- Jul 2, 2020
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.
Change now is inevitable, no matter what sort of resistance the fabled “old guard” may put up, because the Vatican finds itself looking down the barrel of a $158 million gun.
Facing a ticking clock on several fronts, the coronavirus has bought Pope Francis and his Vatican team some time.
The Vatican announced Tuesday that internal investigators have seized documents and computers from the office and residence of the former head of a powerful department responsible for investments.
“They want to strike the papacy,” Honduran Cardinal Oscar Rodriguez Maradiaga said in an interview with Italy’s largest-circulation daily newspaper, La Repubblica. “First they depicted a church largely made up of pedophiles, now they’re suggesting economic recklessness, but it’s not so.”