Council of Cardinals discuss IOR

Feb,19,2014: A briefing on the second meeting of Pope Francis and the Council of Cardinals (C8) was given on Tuesday by Fr. Federico Lombardi, S.J., director of the Holy See Press Office. He said the meeting was also attended by Archbishop Pietro Parolin, secretary of State. Fr. Lombardi said that on Tuesday afternoon the Council reflected on the results of the Commission for Reference on the Organization of the Economic-Administrative Structure of the Holy See (COSEA).
Fr. Lombardi said the day's events began, as usual, at 7 a.m. with the celebration of Holy Mass in the Domus Sanctae Marthae chapel. The meeting that followed some two later in the same building was spent hearing the representatives of the Pontifical Commission for Reference on the Institute for Works of Religion (IOR), commonly known as the Vatican Bank. Fr. Lombardi explained that this Commission was the result of the Holy Father's wish to acquire a better knowledge of the legal position and the activities of the Institute, to enable greater harmonization of the latter with the mission of the Universal Church and the Apostolic See, within the broader context of reforms involving some of the Institutions which offer support to the Apostolic See. Its task is to gather information on the functioning of the Institute and to report the results to the Pontiff.
The session was attended by Cardinal Raffaele Farina, president; Cardinal Jean-Louis Tauran, member; Bishop Juan Ignacio Arrieta Ochoa de Chinchetru, coordinator; and Msgr. Peter Bryan Wells, secretary.
The Commission presented the work carried out during these months, which was received with great interest by the cardinals, and provided information on the current situation of the Institute and the problems that it must face. Suggestions were offered for future changes, although no decisions were made following the hearing. One of the key points was the mission of the IOR in relation to the action of the Church in the world and not only from the perspective of economic performance. Fr. Lombardi commented that it is important to bear in mind, considering the work of the two Commissions, that their aims are different, but that they both fit into the contextual reality of the Holy See; for this reason the Holy Father wishes to obtain an overall view with regard to the reorganization of its governance and structures. He said the meeting will continue on Wednesday with the C8 Council of Cardinals meeting the Council of 15, but due to the large number of attendees, it will most likely be held in the Apostolic Palace .
Source: VIS