- Oct 30, 2020
Monday’s encounter between Pope Francis and Australian Cardinal George Pell marked a vindication for the 79-year-old Australian prelate, but perhaps not a full resurgence.
The Vatican’s financial situation must be “a glass house” that displays transparency and honesty, letting Catholics know where its revenues come from and go, said the head of the Secretariat for the Economy.
Despite the general stall related to the coronavirus over the last several months, it’s been drive time in terms of a financial reshuffle in the Vatican.
Pope Francis and his Vatican team this week have moved to try to defuse a financial bomb before it goes off, closing several Swiss holding companies responsible for portions of its assets and reallocating internal control over financial data collection.
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. Pope Francis needs to make sure people know he has his full backing to push through the Vatican’s stalled financial reforms.