- Jan 28, 2020
Pope Francis is taking a chance on a new head for the Vatican’s main financial center, akin to a “Hail Mary” pass in American football.
Pope Francis on Tuesday engineered a changing of the guard at the department that handles both the Vatican’s real estate and its investment portfolio.
Under Pope Francis, there’s a river of news every day, often making it hard to separate the important from the ephemeral. In that light, here’s a run-down of stories from the past year whose lasting significance still hasn’t been fully digested.
Pope Francis was elected in March 2013 on a reform mandate, and quickly got to work trying to clean up Vatican finances. The effort has been beset with headaches and tensions, however, and two new key figures who’ve faced questions marks themselves are now set to play a more prominent role.
On Saturday, Pope Francis issued an edict restoring several financial powers to the Administration of the Patrimony of the Apostolic See (APSA), taking them away from Australian Cardinal George Pell and his Secretariat for the Economy. With power, however, also comes the blame if something goes wrong.