The Catholic Church recognizes the validity and apostolic succesion of the Orthodox Churches. Thus it recognizes that there is a bond of communion between the Orthodox and the Catholic Churches.
The Council, for its part, considered the Churches of the East with objectivity and deep affection, stressing their ecclesial nature and the real bonds of communion linking them with the Catholic Church. The Decree on Ecumenism points out: “Through the celebration of the Eucharist of the Lord in each of these Churches, the Church of God is built up and grows in stature”. It adds, as a consequence, that "although these Churches are separated from us, they possess true sacraments, above all-by apostolic succession- the priesthood and the Eucharist, whereby they are still joined to us in a very close relationship,
This was the first of several excommunications that were lifted and erased from the books of the Catholic Church.
**The resulting change found its historical expression in the ecclesial act whereby “there was removed from memory and from the midst of the Church”[84] the remembrance of the excommunications **which nine hundred years before, in 1054, had become the symbol of the schism between Rome and Constantinople. That ecclesial event, so filled with ecumenical commitment, took place during the last days of the Council, on 7 December 1965. The Council thus ended with a solemn act which was at once a healing of historical memories, a mutual forgiveness, and a firm commitment to strive for communion. (Ut Unum Sint).
The Churches of the East are now Sister Churches and the mutual excommunications are being lifted.
** it has again become usual to refer to the particular or local Churches gathered around their Bishop as “Sister Churches”. In addition, the lifting of the mutual excommunications,** by eliminating a painful canonical and psychological obstacle, was a very significant step on the way towards full communion.
Pope Benedict has continued the work begun by John XXIII and Paul VI. In light of the fact that we cannot excommunicate the Orthodox, because they have not left the Catholic Church, nor can they excommunicate us for leaving them, it seems that maintaining the decrees of excommunication was not helpful or very meaningful in this day and age…
JR