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Catholic World News

Cardinal Pell sees closing of Vatican bank as unlikely

March 03, 2014

Cardinal George Pell, who was installed last week as head of the Vatican’s new Secretariat for Economy, does not expect that Pope Francis will close the Vatican bank.

In an exclusive interview with John Allen of the Boston Globe, Cardinal Pell said that a move to close down the Institute for Religious Works now seems unlikely. The Australian cardinal said, however, that Pope Francis is determined to bring transparency and accountability to the Vatican’s financial dealings. “Not only does he mean it, but he has the capacity to get it done,” he said.


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