Leaders from across the UK including the Prime Minister and King Charles have been paying tribute to Pope Francis, who has died at the age of 88.
He was selected to serve as pontiff in 2013 and was the first to choose the name Francis. He went on to influence millions and met with many of the civil and political leaders of the UK.
He said: “My wife and I were most deeply saddened to learn of the death of Pope Francis. Our heavy hearts have been somewhat eased, however, to know that His Holiness was able to share an Easter Greeting with the Church and the world he served with such devotion throughout his life and ministry.
“His Holiness will be remembered for his compassion, his concern for the unity of the Church and for his tireless commitment to the common causes of all people of faith, and to those of goodwill who work for the benefit of others.
“His belief that care for Creation is an existential expression of faith in God resounded with so many across the world. Through his work and care for both people and planet, he profoundly touched the lives of so many.
Image: Pope Francis met with King Charles and Queen Camilla during a private audience at the Vatican earlier this month. Pic: Reuters
The King continued: “The Queen and I remember with particular affection our meetings with His Holiness over the years and we were greatly moved to have been able to visit him earlier in the month.
“We send our most heartfelt condolences and profound sympathy to the Church he served with such resolve and to the countless people around the world who, inspired by his life, will be mourning the devastating loss of this faithful follower of Jesus Christ.”
Sir Keir Starmer has also paid tribute to the pontiff and said he joined “millions around the world in grieving” his death.
The Prime Minister added: “His leadership in a complex and challenging time for the world and he church was often courageous, yet always came from a place of deep humility.
“Pope Francis was a pope for the poor, the downtrodden and the forgotten. He was close to the realities of human fragility, meeting Christians around the world facing war, famine, persecution and poverty. Yet he never lost the faith-fuelled hope of a better world.
“That hope was at the heart of his papacy. His determination to visibly live out his faith inspired people across the world to see afresh the church’s teachings of mercy and charity.
He added: “With his death, we are reminded once more of his call to care for one another across different faiths, backgrounds, nations and beliefs.
“My thoughts are with Catholics across the world, and the Roman Catholic Church.
“May His Holiness Rest in Peace.”
Image: Pope Francis waves at the end of the Palm Sunday mass at Saint Peter’s Square at the Vatican in 2016. Pic: Reuters
He spent his “final Easter yesterday bearing witness to the faith he devoted his life to”, Conservative leader Kemi Badenoch said.
The Leader of the Opposition added that Pope Francis was “a quiet presence at a time when the world needed humility, courage and conviction.”
She wrote: “His death on Easter Monday feels especially poignant. He reminded us that leadership isn’t about power, but about service.
Ms Badenoch, whose husband is Catholic, added: “When I met him in 2022, he spoke warmly of the UK and the values we share.
“In a world that too often turns away from faith, he stood firm. May he rest in peace.”
Sir Ed Davey called the pope’s passing a “profound loss to millions across the world”.
The Liberal Democrat leader said: “He was a leader of compassion and courage, speaking up for those in need and calling for peace in a world too often divided.
“His influence reached far beyond the Church. He offered hope by reminding us of strength in kindness and faith.
“We should remember his example: stand up for what’s right, care for others, and hold onto compassion and hope.”
Nigel Farage, the leader of Reform UK, remarked that he met Pope Francis and “liked him very much”.
He said his “sympathies go out to all in the Catholic Church following the death of Pope Francis”.
Tributes were also paid to the pope from the leaders of the UK’s devolved administrations.
John Swinney, the First Minister of Scotland, said it was with “deep sadness” that he heard the news of the pope’s passing.
“He was a voice for peace, tolerance and reconciliation in our society”, the SNP leader said.
“He brought comfort, assurance and hope to many. May he rest in peace”, Mr Swinney concluded.
In Wales, First Minister Eluned Morgan said: “It is with great sadness that we hear of the death of His Holiness Pope Francis this morning.
“Our thoughts and prayers are with our Catholic community in Wales and around the world at this very difficult time.”
Former prime minister Sir Tony Blair, who converted to Catholicism after leaving office, also paid tribute to the pope.
He said: “Pope Francis was an extraordinary and devoted servant of the Catholic Church, admired both within and beyond it for his humility, compassion, and unwavering commitment to the Christian faith and the service of all humanity – Christian and non-Christian alike.”
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A growing demand for US dollar-tied crypto stablecoins could help push down the interest rate, says US Federal Reserve Governor Stephen Miran.
The Donald Trump-appointed Miran told the BCVC summit in New York on Friday that the dollar-pegged crypto tokens could be “putting downward pressure” on the neutral rate, or r-star, that doesn’t stimulate or impede the economy.
If the neutral rate drops, then the central bank would also react by dropping its interest rate, he said.
The total current market cap of all stablecoins sits at $310.7 million according to CoinGecko data, and Miran suggested that Fed research found the market could grow to up to $3 trillion in value in the next five years.
Stephen Miran speaking at a conference in New York on Friday. Source: BCVC
“My thesis is that stablecoins are already increasing demand for US Treasury bills and other dollar-denominated liquid assets by purchasers outside the United States and that this demand will continue growing,” Miran said.
“Stablecoins may become a multitrillion-dollar elephant in the room for central bankers.”
Organizations, including the International Monetary Fund, have warned that stablecoins pose a threat to traditional financial assets and services, as they could potentially compete for customers. US banking groups have also urged Congress to tighten oversight of stablecoins with yield, arguing they could attract would-be bank users.
During his speech, Miran praised the GENIUS Act for setting out clear guidelines and consumer protections, as he indicated that the regulatory framework will play a key role in spurring broader adoption of stablecoins.
“While I tend to view new regulations skeptically, I’m greatly encouraged by the GENIUS Act. This regulatory apparatus for stablecoins establishes a level of legitimacy and accountability congruent with holding traditional dollar assets,” he said, adding:
“For the purposes of monetary policy, the most important aspect of the GENIUS Act is that it requires U.S.-domiciled issuers to maintain reserves backed on at least a one-to-one basis in safe and liquid US dollar–denominated assets.”
The crypto market could soon see some much-needed relief after the US Senate reached an agreement on a three-part budget deal to end the government shutdown, Politico reports.
Pending legislation to fund the US government has more than enough support to pass the 60-vote threshold, Politico reported on Sunday, citing two people familiar with the matter.
It was Republican Senate Majority Leader John Thune’s 15th attempt to win Democratic support for a House-approved bill, putting the record 40-day government shutdown within reach of being lifted.
An official vote is still needed to finalize the agreement.
Ongoing uncertainty over when the US government would reopen has been a key factor holding back Bitcoin (BTC) and the broader crypto market from mounting a rebound.
Bitcoin initially rallied to a new high of $126,080 six days into the government shutdown on Oct. 6, but has since fallen over 17% to $104,370, CoinGecko data shows.
Bitcoin’s fall over the past month saw it drop by double-digit percentage points on Oct. 10 after US President Donald Trump’s announcement of 100% tariffs on China sent shockwaves throughout the markets.
Bitcoin’s change in price since Oct. 1. Source: CoinGecko
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After it ended on Jan. 25, 2019, Bitcoin rose over 265% from $3,550 to $13,000 over the next five months.
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