Deal imports American bottom-line accounting to Italy’s Catholic churches

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The main building of the Pontifical Lateran University.

Photo courtesy of By calu777, via Wikimedia Commons

The main building of the Pontifical Lateran University.

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VATICAN CITY (RNS) The new program brings a measure of American financial savvy to Italy's notoriously murky church finances, dovetailing with Pope Francis' push for reform and transparency.

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  • Betty Clermont

    Replacing his predecessor’s loyalists with his own is the only “reform” to Vatican finances made so far by this pope. The only “transparency” has been the Vatican Bank’s financial statement released last year showing the reform begun under Benedict XVI. According to the Financial Times “The scandal at the Vatican Bank” this was done under threat that the Vatican Bank would be barred from international financial markets if it didn’t clean up its act. The rest of the 40 plus Vatican departments’ finances are as opaque as ever.