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hrmjustin

(71,265 posts) Mon Apr 7, 2014, 05:26 PM Apr 2014

Pope approves reforms for scandal-plagued Vatican bank

Josephine McKenna

VATICAN CITY (RNS) 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.

http://www.religionnews.com/2014/04/07/pope-approves-reforms-scandal-plagued-vatican-bank/

3 replies

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Pope approves reforms for scandal-plagued Vatican bank (Original Post) hrmjustin Apr 2014 OP

There is no excuse for lack of transparency at this bank goldent Apr 2014 #1

I agree. I think the pope is going to deal properly with this. hrmjustin Apr 2014 #2

It should have been cleaned up decades ago Fortinbras Armstrong Apr 2014 #3

goldent

(1,582 posts)

1. There is no excuse for lack of transparency at this bank

Reply to hrmjustin (Original post)

Mon Apr 7, 2014, 06:36 PM

Apr 2014

I have confidence that Pope Francis will not accept excuses.

Compared to the many issue in the RCC, this should be an easy one.

hrmjustin

(71,265 posts)

2. I agree. I think the pope is going to deal properly with this.

Reply to goldent (Reply #1)

Mon Apr 7, 2014, 06:37 PM

Apr 2014

Fortinbras Armstrong

(4,477 posts)

3. It should have been cleaned up decades ago

Reply to hrmjustin (Original post)

Tue Apr 8, 2014, 07:00 AM

Apr 2014

Certainly after the Banco Ambrosiano mess in the early 1980s.

While it was going on, and then-head of the ICR Paul Marcinkus was hiding out at the Vatican to avoid questions from the Italian banking authorities, the President of Italy came to the Vatican for a three-hour conversation with Pope John Paul II. A Vatican spokesman said that the banking scandal was never mentioned. I remember thinking at the time "how stupid do they think we are?"

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