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Influential prelate said Vatican should drop Euro, author reports

July 25, 2012

An influential Church official suggested that the Vatican should drop out of the Euro currency agreement, in order to avoid new European banking regulations, according to a new book by a veteran Vatican journalist.

The suggestion was made two years ago by Archbishop Carlo Maria Vigano, writes Benny Lai in Vatican Finances, a book now making its debut in the Italian market. At the time Archbishop Vigano was secretary of the Vatican city-state Governatorate. His suggestion was ultimately rejected, as the Vatican chose to adhere to the Euro agreement and accept the new scrutiny that tougher banking regulations would require.

It is ironic that the suggestion aimed at avoiding disclosure could have come from Archbishop Vigano—who is now the apostolic nuncio to the US. The same prelate’s letters to Pope Benedict XVI, complaining of financial mismanagement at the Vatican, became the first major salvo in the “Vatileaks” scandal, used by anonymous champions of reform to call for greater disclosure of Vatican affairs.


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