Vatican Heralds New Department to Handle Finances
Pope Francis has taken a bold step towards setting the Vatican’s finances straight by restructuring its outdated administrative and bureaucratic systems. The reform includes the creation of the Secretariat of the Economy, a new department with broad powers to oversee all economic affairs that will be led by Cardinal George Pell, the archbishop of Sydney. The decision comes after several scandals raised doubts about the Church’s opaque asset management system. Now the pope hopes to show the world his people can practice what they preach.