Red Wolf: July 2008 Archives

July 10, 2008

Holy See Plunges into Red

Vatican City: Due to the internets being a bit recalitrant, this gem of fiscal losses has come my way. The Vatican has announced that it has had its first loss in four years and quite a hefty loss it is too at €9.1m (£7.25m or US$14.3m). Not something you're likely to find down the back of the couch. It seems the weak US dollar is being blamed and I was a wee bit baffled by this as I would have thought the Holy See would have been running on the Euro.

Much of the Vatican's income comes from donations from Catholics around the world. The US was the largest single contributor to Peter's Pence — the collection used by the Pope for charitably donations — sending almost US$19m (£9.5m).

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This page is an archive of recent entries written by Red Wolf in July 2008.

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