The head of the Vatican’s sovereign asset management body has insisted that the Holy See is not headed for financial “collapse.”
Bishop Nunzio Galantino made the comments in response to a book published on Monday by Italian journalist Gianluigi Nuzzi, which claims that the Holy See is facing a serious cash shortage, and may soon be unable to meet its ordinary operating expenses.
“There is no threat of collapse or default here. There is only the need for a spending review. And that is what we’re doing. I can prove it to you with numbers,” Galantino said on Oct. 22. Read more
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