Challenge Grant: Our Boosters will match donations up to $45,000. We have $38,755 to go. Please donate!
Click here to advertise on CatholicCulture.org

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.”

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Our Fall Campaign
Progress toward our year-end goal ($126,248 to go):
$150,000.00 $23,751.70
84% 16%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Fall 2014 Campaign
Subscribe for free
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

The Synod: It's a Wrap! 8 hours ago
A chaotic synod? Not in its results 9 hours ago
Cardinal Kasper's unsubtle threat 15 hours ago
When Catholics are less Catholic than non-Catholics October 20
Cardinal Kasper's nose is growing again October 18

Top Catholic News

Most Important Stories of the Last 30 Days
Key synod report calls for 'gradualism' in Church response to irregular family situations CWN - October 13
As synod concludes, bishops issue message, approve document; Pope weighs in CWN - October 20
Cardinal Parolin: UN must protect innocents from Islamic State CWN - September 30
Synod of Bishops opens with Mass in St. Peter’s Basilica CWN - October 6