Saturday, July 9, 2016

Pope Francis Cuts Wings of Vatican Finance Czar; Separates Managers,Supervisors of Vatican Assets

Pope Francis today (July 9, 2016) clipped the wings of his finance czar Cardinal George Pell by effectively removing many of the administrative functions of the Vatican's key financial office from his department, according to the Washington Post website.

 In a new law -- which takes effect today -- Francis reversed a 2014 law that had transferred the main operational section of the patrimony office to Pell's Secretariat for the Economy.

Francis says he was restoring these administrative functions to the APSA (Administratiton of the Patrimony of the Apostolic See) office because he realized there needed to be an "unequivocal and full separation" between those who manage Vatican assets (APSA) and those who supervise them (Pell).

Pell -- a longtime critic of the Vatican's financial inefficiencies -- had assumed control in a bid to assert authority over different areas of the Vatican's finances. Over time, however, Francis has trimmed his reach.

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