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Vatican Passes Financial Transparency Test – But with Poor Grades

posted on July 20, 2012

After the Council of Europe tested the financial transparency of the Vatican’s Institute for the Works of Religious (IOR), the so-called Vatican bank, the Council’s report found that the IOR “was either ‘non-compliant’ or ‘partially compliant’ in 23 out of a total of 45 areas,” reports The Guardian’s John Hooper. While the Council states, “The Holy See has come a long way in a very short period,” it also notes that more “important issues still need addressing in order to demonstrate that a fully effective regime has been instituted in practice.”

Read at The Guardian