Pope Francis considers closing scandal-riven bank

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The Australian The Times March 25, 2013 12:00AM

  • POPE Francis is to consider abolishing the Vatican Bank - which has been beset by a scandal over allegations of money-laundering - in a drive for greater transparency at the heart of the Catholic Church.
  • Archbishop Claudio Maria Celli, who has been tipped as a possible secretary of state, or "Vatican prime minister", said Francis would weigh up appeals made by two cardinals on the eve of his election for the bank - formally known as the Institute for Works of Religion (IOR) - to be scrapped.



    He said the Pope would be guided by a desire for "transparency . . . and faithfulness to international laws or rules in this field", including those on money-laundering.

  • "The Pope will consider some suggestions because during the general congregations (the formal meetings that preceded the conclave), some cardinals were intervening about the problems of the IOR," Archbishop Celli said.


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