Francis Formally Strips Secretariat Of State Of Assets

Signing a "law," Francis formally stripped the Vatican's Secretariat of State headed by Cardinal Parolin of its financial and real estate assets.

The move follows a bungled management of hundreds of millions of euros and investments that are now subject of a corruption investigation.

Further, in the last five years, US$1,7 billion were transferred to unknown recipients in Australia. It is unclear what real effect Francis' "law" will have. Francis is not known for being law-abiding.

Picture: Pietro Parolin, © Mazur, CC BY-NC-SA