Pope Francis Considers Closing Scandal-Riven Bank – 27 March 2013

VaticanThe Times : POPE Francis is to consider abolishing the Vatican Bank – which has been beset by a scandal over allegations of money-laundering – in a drive for greater transparency at the heart of the Catholic Church.

Archbishop Claudio Maria Celli, who has been tipped as a possible secretary of state, or “Vatican prime minister”, said Francis would weigh up appeals made by two cardinals on the eve of his election for the bank – formally known as the Institute for Works of Religion (IOR) – to be scrapped.

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