The action outlined in a new law published Thursday marks Francis’ latest initiative to centralize Vatican assets so they can be managed properly, following years of mismanagement that led to huge losses and, prosecutors allege, criminal wrongdoing.
Francis previously stripped the Vatican’s secretariat of state of its 600 billion-euro portfolio and ordered the assets transferred to the Vatican’s patrimony office following a scandal involving a 350 million-euro investment in a London property. Vatican prosecutors have charged 10 people, including a cardinal, of defrauding the Holy See of tens of millions of euros through the London venture.The new law makes clear that the Holy See owns any asset, security or property owned or acquired by a Vatican office or affiliated institution. This “ecclesiastic public property” is “entrusted” to individual departments to use but is destined for the universal needs of the church to fulfill its mission, the law states.
poppy_haze it worked
based
No one is mentioning how the catholic church has $635 billion in assets when people are starving all around the world. Is this hoarding in the name of god not the definition of evil?
🤔
tbh this is how i thought it worked already
Good, Pope Francis continuing his crusade against corruption and making sure that the Vatican actually owns its assets.
SOCIALISM IS WHEN THE POPE OWNS STUFF
Nonzi83 Qui non si capisce nulla attendo commenti
BREAKING: Ioannes Guaidos has just been proclaimed antipope
'The pope also centralized and overhauled the Vatican's investment strategy to ban speculative investments and to prioritize prudent investing in industries that promote the common good.' Profound. Thank you for the report.
We rocking with feudalism 🤔⁉️
Catholic Church is actually existing socialism
These being two reactions to this is so funnyyyy
The pope! How many divisions does he-
The conspiracy nuts are gonna have a field day with this.
new AES just dropped
SMaurizi I would have assumed that was already the case, but it just goes to show.
That money better not go anywhere. It does belong to the God you have been preaching under.. So does the Vatican, and Rome.
I'm happy about this
Like for an example “ The Mafia”
cool...medieval style feudalism in the 21st century. What could possibly go wrong?
He should also make it where priest can’t drive around in hummers and jaguars, especially those that are pastors in poor communities.
Don't let all the conservative Catholics know.
The pope is cracking down on corruption. I respect it. However, It could be a dangerous move because now if there’s issues monetarily it looks bad on him since he essentially has full control over the Vatican’s finances.
Wait, this wasn’t the case all along?
Uncommon Catholic W
His holiness should do the same to every church, school and university that declares to be Catholic.
So socialism.. got it!