ITALIAN MEDIA: Vatican Secretary of State Personally Requested 150mil Euro Loan
Updated: Jan 12, 2021
Leaked Letter on Letterhead from Cardinal Pietro Parolin at Center of Newest Development in Vatican Financial Scandal
VATICAN CITY--(Jan 10, 2021). Italian media outlet Editoriale Domani has reported that within a leaked letter, on letterhead and signed by Vatican Secretary of State Pietro Parolin, shows irrefutable proof that he was the requesting authority for a 150mil Euro loan supporting what he claims was a "valid investment" in a failed London Property--one at the center of ongoing financial corruption scandals.
In the letter on letterhead and dated March 4, 2019, reportedly marked "CONFIDENTIAL--Urgent", Cardinal Pietro Parolin writes the following:
"Most illustrious sir...considering that over time some valid investments have been made, placed in foreign countries, but not easy to liquidate and with profit in the medium term, a refinancing is necessary to protect the assets and also respects the nature of confidentiality. The market trend in recent weeks suggests not using existing liquidity to carry out operations to hedge investments, but to acquire additional liquidity. For this reason, this institution is requested to provide a loan of 150 million euros to be obtained in a short time. This loan may have a two-year maturity and the institution will receive an annual remuneration in line with that which the international market provides for loans of the same maturity granted by state sovereign authorities with an AAA rating. I will be grateful if you would like to give a positive response to this request which responds to the superior needs of the Holy See"
The article continues to add details to what may look to be another piece in the puzzle of financial mismanagement and corruption in the Vatican. It also suggests this is a reason for the "cooling" of relations between Pope Francis and his Secretary of State--along with the recent removal of Cardinal Parolin from oversight of the Vatican Bank, and the Pope's new law liquidating and consolidating all Vatican Assets under APSA (removing from the Secretariat of State direct access to monies).
Questions remain, with such a large sum needed to finance failing property schemes, to whom over 2 billion euros were transferred from Vatican entities to Australia over the last 5 years, and if any of these revelations are connected to Cardinal Pell's original investigations?
One thing seems clear: 2021 will bring with it new sunlight to dark dealings in Vatican City.
FULL ARTICLE, translated by AI: