While many are handicapping various cardinal possibilities for the next pope, often talking about doctrinal and policy differences, I’m looking at some practical issues: money and long-term finance. Looking back at some problems in the past decade and more recent court cases surrounding Vatican financial shenanigans. Can’t anyone around here do good governance?
Episode Links
The Pillar
2 May 2025: UK court orders Vatican to pay Mincione millions in legal costs
The High Court of England and Wales has ordered the Vatican Secretariat of State to pay millions of dollars in legal fees to Raffaele Mincione, the investment manager who sold the Vatican the building at the center of the London property scandal.
19 Mar 2025: Vatican court: Auditor cannot bring ‘immoral and indecent’ evidence at appeal
Judges told the Vatican’s former auditor general that his termination lawsuit can not move forward unless his lawyers exclude from their case evidence that judges consider “immoral and indecent” — including evidence of alleged financial misconduct that could harm the “good name” of high-ranking Vatican officials.
The directive came from Vatican City judges considering whether to admit former Vatican auditor Libero Milone’s appeal against the 2024 rejection of his wrongful termination lawsuit.
15 Apr 2025: Does Pope Francis need to appoint a Vatican ‘special prosecutor’?
Messages exchanged between witnesses in the Vatican financial crimes trial appear to show collusion between them as they prepared to give evidence, according to new Italian media reports.
The Pillar’s Vatican Finances category
STUMP Related Links
30 March 2017: Pensions at the Supreme Court: Church Plans
I am not a lawyer, but this is pretty bad that it was allowed to go along in uncertainty for so long.
But there’s a reason it was never brought up legally before now.
It’s because now, many of these pensions are bankrupt. And the pensioners are finding they have no backstop whatsoever, unlike with regular private pension plans, which provide cover via ERISA and the PBGC.
There’s also the issue of multiple mergers, orphaned plans, etc.
….
I’m fine with cutting down the various departments making new law via their rules-making (and the wiggle room people have found is that the letters aren’t official offical rules-making. Though they come from the IRS. And interpret the rules.) But many government-career-types might not like this.
I am not looking forward to millions if not billions of increased liabilities on Catholic parishoners in the case of an adverse ruling, but if they really are church plans, the Church needs to be fulfilling its promises.
12 Sept 2018: Trying to Deflect the Blame: Calpers and the Catholic Church (and Trump!)
No, you cannot be silent in the face of evil. I understand there is repentance, but ffs, when alcoholic priests were treated and repented… nobody was so foolish to tell nobody of that weakness, and definitely not to allow the priest full run of the sacramental wine. Similarly for priests who embezzled — they no longer were allowed to handle any parish finances… or ANY finances… under church authority.
21 Oct 2020: Read the News with Meep: Vatican Credit Bets, Trump Taxes, Houston Pension Governance, and More!
Speaking as a Catholic who has donated to not only my local parish, but also my archdiocese (New York), and global Catholic concerns (Catholic Relief Services), I have a simple question: why are any clergy running church finances? There’s a reason each parish is supposed to have a lay finance council. (The reason: actual experience with priests absconding with church funds). Indeed, I am far more likely to suspect churchmen over money than any other shenanigans, except possibly alcoholism.
Given the even-swampier aspects of Vatican politics, I would be surprised if the Vatican tries Becciu on any financial shenanigans. I don’t even care if they do.
Turns out, they did try Becciu, and convicted him.
From farther down in that post:
By the way, Today’s Mass reading is from the Gospel of Luke [Luke 12:39-48]:
[47] That servant who knew his master’s will
but did not make preparations nor act in accord with his will
shall be beaten severely;
[48] and the servant who was ignorant of his master’s will
but acted in a way deserving of a severe beating
shall be beaten only lightly.
Much will be required of the person entrusted with much,
and still more will be demanded of the person entrusted with more.”The cardinals would do well to remember that. And remember why Dante placed so many cardinals and Popes in Inferno.
23 Aug 2022: Podcast - Public Pensions, ESG, DeSantis, and The Catholic Church
22 Nov 2024: Post-Election Public Finance and Pension Round-Up
12 Apr 2025: Podcast - Vatican Pensions: Will the Participants Get Their Promised Benefits?
I look at recent coverage from The Pillar, which had gotten a report from 2015 on the parlous state of Vatican pensions for lay employees, and updated reporting in 2025 on the current state of pensions. I discuss the problem of unfunded pensions from a Catholic perspective, given these are pensions sponsored by the Vatican sovereign.
Share this post