Wednesday, October 02, 2013

The Vatican Bank: it is a miracle. Another miracle is needed now



"For the first time in 125 years the Vatican bank, or Institute for Religious Works (IOR), has published an annual report in what appears to be an attempt to be more transparent and divert allegations of corruption that have rocked the bank In recent years. The 100 page report shows that 2012 profits quadrupled since 2011, going from 20.3 million euros ($27.5 million) to 86.6 million euros ($111 million). The report also shows that the bank has 4.98 billion euros ($6.73 billion) in assets and 769 million euros ($1.039 billion) in equity funds, with 41.3 million euros ($55.8 million) in gold, coins and other precious metals making up the total."