- Jan 22, 2021
This week Italy opened the largest mob trial in history, with 325 defendants in the dock linked to the ‘Ndrangheta syndicate in the southern Italian region of Calabria.
Australian Cardinal George Pell, formerly the Vatican’s top official on financial affairs, said he believes the pope’s recent reforms signal progress, and called for additional competent laypeople to be involved in the process.
Pope Francis has taken away away the power of the purse from the Secretariat of State, traditionally the Vatican’s 800-pound gorilla, and transferred it to the Administration of the Patrimony of the Apostolic See (APSA), the Vatican’s central bank. At the same time, he beefed up the oversight role of the Secretariat for the Economy.
Pope Francis has formally stripped the Vatican secretariat of state of its financial assets and real estate holdings following its bungled management of hundreds of millions of euros in donations and investments that are now the subject of a corruption investigation.
With no international trips this year due to the coronavirus pandemic, the prolonged immobility provided Pope Francis some much-needed time to focus on cleaning out his own backyard, perhaps most notably when it comes to money.
Does anyone seriously believe that the pope’s new corporate BFFs, with $10.5 trillion in assets at their disposal, couldn’t help cover a $60 million deficit in a pinch?