Pope pushes on with Vatican financial reforms

Amy Scott Mar 13, 2015
HTML EMBED:
COPY

Pope pushes on with Vatican financial reforms

Amy Scott Mar 13, 2015
HTML EMBED:
COPY

Friday marks the second anniversary of the election of Pope Francis. In just two years, he’s credited with breathing new life into the Catholic Church with his focus on reform and repairing the church’s reputation.

One priority has been cleaning up the Vatican Bank, created during World War II to manage money for the Catholic Church. Over the years it became mired in allegations of money laundering and tax evasion.

“So far, he’s been the new sheriff in town,” says Gerald Posner, author of the book “God’s Bankers: A History of Money and Power at the Vatican.” “He’s really passing reforms that—if he’s there long enough—will change this bank into a boring, mid-level, sort of government bank, and the wild, crazy days of the past will be over.”

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.