Vatican suffers financial loss

THE Vatican said it has posted its third straight financial loss, registering a €4.1 million deficit for 2009.

The financial report released by the Holy See’s press office listed revenues of €250.18m against expenses of €254.28m.

Most of the expenses went to support Pope Benedict XVI’s activities and the Holy See’s offices, especially Vatican Radio, the report said.

In 2008, the Vatican was €900,000 in the red — a year earlier it posted a €9.06m deficit.

The report said the separate administration of the Vatican City state was particularly hit by the economic crisis as well as by high costs to improve the Vatican’s telecommunications system and restore its cultural treasures and ensure security.

The Vatican has published the annual report since 1981, when Pope John Paul II ordered financial disclosure as part of his efforts to debunk the idea that the Vatican is rich.


Dr Sarah Miller is the CEO of Dublin’s Rediscovery Centre, the national centre for the Circular Economy in Ireland. She has a degree in Biotechnology and a PHD in Environmental Science in Waste Conversion Technologies.‘We have to give people positive messages’

When I was pregnant with Joan, I knew she was a girl. We didn’t find out the gender of the baby, but I just knew. Or else, I so badly wanted a girl, I convinced myself that is exactly what we were having.Mum's the Word: I have a confession: I never wanted sons. I wanted daughters

What is it about the teenage years that are so problematic for families? Why does the teenage soul rage against the machine of the adult world?Learning Points: It’s not about the phone, it’s about you and your teen

Judy Collins is 80, and still touring. As she gets ready to return to Ireland, she tells Ellie O’Byrne about the songs that have mattered most in her incredible 60-year career.The songs that matter most to Judy Collins from her 60-year career

More From The Irish Examiner