Reader, link: "Popes and demons: Mysterious Vatican
bank poses problem for new pontiff"
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(Thanks, R. :) Reader R. sends us this link to an article in Canada's National Post: Popes and demons: Mysterious Vatican bank poses problem for new pontiff http://www.nationalpost.com/m/wp/news/world/blog.html?b=news.nationalpost.com/2013/03/08/vatican-bank Excerpt: ===== The very notion of a church bank speaks to the awkward interface between the spiritual and temporal, represented by the pope being both leader of the Catholic Church and sovereign of the Vatican City state. Unlike many Vatican institutions, the Vatican bank is not of antique origin, having been formed in 1942 by Pius XII, although it had older antecedents. Its purpose is to protect and administer the property and funds intended for the church’s works. Unlike true national central banks, it does not set monetary policy or involve itself in currency maintenance, as the Vatican uses the euro. Also unlike most banks, its surplus or profit is supposed to go toward religion or charity. As it is not a true central bank, and with the Vatican not a full member of the European Union, its relationship with strict regulation has been more nebulous and its ends of religion or charity have, likewise, not always been clear. “One would be surprised at the acceptance of risky relationships and risky behaviour for an organization like the Vatican. But, objectively, I’ve seen it. It is hard to understand, but it is true,” said Mr. Calvi. ===== Full article: http://www.nationalpost.com/m/wp/news/world/blog.html?b=news.nationalpost.com/2013/03/08/vatican-bank ************************************************************************** |
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