Reformers at the Vatican have discovered millions of euros “tucked away” in the Holy See’s bank accounts, Cardinal Pell has revealed.
The money had not appeared on the Holy See’s balance sheets and means that the Vatican’s finances are “much healthier than it appeared”, the cardinal, prefect of the newly created Secretariat for the Economy, explained.
In an interview with The Catholic Herald Australian Cardinal George Pell revealed the latest findings of the newly-appointed Secretariat, created in February to reform Vatican finances.
“It is important to point out that the Vatican is not broke. Apart from the pension fund, which needs to be strengthened for the demands on it in 15 or 20 years, the Holy See is paying its way, while possessing substantial assets and investments.”
“In fact, we have discovered that the situation is much healthier than it seemed, because some hundreds of millions of euros were tucked away in particular sectional accounts and did not appear on the balance sheet. It is another question, impossible to answer, whether the Vatican should have much larger reserves,” he said.
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