Pope Leo Decries 'Distorted Economy' While Vatican Vaults Remain Locked
Deutsche Welle highlights Pope Leo’s Christmas Mass message on a 'distorted economy,' a noble sentiment from an institution that, according to various financial analyses, sits on an estimated $10-15 billion in investments, real estate, and art. While the Pope speaks, the Vatican Bank (IOR) continues to operate with an opacity that would make many multinational corporations blush, despite recent
reforms. This 'distorted economy' often conveniently overlooks the world's oldest, wealthiest tax-exempt organization. One might wonder if the 'distortion' applies equally to institutions that preach charity but rarely open their own coffers to global crises. Perhaps the Pope's next sermon will detail how the Vatican is divesting from fossil fuels or investing in sustainable development, rather
than vaguely critiquing systems it benefits from without contributing its substantial share.