Council of Europe Approves Vatican Financial System but Suggests Increased Vigilance

Rome Reports
July 18, 2012

http://www.romereports.com/palio/council-of-europe-approves-vatican-financial-system-but-suggests-increased-vigilance-english-7309.html

[with video]

July 18, 2012. (Romereports.com)(-ONLY VIDEO-) The Moneyval committee from the Council of Europe has published their first report of 241 pages on the financial transparency of the Vatican. It suggests improvements in monitoring to ensure greater effectiveness of its financial system.

Of the 45 criterion that were evaluated, 22 of them were approved and the other 23 were said to have areas that needed improvement. Normally the evaluation criterion is based on 49 points, but the report notes that given the characteristics of the Holy See that four did not apply in this case.

Moneyval continues to monitor the implementation of their recommendations and will publish a second report next year.

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