregulated financial capitalism”, as well as “various forms of terrorism and crime”, he said.