Vatican Runs Deficit Amid Global Economic Crisis

VATICAN CITY — The Vatican said Saturday it ran a deficit in 2008 as its finances and donations from across the world were hit by the global economic crisis.

The Vatican posted a budget deficit for a second straight year, though the figures improved strongly from 2007. The Holy See's 2008 deficit was around euro0.9 million ($1.28 million), compared with a loss of euro9.06 million a year earlier.

The financial report released Saturday by the Holy See's press office listed revenues of euro253.9 million and expenses for euro254.8 million.

Most of expenses went to support the activities of Pope Benedict XVI and the Holy See's offices, especially Vatican Radio and other media divisions, the report said.

It said the separate administration of the Vatican City state was particularly hit by the economic crisis. High costs to restore the Vatican's cultural treasures and ensure security left the tiny state with a euro15.3 million deficit, after closing 2007 with a euro6.7 million gain.

The Vatican said annual donations from churches worldwide, the so-called Peter's Pence, were down to almost $75.8 million from $79.8 million in 2007. Leading donors were faithful in the United States, Italy and Germany.

The pope uses the fund to help churches in poor countries and other charitable causes.

The Vatican has published the annual report since 1981, when Pope John Paul II ordered financial disclosure as part of his efforts to debunk the idea that the Vatican is rich.

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On the Net:

http://www.vatican.va

(This version CORRECTS UPDATES with details; corrects larger loss was in 2007, not last year.)

Comments

[SansArc]

Why is it funny that this is in the business section?

[BigBagel]

The Catholic Church has a legacy that's made it's mark in music, the arts, literature. They have the Sistine Chapel you have Pat Boone singing some schmaltzy Jesus song. The high point of American religion: some crazy lady with big hair babbling on cable TV trying to sell a prayer cloth. They have Georgetown University and Notre Dame. You have Liberty University.

[Jaybot]

Don't forget the Dark Ages, now there's a proud legacy.

[BigBagel]

Yes and who preserved culture during that time? Who provided the building blocks of the enlightenment?

[Hank007]

Yet they loath the homosexuals who created that music and art. Heck most still refuse to admit the genius who painted the homo-erotic imagery of the Sistine Chapel was really gay.

[Jaybot]

I suppose they could go back to selling indulgences.

[CR46]

Doon't worry the Catholic Church is continuing to steal land from the poor in third world countries....

[BigBagel]

and selling it to the J:ews and the Illuminati. Right?

[Airmail56]

Perhaps they should not have given those Millions to ACORN.

[CAHertzfe]

That was a stupid remark.

[Airmail56]

Not as stupid as the Church (very anti-abortion) giving money to ACORN ( very pro-abortion)

[keepemhonest]

Tell the pope to sell those chapters in the Bible that no one has ever seen ... plus the pope should sell all that gold he hords in the basement of the vatican.

[kjstjohn]

Secret Mark. Are there any other books/chapters we should be clammoring for?

[hypnotoad72]

Definitely not Ezekiel 23:20
http://www.biblegateway.com/passage/?search=ezekiel+23:20

More like these, and various others not found here:
http://www.surfinthespirit.com/finances/money-quotes.html
http://www.bible-quotes-science-info.com/art/a-6-possess-inherent-man.htm

Assuming the Bible reflects the utter reality, of course...

[keepemhonest]

People stopped donating to the Church because their donations were funding pedophiles.

[Airmail56]

So does the DNC...

[SansArc]

Since when did the DNC fund the church.

[Jase84]

Good. Would I be out of line in hoping the establishment crumbles?

[BexSF]

No, you wouldn't be out of line.

Too bad it hadn't happened sooner, even Centuries ago. Think of all the lives that could have been saved.

[NevaforLeadership]

I don't consider the church the establishment.

Why would you want the establishment to crumble? Where would you work?

It's a given that anyone who has such a wish list is not self-sufficient or capable of working for himself/herself.

[Pleneras]

http://www.trosch.org/bks/rvw/millenari.html

Fraud and Immorality
The Competitors –

In ecclesiastical circles, and particularly in the Vatican Curia, homosexuality is either a slander that taints the victim for the rest of his life, or a competition that prelates enter to see how much they can get away with. It is, nevertheless, a dangerous sport played by the less sophisticated.

In some Vatican circles, the phenomenon of homosexuality
–a state of being that today is regarded with clemency and understanding– can help a hopeful candidate advance more quickly and cause a rival to lose the desire to present himself for promotion. The intrigues are cruel, and the protagonists are even more so.

In the list of hopefuls for promotion, the one who gives himself from the waist down has a better chance than the one who gives his heart and mind to the service of God and his brothers. In those cases, charm is worth more than merit.

[thenextquagmire]

The only thing I could think of is: GOOD!!

[BeenieMon]

i guess that means less cash for ped.o.phile priest victims.....the N.A.Z.I. KKKatholic cross dresser needs a new hat.

[helonias]

26:1 “You shall not make idols for yourselves or erect an image or pillar, and you shall not set up a figured stone in your land to bow down to it, for I am the Lord your God.

[SansArc]

They always miss those little details.

[helonias]

Second Commandment

Sell off some graven images perhaps

"You shall not make for yourself a graven image,
or any likeness of anything that is in heaven above,
or that is in the earth beneath, or that is in the water
under the earth; you shall not bow down to them or serve them;
for I The Lord your God am a jealous God, visiting the
iniquity of the fathers upon the children to the third and
the fourth generation of those who hate Me, but showing
steadfast love to thousands of those who love Me and keep My Commandments."

[StephBr]

Blah blah blah

[richdibo]

Eleventh Commandment

Ignore or be selective with the prior ten.

[cozen]

Who will bail it out?

[helonias]

Jesus answered, 'If you want to be perfect, go, sell your possessions and give to the poor, and you will have treasure in heaven. Then come, follow me.'"
-Matthew 19:21

[NevaforLeadership]

Jesus most likely never existed. Mathew and his crew made him up, each plagiarizing from the other.

[kjstjohn]

Matthew and his crew were not smart enough to imagine Jesus though they no doubt elaborated and in some instances suppressed.

Jesus was one of the great lights of the world. Only another great light such as the Buddha could have made him up.

[helonias]

(Lk 12:15) "Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions."

[JackRusselTerrier]

Churches should not be allowed tax exempt status. Only what is donated to charity should be tax exempt. These donations should have to spent within the border of the United States. Spreading one's religion does not count.

[kjstjohn]

I am a Baptist but one of the things that I appreciate about the missionary work of the Catholics overseas is that it does not focus on conversion but rather in feeding, clothing, and healing. I read this in a book written by a Catholic missionary/monk and am welcome to being corrected if I am wrong. I do agree that it is troublesome that tax-free dollars are used for purposes of proselytizing.

[StrangeAngel]

You are incredibly gullible if you think the Catholic Church does anything for anyone at any time in any part of the world without an iron-clad agenda that increases the power and financial stability of its own golden and bejeweled corridors.

[HPdevotee]

I suggest you read more books and not ones written by co-conspirators.

[NevaforLeadership]

Written by a Catholic missionary/monk. No bias or promotion there!!

[roshni]

Even Mother Teresa was proselytizing in Calcutta.

[Steamboater]

Gues the pope will have to start sleeping on seconds for sheets instead of the $1,200 ones he's been sleeping on.