Helping The Poor?

At first it sounds reassuring. 'Pope Francis on Monday revolutionized the Vatican's scandal-plagued finances, inviting outside experts into a world often seen as murky and secretive and saying the church must use its wealth to help the poor.' (New York Times, 24 February) A department known as the Administration of the Patrimony of the Apostolic See (APSA), which manages financial holdings and real estate, will formally assume the role of the Vatican's central bank the statement said. The role and structure of the separate Vatican bank, formally known as the Institute for Works of Religion (IOR), will not change for the time being. Both the IOR and APSA have been at the centre of scandals. Italian magistrates are investigating the IOR on allegations of money laundering. Monsignor Nunzio Scarano, who worked as a senior accountant at APSA for 22 years and who had close ties to the IOR, is currently on trial accused of plotting to smuggle millions of dollars into Italy from Switzerland to help rich friends avoid taxes. Reassured? RD