Efforts to reform and professionalize Vatican financial services and oversight continued as Pope Francis dismissed the all-Italian five-member board that oversees the Vatican’s financial watchdog agency on June 5, in a move widely interpreted as a blow to the Vatican old guard. According to a Vatican statement, the pope named five experts from Switzerland, Singapore, the United States and Italy to replace those who were removed from the board of the Financial Information Authority (A.I.F.), the Holy See’s internal regulatory agency. The five outgoing members had been expected to serve five-year terms ending in 2016. The sole American on the new board is Juan Zarate, a senior adviser at the Center for Strategic and International Studies and visiting lecturer at Harvard Law School. The pope has taken a hard line on cleaning up the Vatican finance system. According to a report by the Italian news agency ANSA, two senior officials at the bank have also been eased into early retirement after reports by two separate ad hoc committees appointed by Francis to study Vatican finances.
Vatican Finance Reform Continues
Show Comments ()
1
Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
Dan Hannula
10 years 9 months ago
Why doesn't his Holiness go all the way and make the bank part of history like the Army of the Papal States?
The latest from america
McCarrick had been removed from ministry at the direction of the Vatican in June 2018 due to a credible allegation of sexual abuse of a teenager investigated by the Archdiocese of New York.
”Unreconciled” looks abuse, disregard and callousness in the eye and witnesses instead to radical kindness.
‘A Man Escaped’ is a story of a man seeking temporal salvation, but Robert Bresson’s film takes on deeper meaning, becoming a parable of the Spirit.
The thought of losing Pope Francis one day is a hard one for me to grapple with; I know my reasons why. What surprised me was how many of my non-Catholic friends, even those whose feelings toward the church are decisively negative, also expressed their care and concern.