Pope Benedict XVI slammed "unregulated financial capitalism" during a New Year's Day Mass in St. Peter's Basilica to mark the church's world day of peace.
Pope Benedict XVI said that "unregulated financial capitalism" was evidence of an "egotistical and individualistic mentality" reports the Associated Press.
However, he added that "numerous works of peace, of which the world is rich, are testimony to the innate vocation of humanity to peace."
Later, Pope Benedict XVI appeared at his studio window overlooking St. Peter's Square to wish the crowds below a Happy New Year.
Nearby, a man scaled the scaffolding of the vatican and draped a banner calling on Pope Benedict XVI to "Stop Terrorism."