Vatican bank chief ousted after unanimous no-confidence vote

October 17th, 2011

USA Today, May 24, 2012

VATICAN CITY (AP) – The president of the Vatican bank was effectively ousted Thursday after receiving a unanimous vote of no-confidence from bank overseers for having leaked documents and failed to do his job at a critical time in the Holy See’s efforts to show transparency in its finances, the Vatican and officials said.

Ettore Gotti Tedeschi has been a polarizing figure in the Vatican ever since he was named president of the bank, known as the Institute for Religious Works, or IOR, in 2009. He is being investigated on suspicion of money laundering by Italian magistrates, but the investigation isn’t believed to have factored into the decision since the Vatican considers the investigation to be motivated by outside political interests.

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