The Holy See: Need for transparency and regulations to administer economic affairs
(Vatican Radio) The Holy See has reaffirmed its desire to develop transparency in
the administration of its economic resources and affairs but says new regulations
are necessary to achieve this goal. This was the message spelt out by Cardinal Giuseppe
Versaldi, President of the Holy See’s Prefecture for Economic Affairs at a news conference
in the Vatican during which he outlined to journalists the functions of this Prefecture
in the light of new regulations for it promulgated earlier this year. The new regulations
are based on recommendations from a special council of Cardinals appointed to study
the organisational and economic problems of the Holy See.
told journalists that this need for revised regulations has not come about because
"we don’t trust people but because even the best person can be led into temptation
and that’s why we need control mechanisms" to guarantee truth and justice without
forgetting charity. The Cardinal said the new regulations stress that the Prefecture’s
function is not just one of watching over and checking the Holy See’s economic affairs
but also of playing a leadership role in guiding and running the entire economy of
the Holy See.
Another speaker at the press conference, Monsignor Lucio Balda,
Secretary of the Prefecture, revealed that the Holy See’s budget is still operating
at a loss and obviously is feeling the effects of the global financial crisis given
that it relies on donations from the faithful. We must cut costs and unnecessary
expenses, he said, but at the same time, we must guarantee the salaries and pensions
of those working for the Holy See.