In the article, the Cardinal explains:
It is important to point out that the Vatican is not broke. Apart from the pension fund, which needs to be strengthened for the demands on it in 15 or 20 years, the Holy See is paying its way, while possessing substantial assets and investments.
In fact, we have discovered that the situation is much healthier than it seemed, because some hundreds of millions of euros were tucked away in particular sectional accounts and did not appear on the balance sheet.
The Director of the Holy See's Press Office, Father Federico Lombardi, SJ explained to journalists this morning that we should bear in mind that Cardinal Pell did not speak about illegal or illicit funds, nor about funds which were badly managed, but about funds which had not been included in the balance sheet of the Holy See, nor that of the Vatican City State. The Secretariat for the Economy learned about their existence in the course of their study and revision of Vatican administrative procedures, a process which is being undertaken in order to have a comprehensive understanding of most appropriate measures which should be implemented in order to be able to understand the management procedures in effect. This is precisely the concrete evidence and fruit of the constructive cooperation which exists between the various Vatican institutions.
Moreover, it is a known fact, previously explained publicly by the Prefecture for Economic Affairs, that the consolidated balance sheets of the Holy See and the Vatican City State, which are examined every year by the Council of 15 Cardinals, did not include in any way the complete set of all the many administrations which are led by the Vatican, but only te principal institutions of the Curia and the State.
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