As world leaders and finance ministers meet this weekend to discuss funding for poorer countries, two leading development agencies are calling for major reforms of the global financial system.

As the scale of the global credit, climate and oil shocks becomes clearer, support for a radical 'Green New Deal' is growing, political economist Ann Pettifor and analyst Andrew Simms told a meeting in parliament last night.

Oikocredit, the worldwide co-operative which challenges churches and others to share their resources through socially responsible investments, has become a 'body in association' with Churches Together in Britain and Ireland.

The biblical theme of judgement confronts us with some tough issues, says Simon Barrow. But rightly understood it is about liberation not vindictiveness, and a reorientation which is economic as much as spiritual, political as much as religious.

As many "responsible for the current financial meltdown" meet "behind closed doors in Washington" to discuss the future of the global economy, the World Council of Churches has challenged the legitimacy of the "G20" group.

The Archbishop of Canterbury Rowan Williams has said greed is the root cause of the current economic crisis and he has called on Christians and Muslims to work together to decide upon a fairer system of borrowing and lending.

There is a "gradual retreat of neoliberalism" in the region, according to participants in a Latin America and Caribbean ecumenical Christian consultation to examine the links between poverty, wealth and ecology.

The current global economic crisis is not just a squeeze on lenders, borrowers and spenders. It also crunch time for the politicians and for the Christian churches, says Simon Barrow. Now is a time to be investing in practical alternatives.