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How the Vatican built a secret property empire using Mussolini's millions
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)
Posted: January 29th, 2013
http://www.guardian.co.uk/world/2013/jan/21/vatican-secret-p...
Office blocks in one of London's most expensive districts are part of a surprising secret commercial property empire owned by the Vatican. Behind a disguised offshore company structure, the church's international portfolio has been built up over the years, using cash originally handed over by Mussolini in return for papal recognition of the Italian fascist regime in 1929. The surprising aspect for some will be the lengths to which the Vatican has gone to preserve secrecy about the Mussolini millions. The Mussolini money was dramatically important to the Vatican's finances. John Pollard, a Cambridge historian, says in Money and the Rise of the Modern Papacy: "The papacy was now financially secure. It would never be poor again." The Mussolini investments in Britain are currently controlled, along with its other European holdings and a currency trading arm, by a papal official in Rome, Paolo Mennini, who is in effect the pope's merchant banker. Mennini heads a special unit inside the Vatican ... which handles the so-called "patrimony of the Holy See". According to a report last year from the Council of Europe, which surveyed the Vatican's financial controls, the assets of Mennini's special unit now exceed 680m (570m). While secrecy about the Fascist origins of the papacy's wealth might have been understandable in wartime, what is less clear is why the Vatican subsequently continued to maintain secrecy about its holdings in Britain.
Note: For deeply revealing reports from reliable major media sources on secrecy, click here.
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