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Aug 4, 2014

Insight – Vatican bank’s TV investment loss showed cardinal’s power

VATICAN CITY (Reuters) – Two years ago, the Vatican bank invested 15 million euros in an Italian television company that makes family movies, including films about popes and a series about a bike-riding country priest who helps police solve crimes.

The Vatican’s then Secretary of State Tarcisio Bertone ordered the investment in Lux Vide SpA, which he said shares the Holy See’s “lofty goal of evangelisation”.

Aug 4, 2014

Vatican bank’s TV investment loss showed cardinal’s power

VATICAN CITY (Reuters) – Two years ago, the Vatican bank invested 15 million euros in an Italian television company that makes family movies, including films about popes and a series about a bike-riding country priest who helps police solve crimes.

The Vatican’s then Secretary of State Tarcisio Bertone ordered the investment in Lux Vide SpA, which he said shares the Holy See’s “lofty goal of evangelization”.

Jul 14, 2014
via FaithWorld

Pope Francis says about two percent of Catholic priests are pedophiles: paper

Photo

(Pope Francis signs an autographs on one of his books as he arrives to lead a prayer in Isernia, south of Italy, July 5, 2014. REUTERS/Ciro De Luca)

About two percent of Roman Catholic clerics are sexual abusers, an Italian newspaper on Sunday quoted Pope Francis as saying, adding that the pontiff considered the crime “a leprosy in our house”.

Jul 9, 2014

Vatican restructures scandal-hit bank, vows transparency

VATICAN CITY, July 9 (Reuters) – The Vatican on Wednesday
said it would separate its bank’s investment business from its
Church payments work to try to clean up after years of scandal,
and vowed to become a “model of financial transparency”.

French businessman Jean-Baptise de Franssu was named as the
new head of the bank, officially known as the Institute for
Works of Religion (IOR), succeeding German lawyer Ernst Von
Freyberg, who has run the bank since February 2013.

Jul 9, 2014

Vatican restructures scandal-hit bank, French financier is new head

VATICAN CITY, July 9 (Reuters) – The Vatican said on
Wednesday it will separate its bank’s investment business from
its Church payments work to try to clean up after years of
scandal including allegations of money laundering and tax
evasion.

French businessman Jean-Baptise de Franssu was named as the
new head of the bank, officially known as the Institute for
Works of Religion (IOR), succeeding German lawyer Ernst Von
Freyberg, who has run the bank since February 2013.

Jul 9, 2014

Britain’s Patten to lead Vatican communications re-vamp drive

VATICAN CITY, July 9 (Reuters) – Former Hong Kong Governor
Chris Patten will head a committee to advise Pope Francis on how
to re-vamp and modernise the Holy See’s media strategy, the
Vatican said on Wednesday.

Patten, 70, one of Britain’s most experienced politicians,
will be president of an 11-member committee made up of six
experts from around the world and five Vatican officials.

Jul 8, 2014
via FaithWorld

Vatican bank clean-up and account closures wipe out 2013 profit

Photo

(The Institute for Works of Religion (IOR), or Vatican bank, is located in the round tower at the right in this view of Vatican City in 2011. REUTERS/Stringer)

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.

Jul 8, 2014

Pope begs forgiveness for “sacrilegious cult” of Church sexual abuse

VATICAN CITY (Reuters) – Pope Francis told victims of sexual abuse by Roman Catholic clerics the Church should “weep and make reparation” for crimes he said had taken on the dimensions of a sacrilegious cult.

“For some time now I have felt in my heart deep pain and suffering,” he said in his strongest comments yet on the crimes, delivered in the homily of a Mass with adult victims on Monday. “So much time hidden, camouflaged with a complicity that cannot be explained until someone realised that Jesus was looking.”

Jul 7, 2014

Vatican bank to be scaled back, restructured – sources

VATICAN CITY, July 7 (Reuters) – The Vatican bank will soon
hive off its investment activities and transform itself into an
institution dedicated mostly to payment services for the Roman
Catholic Church, Vatican sources said on Monday.

The details of the down-sizing will be announced on
Wednesday by Australian Cardinal George Pell, who heads the
Secretariat of the Economy set up earlier this year to oversee
Vatican finances and stem scandals that have embarrassed the
Church for decades.

Jul 7, 2014

Pope apologizes for ‘sacrilegious cult’ of Church sexual abuse

VATICAN CITY (Reuters) – Pope Francis told victims of sexual abuse by Roman Catholic clerics the Church should “weep and make reparation” for crimes he said had taken on the dimensions of a sacrilegious cult.

“For some time now I have felt in my heart deep pain and suffering,” he said in his strongest comments yet on the crimes, delivered at a Mass with adult victims. “So much time hidden, camouflaged with a complicity that cannot be explained until someone realized that Jesus was looking.”