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Pope discouraging speculation on future of Vatican bank

May 07, 2013

Pope Francis has signaled his desire to curb speculation about the future of the Vatican bank, according to an analysis in the Italian journal L’Espresso.

Last week Archbishop Giovanni Becciu, the Vatican’s deputy secretary of state, told L’Osservatore Romano that the Pope was “surprised” by public statements about his plans for the bank, the Institute for Religious Works (IOR). Archbishop Becciu—who meets with the Pontiff daily in his capacity as sostituto, the official who handles the flow of paperwork within the Roman Curia—was probably speaking at the Pope’s request, L’Espresso reasons. The analysis continues:

This is the twofold message that Pope Francis wanted to issue both “ad intra," meaning to prelates and cardinals who are bit too chatty, and “ad extra," meaning to the media and banking circles that have a great interest, and perhaps interests as well, in the fate of the Vatican financial institute that manages “assets” of more than 6 billion euro.


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  • Posted by: Marija - May. 07, 2013 7:36 PM ET USA

    Wonder what would happen if Pope Francis suggested the Church go back to its teaching that usury is a mortal sin. Imagine the Catholic Church banking without interest/usury. What a radical idea to the global money powers of 2013.