Pope resigns

Apropos of nothing but given it hasn’t happened in 600 years, you wouldn’t want to miss it. From Bloomie:

Pope Benedict XVI, saying he no longer has the strength to lead the world’s 1.2 billion Catholics, will resign from the papacy at the end of the month, the first such abdication in almost 600 years.

“After having repeatedly examined my conscience before God, I have come to the certainty that my strengths, due to an advanced age, are no longer suited to an adequate exercise of the Petrine ministry,” he said today in an address to senior church officials in Rome.

Share

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.