Catholic Culture Overview
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Vatican memos warned economic reforms could become ‘charade’

November 22, 2022

» Continue to this story on Pillar

CWN Editor's Note: Internal Vatican memos, obtained by The Pillar, warned in 2016 that Vatican economic reforms were in danger of becoming a “charade,” as the Secretariat of State moved to undercut the authority of the Secretariat for the Economy.

The memos said that the economic reforms would have “no real substance” if auditors were prevented from carrying out their responsibilities. The Pillar revealed, on the basis of the leaked memos, that the Secretariat of State had not only stalled an external audit, but also sought to eliminate funding for the Council for the Economy.

The 2016 memos also show that the Vatican’s auditor general at the time, Libero Milone, had embarked on an investigation into “irregularities” in the accounts of APSA, the Vatican’s investment arm, and saw “significant exposure to fraud.” Milone was soon forced to resign; he has recently filed suit charging that his dismissal was a bid to cover up misconduct.

The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.


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  • Posted by: td4207 - Nov. 22, 2022 8:43 PM ET USA

    Without transparency, given all the news about Vatican financial irregularities, I have no interest in contributing to Peter's Pence any time soon.