Home Abortion Aids & Hiv Euthanasia Homosexuality Lebanon Natural Family Planning Contact Me   
Daily News  »
Photo Album
Arabic Church News
Arabic Church Titles
Arabic Encyclopedia
Catechism of the Catholic Church
Church History
Code of Eastern Canon Law
Code of Western Canon Law
Council for Justice and Peace
Papal Documents
Papal Encyclicals
Paths of the Spirit
Pontifical Academy for Life
The 21 Ecumenical Councils
The Catholic Encyclopedia
The Encyclopedia of Philosophy
The Fathers of the Church
The Holy Father
The II Vatican Council
The List of Popes
The Mysteries of the Rosary
Way of the Cross
Question and Answer
- Faith FAQs
Your name:
Your email:
   Subscribe Unsubscribe
Latest Posts
- Liturgy Q & A: Orientation of the Cross at Mass
- ‘Cases Are Not Mathematical,’ Pope Tells Course Organized by Roman Rota on Protection of Marriage & Pastoral Care for Suffering Couples
- Pope to Japan’s Youth: ‘Never lose heart or set aside your dreams’
- Holy Father Tells Thai Youth not to Fear the Future
- Pope to US Youth: ‘Strengthen and Grow in Faith and Communion’
- Tv Charity
- Radio Maria
- Radio Charity - Lebanon
Slide Shows & Movies
- Psalm 23
- Be United Against...
- You Are Mine
- Abortion
- Mother Teresa
- Promise
  December 2019  
Number Of Visitors:
Aide "Astonished" Over Vatican Funds Freeze. Says Directors Will Soon Clarify Misunderstanding
VATICAN CITY, OCT. 21, 2010 (Zenit.org).- A Vatican spokesman is expressing astonishment over the confirmation of an Italian court of the seizure of a deposit by the Institute for the Works of Religion.
Jesuit Father Federico Lombardi, director of the Vatican press office, said Wednesday that he received this news with "astonishment."

The issue was reported last month when Italian finance authorities imposed a precautionary freeze on a €23 million ($30 million) deposit of Vatican funds at the Credito Artigiano Bank.

The procurator's office in Rome also announced an investigation of Ettore Gotti Tedeschi, the president of the Vatican institute, and Paolo Cipriani, the director-general. The investigation was related to alleged violations of European Union laws against money laundering.

Father Lombardi told journalists that his points to "an interpretative and formal problem."

He noted that the directors of the Institute for the Works of Religion "maintain that they will be able to clarify the whole question soon with the competent authorities."

In a statement published by the Financial Times last month, Father Lombardi clarified that the institute is "not a bank in the normal definition of the term."

Rather, he said, "It is an institute that administers the assets of Catholic institutions, who aim to further a religious and charitable apostolate at an international level."

The priest noted that the institute "is located within the territory of Vatican City State, beyond the jurisdiction and surveillance of various national banks" and that its "particular status means that its position in the system and the regulations of international finance require a series of agreements to establish the procedures necessary."

He added that "this is especially true in light of the new norms laid down by the European Union to combat terrorism and money laundering."