Pope: False power of finance and media

“The world of finance, while necessary, no longer represents an instrument that favours our wellbeing or the life of mankind, instead it has become an oppressive power, that almost demands our adoration, mammon, the false divinity that truly dominates the world”.

This was Pope Benedict XVI’s reflection on the role of finance and the media in today’s world during a visit to Rome’s Major Seminary Wednesday evening. Drawing from St Paul’s Letter to the Romans he said: “Faced with conformity and submission to this power, we [Christians-ed] are non-conformists: it is not having, but being that counts!. We do not submit to this, we use it as a means, but with the freedom of the children of God”.

Financial concerns were also at the heart of the Council of Cardinals discussions at the Vatican this week. The group of 11 Cardinals, drawn from around the world concluded a two day session chaired by the Secretary of State, Cardinal Tarcisio Bertone, on the 2012 draft budget.

In a statement released Thursday, the Cardinals expressed deep gratitude for the support the faithful give, often anonymously, to the universal ministry of the Holy Father. While voicing their satisfaction with the projected budget for the Holy See and Vatican City State, the Cardinals spoke of their concern for the overall global financial crisis which also has had an impact on the Vatican’s own economic situation. This – they said - is particularly evident when it comes to the Holy See whose irreplaceable source of funding comes from the offerings of the faithful.

In 2010, Pope Benedict issued a norm overhauling the Vatican’s financial system to allow the Holy See’s full inclusion on the "white list" of states that have the highest standards of financial transparency in the world. On various occasions in past weeks, Vatican Press Office Director, Fr. Federico Lombardi has underlined efforts being made in this direction, contrary to many recent media reports.

Speaking to seminarians this Wednesday regarding the role of the media, Pope Benedict said "today there is much talk of the Church of Rome, of many things, we hope they will also speak of our faith, the exemplary faith of the Church of Rome." Listen to Emer McCarthy's report: