Pope Francis' Financial Angel Fails to Safeguard the Vatican's Reputation
A bad reputation can be expensive...but not like this.
The Vatican is a self-contained country in the middle of Rome. In fact, what the locals call Vatican Bank — officially titled the Institute for the Works of Religion — manages €5.9bn ($7.3bn, £4.64bn) in assets.
In short, the Holy See won’t be ordering takeout anytime soon.
AP just released a report about the Vatican’s coffers stemming from Papal Emeritus Benedict’s regime in the gold (leaf) throne:
Italian weekly L’Espresso reported in its Friday editions that Cardinal George Pell’s economy secretariat had run up a half-million euros (dollars) in expenses in the first six months of its existence.
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