Vatican City, Jul 7, 2011 / 10:57 am
Archbishop Domenico Calcagno has been appointed by Pope Benedict as the head of the Vatican’s financial policy department, following the resignation of Cardinal Attilio Nicora earlier today.
However, Cardinal Nicora will stay on as head of the Vatican’s financial watchdog body, the Financial Information Authority. The paring down of Cardinal Nicora’s duties is being seen, in part, as a further attempt by the Vatican to comply with international rules on money laundering.
“If the Holy See hopes for success in getting onto the European Union’s ‘White List,’ this is a move it has to make,” Vatican spokesman Fr. Federico Lombardi, S.J., said to CNA July 7. The “White List” is the E.U.’s register of countries that are in compliance with the union’s rules aimed at combating money laundering.
“If you are in charge of an economic institution it is better if the same person isn’t also responsible for monitoring it,” Fr. Lombardi said.
“There were procedural ways to make sure there was no contradiction in duties but the situation is clearer now.”
The Vatican financial policy body—officially called the Administration of the Patrimony of the Apostolic See – was created in 1967 to administer the estates of the Holy See and provide the necessary operating funds for the Roman Curia.