World economy needs 'profound reform': Pope

VATICAN CITY: Pope Benedict XVI on Sunday called for "profound reform" of the world economy in the wake of last week's G20 summit in Seoul, calling on rich economies not to gang up against poorer states.

"The current economic crisis, which has been addressed in these days by the meeting of the G20, has to be taken with great seriousness," Benedict said in a weekly address to thousands of pilgrims in St. Peter's Square in the Vatican.

The crisis "sends a strong call for a profound reform of the global economic development model," he said, adding that top economies should not "chase advantageous alliances that could... have grave results for the poorest."

The pope also called for a revival of farming to help the victims of the global economic crisis and warned against "unsustainable consumerism."

"A strategic revival of agriculture appears crucial," Benedict said.

"I think the moment has come for a re-evaluation of agriculture not in a nostalgic sense but as an indispensable resource for the future," he added.

He also said that despite the economic crisis "long-industrialised countries are promoting lifestyles that are dominated by unsustainable consumerism."

Benedict called for "a new equilibrium between agriculture, industry and services so that development can be sustainable."