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Pope warns the Vatican pension fund needs urgent reform as employees demand transparency

Rome, Italy AP Pope Francis, who has imposed a series of cost-cutting measures across the cash-strapped Vatican, warned Thursday that the city state’s troubled pension fund needs urgent reform to guarantee future obligations. Vatican employees responded by expressing concern that their compensation might be targeted in any further cost-cutting to shore up the pension system, and […]

Pope Francis tells Vatican media operations to expect budget cuts

Vatican City Reuters Pope Francis on Thursday told employees of the Vatican’s extensive multi-language media operations to expect budget cuts as part of wider belt-tightening efforts that have recently targeted cardinals. In a meeting with the department that oversees the Vatican’s newspaper, TV operations, and radio and internet broadcasts, the Pope did not offer specifics. […]

Vatican tribunal defends conviction of senior cardinal for misappropriation of funds

Vatican City Reuters A Vatican tribunal on Wednesday defended its 2023 decision to convict a senior Catholic cardinal of misappropriation of funds, saying the prelate was “aware of all the steps” in a botched $US200 million London real estate deal. Cardinal Angelo Becciu, the most senior church official ever to stand trial before a Vatican […]

Vatican cuts monthly pay for Catholic cardinals in Rome

Vatican City Reuters The Vatican is cutting the already shrinking pay packages of cardinals who head the Catholic Church’s top offices in Rome by about 10 per cent or €500 a month as the Pope pursues a “zero deficit” agenda of greater thrift. The cardinals will no longer receive two monthly allowances that are often […]

Pope Francis tells Catholic cardinals he wants “zero deficit” agenda

Vatican City Reuters Pope Francis called on the world’s Catholic cardinals, many of whom live in Rome and lead Vatican offices, to pursue a “zero deficit” agenda to improve the Vatican’s use of its economic assets. The pontiff did not offer many specifics in a letter published by the Vatican on Friday, but he said […]

Vatican reports financial gains as it prepares for new profit strategy

Vatican City RNS After sweeping financial reforms and the economic challenges of the COVID-19 pandemic, the Vatican has reported a positive balance, even as it continues to struggle to maintain the operational costs of the Roman Curia. In its 2023 budget statement, published on Monday, the Administration of the Patrimony of the Apostolic See – […]

Senior cardinal convicted in Vatican corruption trial

Cardinal Giovanni Angelo Becciu, who has been caught up in a real estate scandal, speaks to the media a day after he resigned suddenly and gave up his right to take part in an eventual conclave to elect a pope, near the Vatican, in Rome, Italy, on 25th September, 2020.

Vatican City Reuters Cardinal Angelo Becciu, the most senior Catholic Church official ever to stand trial before a Vatican criminal court, was convicted on Saturday of embezzlement and fraud and sentenced to five-and-a-half years in jail. The Italian prelate’s lawyer, Fabio Viglione, told reporters in the courtroom he would appeal, saying his client was innocent. […]

Vatican prosecutor seeks seven-year sentence for cardinal

Cardinal Giovanni Angelo Becciu near the Vatican, in Rome, Italy, on 25th September, 2020.

Vatican City Reuters The prosecutor at a Vatican corruption trial linked to a botched London real estate deal asked a court on Wednesday to convict Cardinal Angelo Becciu and sentence the former Holy See power broker to seven years and three months in jail. Prosecutor Alessandro Diddi made the request at the end of his […]