It appears the Vatican is running out of money. Last week Pope Francis reportedly ordered the Holy See, churches, and all connected entities to move all of their financial assets.
Those assets will become part of the institute of works for religion or the “IOR”, more commonly known as the Vatican bank. All of this needs to happen by September 30th.
Pope Francis spelled this out in a rescript issued last week- which is a decree. While it may seem a bit fast and perhaps unfair, the Pope insists it’s all about transparency and an effort to trace funds.
Telling people the Vatican is broke probably wouldn’t go over so well.
