The Catholic Weekly 11 October 2020

catholicweekly.com.au 2 NEWS 11, October, 2020 Call 02 9649 6423 or visit www.catholiccemeteries.com.au Consecrated lawns and chapels Sydney’s only Catholic crematorium Monthly mass for the Repose of Souls Funeral directors available for a Catholic service Bereavement pastoral care Serving the Catholic community for over 150 years FROM PAGE 1 On 1October, Cardinal George Pell’s successor as Prefect of the Economy of the Vatican, Father Juan Antonio Guerrero Alves, declared it is possible crimes may have occurred. Referring to ongoing news reports about Vatican invest- ments, most notably a London property deal being investigat- ed by the Vatican, Father Guer- rero said, “it is possible that in some cases, the Holy See has been not just poorly advised, but also swindled.” His comments came in an interview with Andrea Torniel- li, editorial director of the Vati- can Dicastery for Communica- tion, as he presented a detailed budget report of the Roman Curia for 2019. The Vatican has not issued a budget report since 2015. Among the financial mat- ters being investigated by Vatican magistrates are a 350 million euro (A$570 million) investment in a large London building in the affluent sub- urb of Chelsea called 60 Sloane Avenue, the purchase of which Cardinal Becciu oversaw in 2014.The Vatican has admitted the Sloane Avenue deal result- ed in huge losses. The Italian financier Gi- anluigi Torzi reportedly made A$16 million for brokering the deal. Britain’s Financial Times newspaper also reported Vat- ican authorities are investi- gating additional investments of up to A$180 million in oth- er luxury apartments in and around one of the most expen- sive residential suburbs inLon- don, also carried out by Cardi- nal Becciu. The allegations pertaining to Australia have raised special interest. In2016, Cardinal Becciuwas instrumental in bringing to a halt reforms initiated by Cardi- Risks, losses and shady deals nal Pell. AlthoughPope Francis had given the newly created Prefecture for the Economy au- tonomous oversight authority over Vatican finances, Cardinal Becciu interfered when Cardi- nal Pell’s financial secretariat planned an external audit of all Vatican departments, to be conducted by the firm Price- WaterhouseCooper. Unilaterally, Cardinal Bec- ciu cancelled the audit and announced in a letter to all Vat- ican departments that it would not take place. When chal- lenged by Cardinal Pell, Car- dinal Becciu persuaded Pope Francis to give his decision ret- rospective approval.The audits Cardinal George Pell arrives at the County Court in Melbourne in 2019. PHOTO: DANIEL POCKETT,AAP IMAGES VIA REUTERS didnot occur.WhileVatican in- vestments in property are nor- mal practice designed to gen- erate income for the city state which employs approximately 2000 people, the allegations swirling around the London property deals have included kickbacks and the arrest of the businessman who brokered the deal. On 25 September, Catholic News Agency reported that portfolio statements showed that Cardinal Becciu used mil- lions of euros of Vatican char- ity funds in speculative and risky investments, and that he directed Vatican and Italian bishops’ money to go toward “loans” for projects owned and operated by his brothers. Following his extraordinary removal by Pope Francis, Car- dinal Becciu cannot participate in any papal conclave to elect a future pope. In his interview with Andrea Tornielli, Father Guerrero said Catholics “have the right to know how we use the Holy See’s resources. “We are not the owners; we are the custodians of the assets that we received. Those who ask for transparency are right. The Holy See’s economy must be a glass house. This is what the pope asks of us.” For 2019, Father Guerrero said that the Roman Curia, which is made up of 64 enti- ties, had a budget deficit of 11 million euros (about A$18 mil- lion at the 1 October exchange rate). The statement showed it had 307 million euros in rev- enues, 318 million euros in expenditures and a total of 1.4 billion euros in net equity. I n this edition News Movies, streaming Archbishop’s homily World Opinion, comment 1-7 8-9 14-16 18-19 20-21 12 MYSTERY, MURDER AND FAITH EDITOR Peter Rosengren (02) 9390 5400 REPORTERS Marilyn Rodrigues (02) 9390 5410 David Ryan (02) 9390 5408 SUBSCRIPTIONS Rita Ng (02) 9390 5411 ADVERTISING AND MARKETING Steve Richards (02) 9390 5404 DESIGNERS Renate Cassis Mathew De Sousa Our story begins in 1839 with the Australasian Chronicle, continuing with the Freeman’s Journal in 1850. Level 13, Polding Centre, 133 Liverpool Street, Sydney, NSW 2000. Phone (02) 9390 5400 | Vol 73, No 5154. The Catholic Weekly is published by the Roman Catholic Archdiocese of Sydney ABN 60 471 267 587 and is printed by ACM Australian Community Media, 159 Bells Line of Road, North Richmond NSW, 2754. LEAVE A GIFT Archdiocese of Sydney Catholic CHARITIES Order your FREE Wills and Bequests Guide today 1800 753 959 or [email protected] myWill SUPPORTINGTHE MINISTRIES OF THE CATHOLIC ARCHDIOCESE OF SYDNEY Leaving a gift in a [Catholics] have the right to know how we use the Holy See’s resources. We are not the owners; we are the custodians of the assets that we received.” Fr Juan Antonio Guerrero Alves

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