instead guarantee significant savings and improve the management of the problems. 5 We have not been able to identify clear guidelines to follow for investments of financial capital. This is a serious limit and it leaves too much discretion to the managers, which increases the overall level of risk. The situation that is applicable to the investments of the Holy See, Governorate, Pension Fund, Health Insurance Fund, and other funds managed by autonomous entities should be immediately improved ⦠The managers must clearly shoulder their responsibilities for preparing the budgets and sticking to them in a more realistic and effective way.
We are aware that we have presented strong and sometimes severe advice and suggestions. We sincerely hope that Your Holiness realizes that our actions are inspired by our love for the Church and our sincere desire to help and to improve the temporal aspect of the Vatican. We and all our families beg for Your apostolic blessing, while confirming ourselves as the humble and devout children of Your Holiness.
After reading the letter, Agostino Vallini turned pale. He had been made a cardinal by Benedict XVI and since 2008 had served as the Vicar of the diocese of Rome. He immediately sensed the explosive potential of the documents and invoked the need for confidentiality. These papers âare under papal sealââhe hastened to recall, addressing the Popeââand we hope they conserve ⦠not for our part but, you knowâ¦â
Valliniâs main concern was that nothing be leaked outside the Vatican walls. He was well aware of the impact that this report could have on public opinion. The elderly cardinal turned around slowly to gaze at his colleagues and observed only silence and anxiety. On the surface the reaction was placid, but there were clear undercurrents of tension, dismay, and shock.
The cardinals did not know the full extent of the Vaticanâs troubled economic situation. Earlier that year, during the congregations for the Conclave in March, they had received information, reports, and numbers, but they were piecemeal and disorganized. A more reassuring picture had been painted instead by the same cardinals who were in charge of the various dicasteries.
None of the members of the Curia were accustomed to the new requirement that information be transparent and openly circulated. Francis probably saw what he had been expecting. As a good Jesuit, he would use the alarming documents he had received from the auditors to make everyone understand that from that moment on, nothing would be the same.
The Holy Father took the floor. He delivered an indictment that would last sixteen interminable minutes, using harsher words than had ever been expressed by a Pontiff to the assemblyâwords that were supposed to remain secret, protected by the gravity of their contents and the confidentiality demanded of all those who had access to the room. But that would not be the case. Foreseeing the risks that his innovative action would entailâsabotage, manipulations, theft, break-ins, and attempts to discredit the reformersâsomeone recorded the Popeâs charges, word for word.
*Â Â Â *Â Â Â *
Dead silence fell over the room as the Pontiff prepared to speak, the clicking on of the recorder going unobserved. On the recording, the sound quality is perfect, and the voice of Francis unmistakable. He is calm and dry but firm and resolute. He speaks in halting but clear Italian, as befitting the Bishop of Rome, leaving long pauses between each item of his indictment.
The silences lend even greater drama to his words. It is evident that Francis wants every cardinalâincluding the ones who tolerated bad behavior for yearsâto realize that the time has come to choose sides:
We have to better clarify the finances of the Holy See and make them more transparent. What I will say is that to help, I would like to identify some elements that will