VATICAN CITY
SKNVibes
By: Jean-Louis de la Vaissiere, VATICAN CITY (AFP)
(Vatican City, VAT) – The Vatican Bank ousted its president on Thursday after he failed to clean up the image of an institution that has come to symbolise the opacity and scandal gripping the Holy See’s administration.
Ettore Gotti Tedeschi was forced to resign “for failing to carry out duties of primary importance,” the Holy See said in a statement.
The president was ousted in the wake of a series of financial scandals as the Vatican tries to clean up its image and put a stop to a leak of documents.
“The board passed a unanimous no-confidence vote against the president… and believes the action is important to maintain the vitality” of the bank, the Vatican said, as internal divisions over transparency came to a head.
Gotti Tedeschi, an expert on financial ethics, was put in charge of the bank — also known as the Institute for Religious Works (IOR) — in 2009, in an effort on the part of the Vatican to rid the institution of scandal.
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