‘The market giveth and the market taketh away’
He also has to find new revenue to balance the Vatican’s budget.
After making a profit for eight years, the Holy See, the central administration for the Church, ran deficits in the three years through 2003, the Vatican’s financial statements show. The separately run budget for Vatican City, the independent papal state in Rome, was also in the red in 2003, the latest year for which figures are available.
