For the first time ever in history, "the Vatican Bank opens its books in transparency drive". After the very successful year of 2012, the banks interest rates have increasingly risen as well as trade and an increase in bond values. From previous years, the bank had been accused of doing direct business with criminals which was cause stress on the economy of the bank. This bank is recognized as the IOR, or the Institute for Religious Work, has shared that they had an outstanding profit increase, specifically 86.6 million euros ($117 million) - a 325 percent rise on the year before.
I find this very interesting to see how economy not only affects civilizations, cities, and countries but specifically owned and growing businesses as well!
It's good to see the bank rebuild itself-Jasmine
ReplyDeleteI'm happy to hear that the vatican is becoming successful by being fiscally responsible. Getting money is never hard if you turn a blind eye to where the money is coming from. Which is what it seems the church has been doing for a very long time.
ReplyDeleteHopefully the current pope will continue to make changes in the church to make some church buisness more transparent. The more the body of people in the church know about the business of the church, the easier it will become to hold people accountable when something unsavory happens.