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Managing the Devil’s dung


The Vatican Bank tries to overcome a dark past and the smell of money.

“Some say that, perhaps, it’s best that it be a bank, others that it be an aid fund, others say to close it”, was how Pope Francis referred to one of the Catholic Church’s main worries, which troubled the last years in office of his predecessor, Benedict XVI.

The Pope was obviously referring to the Institute of Religious Works, better known by its acronym IOR, and often inaccurately dubbed the ‘Pope’s bank’. It appears that Francis was elected pope as a direct consequence of the IOR’s troubles, which is paradoxical, given Jesuit Jorge Mario Bergoglio’s well-known disdain for money.

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