Pope Francis has made another important decision in the ongoing financial reform process of the Vatican. He stripped the State Secretariat of the State Secretariat’s authority to administer and administer all real estate and financial funds, and transferred this task to the office of the Roman Curia, which deals with Co. Regulatory Authority of the Apostolic Court (APSA) and serves as the treasury and central bank of the Vatican City and Holy See.
The State Department is the central monitoring and control body (dicastery) of the Roman Curia and works directly with the pope. It has three parts: The first part deals with the general affairs of the church, the second part deals with relations with the states, and the third is responsible for the diplomatic staff of the Holy See. The Secretariat is headed by the Cardinal̵7;s Secretary, now Pietro Parolin.
Pope Francis has stripped the House of Representatives from the State of Representatives to all financial funds and real estate assets.
Shortly after his election in 2013, Pope Francis began to respond to the wishes of cardinals in pre-conclave conferences to clean up Vatican finances. He began the complicated and arduous task of reforming all Vatican finances, and he established the Economic Secretariat in 2014 for this purpose. He then introduced broad-based legislation, removed personnel when negligence or scandals emerged, and asked Vatican prosecutors to intervene when necessary and “follow up with evidence wherever it leads.” come.”
As part of that continuous reform effort, he made this new decision, also amid a recent scandal involving a property purchase on Sloane Avenue in central London led by the Secretary of State. Transactions are conducted and not only lead to losses. money but also embezzlement, corruption, extortion, a resignation of a cardinal, the removal of two from the Holy See diplomatic corps and a judicial investigation is believed to lead to prosecution. The scandal has also damaged the Vatican’s image and reputation, negatively impacted its mission of evangelization, and caused concern among believers who gave money to charity. of the Pope, also administered by the State Department.
Today, the Vatican announced the Pope’s decision to publish a letter that Pope Francis wrote to Cardinal Pietro Parolin, Foreign Minister, on August 25, informing him of this decision and asked him to arrange a meeting with the relevant Vatican staff to resolve it. finance to make it work.
Today, the Vatican announced the Pope’s decision to publish a letter that Pope Francis wrote to Cardinal Pietro Parolin, Foreign Minister, on August 25.
Pope Francis began the letter by explaining that during the reform of the Roman Curia, he “pondered and prayed” in a way most suitable to provide a better organization for economic activities and wealth. of the Vatican so that they are “evangelized, transparent and effective.” . “
As part of this reform, he said, “the most important thing is to clearly define the mission of each organization. [of the Vatican and the Holy See] in the economic and financial sector, and the corresponding way of exercising management and control “to avoid overlap, duplication and fragmentation” that damages the proper functioning of the Roman Curia. “
He emphasized the fact that “the State Council is without any doubt the most direct and strict governing body of the Pope’s work in his mission, and represents an essential point of reference for the life of the Curia and the Curia. that is part of it. “At the same time, he said,” neither is it necessary nor an opportunity “that the Secretariat” should perform all functions assigned to other departments. ” For this reason, the pope said, the “principle of subsidies” should be as widely applied in the Vatican as “in economic and financial matters.”
The pope said the “principle of subsidies” should be as widely applied in the Vatican as “in economic and financial matters.”
He decided that the State Secretariat gave APSA “the administration and administration of all financial funds and real estate assets.” He directs that the Vatican “get out as soon as possible” from its investments in London and that the Centurion Global Fund has been managing Vatican investments for many years, “or at least treating them in a eliminating manner. any reputational risk ”, that is, the reputation of the Holy See. The Centurion Foundation charged a fee for Vatican services and suffered losses in 2018 as well. Its value to the Holy See is highly questionable.
He demanded that “all of the funds so far managed by the State Secretariat be included on the Holy See’s consolidated balance sheet.” This is very important, because so far they have not been on that balance sheet and are mostly unknown to the public. Cardinal George Pell, while still president of the Economic Secretariat, was blocked by the Archbishop (now cardinal) Angelo Becciu – then Alternate, or chief of staff – blocked when he tried to put the funds This is audited by an outside company.
Pope Francis also pointed out that “in economic and financial matters,” the State Secretariat should operate with the same “approved budget” as all other Vatican offices and offices, except The deduction of funds for “exclusive matters” must then be approved and controlled. by a previously established committee to deal with such issues. This seems to indicate, although not yet made clear, that the State Department will no longer control funding to entities such as the Embassy and other Vatican diplomatic missions.
Pope Francis pointed out that “in economic and financial matters,” the State Secretariat must operate with the same “approved budget” as all other Vatican bodies.
He decided that the Secretariat for Economics, now headed by a Spanish Jesuit, Father Juan Antonio Guerrero, should “exercise control and vigilance over financial affairs and administration in all entities of the Roman Curia, as well as those relating to it or references to it. ”
Pope Francis decreed that “in economic and financial matters,” the National Secretariat “would no longer be responsible for alerting and controlling any entity of the Holy See, or those involved. to the Holy See or to those related to it. “
He concluded that since the State Secretariat would no longer have to manage or manage finances or other assets, the body should redefine the role of its administrative body and, in fact, hit price to see if it needs to exist or not. It is worth mentioning that this was the property handling office in London, and responded directly to Archbishop Becciu, and his staff who were then under judicial investigation could end up in a lawsuit.
Pope Francis concluded his letter to Cardinal Parolin by asking him to convene a meeting with his Alternate at the State Department, Archbishop Edgar Penna Para; President of APSA, Archbishop Nunzio Galantino; and the Director General of the Economic Secretariat, Father Juan Antonio Guerrero, to oversee the transition of these funds from the State Secretariat to APSA
That meeting, chaired by Pope Francis, was held yesterday, November 4, to implement the Pope’s decision to organize the transfer of management and administration of the said funds, and delegates control of these similar funds to the Economic Secretariat. The total transfer amount will be completed within three months.