VATICAN CITY
Gazzetta del Sud
Vatican City, March 19 – The new head of the Vatican Council for the Economy said Wednesday that soon the scandal-plagued Vatican bank will no longer pose a threat to the Catholic Church’s image, while another institution will become the “true bank of the Vatican”. In statements published by Spanish news agency Europa Press, Munich Cardinal Reinhard Marx said “there won’t be future occasions for (the Vatican bank) to hurt the Holy See’s reputation”. Officially called the Institute of Religious Works (IOR), the Vatican bank has come under scrutiny for alleged money laundering and is now working with the Council of Europe’s Moneyval agency to bring it in line with international standards.
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