The Vatican's economy minister said hundreds of millions of euros have been found "tucked away" in accounts of various Holy See departments without having appeared in the city-state's balance sheets, the Reuters website reports today (December 5, 2014).
Australian Cardinal George Pell -- who was named the Vatican's economy minister last February by Pope Francis -- wrote that the discovery meant overall Vatican finances were in better shape than previously believed.
"In fact, we have discovered that the situation is much healthier than it seemed, because some hundreds of millions of euros were tucked away in particular sectional accounts and did not appear on the balance sheet," he wrote in Britain's Catholic Herald Magazine.
Pell did not suggest any wrongdoing, but said Vatican departments had long had "an almost free hand" with their finances and followed "long-established patterns" in managing their affairs.
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