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canoeist52

(2,282 posts)
Wed Feb 27, 2013, 10:14 AM Feb 2013

Financial issues at the Vatican. It's always the money.

http://www.alternet.org/world/gods-racket-why-its-high-time-shut-down-vatican-bank?page=0%2C0

Eye-opening article with interesting links.

"In May 2012, Pope Benedict XVI’s butler was arrested for leaking documents bristling with claims of financial corruption and criminal activity involving major Italian companies. The last Vatican bank chairman, Ettore Gotti Tedeschi, was shown the door when it was revealed that the bank was running afoul of international money-laundering standards. Leaked material and reporting reveals a bank that appears to be a kind of rogue offshore vehicle favored by various kinds of miscreants, including right-wing politicians, mafia types and tax evaders who wish to hide their financial transactions. Kind of like HSBC, only with God’s imprimatur.

Subsequent investigations have resulted in a shutdown of credit card transactions at all Vatican venues; right now, God can only take cash. In an attempt to restore relations with the international financial community, outgoing Pope Benedict appointed a new director of the bank, German lawyer Ernst von Freyberg, as one of his final acts. So far that’s not looking so good, as Freyberg has been revealed to have unfortunate links with a company with a history of making warships, including those produced for Nazi Germany."
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