Pope May Radically Shake Up Vatican Bank

Francis may even close scandal-plagued institution

By Kevin Spak,  Newser Staff

Posted Apr 2, 2013 3:20 PM CDT

(Newser) – Pope Francis intends to take a critical look at the scandal-plagued Vatican Bank, with an eye toward restructuring it or even closing it entirely, Vatican sources tell Reuters. While the changes will likely be a while in coming—the pope's first order of business will be shaking up the Secretariat of State, which was at the center of the Vatileaks affair, including the likely firing of its head—it will be one of the key issues of Francis' papacy, a senior official said, and "certainly if the pope wants to, he can close" it.

"It will take time," another senior official said. He predicted a "serious restructuring" rather than closure. "But I would not exclude anything, including closing it down the line. Francis is doing surprising things every day."

A nun walks under the Bernini colonnade in St. Peter's Square at the Vatican, Friday, Feb. 15, 2013.   (AP Photo/Alessandra Tarantino)
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