Salt Lake Tribune · Oct 22, 2019
Vatican denies risk of default over structural deficit
(AP Photo/Andrew Medichini) Participants at the Italian International Circus festival perform for Pope Francis during his weekly general audience, in St.Peter's Square, at the Vatican, Wednesday, Oct. 16, 2019.Vatican City • A top Vatican administrator is denying the Holy See risks default over its structural deficit, saying assertions in a new book about possible financial ruin are overblown.
Archbishop Nunzio Galantino, president of the office that manages the Vatican’s real estate and other assets, told the Avvenire newspaper of the Italian bishops’ conference Tuesday all that is needed is a “spending review” to bring down costs.