Vatican Aims for "Boring" Success through Reforms

Tribune-Review
December 4, 2014

http://triblive.com/usworld/world/7307729-74/vatican-pell-finances#axzz3L1Zcloww

The Vatican's economy czar claims the Holy See's finances are in better shape than thought, and that reforms are forging ahead to make the Vatican “boringly successful.”

“Hundreds of millions of euros were tucked away in particular sectional accounts and did not appear on the balance sheet,” Cardinal George Pell wrote in a frank essay published Friday in Britain's The Catholic Herald.

“It is important to point out that the Vatican is not broke ... the Holy See is paying its way, while possessing substantial assets and investments,” Pell said, according to an advance text made available Thursday. “It was impossible for anyone to know accurately what was going on overall.”

Pell did not suggest any wrongdoing but said Vatican departments had long had “an almost free hand” with their finances and followed “long-established patterns” in managing their affairs.

Pope Francis was elected in 2013 on a mandate to get the Vatican's finances in order after years of scandal at its bank and waste in its administration. Pell was named by Francis to oversee the process.

Pell said that two Vatican scandals — the “sacking” of the Vatican bank president and the leaks of documents by the papal butler — were a “heavy cross” for Emeritus Pope Benedict XVI to bear, suggesting that Benedict's resignation was indeed linked to the scandals.