Vatican Posts Financial Loss for Third Year [Zenit]

[Catholic_Press]

Notes Continuing Effects of Financial Crisis

VATICAN CITY, JULY 11, 2010 (Zenit.org).- For the third year in a row, the economic crisis has left the Holy See and the Vatican City State in the red.

This was revealed Saturday in a statement published by the Council of Cardinals for the Study of Organizational and Economic Matters of the Holy See on the 2009 financial statement of the Holy See and the Vatican City State Governorate.

The council met for its 45th meeting last week in the Vatican, presided over by Benedict XVI’s secretary of state, Cardinal Tarcisio Bertone.

More…

 

[Dale_M]

Three years in a row… I hope economic conditions improve so that the Holy See and the Vatican CIty State can avoid such losses.

Apparently the two are financially independent of one another, which I did not know.

The Governorate of the Vatican City State, which is economically independent from the Holy See, reported a deficit of $9.8 million, a little less than half of last year’s declared shortfall. While the negative figure was attributed to the effects of the global economic crisis, its “containment” gave the governorate the opportunity to regain momentum from financial losses in 2008.

The Vatican statement underscored that the administration of the governorate does not depend on contributions from the Holy See and that it “autonomously confronts its own economic necessities.”

catholicnewsagency.com/news/vatican-claims-net-financial-loss-sees-improvement-over-2009/

I have to admit, though, I was a little puzzled as to why the Holy See and Vatican release a report on their finances. I guess this is the explanation:
UK Press Association:

The Vatican has published the annual report since 1981, when Pope John Paul II ordered financial disclosure as part of his efforts to debunk the idea that the Vatican is rich.

Up until two years ago, the report was released on the same day a senior Vatican cardinal held a news conference to explain the financial picture. Asked why such briefings are no longer scheduled, a Vatican official said they had been stopped because journalists asked “uncomfortable” questions.

google.com/hostednews/ukpress/article/ALeqM5hr2BuwvvS80GJB5SS431z3guEkIQ

Well, I guess that is what journalists do. Still, its unfortunate.

 

[wisdomseeker]

well, i am not surprised. how many millions of dollares has been gone out the door to pay for the sins and scandals of the leaders of the Church?

punishment has come to us. and will continue to come as long as we continue our path of distraction. building ugly houses for the Lord in attempt to save money. look where we are today. i am not surprised by this.

plus by showing to the world that the Vatican doesnt money is not going to stop the money hungry people from continue their pursuit against the Church.

 

[Loboto-Me]

well, i am not surprised. how many millions of dollares has been gone out the door to pay for the sins and scandals of the leaders of the Church?

punishment has come to us. and will continue to come as long as we continue our path of distraction. building ugly houses for the Lord in attempt to save money. look where we are today. i am not surprised by this.

plus by showing to the world that the Vatican doesnt money is not going to stop the money hungry people from continue their pursuit against the Church.

I have to disagree with this… it’s not THE leaders of the Church, it is SOME leaders of the Church. Not all leaders sinned and caused scandal, it is only those who innocently followed deceivers, or the deceivers themselves who have sinned and caused scandal.

 

[JadeStarr]

Man, do I know how the Vatican feels, the same thing has happened to me.

Here’s hoping we both see better days in the future.