Every Sunday priests will rebuke society for its greed and trot out the old slogan of "blessed are the poor" and lecture the gullible about the evils of materialism. During the week however the church is a little less noble. 'Behind a disguised offshore company structure, the church's international portfolio has been built up over the years, using cash originally handed over by Mussolini in return for papal recognition of the Italian fascist regime in 1929. Since then the international value of Mussolini's nest-egg has mounted until it now exceeds £500m. In 2006, at the height of the recent property bubble, the Vatican spent £15m of those funds to buy 30 St James's Square. Other UK properties are at 168 New Bond Street and in the city of Coventry.' (Guardian, 22 January) RD
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