VATICAN CITY
International Business Times
By Athena Yenko | July 3, 2013
In the wake of the scandals that have plagued the Holy See, Pope Francis appointed a five-person crew solely tasked to wash the bank clean. This only goes to show that Pope Francis means business as he pressure the Vatican’s administrators’ to shape up.
As a result more evils were being ‘exorcised’ out of the holy institution.
In a report from Reuters on Tuesday, big-wig managers for Vatican bank, Institute for Works of Religion (IOR), Director Paolo Cipriani and Massimo Tulli resigned after another Vatican scandal involving Monsignor Nunzio Scarano.
Monsignor Scarano was accused of helping two people in smuggling 20 million euro to Italy from Switzerland. Ernest von Freyberg, the German president for IOR, will temporarily assume the position of the manager until such time that a replacement is selected. The IOR had also decided to create a new position of chief risk officer. The person to be appointed for the position will be task to work on improving the bank’s compliance with financial regulations.
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