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Pope and cardinals turn spotlight on Vatican bank

Problems and strategies discussed by pope and team of advisors

Pope and cardinals turn spotlight on Vatican bank

Picture: Vatican Insider/La Stampa

Iacopo Scaramuzzi for Vatican Insider/La Stampa
Vatican City

February 19, 2014

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The Pope and the eight cardinal advisors (the so-called “C8”) who are helping him reform the Roman Curia received the Commission for Reference on the Institute for the Works of Religion (IOR) in an audience this morning. During this meeting, both “problems” and “possible” restructuring “strategies” were discussed, bearing in mind the “Church’s mission” and the “context” of the Vatican’s economic and administrative structure as a whole. This includes the IOR. Vatican spokesman Fr. Federico Lombardi communicated this, adding that the Vatican Secretary of State was present at both yesterday and today’s meeting.

Today’s meeting was the second in a three-day meeting being held between the Pope and his advising Council. Yesterday the “C8” heard the Commission for Reference on the Economic-Administrative Structures of the Holy See (COSEA). Tomorrow afternoon there will be a meeting with the 15 cardinals in charge of studying the organisational and economic problems of the Holy See (Meisner, Rouco Varela, Pengo, Rivera Carera, George, Fox Napier, Cipriani, Scola, Toppo, Pell, Vallini, Urosa Savino, Ricard, Odilo Scherer, Tong Hon).

Today the Pope and his advisors received almost all members of the Commission for reference on the IOR (cardinals Farina (president) and Tauran, Mgr. Arrieta (coordinator), Mgr. Wells (secretary): only Professor Glendon who lives in the United States was missing). Lombardi said that the Commission presented “a thorough report” which cardinals showed “significant interest in,” asking “further questions” on it after it was presented. The Vatican spokesman emphasised that the “mission for the IOR” – in other words fitting “the mission of the Church into the world” – was discussed. This debate was not just limited to a close examination of economic efficiency. More specifically, the Commission “reported on the current situation of the Institute, the problems, the interpretations of what caused existing problems or reasons why there may be problems to deal with or resolve” and “some ideas for the renewal or set-up of the Institute.”

Full Story: Pope and "C8" discuss reform of the IOR and the Church’s mission 

Source: Vatican Insider/La Stampa

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