VATICAN CITY
Malta Independent
Monday, 07 July 2014
by John Cordina
As a fresh shake-up – the second in as many years – appears imminent at the Vatican Bank, Maltese economist Joseph F.X. Zahra, entrusted by Pope Francis to serve in two entities seeking to reform the bank and the Vatican’s economic affairs, is facing accusations of being at the centre of a conspiracy.
According to sources which spoke to Italian newspaper Il Giornale and news magazine L’Espresso, Mr Zahra is heading a so-called “Maltese lobby” which is seeking to gain control over the Vatican Bank – whose official name is the Institute for the Works of Religion (IOR) – for their financial gain.
When contacted by The Malta Independent, Mr Zahra categorically rejected the accusations, but also said that they were to be expected given his involvement in the reform process of a financial institution whose history has often been marked by controversy.
“A clear mandate for reforms was given to the Reform Commission by Pope Francis last year. Sadly these are the expected reactions that one gets during a reform process. Experience has shown that a price one pays in any reform is that of fabricated stories and other allegations that are aimed at eroding credibility of the reform process.”
Mr Zahra stressed that he was not in a position to comment on the workings of the two entities the Pope appointed him to serve in, but a report on La Repubblica – a sister newspaper to L’Espresso – suggests that he may have been caught up in the crossfire as factions within the Holy See are divided over the direction the reforms should take.
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