Pope names top economists, finance experts to Vatican body

Pope Francis talks during a meeting with priests of Rome during a meeting at Paul VI's Hall at the Vatican. Credit: Reuters
Pope Francis talks during a meeting with priests of Rome during a meeting at Paul VI’s Hall at the Vatican.
Credit: Reuters

Pope Francis named top laymen from the worlds of finance and economics on Saturday to a new Vatican Council for the Economy, intended to improve scrutiny of the Holy See’s scandal-plagued accounts.

The creation of the 15-member council is a major step in bringing lay people into the Vatican, and reflects a drive by Francis to make changes to an establishment often seen as murky and secretive.

The seven non-religious figures in the council include Maltese economist Joseph Zahra, former director of the Central Bank of Malta, and France’s Jean-Baptiste de Franssu, chairman of mergers and acquisitions advisory firm INCIPIT and former head of the European Fund and Asset Management Association.

Spanish University of Madrid economist Enrique Llano Cueto, German former McKinsey & Company partner Jochen Messemer, and Italian University of Messina Business Administration professor Francesco Vermiglio were also named members.

George Yeo, a former Singapore Finance Minister, was named alongside retired oil executive John Kyle.

The council includes eight prelates from around the world, coordinated by Munich and Freising Cardinal Reinhard Marx, known for speaking on socio-economic issues in Germany and one of the eight cardinals charged with re-organizing the Vatican administration, the Curia.

In a statement, the Holy See made it clear that the body has policy-making powers and is not just an advisory board.

“The members appointed to the Council are from various geographical areas, reflecting… the universality of the Church,” the statement read.

A series of scandals involving financial mismanagement have embarrassed the Church, including documents leaked by the former pope’s butler and an investigation by Italian magistrates into allegations of money laundering at the Vatican bank, formally called the Institute for Works of Religion (IOR).

Francis, who called for a “poor Church, for the poor” after his election almost a year ago, has not ruled out closing the IOR, which handles funds for religious orders and Vatican employees.



News
Entertainment
Sports
Lifestyle
Local

Brooklyn man charged in roommate's stabbing death

A Brooklyn man accused of violently stabbing his roommate to death on Monday is in police custody and faces murder charges.

International

Dinosaurs could have survived asteroid strike

It turns out there is a good and a bad time for the planet to be hit by a meteor, and dinosaurs were just unlucky.…

National

OkCupid admits to Facebook-style experimenting on customers

By Sarah McBrideSAN FRANCISCO (Reuters) - OkCupid, a top U.S. matchmaking website, intentionally mismatched users to test its technology, the IAC/InterActive Corp service said on…

Local

MTA fares still increasing 4 percent in newly…

The agency said the 4 percent increases, previously announced in December, will remain steady even as the MTA deals with increasing labor costs.

Movies

Interview: Brendan Gleeson on the way 'Calvary' depicts…

Brendan Gleeson talks about how his new film "Calvary" began over drinks and how his character here is the opposite of the lead in "The Guard."

Movies

'Get on Up' producer Mick Jagger on the…

Mick Jagger, a producer on the James Brown biopic "Get on Up," talks about the time had to tell the singer some bad news and his favorite JB record.

Television

'Glee' star Lea Michele to appear on 'Sons…

"Glee" star Lea Michele has been confirmed as a guest star in the final season of "Sons of Anarchy."

Television

TV watch list, Monday, July 28: 'The Bachelorette'…

See Andi Dorfman make her big choice on tonight's 'Bachelorette' finale.

NFL

Larry Donnell has inside track in Giants tight…

Little-known Larry Donnell of Grambling State currently has the inside track, as the second-year player has received the bulk of the first-team reps.

NFL

Computer to Jets: Start Michael Vick over Geno…

Jets general manager John Idzik says the choice of who starts between second-year quarterback Geno Smith and veteran Michael Vick will be a “Jets decision.”

MLB

Yankees looking to trade for Josh Willingham: Report

CBS Sports’ Jon Heyman reported Sunday the Yankees are interested in Twins outfielder Josh Willingham.

MLB

Joe Torre: I'm in Hall of Fame because…

Joe Torre spent 18 years putting together a near Hall of Fame career as a player. But it was the 12 years he spent as…

Travel

Glasgow: Hey, hey, the gangs aren't here

This European city has done a good job getting rid of its more violent residents and revitalizing with artists.

Education

Babson College tops list of best colleges for…

Money magazine has just released its inaugural list of "The Best Colleges for Your Money" -- and the answers have surprised many. Babson College, which…

Education

NYC teens learn how to develop apps during…

Through a program sponsored by CampInteractive, the high schoolers designed their own community-focused apps.

Tech

The Ministry of Silly Walks app is both…

Monty Python have dug into their back catalogue for cash-ins once more, but with the Ministry of Silly Walks app, they've made something that's fun too.