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Memo explains reasons for firing of Vatican Bank president

Catholic World News - May 28, 2012

One of Italy’s leading newspapers has published a memorandum listing the reasons why Ettore Gotti Tedeschi was fired from his position as president of the Vatican Bank, formally known as the Institute for Works of Religion (IOR).

The memo, addressed to Tedeschi, was written by Carl Anderson, Supreme Knight of the Knights of Columbus and member of the IOR’s board of superintendence.

The reasons cited for the board’s unanimous decision to remove Tedeschi include a “failure to carry out basic duties,” “abandoning and failing to attend meetings of the Board,” “lack of prudence and accuracy in comments regarding the Institute,” “progressively erratic [personal] behavior,” and “failure to provide any formal explanation for the distribution of documents last known to be in the President’s possession.”

“The image of the Institute was damaged,” Anderson added in remarks quoted byCorriere della Sera. “We were motivated by a desire to promote transparency and revamp the Institute.”

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