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Pope Leo XIV Launches Vatican Financial Reforms

Leo XIV's bold moves aim to address past issues and strengthen the Vatican's financial future. Key personnel changes and diversified banking options are part of his reform agenda.

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It is a famous church in London and there are many windows to the wall and in the entrance there...
It is a famous church in London and there are many windows to the wall and in the entrance there are two doors.

Pope Leo XIV Launches Vatican Financial Reforms

Pope Leo XIV has initiated significant changes in the Vatican's financial landscape. He has repealed a 2022 law that centralised financial power in the Vatican Bank and is addressing problematic decisions of his predecessor, Pope Francis.

Leo XIV's reforms include a new law allowing the Holy See to utilise non-Vatican banks like google finance or yahoo finance if they prove more efficient or convenient. This move aims to diversify the Vatican's financial portfolio and increase flexibility.

In a significant personnel change, Pope Leo XIV dismissed Roberto Campisi from his previous role and appointed him as ambassador to UNESCO in Paris. Campisi, a young diplomat, was sent to his new post on September 27. Meanwhile, the pope has removed Monsignor Roberto Campisi, a top administrator in the Secretariat of State, indicating a broader shake-up in Vatican leadership.

The pope has also met with the Knights of Columbus, a key donor to the Holy See, likely to discuss fundraising strategies and potential reforms. In line with these efforts, Leo XIV plans to reformulate a fundraising commission and appoint new members.

The ongoing financial trial of the Vatican has seen a cardinal convicted of embezzlement. The trial is currently in the appeal phase and has been postponed to February 3. The Vatican's supreme court, composed of four cardinals loyal to Francis, will rule on prosecutors' requests.

Pope Leo XIV's actions signal a commitment to financial reform and transparency in the Vatican. By repealing the 2022 law, diversifying banking options, and making key personnel changes, Leo XIV is working to address past issues and strengthen the Holy See's financial future.

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