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View Diary: Tossing My Mitre into the Papal Ring (61 comments)

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  •  Richard, where is your "snark" tag? The (1+ / 0-)
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    intrigue suggests an Italian "money man" as the next Pope.  You don't stand a chance. (snark)

    Vatican's new bank chief has military ship links
    Vatican bank in new controversy as incoming chief tapped from shipbuilder making warships
    By Nicole Winfield, Associated Press

    The revelation dominated what was supposed to have been the Vatican's triumphant appointment of a new president for the bank after its last president, Italian banker Ettore Gotti Tedeschi, was fired nine months ago for incompetence.

    Gotti Tedeschi's stunning ouster came just as the Vatican was submitting its finances to a review by the Council of Europe's Moneyval committee in a bid to join the list of financially transparent countries.

    The Vatican last summer passed the test of the Moneyval committee, which seeks to prevent money laundering and terrorist financing. But the IOR and the Vatican's financial watchdog agency received failing grades.

    The new president will be tasked with bringing the IOR into compliance by Moneyval's next review.

    The Vatican stressed von Freyberg's Catholic credentials, noting that he was a member of the Sovereign Military Order of Malta, an ancient chivalrous military order drawn from European nobility. He himself is a member of one of Germany's aristocratic families.

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