VATICAN CITY
news.com.au
THE Vatican has found hundreds of millions of euros during an overhaul of the system aimed at transforming the once-murky institution into a paradigm of transparency.
“WE have discovered that the (Vatican’s financial) situation is much healthier than it seemed,” the pope’s economy czar, Australian cardinal George Pell, told Britain’s Catholic Herald.
“Some hundreds of millions of euros were tucked away in particular sectional accounts and did not appear on the balance sheet,” he said in an essay published on Thursday which set out to explain how the papal bank, dogged by accusations of corruption, is cleaning up its act.
Pell, picked by Pope Francis to head up the Secretariat for the Economy and oversee the reforms, spoke frankly about the Vatican’s former practice of secrecy and allegations of money laundering which dogged the bank for decades.
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