The Vatican warned March 12 that it has nearly depleted its financial reserves from past donations to cover budget deficits over recent years, as it urged continued giving from the faithful.
The Vatican has never been a democracy, but the incongruity of a government that is a moral authority on the global stage and yet an absolute monarchy is becoming increasingly evident.
Pope Francis has formally stripped the Vatican secretariat of state of its financial assets and real estate holdings following its bungled management of hundreds of millions of euros.
Two top Vatican officials — Cardinal Konrad Krajewski and Cardinal Giuseppe Bertello — have tested positive for the COVID-19 virus, Italian media reported, and a Vatican source confirmed.
Pope Francis has revamped the Holy See's financial intelligence and anti-money-laundering unit following financial scandals, including an ongoing in-house corruption probe, Vatican officials said Dec. 5.
The Vatican cardinal sacked by Pope Francis amid a corruption investigation is suing an Italian news magazine, claiming that his ruined reputation has eliminated his chances of becoming pope and will undermine the legitimacy of any future papal election.
