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New head for Vatican Prefecture for Economic Affairs

Catholic World News - September 21, 2011

Archbishop Giuseppe Versaldi of Alessandria, Italy, has been named by Pope Benedict XVI to become the new president of the Vatican’s Prefecture for Economic Affairs.

Archbishop Versaldi replaces Cardinal Velasio De Paolis, who is retiring at the age of 76. Cardinal De Paolis will continue his work as the Pope’s special delegate to oversee reforms within the Legion of Christ.

Archbishop Versaldi is seen as a close ally of Cardinal Tarcisio Bertone, the Vatican Secretary of State. Since every previous president of the Prefecture for Economic Affairs has been a cardinal, it seems likely that the Italian archbishop will be raised to that rank at the next consistory.

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