New study probes principles of banking

Art 08 Feb 11 The ethics of spying and the morality of the financial crisis are among research topics a £1.9m endowment will allow Oxford University's theological experts to pursue. The money has been granted by Alonzo McDonald in whose name the McDonald Centre for Theology, Ethics & Public Life was established in 2008. Initially it will be used to help attract academics to probe the principles, or lack of, behind banks' activities. The new endowment guarantees the centre's work indefinitely. 'It gives us a base and the momentum to go out and look for other funding,' centre director Professor Nigel Biggar said. 'It will provide the flexibility and alacrity that would normally be lacking without such high level backing. 'In the type of work we do, we have to catch the crest of the wave of topical affairs.