The Vatican City State reported a deficit of $22 million for 2008 as a consequence of the “global economic-financial crisis,” RNS reports.
Maybe Obama can offer a stimulus package when he meets the Holy Father on Friday? Or will tomorrow’s encyclical address this problem?
The Vatican’s annual profit and loss statements showed that the 108-acre sovereign territory, which includes St. Peter’s Basilica and the Vatican Museums, fared much worse last year than in 2007, when it reported a profit of $10 million.
A Vatican statement attributed the shortfall to spending on telecommunications, Internet, and photovoltaic panels on the roof of the papal audience hall, as well as conservation and restoration work on the Vatican’s art collections.
The statement did not give a breakdown of expenses.
On the bright side, the Holy See, the episcopal jurisdiction of the pope, reported a loss of merely $1.3 million, down from $14 million in 2007.
The news is the latest indication of straitened circumstances at the world headquarters of the Catholic Church. In May, the Vatican announced that it would raise its staff retirement age by two years to help make ends meet.
And Vatican Radio announced that it would take paid commercials for the first time in its 78-year history. Beats hawking indulgences, I guess…
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Previous Posts
Moving on, and many, many thanks...
So...my recent vacation and related absences also coincided with an offer from PoliticsDaily.com to cover religion for them, as editor Melinda Henneberger announces here in her roundup on the site's very successful first 100 days. That means, in short, that I'll have to sign off from blogging h
posted 8:29:24pm Aug. 02, 2009 |
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Calvin at 500, Calvinism 2.0
If you thought you knew John Calvin--who turned 500 last week--you probably don't know enough. For example, that he was French, born Jean Cauvin. And if he was in fact scandalized by dancing, he was also a lot more complex than that. I explored the new look Calvin in an essay at PoliticsDaily, "Patr
posted 11:53:35am Jul. 16, 2009 |
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Apologia pro vita sua...Kinda
In my defense, I've had computer outages and family reunions and a few days of single-parenthood, which is always a bracing reminder of what many parents go through all the time.
And this weekend it's off for a week's vacation.
Anyway, hence the long absence. Apologies to those who have chec
posted 10:51:36am Jul. 16, 2009 |
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When Benny met Barry: "I'll pray for you!"
The first word via Vatican Radio and first image (that I saw) via Rocco:
Speaking to Vatican Radio, Press Office Director Fr. Federico Lombardi said "moral values in international politics, immigration and the Catholic Church's contribution in developing countries" were key topics of discussio
posted 12:54:28pm Jul. 10, 2009 |
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Signs of the times: Obama's eye
Yes, this photo of Obama ostensibly eyeing a young woman (apparently a 17-year-old delegate from Brazil--where are her parents?!) at the G-8 Summit is the hottest Google search item. And of course the question of what Obama was thinking is a leading Fox News story.
So it goes, even as the
posted 12:26:05pm Jul. 10, 2009 |
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posted July 7, 2009 at 9:43 pm
Is anyone surprised that the Vatican isn’t immune to the world’s economic situation? Benny and friends aren’t exactly living in poverty with rats, bugs and other nasty things running around in their rooms. Living in luxury isn’t cheap. Perhaps Benny and friends can economize, or sell some of the treasures, or perhaps relics of some old saint. Could get a few bucks to help out the situtation.
posted July 8, 2009 at 10:44 pm
Pagansister you are just ridiculous, true they are not living with rats or other nasty things, but how many other heads of state are? He’s the Vicar of Christ have some respect!!!