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VATICAN CITY (RNS) The pope’s statement ended months of speculation about the troubled bank’s future and endorsed a proposal developed by Cardinal George Pell, head of the Vatican’s new Secretariat for the Economy.

9 Comments

  1. samuel Johnston

    God loves banks, and will not tolerate institutions or movements which lack them. Jesus, like St. Francis, had to get a special dispensation to claim poverty.

  2. Edward Borges-Silva

    The wisest thing Pope Francis could do is liquidate the Vatican bank, there is no legitimate religious purpose in a church controlling a financial institution, the bank in question has been plagued with scandal back at least to the 1980’s, a succession of Popes have been unable to reform the institution. You cannot serve both God and Mammon.

  1. […] Pope Francis has approved a new direction for the scandal-ridden Vatican bank as it seeks to improve transparency and compliance with international guidelines, the Vatican said Monday (April 7). The bank, known as the Institute for Religious Works, was founded in 1942 to manage funds for Roman Catholic institutions, Vatican employees and clergy but has been plagued by allegations of money laundering and Mafia links for decades. [Read more] […]

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