Over at Real Clear Religion, Acton’s director of research, Samuel Gregg discusses Pope Francis’s recent appointment of Cardinal George Pell to “Secretariat of the Economy.” The secretariat has authority over the economic activities of the Vatican City State and the Holy See.
Gregg explains his take on Cardinal Pell and this appointment:
It may well turn out to be the greatest challenge of his priestly life.
You don’t need to watch the Godfather Part III to know that the Catholic Church has struggled for several decades to address some real problems in the management of the Holy See’s finances. Just looking at an organizational chart of the various units involved in some way in administering the Holy See’s resources is enough to make even devout Catholics think that maybe Dan Brown’s novels are onto something.
What’s often called “the Vatican Bank” — it’s more formal title is the Istituto per le Opere di Religione (IOR) — is just one of several institutions that the Holy See has created over the years to manage various resources. In many ways, a far more important structure is the lesser-known “Administration of the Patrimony of the Apostolic See” (APSA), which, as it stated under its governing document, serves “to administer the properties owned by the Holy See in order to provide the funds necessary for the Roman Curia to function.” (more…)