The Vatican bank’s chairman is to step down as soon as next week as part of the restructuring of an institution that has been an embarrassment to the Catholic Church for decades, Vatican sources said on Tuesday.
But the sources, who spoke on the condition of anonymity, disagreed over whether Ernst von Freyberg was leaving willingly or whether he was being pushed out over differences within the Vatican about the pace of reform.
Freyberg’s departure is expected to be announced in connection with the publication, most likely next week, of the new annual report of the bank, officially known as the Institute for Works of Religion (IOR).
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(Reuters) Vatican bank's head to quit as shake-up bites, sources say
The Vatican bank’s chairman is to step down as soon as next week as part of the restructuring of an institution that has been an embarrassment to the Catholic Church for decades, Vatican sources said on Tuesday.
But the sources, who spoke on the condition of anonymity, disagreed over whether Ernst von Freyberg was leaving willingly or whether he was being pushed out over differences within the Vatican about the pace of reform.
Freyberg’s departure is expected to be announced in connection with the publication, most likely next week, of the new annual report of the bank, officially known as the Institute for Works of Religion (IOR).
Read it all.