Philip's Feed
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.”

Jul 7, 2014

Pope to hold first meeting with sexual abuse victims

VATICAN CITY (Reuters) – Pope Francis holds his first meeting with victims of sexual abuse by priests on Monday, an encounter that some say should have happened long ago, and victims from his native Argentina say they are pained over their exclusion.

Six victims, two each from Ireland, Britain and Germany, will attend the pope’s private morning Mass in his Vatican residence and then meet with him afterwards, according to people who organized the meeting.

Jul 1, 2014

Italy bishop says 10-year ban on godfathers will help stop Mafia spread

VATICAN CITY (Reuters) – A leading Roman Catholic bishop in southern Italy wants a 10-year ban on naming godfathers to stop the Mafia and other crime groups from using religion to extend the tentacles of their families.

Scenes of mobsters taking part in the Baptisms of newborns as a godfather, or “padrino”, thereby establishing a special bond with future generations of potential criminals, are replete in Mafia films such as “The Godfather” and “Prizzi’s Honor”.

Jul 1, 2014

Vatican bank’s head to quit as shake-up bites, sources say

VATICAN CITY, July 1 (Reuters) – The Vatican bank’s chairman
is to step down as soon as next week as part of the
restructuring of an institution that has been an embarrassment
to the Catholic Church for decades, Vatican sources said on
Tuesday.

But the sources, who spoke on the condition of anonymity,
disagreed over whether Ernst von Freyberg was leaving willingly
or whether he was being pushed out over differences within the
Vatican about the pace of reform.

Jun 29, 2014
via FaithWorld

Pope Francis says communists are closet Christians who’ve “stolen our flag”

Photo

(Pope Francis at the Vatican, June 28, 2014. REUTERS/Riccardo De Luca/Pool )

Pope Francis, whose criticisms of unbridled capitalism have prompted some to label him a Marxist, said in an interview published on Sunday that communists had stolen the flag of Christianity.

The 77-year-old pontiff gave an interview to Il Messaggero, Rome’s local newspaper, to mark the feast of Saints Peter and Paul, a Roman holiday.