Measures for the Vatican to preach financial ethics with the example
Legislation of the Pope "vital" for the evangelical mission of the Church

By: Benedict XVI | Source: Zenit.org

VATICAN CITY, JAN. 6, 2011 (Zenit.org) .- Benedict XVI has published an apostolic letter in the form of "motu proprio" "for the prevention and contrast of illegal activities in the financial field and monetary policy ", with which it seeks the Holy See to become an eloquent example of economic and financial ethics in all its activities.

According to the spokesman of the Holy See, Father Federico Lombardi S.I., "this is vital for the evangelical mission of the Church."

The reasons that led the pope to write the document, published by the Information Office of the Holy See on December 30, reveals himself in the document when he wrote that "unfortunately, in our time, in an increasingly global society, peace is threatened by various causes, among which is an improper use of the market and the economy and terrible and destructive violence perpetrated by terrorism, which causes death, suffering, hatred and social instability.

Along with the publication of the letter, the Bishop of Rome has promulgated a new regulation against recycling for the State of the Vatican City and has established that it is valid for all the departments of the Roman Curia and all agencies and entities dependents of the Holy See.

In addition, it has instituted the Financial Information Authority (FIA), whose president and members will be appointed by the same pope, whose mission is to emanate complex and delicate provisions of development, indispensable to guarantee that the subjects of the Holy See and the State of the Vatican City respect the new and important anti-recycling and anti-terrorism obligations.

The process of preparing these laws has been carried out with the assistance of the Joint Committee, provided for by the Monetary Convention between the State of the Vatican City and the European Union (December 17, 2009), composed of representatives of the State of the Vatican City and the European Union. The Delegation of the European Union is composed, in turn, of representatives of the Commission and the Italian Republic, as well as representatives of the European Central Bank.

The document, in the document, takes concrete measures to prevent self-recycling (a case that is not yet contemplated in countries with strict legislation), establishes controls on the entry or exit of money from the State of the Vatican City, regulates the obligations on the transfer of funds and, finally, indicates more rigorous and applicable administrative sanctions, not only to institutions and legal persons, but also to natural persons acting on their behalf.

"The Holy See has always raised its voice to urge all people of goodwill, and above all the leaders of nations, to commit to building, also through a just and lasting peace throughout the world, of the universal city of God towards which the history of the community of peoples and nations advances, "says the Pope in the introduction.

A document for the evangelical witness

Father Federido Lombardi S.I., director of the Information Office of the Holy See, confirms that these new measures of the Pope constitute "an event of great normative importance, but also has a far-reaching moral and pastoral significance".

"All the institutions in relation to the government of the Catholic Church and with that 'support', which constitutes the State of the Vatican City, are integrated from today, in a spirit of sincere collaboration, in the system of principles and instruments legal entities that the international community is building in order to guarantee a fair and honest coexistence in an increasingly globalized world context, "the Vatican spokesman said in a note.

"Since always - it adds -, the illegal activities have demonstrated to have an extraordinary capacity to infiltrate and to contaminate the economic and financial world, but their development at international scale and the use of the new technologies have made them more and more omnipresent and capable of camouflage, so, to combat them, has acquired the utmost urgency to establish networks of control and mutual information between the authorities responsible for the fight against them.

According to Father Lombardi, "it would be naive to think that the perverse intelligence that guides illegal activities does not try to take advantage of the weak and fragile points, which sometimes exist in the international system of defense and control of legality, to enter it and rape him. "

"Therefore, international solidarity is essential for the maintenance of that system, and it is understandable and fair that the national surveillance authorities and international organizations (Council of Europe and, in particular, the FATF: International Financial Action Task Force against the recycling of capital) look with favorable eyes to the States and entities that offer the required guarantees and impose greater links to those that do not comply, "he adds.

Naturally, he acknowledges, "this also applies to the Vatican City and to the institutions of the Church that carry out economic and financial activities."

"The application of the new standards will undoubtedly require a great effort," he acknowledges. "There are new obligations to be respected, new competencies to exercise, all of which will benefit the Church; Vatican agencies will be less vulnerable to the constant risk that inevitably runs when money is handled."

And he concludes: "In the future, those mistakes that so easily become the motive of 'scandal' for public opinion and the faithful will be avoided." In summary, the Church will be more "credible" before the international community and its members. This is vital for its evangelical mission. "