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HARI SREENIVASAN (NewsHour): Vatican officials announced today that the pope will replace top management of what’s often referred to as the Vatican Bank. It’s more formally known as the Institute for the Works of Religion and is reported to manage nearly $8 billion in assets.
It’s been plagued for years by several scandals that include charges of corruption, money laundering and mismanagement. That change was one of several announced today that impact the Vatican’s financial and property units. It came two days after Pope Francis met in Vatican City with six victims of sexual abuse by clergy. He apologized and asked for forgiveness from them during a homily and private mass.
The pope’s response to the sexual abuse scandals has been criticized by a number of victims.
John Allen covers the Vatican and global Catholicism for The Boston Globe. He joins me from Denver.
So, let’s talk a little bit about the shuffle at the bank. Why is this particular bank so significant?
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