Vatican 'on the verge of bankruptcy' as world's smallest country struggles to pay pensions
The Vatican is on the brink of bankruptcy and may not be able to meet its pension obligations after a collapse in revenues.
The latest financial statements showed the Vatican- the world's smallest country - ran an operating deficit of 83 million euros (£69m) in 2023, five million more than in 2022.
One key reason for the deficit is a collapse in donations from Catholic Churches around the world, as well as from the public.
Donations are one of three major sources of income for the Vatican, along with monies received from real asset assets and museum entry fees.
Many Catholics have stopped their donations after growing disillusioned with the reforms of Pope Francis.
At the same time, visitor numbers to the city-state have still not recovered to their pre-Covid levels.
The Vatican hopes to boost its coffers from an expected increase in tourists to Rome next year.
The city is preparing to celebrate the Great Jubilee, which commemorates the union between Christianity and the Roman Empire at the Council of Nicaea 1,700 years ago.
The Jubilee is expected to attract over 35 million pilgrims, eager for indulgence from their sins.
https://www.msn.com/en-gb/money/other/va...r-AA1v8mNq
The Vatican is on the brink of bankruptcy and may not be able to meet its pension obligations after a collapse in revenues.
The latest financial statements showed the Vatican- the world's smallest country - ran an operating deficit of 83 million euros (£69m) in 2023, five million more than in 2022.
One key reason for the deficit is a collapse in donations from Catholic Churches around the world, as well as from the public.
Donations are one of three major sources of income for the Vatican, along with monies received from real asset assets and museum entry fees.
Many Catholics have stopped their donations after growing disillusioned with the reforms of Pope Francis.
At the same time, visitor numbers to the city-state have still not recovered to their pre-Covid levels.
The Vatican hopes to boost its coffers from an expected increase in tourists to Rome next year.
The city is preparing to celebrate the Great Jubilee, which commemorates the union between Christianity and the Roman Empire at the Council of Nicaea 1,700 years ago.
The Jubilee is expected to attract over 35 million pilgrims, eager for indulgence from their sins.
https://www.msn.com/en-gb/money/other/va...r-AA1v8mNq
teachings of the Bible are so muddled and self-contradictory that it was possible for Christians to happily burn heretics alive for five long centuries. It was even possible for the most venerated patriarchs of the Church, like St. Augustine and St. Thomas Aquinas, to conclude that heretics should be tortured (Augustine) or killed outright (Aquinas). Martin Luther and John Calvin advocated the wholesale murder of heretics, apostates, Jews, and witches. - Sam Harris, "Letter To A Christian Nation"
