Pope Benedict XVI… [last] Thursday issued new norms governing the Vatican’s banking system, including placing it under a central authority to bring it in line with international measures to curb money-laundering and the financing of terrorism.
The move comes amid a legal tussle between Italian authorities and the Vatican’s bank, the Institute for Religious Works, over the possible violation of an anti-money laundering convention.
The Vatican has repeatedly described as a “misunderstanding” the decision by magistrates in Rome to confiscate 23 million euros deposited from the IOR into an account of an Italian bank, and to place the IOR’s two top managers under investigation.
First there was the business with Banco Ambrosiano whose Chairman ended up hanging from a London bridge. Now this.
To have one such scandal is unfortunate; to have two suggests carelessness, or something else. All very Italian – all very stinky.