Pope Leo rolls again one in every of his predecessor’s extra questionable reforms | EUROtoday

Pope Leo XIV has rolled again a few of Pope Francis’s extra questionable monetary reforms and choices, cancelling a legislation that had concentrated monetary energy within the Vatican financial institution.

Leo utterly abrogated the 2022 legislation that had decreed that administration of the Holy See’s belongings was the “exclusive responsibility” of the Institute of Religious Works, or IOR.

The new legislation says the Holy See typically does use the IOR, however can flip to non-Vatican banks in different international locations if the Vatican’s funding committee “deems it more efficient or convenient” to take action.

The legislation was the clearest signal but that Leo is beginning to right a few of Francis’s extra problematic choices and is recalibrating the powers within the Vatican, after Francis tended to lean closely on the recommendation of the IOR.

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The 2022 legislation had taken many within the Vatican without warning because it appeared to contradict the Holy See’s founding structure, based on which the patrimony workplace APSA is accountable for administering the Vatican’s actual property and monetary holdings.

It was the second important transfer that Leo has taken in as many weeks to rejigger a few of Francis’ choices. On September 27, Leo eliminated a high administrator within the Secretariat of State and despatched him to Paris to function ambassador to UNESCO.

Monsignor Roberto Campisi had been near Francis, such that the late pope made him president of a brand new fundraising fee that was fashioned to drum up donations for the cash-strapped Holy See.

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The fee’s statutes and members have been introduced whereas Francis was within the hospital, on February 26, and included solely Italians with no skilled fundraising expertise.

The lack of certified fundraisers and the absence of any Americans instantly discredited the fee, since Americans are among the many largest donors to the Holy See, but in addition demand ranges of transparency and accountability that the Vatican hasn’t all the time adopted.

The new legislation was introduced on the identical day that Leo met with the Knights of Columbus, the influential U.S. Catholic charitable organisation that may be a main donor to the Holy See.

In his remarks, Leo thanked the knights for his or her newest charitable undertaking: the restoration of Bernini’s baldacchino cover over the altar of St. Peter’s Basilica.