Vatican financial reforms produce few results: Italian analyst

July 31, 2017

The resuts of financial reforms undertaken by Pope Francis are “thin,” according to journalist Massimo Franco of Corriere della Sera.

Franco writes that Pope Francis was elected with a strong mandate to bring accountability to Vatican financial dealings, and the new Pontiff promised “shock therapy.” But ambitious plans for change have been set aside, and Vatican officials are returning to familiar patterns of behavior, with the Secretariat of State resuming control over administrative affairs.

The Italian journalist notes that two key figures in the attempted reform have recently left the scene. Cardinal George Pell, the prefect of the Secretariat for the Economy, has taken a leave of absence to fight sex-abuse charges. Libero Milone, the Vatican auditor, has abruptly resigned. Neither has yet been replaced.

Franco predicts that Jean-Baptise de Franssu, the president of the Vatican bank, the Institute for Religious Works, will be the next major figure to step down, because he is facing steadily mounting opposition.

 

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Further information:

• Commentator sees ‘thin results’ from Pope’s financial ‘shock therapy’ (Crux)