REPORT: Vatican on the Verge of Bankruptcy!

Skip to comments.

Posted on 12/07/2024 5:29:52 PM PST by chickenlips

Is the Vatican on the verge of bankruptcy?

It appears so.

I saw this going viral online so I dug into it (because we actually do our research here, we don’t just rely on Tweets) and what I found was this is accurate:

VATICAN BANKRUPTCY?https://t.co/cHpTrpv2Xb pic.twitter.com/9Z5CFz02TP

— The Sacred Blue Tent (@SabrinaGal182) December 3, 2024

The AP reports the situation is dire, as admitted by Pope Francis himself:

Pope Francis, who has imposed a series of cost-cutting measures across the cash-strapped Vatican, warned Thursday that the city state’s troubled pension fund needs urgent reform to guarantee future obligations.

Vatican employees responded by expressing concern that their compensation might be targeted in any further cost-cutting to shore up the pension system, and asked for the fund’s finances to be made public.

In a letter to Vatican department heads and cardinals, Francis said he had named a top economic adviser Cardinal Kevin Farrell as a special administrator for the fund, suggesting that decisive, immediate action was necessary.

The letter was the latest evidence of the Vatican’s precarious financial situation, after years of mismanagement, financial scandals and budget deficits — all worsened by COVID-19 and the months-long closures of a key source of revenue, the Vatican Museums.

Already, Francis has cut the salaries of cardinals by 10%, suspended some seniority bonuses, trimmed special stipends for Rome-based cardinals and begun charging some market-rate rents for their apartments.

The pension fund has long been the source of particular concern, and in the new letter Francis acknowledged that the current analysis “indicates a serious prospective imbalance in the fund, the size of which tends to expand over time in the absence of intervention.”

(Excerpt) Read more at 100percentfedup.com ...

Click here: to donate by Credit Card

Or here: to donate by PayPal

Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794

Thank you very much and God bless you.

The sale of indulgences and profits from the Vatican Bank money laundering must be down?

1 posted on 12/07/2024 5:29:52 PM PST by chickenlips

To: chickenlips

2 posted on 12/07/2024 5:33:57 PM PST by steve86 (Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)

To: chickenlips

3 posted on 12/07/2024 5:36:06 PM PST by traderrob6

To: chickenlips

4 posted on 12/07/2024 5:36:48 PM PST by tinamina (Remember when Biden said “we have developed the most sophisticated voting fraud system ever”?)

To: chickenlips

5 posted on 12/07/2024 5:39:02 PM PST by Uncle Miltie (The ACLU's Chase Strangio, a woman with a beard, argued that two-year-olds should be castrated.)

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

FreeRepublic.com is powered by software copyright 2000-2008 John Robinson