Tag: Vatican bank

• Monday, January 15th 2018 - 02:41 UTC

  Francis arrives in Chile to a divided church with threats of violence and protests over abuses allegations

  

  Pope Francis' trip to South America is supposed to be all about peace, unity and hope. But the pontiff could also be welcomed with protests, threats of violence and controversy over allegations of abuses by the Catholic Church. Argentina born Francis comes to his home continent for a two-country, six-city apostolic visit that starts in Chile this Monday and ends in Peru a week later.

• Monday, February 29th 2016 - 06:58 UTC

  “Cordial” (frosty) 22 minutes meeting between Francis and president Macri

  

  The long-awaited meeting between Argentine President Mauricio Macri and Pope Francis ended up being a frosty encounter that lasted a mere 22 minutes. The Vatican officially described the sit-down as “cordial,” and Macri told reporters that the pontiff asked him to fight corruption, poverty and drug-trafficking in the country.

• Wednesday, July 9th 2014 - 07:35 UTC

  Clean-up process and 'zero tolerance' in Vatican bank plummets profits

  

  The Vatican bank has blocked the accounts of more than 2,000 clients and ended some 3,000 “customer relationships” as part of a clean-up process that nearly wiped out its profit, its 2013 financial statement showed on Tuesday.

• Monday, March 10th 2014 - 06:04 UTC

  Pope Francis names finance personalities to the Vatican Economy Council

  

  Pope Francis named top laymen from the worlds of finance and economics to a new Vatican Council for the Economy, intended to improve scrutiny of the Holy See's scandal-plagued accounts.The creation of the 15-member council is a major step in bringing lay people into the Vatican, and reflects a drive by Francis to make changes to an establishment often seen as murky and secretive.

• Tuesday, February 25th 2014 - 04:13 UTC

  Pope overhauls Vatican finances and names Secretariat for the Economy

  

  Pope Francis has taken his boldest step yet to overhaul the Vatican's scandal-plagued finances, creating a new department with broad powers to oversee all of its economic and administrative affairs, the Vatican announced on Monday. The Secretariat for the Economy will answer directly to the pope and will be headed by Australian Cardinal George Pell, currently the archbishop of Sydney.

• Friday, January 17th 2014 - 07:34 UTC

  Pope reshuffles the Vatican bank and sacks four cardinals from oversight commission

  

  Pope Francis shook up the scandal-plagued Vatican bank, removing four of five cardinals from an oversight body in a break with the clerical financial establishment he inherited from his predecessor. It was his latest move to get to grips with an institution that has often been an embarrassment for the Holy See and which he has vowed to either reform or close.

• Wednesday, October 2nd 2013 - 15:46 UTC

  Vatican bank opens its accounts for the first time, and there are surprises

  

  In a bid for transparency and reform, the Vatican bank openly published a financial report for the first time on Tuesday. But the report came amid new accounts of vague withdrawals and deposits made to and by the organization.

• Saturday, August 31st 2013 - 17:31 UTC

  Chronicle of a removal foretold: Francis names new ‘prime minister’

  

  Pope Francis and his orthodox reform approach sets a new tone for a Vatican beset by scandals by naming a veteran diplomat as secretary of state, a role often called the “deputy pope”.

• Thursday, August 8th 2013 - 14:00 UTC

  Pope tightens money-laundering standards for Vatican financial activities

  

  As part of the Vatican's ongoing efforts to ensure that all its financial activity complies with international standards, particularly those aimed at preventing money laundering and the financing of terrorism, Pope Francis has expanded the role and the reach of the Vatican's Financial Intelligence Authority.

• Wednesday, July 31st 2013 - 16:17 UTC

  Vatican bank opens its books to comply with ‘honest and transparent’ promise

  

  The Vatican bank opened its web site www.ior.va on Wednesday as it steps up efforts to improve its tarnished image after a succession of financial scandals and repeated criticisms of its lack of transparency.