Vatican Scrambles To Address Yet ANOTHER Financial Scandal

Pope Francis announced Thursday that he has appointed Cardinal Kevin Farrell as the sole director of the pension fund for the Holy See, covering former employees of both the Roman curia and the Vatican city state. Francis took the decision, he said in a letter to the College of Cardinals and officials of curia, in the light of “a serious prospective imbalance of the fund” leaving it unable to meet its obligations. “Unfortunately,” said the pope, “at the end of the latest in-depth analyses carried out by independent experts, indicates a serious prospective imbalance of the fund, whose dimension tends to widen over time in the absence of interventions.” “In concrete terms, this means that the current system is not able to guarantee in the medium term the fulfillment of the pension obligation for future generations.” Dealing with the fund’s looming liquidity crisis necessitate “difficult decisions that will require a particular sensitivity, generosity and willingness to sacrifice on the …