Vatican denies risk of default over structural deficit

A top Vatican administrator is denying the Holy See risks default over its structural deficit, saying claims in a new…

A top Vatican administrator is denying the Holy See risks default over its structural deficit, saying claims in a new book about possible financial ruin are overblown. Archbishop Nunzio Galantino, president of the office that manages the Vatican’s real estate and other assets, told the Avvenire newspaper of the Italian bishops’ conference Tuesday that all that is needed is a “spending review” to bring down costs.

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