Posted on 11/21/2024 3:23:31 PM PST by ebb tide
Francis has appointed Cardinal Kevin Farrell as sole administrator of the Vatican's embattled pension fund.
Francis said Thursday in a letter to the College of Cardinals that the Vatican's pension fund faces a "serious imbalance," but did not quantify the extent of the problem.
Francis wrote to the cardinals that "urgent structural measures" are needed to deal with the fund's significant deficit. He announced "difficult decisions" and called for "sacrifice on the part of everyone."
"This means that the current system will not be able to guarantee the fulfillment of pension obligations to future generations in the medium term."
The Irish-American Cardinal Farrell is best known for having lived for four years next door to the homosexual Cardinal Theodore McCarrick, to whom he owes his career.
Ping
Well, lots of countries have similar problems. US included!
Surprised Francis and the Curia didn’t see this coming with Vat II destroying the Church. Recently 150 Churches in Italy were closed. Wrath of God is upon His Church because 2000 years of Christ’s teachings are being thrown away to satisfy the needs of a few. Seems this may be the beginning of the end that was started in 1962.
The question that vexes me... have we hit bottom yet with Bergoglio or will the next pope(s) be even worse?
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