FINANCE: Diversification at the Vatican

We are, to put it simply, more performance-minded now.

—Egidio Cardinal Vagnozzi

Head of the Vatican's Prefecture

for Economic Affairs

Wild rumors and extravagant conjectures have always surrounded the financial dealings of one of the world's largest and most reticent organizations, the Vatican. Partly to dispel such speculation, the Holy See has now chosen to lift some of the secrecy covering its investments. Journalist Paul Home, a Rome-based U.S. financial correspondent, was allowed over a period of 18 months to interview Cardinal Vagnozzi and other men who administer the church's temporal wealth....

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