Belfast Telegraph

Saturday 30 August 2014

End banks 'casino culture': Geldof

Sir Bob Geldof arrives at Trinity College, Dublin, for a Historical Society debate on development aid
Trinity College Historical Society Auditor Huw Duffy presents Sir Bob Geldof with the society's medal for services to world development

Anti-poverty activist Bob Geldof has called for an end to the casino culture in the banks.

Although claiming the nature of the financial crisis in Ireland has left a bitter taste, he would not be drawn on whether there should be a change of government.

"What happened here and the way that it was done leaves a very bitter taste in the mouth for everyone," Geldof said.

"But essentially the casino that banks became, that really needs to stop now."

Geldof was speaking before a debate at Trinity College Dublin on whether development aid, with which he has a strong interest and association, has done more harm than good.

He described support for developing countries as critical.

"Africa since 2000 has 2% growth per annum, poverty reduction is down 1% ongoing ... the logic of it works," he said.

It was his second public appearance in Dublin in less than a week.

He took part in a public interview at The Music Show in the RDS at the weekend, where he talked at length about his musical career and anti-poverty efforts

Justin Kilcullen, Trocaire director, also took part in the debate and said development aid was a way for richer countries to show solidarity with developing countries.

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