Click here to advertise on CatholicCulture.org

Cardinals recommend overhaul of Vatican financial affairs

Catholic World News - February 19, 2014

The Council of Cardinals has submitted a proposal for a thorough reorganization of the Vatican’s financial affairs.

After three days of meetings, the eight cardinals advising Pope Francis on Vatican reforms have “formulated proposals to be presented to the Holy Father,” the director of the Vatican press office told reporters on February 19. The Vatican spokesman, Father Federico Lombardi, said that the proposals involved the Vatican bank, the Institute for Religious Works, and the financial agencies of the Vatican generally. Pope Francis will now weigh the proposed reforms.

The Vatican did not disclose the nature of the reforms suggested by the Council of Cardinals. But informed Vatican observers speculated that their proposals would call for the creation of a single office to supervise all of the financial dealings of the Vatican.

The Council of Cardinals had heard reports this week from the special commissions created by Pope Francis to study the Vatican’s financial affairs and the Vatican bank. The Council concluded its meetings on Wednesday with an announcement of the dates for its next meetings: April 28-30 and July 1-4.

Father Lombardi said that the Council had completed its study of financial affairs, but continued to weigh other changes in the Roman Curia.

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!

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.

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

Recent Catholic Commentary

Vibrant Catholicism, 1: Lamenting the entire 20th century 5 hours ago
Holding bishops accountable: the next steps May 27
The real story behind the French ambassador's nomination to the Holy See May 27
A joyful noise unto the Lord: Goal met! May 26
De Lubac’s notes on the Second Vatican Council, section 3 May 26

Top Catholic News

Most Important Stories of the Last 30 Days