Posts Tagged ‘Vatican finances’

Decline in Vatican tourism forces pope to cutback Comments 0

Thursday, September 10th, 2020

The Vatican tourism revenue has been hit hard by the pandemic. Like other major visitor hotspots, the Vatican is predicting big losses and has had to make cutbacks. The museums (which include the Sistine Chapel) cost about €20 (about $NZ35) to visit. Normally, tens of thousands of people arrive every day, generating millions of dollars Read more

Vatican finance appointee expects integrity Comments 0

Monday, August 17th, 2020

To be credible, the Vatican’s finances need to show integrity, be transparent and have set of values that everyone can operate under, says a recent appointee to the Holy See’s Council for the Economy. Leslie Ferrar, is one of six women Pope Francis appointed to the board overseeing the Holy See’s finances. Reforming the Vatican’s Read more

Vatican jails Italian banker for extortion Comments 0

Thursday, June 11th, 2020

The Vatican has jailed an Italian banker for extortion, embezzlement, aggravated fraud and money laundering. The arrest warrant for Gianluigi Torzi, who had acted as an intermediary for the Holy See in the 2018 purchase of a luxury building in London, was issued last week by the Vatican’s civil court. It has been carrying out Read more

Vatican police arrest Italian in investigation of London real estate deal Comments 0

Monday, June 8th, 2020

Vatican police on Friday arrested Gianluigi Torzi, an Italian middleman who was part of a controversial deal in which the Vatican used Church money to purchase a luxury building in London as an investment. Torzi, who was arrested after questioning by Vatican magistrates, was accused of extortion, embezzlement, aggravated fraud and money laundering, the Vatican Read more

Vatican prosecutors investigate lay secretariat official Comments 0

Thursday, May 14th, 2020

Vatican prosecutors are investigating a lay official who oversaw investments for the Vatican’s Secretariat of State. The investigation is probing the secretariat official’s appointment as a director of a company owned by the financier who brokered the deal for a London luxury apartment building. Vatican prosecutors are also continuing to look into suspicious financial transactions Read more

Four powers the pope needs to grant the new chief of Vatican finances Comments 0

Monday, November 25th, 2019

If you have to ask a Jesuit to straighten out your finances, you are in big trouble. Yet that is what Pope Francis has done. True, some of us can balance our chequebooks, but that is not our charism. In the late 1980s, I was handed the books by the director of a Jesuit think Read more

Unexpected: Vatican replaces financial watchdog head Comments 0

Thursday, November 21st, 2019

Amid a brewing financial scandal over the Holy See’s investments in London real estate, Pope Francis, Monday, announced he will replace the Vatican’s top financial watchdog official. Announcing René Brülhart’s replacement, the Vatican said Pope Francis has chosen a new president but does not name him or her. The three-sentence announcement said Francis thanked Brülhart Read more

New head of Vatican’s economy office needs pope’s strong backing to succeed Comments 0

Monday, November 18th, 2019

When Father Juan Antonio Guerrero was announced as the new head of the Secretariat for the Economy, a collective ‘huh?’ could probably be heard across Rome. The Spanish Jesuit is not a Vatican veteran and has only been in Rome for about two years, where he oversaw the various Jesuit institutions located in and around Read more

Cleaning up Vatican finances reaps EU reward Comments 0

Monday, December 3rd, 2018

Cleaning up Vatican finances and making them more transparent is paying big dividends. Before the financial clean up – which Pope Benedict XVI launched in 2009 and Pope Francis has continued – the Vatican Bank had been an embarrassment to the Church. The aim of the clean-up was to fight money laundering and terrorist financing and Read more

Vatileaks author’s new book promises fresh secrets Comments 0

Thursday, November 2nd, 2017

An Italian journalist known as the “Vatileaks’ author is about to publish a new book revealing fresh secrets about sex, crimes and money in the Holy See. Gianluigi Nuzzi faced court over his last book (Vatican SpA) for leaking confidential Vatican documents. His new book is called Original Sin: Secret Accounts, Hidden Truths, Blackmail and Read more