Monday, April 22, 2013

Pope cuts earnings of cardinals who supervise Vatican Bank

Published: April 21, 2013

Pope Francis
The Pope has cut the bonuses for the five Cardinals who watch over the Vatican bank, reports Vatican Insider. Every Cardinal in the Curia already has a "salary" of five thousand euro per month but up till now the five IOR commissioners have received a special allowance of up to 2100€  per month.
Apart from the five overseeing the Vatican Bank, the other cardinals take their pay from the dioceses of which  they are bishops. But the Vatican Bank  commissioners are an exception.
The decision was made to coincide with the meeting of the Committee to approve the 2012 budget. The "cuts" amount to 25,000 euro per annum, per cardinal. Because of the economic crisis, The Holy See is implementing a strategy of "spending reviews" and thrifty resources’ management, in order to prevent the precipitation of budgets further into the red.
Source: CathNews

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