Latin is still spoken as French, Italian, and Spanish. Israeli Hebrew is different from Synagogue Hebrew as I am told. In any case the official language of Vatican City is Latin.
The Romance Languages are DERIVED from Latin, they are NOT THEMSELVES Latin. There is a huge difference there. Spanish and French speakers for example, aren't likely to understand something said in Latin any better than you, an English speaker, are likely to understand it.
The difference is probably roughly comparable to that between the English of Shakespeare's time (not in modernized texts) and present-day English.