Click here to advertise on CatholicCulture.org

Interview with Cardinal Pell on reform of Vatican finances

Catholic World News - August 07, 2014

Cardinal George Pell, the new prefect of the Secretariat for the Economy, discussed the reform of Vatican finances in a lengthy interview with Catholic News Service.

“We're attempting to put into place the best available set of management practices,” he said. “There are international standards for accounting and money management … all the appropriate, prudential systems and procedures that are acceptable across the world, we're introducing here.”

These procedures, he continued, include “regular audits” and “the ‘four eyes’ principle, so that any significant piece of business cannot be conducted only by one person.”

“None of this is rocket science, but we're very well aware that when people donate to the Church, they expect the money to be used wisely, for good purposes,” he said.

“If we are going to help the poor we need to have the wherewithal, and the better we manage our finances, the more good works that we can do,” he added. “I remember Margaret Thatcher's comment, that the Good Samaritan, if he hadn't been a little bit of a capitalist, had his own store of money, he couldn't have helped. We can do more if we generate more.”

Cardinal Pell also invoked the principle of subsidiarity, stating that “many, many things that can be done locally should be done locally.”

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 Spring Challenge Grant
Progress toward our Spring Challenge goal ($25,000 to go):
$25,000.00 $0.00
100% 0%
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!

Show 1 Comments? (Hidden)Hide Comments
  • Posted by: normnuke - Aug. 07, 2014 3:10 PM ET USA

    It's a little jarring to hear that these prudential constraints have been absent since the AD's. You go! , Cd. Pell.

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

Recent Catholic Commentary

Church Fathers: The Other Greek Apologists April 19
Mysteries, again and again! April 17
Tips for getting comfortable with evangelization April 17
The Shroud of Turin on Display (and an odd canonical case against it) April 16
The Vatican says the LCWR is acting Catholic. And that's news. April 16

Top Catholic News

Most Important Stories of the Last 30 Days
Pope challenges world leaders' silence on persecution of Christians CWN - April 6
Pope outlines plans for the extraordinary jubilee of mercy CWN - April 13
Vatican completes doctrinal assessment of Leadership Conference of Women Religious CWN - April 16
Pope accepts resignation of Bishop Finn CWN - 4 hours ago