VATICAN CITY
Europe Online

Vatican City (dpa) – The Vatican said Wednesday that a European watchdog on financial transparency has recognized its progress in cleaning up its accounting.

The Moneyval committee of the Council of Europe, based in the French city of Strasbourg, approved a report submitted by the Vatican on Tuesday, according to a statement.

The panel “welcomed the outcome of the continued efforts by the Holy See and the Vatican City state to further strengthen their institutional, legal and operational framework for combatting money laundering and the financing of terrorism,” the Vatican said.