Monday, March 25, 2013

Archbishop Claudio Maria Celli: Pope Francis to consider closing Vatican Bank

Pope Francis is to consider abolishing the Vatican Bank - which has been beset by a scandal over allegations of money-laundering - in a drive for greater transparency at the heart of the Catholic Church, according to a report by The Times in The Australian.

Archbishop Claudio Maria Celli, who has been tipped as a possible secretary of state, or "Vatican prime minister", said Francis would weigh up appeals made by two cardinals on the eve of his election for the bank - formally known as the Institute for Works of Religion (IOR) - to be scrapped.

He said the Pope would be guided by a desire for "transparency . . . and faithfulness to international laws or rules in this field", including those on money-laundering.

"The Pope will consider some suggestions because during the general congregations (the formal meetings that preceded the conclave), some cardinals were intervening about the problems of the IOR," Archbishop Celli said.