At the invitation of Kairos Europa, the World Council of Churches, the World Alliance of Reformed Churches and Pax Christi International 25 representatives of churches and ecumenical organisations of western Europe as well as seven delegates from international church organisations and social movements of the South gathered in Frankfurt to initiate a common process for a more just financial system.

• The participants agreed on a common process under the leading concept of Jubilee. The international Jubilee 2000 campaign has been very effective in raising awareness about the problem of indebtedness and in excerting public pressure towards the cancellation of debt of the poorest countries. But the biblical understanding of the jubilee year involves much more than debt cancellation. It can and must be deepened and extended to include broader issues of economic justice, including the financial system itself.
• Debt cancellation can only be seen as one (first) step on the way to a just financial system. Other important demands are e.g. the introduction of a currency transaction tax (Tobin tax) and the abolition of offshore centers and tax havens.
• A one-off-campaign is not sufficient; a systematic process is needed containing research/studies, education/training, implementation and sharing, linking this to advocacy work for alternatives on the national and European levels.
• Churches are challenged to rise to their ethical and moral mandate and to get much more involved in this ongoing debate, both supporting already existing campaigns and organisations such as the international ATTAC movement, Jubilee South, Aktion Finanzplatz Schweiz etc., and organising their own activities with a specific focus on church groups and congregations.
• There is a need for awareness raising and education about these issues within church groups and congregations, building on the efforts and activities of the Jubilee campaign(s). The systemic issues must be related to the day to day reality of people.
• The churches’ own investment policies are to be challenged. Church investments should be transparent and ethically responsible. Churches are important financial players who can influence company policies and raise public awareness through high profile disinvestment and shareholder action, e.g. participating in the boycott of World Bank bonds.

• Until the end of January 2001 a joint position paper will be issued aiming at mobilising European churches to get involved in this process. This paper will be based on a more fundamental and deepened understanding of the Jubilee tradition. It will be elaborated by a small group (Ulrich Duchrow, Bob Goudzwaard, Martin Conway and Ann-Cathrin Jarl) and will be distributed to all participants of the conference in order to use it as a mobilising tool.
• Kairos Europa is going to elaborate various education materials (basic information sheets, small booklets etc.) about these topics for church congregations and groupings.