President of the Vatican Bank dismissed!!!

President of the Vatican Bank dismissed!!!
The president of the Vatican bank was dismissed. Gotti Tedeschi abandoned, this Thursday, the president of the Institute for Works of Religion (IOR) after a vote of no confidence of the board of the institute. A Vatican statement says that "recently, relations between managers and president has been deteriorating "and that" will soon be named a new president to spark wide and effective relationships between the IOR and the financial community, based on respect for internationally accepted banking rules. " The deposed president now had been appointed in 2009 after the decision of Benedict XVI in the Vatican Bank to adapt to the rules of financial transparency. Dismissal time leaks Although the note did not specify the Vatican, this resignation may be linked to the controversial leak of secret documents from the Vatican, which was released the press over recent months. In these documents it became clear that there is a serious internal conflict between members of the Roman Curia and which related to issues such as allegations of cronyism and corruption and also the management of the Vatican Bank. Recently, even the Pope has appointed a commission of cardinals who took the responsibility to find out who was behind the leaks and prevent new cases there. These days, an Italian journalist published a book in which publishes many documents secret and that the Vatican has tried to halt proceedings.
[link to rr.sapo.pt]

Whoa...thatsa spicy a meat-a-ball!!

something wicked this way comes......

The Vatican is friggin corrupt in ain't even funny...

This is from a Austria newspaper...love the title!

Money laundering suspicions to go head of the Vatican bank must

24.05.2012 | 21:34 | (DiePresse.com)

After a vote of no confidence was forced to resign Gotti Tedeschi. He does not satisfy the "essential requirements" of his office.

The head of the Vatican Bank, Ettore Gotti Tedeschi, resigned on Thursday after a unanimous vote of no confidence of the Board. How does the Vatican Press Office announced that Gotti Tedeschi is not enough for the "essential requirements" of his office. Despite repeated warnings, the "situation has worsened," have. The board members felt that the pace with "sadness", but he was important to preserve the "vitality" of the bank.

Gotti Tedeschi's successor for the man be sought that could rebuild "effective and substantial relationship" between the bank and the financial community. This should be based on "mutual respect and internationally accepted industry standards," it said in the statement continued.

Gotti Tedeschi, an expert on financial ethics, stood since 2009 at the top of the well-known as the Institute for Religious Works (IOR) Vatican Bank. The former head of the Italy-Spain's Santander bank should take account of the Vatican Bank in order and free the IOR from Ruch shady business. But already in 2010 initiated the prosecution proceedings against Gotti Tedeschi. He and another bank managers are suspected to have concealed the names of financial transactions of the true client in violation of a law against money laundering. Both deny the allegations.

(APA)

BINGO! dang newspapers oversea's give us the good stuff:

Vatican: Gotti Tedeschi resigns from the IOR

VATICAN CITY
Vatican Insider

The President of the IOR has resigned from his post in light of the tensions over the Saint Rafael case and the Vatican transparency law. He will be succeeded by Ronaldo Hermann Schmitz

ANDREA TORNIELLI
Vatican City

Ettore Gotti Tedeschi has resigned from his post as President of the IOR, the Institute for the Works of Religion. He did so during a meeting of the Supervisory Council, the Vatican bank’s administrative council for the laity, before a no-confidence vote was passed. He is to be succeeded by Vice President Ronaldo Hermann Schmitz. The reason behind the Italian banker and economist’s decision seem to be the internal tensions that have been growing over the past months over the new transparency law which was supposed to get the Holy See onto the white-list of financially virtuous countries.

Gotti Tedeschi was appointed as President of the Vatican bank in 2009, to advance financial transparency work, as Benedict XVI had requested. A few months after his arrival, the IOR became involved in an inquiry carried out by the Roman magistrate into some money transfers: Gotti Tedeschi had decided to collaborate with the judges, agreeing to answer all questions without the need for any international letters of request.

A communiqué issued by the Holy See Press Office says that "after deliberation, the Board decided unanimously on a no- confidence vote against the President, on the grounds that he failed to carry out functions that were of primary importance to his office."