Cardinal Pell: 'Clear headed' women will help 'sentimental males' clean up Vatican finances
Hannah Brockhaus - Jan 14, 2021
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Cardinal George Pell welcomed Thursday Pope Francis’ inclusion of lay women on the Vatican’s economy council, saying he hopes “clear headed” women will help “sentimental males” do the right thing concerning Church finances.
In August 2020, Pope Francis named 13 new members, including six cardinals, six lay women, and one lay man, to the Council for the Economy, which oversees Vatican finances and the work of the Secretariat for the Economy.
Speaking during a Jan. 14 webinar about financial transparency in the Catholic Church, Pell praised the appointees as “highly competent women with great professional backgrounds.”
“So I’m hopeful they will be very clear headed on the basic issues and insist that we sentimental males get our act together and do the right thing,” he said.
“Financially I’m not sure the Vatican can continue losing money the way we’re losing money,” the Australian cardinal continued. Pell, who was prefect of the Secretariat for the Economy from 2014 to 2019, pointed out that “on top of that, there are very real pressures … from the pension fund.”
“Grace won’t exempt us from these things,” the cardinal stated.
Pell, who was acquitted this year after becoming the highest-ranking Catholic cleric to be convicted of sexual abuse, was the guest speaker at a webinar entitled “Creating a Transparent Culture in the Catholic Church,” hosted by the Global Institute of Church Management (GICM).
He addressed the question of how to have financial transparency in both the Vatican and in Catholic dioceses and religious congregations.
He described financial transparency as letting “the light in on these things,” adding, “if there’s a mess, it’s good to know about it.”
A lack of transparency about missteps just makes the Catholic laity disconcerted and worried, he warned. They say they need to know about things “and that’s got to be respected and their basic questions answered.”
The cardinal said he is strongly in favor of regular external audits for dioceses and religious congregations: “I do think some form of audit is possible in nearly every situation. And whether we call it accountability or whether we call it transparency, there are different levels of interest and education among the lay people about wanting to know about the money.”
Pell also posited that many of the Vatican’s present financial troubles, especially the controversial purchase of a London property, might have been prevented, or “would have been recognized earlier,” if an external audit by Pricewaterhouse Cooper had not been canceled in April 2016.
About recent changes to finances at the Vatican, such as the transfer of management of investments from the Secretariat of State to APSA, the cardinal noted that when he was at the Vatican, he said it was less important who was controlling certain sections of the money, than that it was being managed well, and that the Vatican was seeing a good return on investments.
The transfer to APSA needs to be done well and competently, he stated, and the Secretariat of Economy needs to have the power to be able to stop things if they need to be stopped.
“The pope’s plan to set up a board of experts to manage the investments, coming out of Covid, coming out of the financial pressures we are presently experiencing, that will be absolutely vital,” he added.
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