Pope shakes up running of Vatican funds after London property scandal

Pope Francis has stripped the Vatican's Secretariat of State of control over its own funds, moving them to the supervision of its economic offices in an attempt to contain the fallout of a scandal over a luxury London property deal. The Secretariat of State is the most important department in the Vatican administration, overseeing the Holy See's diplomacy and general affairs inside the Vatican and has historically controlled its own funds, investments and real estate holdings. An investigation into the London deal, which involved several middlemen, led to the suspension last year of five Vatican employees, the resignation of its police chief and the exit of the former director of its Financial Information Authority.

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