Loading
Holy See announces new economic, communications framework
Cardinal George Pell, prefect of the Secretariat for the Economy, speaks at the Vatican press office, July, 9, 2014. Credit: Daniel Ibáñez/CNA.
Cardinal George Pell, prefect of the Secretariat for the Economy, speaks at the Vatican press office, July, 9, 2014. Credit: Daniel Ibáñez/CNA.
Facebook Twitter Google+ Pinterest Addthis

.- The Vatican announced Wednesday major changes to both its economic and communications frameworks, including an increased role for the Secretariat for the Economy.

Also announced were the appointment of a new president for the 'Vatican bank' , a committee to study the Vatican's pension system, and a new committee for Vatican communications.

“There are many challenges and much work ahead,” said Cardinal George Pell, prefect of the Secretariat for the Economy, at a news conference held July 9, during which he presented the changes to the Vatican economy.

By a July 8 motu proprio, “Confermando una tradizione,” Pope Francis modified the section of “Pastor bonus”, the apostolic constitution regulating the Roman Curia, which governs the Administration of the Patrimony of the Apostolic See.

The motu proprio transferred the competencies of APSA's ordinary section to the Secretariat for the Economy.

The transfer of APSA's ordinary section to the Secretariat for the Economy will be managed by a small project management office led by Danny Casey, who was a trusted advisor to Cardinal Pell when he was Archbishop of Sydney.

With the transfer of competencies, APSA will serve as a treasury or central bank for the Holy See and Vatican City.

The 'Vatican bank”, or IOR, meanwhile, will continue its reform under a new executive team.

Jean-Baptiste de Franssu, a Frenchman who is a member of the Council for the Economy, is the IOR's new president.

de Franssu told journalists, “it is a great responsibility that I have accepted, and I do so with great humility to help the Holy Father and the Church, to increase their work for the poor and for the propagation of the faith.”

Along with de Franssu, three lay members of the new IOR board were appointed: Clemens Boersig of Germany; Michael Hintze of the U.K.; and Mary Ann Glendon of the U.S. Two additional lay members will be announced later.

Monsignor Alfred Xuereb, secretary general of the economic secretariat, will be a non-voting secretary of the IOR board, and Msgr. Battista Ricca will remain its prelate. The cardinal commission for the Vatican bank will now include Cardinal Josip Bozanic of Zagreb, as well as its five existing members.

The new board will carry on the process of reform of the IOR; over the next three years, its statutes will be revised to reflect three priorities: strengthening its business foundation; shifting asset management to a separate office; and focusing the IOR on giving financial advice and payment services for clergy, congregations, dioceses, and lay Vatican employees.

Regarding Vatican pensions, the Council for the Economy has established a committee to make proposals for their revision.

“The pensions being paid today and for the next generation are safe,” but “the fund needs to ensure there are sufficient funds for future generations in changing environment,” noted Joseph Zahra, the economic council's deputy.

The Vatican has also appointed a committee to reform Vatican media and communications, with members coming from both the Vatican and internationally.

The international experts appointed are Christopher Patten of the U.K., who will be the committee's president; Greg Erlandson of the U.S.; Daniela Frank of Germany; Fr. Eric Salobir, O.P., of France; Leticia Soberon of Spain; and George Yeo of Singapore.

Its Vatican staff are Msgr. Paul Tighe, secretary of the Pontifical Council for Social Communications; Giacomo Ghisani of Vatican Radio; Msgr. Carlo Maria Polvani of the Secretariat of State; Msgr. Lucio Adrian Ruiz of the Vatican Internet Service; and Giovanni Maria Vian of L'Osservatore Romano.

The committee is entrusted to draft within 12 months a reform plan, with the task to adapt the Holy See media to changing media consumption trends, enhance coordination and achieve progressively and sensitively substantial financial savings.

Cardinal Pell announced that “following the recent positive experiences with initiatives like the Pope App and the Holy Father’s twitter account, digital channels will be strengthened to ensure the Holy Father’s message reach more of the faithful around the world, especially young people.”

Tags: Vatican Bank, APSA, IOR, Secretariat for the Economy

Ads by AdsLiveMedia(What's this?)

* The number of messages that can be online is limited. CNA reserves the right to edit messages for content and tone. Comments and opinions expressed by users do not necessarily reflect the opinions or beliefs of CNA. CNA will not publish comments with abusive language, insults or links to other pages

RESOURCES »

Ads by Google (What's this?)

Featured Videos

An Indian contribution to the Vatican's Synod on the Family
An Indian contribution to the Vatican's Synod on the Family
Christ Cathedral CNA video Sept 2014
Alejandro Bermudez of CNA accepts ice bucket challenge
'The Real Albania,' remembering those who fled
Pope Francis in Albania, "one of the most important visits of the post-communist era in Albania"
Pope Francis greets paralyzed man who risked all to see him
Franciscans on the banks of the Tiber in Rome, working for the New Evangelization
Pilgrimage from Czech Republic to Assisi and Rome for intentions
Testimony of young Indian who met Pope in Korea
Preparations of the Closing Mass of 6th Asian Youth Day
Missionary of Charity, Korea
Testimony of Christian Love during Pope's Visit to Korea
Religious Sisters in South Korea react to Pope Francis kissing a baby
Warm atmosphere during Holy Mass at Daejeon World Cup Stadium
Images inside Pope Francis flight to South Korea
The tombs of the early Christians
Missionaries of Africa, called "the White Fathers"
Italian youth give testimony after mission to Peru
Interview with Iraqi Ambassador to the Holy See on the persecution of Christians
New book 'The Vatican unknown'
Oct
31

Liturgical Calendar

October 31, 2014

Friday of the Thirtieth Week in Ordinary Time

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Lk 14:1-6

Gospel
Date
10/31/14
10/29/14
10/28/14

Daily Readings


First Reading:: Phil 1: 1-11
Gospel:: Lk 14: 1-6

Saint of the Day

St. Romuald »

Saint
Date
10/31/14

Homily of the Day

Lk 14:1-6

Homily
Date
10/31/14
10/29/14
10/28/14