Shady business in the Vatican Bank?

Money-laundering of money, an indiscretion or awkward person? The Vatican remained silent in

lathe to the resignation, when it was about to be stopped, the Director of the Vatican Bank, Ettore Gotti Tedeschi.

Tedeschi directed the Istituto per le Opere di Religione (Institute for works of Religion), which is, in reality, the Vatican Bank. Its history goes back to the 19th century, but with its structure and current name exists since 1942. In recent decades, were again and again accused the institution of being involved in shady business. A new milestone in this tale of alleged corruption is the resignation of its director, Ettore Gotti Tedeschi.

According to the Vatican, Gotti Tedeschi "has failed to perform certain tasks, despite repeated warnings". More details are not mentioned. For this reason, triggered speculation on what may be the real reasons for his resignation. Some Italian media barruntan it may be due to any issue related to the so-called "VatiLeaks" scandal. Several received confidential documents, some of them related to the financial conduct of the Vatican. But in this case, also reportedly heavy old investigations carried out on alleged breaches by laundering money by Gotti Tedeschi, although research is finally stored.

One of the world's most opaque banks

"It's a very special Bank, a bank that moves billions, also in real estate", says Professor Wolfgang Gehrke, banking expert and President of the Center for Finance of Bavaria, in conversation with Deutsche Welle. "It is a bank that develops its activity in the markets for the Vatican and that boasts of being one of the most opaque of the world." "Of course, when there is this lack of transparency, should also tolerate all kinds of rumors arise."

Has Ettore Gotti Tedeschi been a too conscientious Manager?

Has Ettore Gotti Tedeschi been a too conscientious Manager?

Italian investigative journalist Gianluigi Nuzzi has dealt with scrutinize in the alleged financial machinations of the Vatican Bank. In his book Vatican, Sociedad Anónima, Nuzzi reveals the goings of the first Catholic institution in the field of politics, finance, and even accuses the Vatican of taking part in murders and mafia-related businesses. According to the publication of Nuzzi, even the former first Minister Giulio Andreotti, who may also have connections with the mafia, has a secret account in the Vatican Bank with more than 60 million euros.

Too conscientious Manager?

"For love of the Pope". That is the reason that da Ettore Gotti Tedeschi, who until now had a reputation for serious and competent Manager, not to respond to accusations that make you from the Control Commission of the Vatican Bank. "It is better to remain silent." "Otherwise, would come from my mouth right little words," he told the Italian news agency Ansa.

View of the left wing of the building which houses the Vatican Bank

View of the left wing of the building which houses the Vatican Bank

Gotti-Tesdeschi was hired as Manager in 2009, after a professional stint in the Banco de Santander. If during this time made his work so comprehensively that ended up proving a person uncomfortable and even dangerous speculation. "The financial intrigues of the Vatican which trafficking in my book already occurred before that took possession of the current Pope" said Nuzzi two years ago to the Bavarian local newspaper Hilpoltsteiner Zeitung.Sin however, there is a sort of Pact of silence between the representatives of the Church. "Nobody must uncover what is now hidden, including extortion, corruption and money-laundering".

Gehrke, for its part, believes that there is a tendency of the current Pope to change all this. "The Pope is the Vatican Bank to reach the European standards of transparency, which until now had not done." "But still do not know how to work on this bank or if the money laundering occurred". Among the few people in the world who can tell, is Ettore Gotti Tedeschi. And also the Commission's Control of the Vatican Bank. Among them, representatives of the curia, which "have experience in the capital markets".

Arrested the suspect in the case VatiLeaks

The Butler of the Pope arrested

In the meantime, stopped a suspect case VatiLeaks. The ilfoglio.it website and the Ansa news agency reported that a steward of the Pope, who has worked since 2006 in the Vatican, could have revealed confidential information. The Commissioner of the Vatican is carrying out investigations on this matter.

It is assumed that the Vatican will do its utmost to not transcends more information due outside its walls, as it was the case with Monsignor Renato Dardozzie (1922-2003), a close associate of John Paul II, who ordered to publish his memoirs with data on the Vatican finances which served as base for the Vatican, Sociedad Anónima, Nuzzi book.

Author: Tobias Oelmaier/MS

Editor: Rosa Muñoz Lima