Posts Tagged ‘Vatican City’

Vatican consumes the most wine in the world Comments 0

Friday, February 28th, 2014

The Vatican City state consumes more wine per capita than any other country in the world. According to statistics from the California-based Wine Institute, the Vatican consumed 74 litres of wine per person in 2012. This is about double the per capita consumption of Italy as a whole. A standard bottle of wine is about Read more

Vatican City cracks down on suspicious transactions Comments 0

Friday, October 11th, 2013

The Vatican City State has adopted a new law cracking down on financial transactions that could enable money-laundering and imposing a new level of transparency and supervision. The Holy See Press Office said the new norm, Law XVIII, “strengthens the current internal system for the prevention and countering of money laundering and the financing of Read more

Good and bad money news for Holy See Comments 0

Tuesday, July 9th, 2013

The Holy See has recovered from one of its worst deficits to post a $NZ3.6 million surplus for 2012, a good news story announced in a week in which “clear failings” were revealed in the processes of the Vatican Bank. In its annual financial statement, the Holy See said better management had helped it recover Read more

Pope Francis, rebel in the Vatican Comments 1

Friday, July 5th, 2013

It was just another weekend at the office for Pope Francis, more of the series of actions, words and gestures that have kept him a fixture in the international media since his March 13 election. On June 15 he took a major step toward reforming the scandal-wracked Vatican bank by appointing his own man, Msg. Read more

Holy See passes financial transparency audit, but could do better Comments 0

Friday, July 20th, 2012

After passing a financial transparency audit by European bank inspectors, the Holy See says it is still working towards a robust and sustainable system to combat money laundering and the financing of terrorism. The audit by Moneyval, a department of the Council of Europe, followed a request by the Holy See last year for an Read more

Holy See finances show biggest deficit in decade Comments 0

Tuesday, July 10th, 2012

The Holy See has suffered its largest budget deficit for 10 years, but growing numbers of visitors to the Vatican Museums gave the Vatican City State a healthy surplus. The Holy See finances for 2011 recorded a deficit of 14.9 million euros ($NZ22.9 million). Its budget covers the Vatican Secretariat of State and its worldwide Read more