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Vatican Bank

THE VATICAN Bank scandal is one of those affairs which will not fade away and still haunts the media, because the secrecy of the authorities (in this case, especially of the independent Vatican state) provides the breeding ground for conspiracy theories of all kinds. As time goes by, fact, semifact, fiction, and pure nonsense become inextricable. In the beginning of the Vatican Bank scandal some major factors linked together: unprofessional management by Catholic clergy not trained for the high-risk banking business, a profit orientation of a Catholic institution not bound by the high moral standards proclaimed by the Catholic church, criminal elements within and outside the bank, and last, but not least, the chaotic Italian political system since World War II.

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