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Toronto's Thomas Cardinal Collins named adviser to Pope
Collins appointed to Vatican bank commission
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The Archbishop of Toronto has picked up a new job title.

Thomas Cardinal Collins has been named adviser to the Vatican bank. The appointment is part of a move by Pope Francis to clean house at the troubled body, turfing cardinals who oversaw the bank's most recent scandal.

Joining Collins on the commission are Francis' hand-picked secretary of state, Cardinal-elect Pietro Parolin, Francis' close friend Cardinal Santos Abril y Castello, and Christoph Cardinal Schoenborn, archbishop of Vienna.

Only one cardinal from the previous commission overseeing the bank's operations, Jean-Louis Cardinal Tauran, survived the cut.

The five-member Cardinal's Commission, as it is known, names the lay board of the Vatican bank and its top two general managers and makes sure they adhere to the bank's mission to administer money for works of charity.

Days after announcing his resignation last February, Pope Benedict XVI locked in existing commission members for another five years. Among them, Benedict's longtime deputy and secretary of state, Tarcisio Cardinal Bertone, who was widely blamed for many of the Vatican's administrative shortcomings during Benedict's papacy.

Francis has now essentially undone Benedict's decree, relieving Bertone and the other commission members of their jobs as he moves forward with his reform of the bank, formally known as the Institute for Religious Works.

Over the summer, Francis named a trusted friend, Monsignor Battista Ricca, to fill a vacant supervisory position and appointed an independent commission of inquiry to look into the bank's activities and legal status.

Those decisions were taken in the days surrounding the July 1 ouster of the bank's top two managers and the arrest of a Vatican accountant with several Vatican bank accounts on charges he plotted to smuggle 20 million euros ($26 million) into Italy from Switzerland. The accountant, dubbed "Monsignor 500" for the types of euro notes he purportedly favoured, is currently on trial in Rome on the smuggling charge and is also under investigation in his native Salerno, a city in southern Italy, in a money-laundering case involving his Vatican accounts.

Prior to that affair was the controversial 2012 ouster of the bank's then-president, Ettore Gotti Tedeschi. The board accused Gotti Tedeschi of incompetence and failing to do his job.

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0 0

The Archbishop of Toronto has picked up a new job title.

Thomas Cardinal Collins has been named adviser to the Vatican bank. The appointment is part of a move by Pope Francis to clean house at the troubled body, turfing cardinals who oversaw the bank's most recent scandal.

Joining Collins on the commission are Francis' hand-picked secretary of state, Cardinal-elect Pietro Parolin, Francis' close friend Cardinal Santos Abril y Castello, and Christoph Cardinal Schoenborn, archbishop of Vienna.

Only one cardinal from the previous commission overseeing the bank's operations, Jean-Louis Cardinal Tauran, survived the cut.

The five-member Cardinal's Commission, as it is known, names the lay board of the Vatican bank and its top two general managers and makes sure they adhere to the bank's mission to administer money for works of charity.

Days after announcing his resignation last February, Pope Benedict XVI locked in existing commission members for another five years. Among them, Benedict's longtime deputy and secretary of state, Tarcisio Cardinal Bertone, who was widely blamed for many of the Vatican's administrative shortcomings during Benedict's papacy.

Francis has now essentially undone Benedict's decree, relieving Bertone and the other commission members of their jobs as he moves forward with his reform of the bank, formally known as the Institute for Religious Works.

Over the summer, Francis named a trusted friend, Monsignor Battista Ricca, to fill a vacant supervisory position and appointed an independent commission of inquiry to look into the bank's activities and legal status.

Those decisions were taken in the days surrounding the July 1 ouster of the bank's top two managers and the arrest of a Vatican accountant with several Vatican bank accounts on charges he plotted to smuggle 20 million euros ($26 million) into Italy from Switzerland. The accountant, dubbed "Monsignor 500" for the types of euro notes he purportedly favoured, is currently on trial in Rome on the smuggling charge and is also under investigation in his native Salerno, a city in southern Italy, in a money-laundering case involving his Vatican accounts.

Prior to that affair was the controversial 2012 ouster of the bank's then-president, Ettore Gotti Tedeschi. The board accused Gotti Tedeschi of incompetence and failing to do his job.

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