July 7, 2011. (Romereports.com)
The pope has appointed a new president of the Vatican department known as the Administration of the Patrimony of the Apostolic See (APSA). He will be responsible for overseeing the properties owned by the Holy See that brings in funds for the function of the Roman Curia. The 68 year old Archbishop Domenico Calcagno from Genova, Italy will be taking over from the Italian Cardinal Attilio Nicora. Until now, Calcagno was held the number two position in the department.
The 74 year old Cardinal Nicora is stepping down in order to preside over the Vatican's new Financial Information Authority. It will serve as a “watchdog” for Vatican money, guarding against money laundering.
It also brings the Holy See up to date on international requirements in order to gain recognition as 'a non-EU equivalent State'