The president of the Vatican bank has effectively been ousted after receiving a unanimous vote of no-confidence from bank overseers for having leaked documents and failed to do his job at a critical time in the Holy See’s efforts to show financial transparency, officials said.
Ettore Gotti Tedeschi has been a polarizing figure since he was named president of the bank, known as the Institute for Religious Works, or IOR, in 2009. He is under investigation for alleged money laundering by Italian magistrates, but the investigation isn’t believed to have factored into the decision since the Vatican considers the probe to be motivated by outside political interests.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.