Posts Tagged Secretariat for the Economy
Despite an online petition calling on prelates ‘faithful to Christ’s teaching’ to abandon the 2015 Synod of Bishops on the family, due to perceptions of a ‘pre-determined outcome that is anything but orthodox,’ one of the summit’s most outspoken conservatives says ‘there’s no ground for anyone to walk out on anything.’
“Australian Cardinal George Pell, who heads the Vatican’s Secretariat for the Economy, told Crux on Friday (Oct. 16) that by the midway point of the Oct. 4-25 synod, concerns about stacking the deck circulating in some quarters have ‘substantially been addressed.’”
By John L. Allen, Jr., Cruxnow.com — Click here to read the rest of this story.
The C9 has finalized the proposal it will present to the Pope, who may decide to establish the congregation even before the whole reform plan is complete.
“The work of the C9 group, the council of nine cardinals tasked with studying the reform of the Roman Curia and helping the Pope in the government of the universal Church, concludes today (Sept. 16). After the establishment of the Secretariat for the Economy and the Secretariat for Communications, the next step will be the creation of a new congregation dedicated to the laity, the family and life issues …
“It was suggested on a number of occasions that lay people should be placed at the helm of the new congregation but in February this year, Fr. Lombardi said the top person in charge could not be a lay person. However, the possibility of lay people acting as secretaries or assistant secretaries of the congregation has not been excluded.”
By Andrea Tornielli, Vatican Insider, La Stampa — Click here to read the rest of this story.
The Catholic priesthood is aging at an alarming rate, and thousands of U.S. diocesan priests are expected to retire within the next few years. With most diocesan priest pension plans significantly underfunded, questions over where the money comes from to support them may point to a major crisis in the making …
“Half of all priests currently in active ministry also expect to retire by 2019, and most of them expect to receive the pension payments they’ve been promised. Church leaders have known for decades about the looming priest shortage and its implications for sustaining Catholic parishes as Eucharistic communities. Another, more hidden crisis lurks in diocesan pension reserves that are underfunded, many of them seriously …
“The hierarchy must admit that changes are needed in financial management. At the same time, priests and laity must demand more financial transparency and accountability. Pell (Cardinal George Pell, Prefect for the Secretariat for the Economy), referring to anticipated changes in the Vatican bank said, ‘There need to be changes in the economic area — not just with the so-called Vatican bank — but more generally there is work there to be done [and] a need to ensure that things are being properly done.’
“Let’s hope the American hierarchy gets the message.”
By Jack Ruhl, National Catholic Reporter — Click here to read the rest of this story.
Pope Francis today pressed his campaign to internationalize the Vatican’s financial management, replacing an all-Italian panel overseeing his anti-money laundering agency with a new group drawn from four different nations, including a Harvard professor and former official in the George W. Bush administration.
“The appointments came a day after the announcement that a Catholic business manager from Australia will hold a senior position in the pope’s new Secretariat of the Economy, designed to force fiscal transparency and discipline on all Vatican departments.”
By John L. Allen, Jr., The Boston Globe — Click here to read the rest of this story.
Click here to read related news about the Vatican bank, “Francis Monitors Vatican Bank Personally,” by ANSA.it.
Pope Francis has approved a set of sweeping moves to reorganize the financial and administrative structures of the Catholic church’s central bureaucracy, creating a new central office with wide control particularly of economic issues, the Vatican announced Monday (Feb. 24).
“Sydney Cardinal George Pell will head the new office, known as the Secretariat for the Economy. Announcing the news in a statement, the Vatican said Pell would have ‘authority of all the economic and administrative activity within the Holy See and the Vatican City State.’
“Francis’ decision to reorganize the Vatican’s economic and administrative structures comes after criticism in recent years that its operations, especially in financial matters, occur in secret and with little public accountability.”
By Joshua J. McElwee, National Catholic Reporter — Click here to read the rest of this story.