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Pope Francis

Pope Francis: No people is criminal and no religion is terrorist

February 17, 2017. Pope Francis has sent an important message to the Meetings of Popular Movements that is taking place in Modesto (California). The pope denounces the "moral blindness of this indifference”: "under the guise of what is politically correct or ideologically fashionable, one looks at those who suffer without touching them. But they are televised live; they are talked about in euphemisms and with apparent tolerance, but nothing is done systematically to heal the social wounds or to confront the structures that leave so many brothers and sisters by the wayside”.
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The government of the Order of Malta will elect the successor of the Grand Master in April

February 15, 2017. On April 29, the Council Complete of State, the Order’s constitutional body, will elect the next Grand Master of the Sovereign Order of Malta (or, as provided for in the Constitution, a Lieutenant of the Grand Master, to hold office for a year).
Pope Francis

Pope names a Special Envoy for Medjugorje

< style> February 11, 2017. Pope Francis has asked Henryk Hoser, S.A.C., bishop of Warsaw-Prague (Poland), to go to Medjugorje as Special Envoy of the Holy See. According< g> the Vatican, "the mission has the aim of acquiring a deeper knowledge of the pastoral situation there and above all, of the needs of the faithful who go there in pilgrimage, and on the basis of this, to suggest possible pastoral initiatives for the future”.

The Vatican bank by the numbers

2014-03-23

The Institute for the Works of Religion is the main financial center for the Holy See. It employs 114 people, and oversees 18,900 accounts worth over $8.6 billion. The IOR, more commonly known as the Vatican bank, has over $1 billion in equity, and in 2012 posted a $119 million profit.

In 1942, the Vatican founded the bank to provide Catholic institutions a secure way to manage their assets, without losing money. Its services are restricted to religious orders, Vatican employees, Catholic organization affiliated with the Vatican, and ambassadors accredited to the Holy See.

Soon, the Vatican bank's favorable conditions attracted questionable clients, causing scandals and headaches for the Vatican. As a result, Benedict XVI and Pope Francis ordered a review, to bring the troubled institution up to par with international norms on transparency, and fighting money laundering. The Council of Europe said these changes are on the right path.

Last year, the Vatican hired consulting firm Promontory Group to scrutinize the bank's accounts for missing information. In addition, it appointed Ernst & Young to review the IOR, as part of a yearly internal audit the Vatican's Financial Information Authority requires by law.


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