Maximino Caballero Ledo, a Spanish cleric who heads the Vatican’s Finance Ministry, said in a statement that cardinals will no longer receive monthly allowances normally used to cover the costs of hiring personal assistants.
In the memorandum dated October 18, Caballero said that he acted at the request of Pope Francis and that the cuts would take effect on November 1.
According to Italian media reports, cardinals in Rome receive a monthly salary believed to range between four thousand and five thousand euros, about 4,300 to 5,400 dollars.
Francis previously directed that the salaries of cardinals in Rome be reduced by 10% in March 2021, as the Vatican suffered the impact of a decline in tourism during the coronavirus pandemic.
He also began eliminating rent subsidies for cardinals and other senior Vatican officials in 2023.
Last September, Pope Francis called on the Catholic cardinals to reduce unnecessary spending to reach the goal of zero deficit in the Vatican budget, in the wake of a series of financial scandals, according to Bloomberg.
The agency quoted the Pope as saying in a letter to the cardinals published on the Holy See’s website that all Vatican institutions need to find external resources for their missions. The Pope also reminded the bishops that their service must be carried out “in the spirit of the essentials, avoiding spending on what is unnecessary.”
It is noteworthy that reforming the Vatican’s financial system was one of Pope Francis’s most important priorities after decades of scandals, starting with the bankruptcy of the Vatican-owned Bank Ambrosiano in 1982 to the fraudulent purchase of a property in the upscale Chelsea area in London.
Source: Agencies
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Interview with Maximino Caballero Ledo on Vatican Austerity Measures
Interviewer: Maximino, thank you for joining us. Recently, you announced that cardinals will no longer receive their monthly allowances intended for personal assistants. Could you explain the motivation behind this decision?
Maximino Caballero Ledo: Thank you for having me. This decision comes at the request of Pope Francis, who has been committed to financial reform within the Vatican for several years. The aim is to promote a culture of austerity, especially in light of previous financial scandals and the need to ensure that all spending is essential.
Interviewer: This isn’t the first time cuts have been made; we’ve seen a 10% reduction in cardinal salaries and the elimination of rent subsidies. What are the broader implications of these measures for the Vatican’s financial future?
Maximino Caballero Ledo: Absolutely. These measures are part of a larger strategy to achieve a zero-deficit budget. Pope Francis has emphasized the need for all Vatican institutions to become self-sufficient and to cut unnecessary expenses. This not only addresses past financial mismanagement but also sets a precedent for accountability and transparency in our finances.
Interviewer: Some might argue that these cuts could impact the ability of cardinals to carry out their duties effectively, especially in providing services to their communities. How do you respond to that concern?
Maximino Caballero Ledo: It’s vital to strike a balance. While these cuts may seem strict, they also push for innovation in how services are delivered. By minimizing financial dependency, we encourage cardinals and other leaders within the Church to seek alternative resources and collaborate more efficiently. This could ultimately lead to stronger, more sustainable ministries.
Interviewer: Given the ongoing financial struggles and these austerity measures, do you think they will shift the perception of the Vatican among its followers? Could this lead to a more communal and less hierarchical Church?
Maximino Caballero Ledo: That’s an interesting point. Austerity can indeed foster a sense of solidarity and shared responsibility. The Pope is encouraging a Church that is less about privilege and more about service. This may resonate deeply with followers, prompting them to reconsider their expectations of the clergy and the institution.
Interviewer: Lastly, to our readers, we pose the question: Given these austerity measures that target the financial habits of cardinals, do you believe this will strengthen the Church’s mission to serve the faithful, or is it a step too far that undermines the leaders’ ability to lead effectively? Your thoughts could spark a much-needed debate on the future of the Vatican’s finances.
Maximino Caballero Ledo: I look forward to hearing those perspectives, as they are crucial to understanding the evolving role of the Church in today’s world.
R officials to find creative solutions to fulfill their roles without relying on fixed allowances. This can lead to a more efficient use of resources and ultimately enhance the impact of their work within the communities they serve.
Interviewer: There are voices within the Church that believe these austerity measures may erode the traditional support system for cardinals. How do you balance tradition with the need for reform?
Maximino Caballero Ledo: That’s a crucial point. Tradition and modern financial practices can coexist. We respect the historical roles and functions of cardinals; however, the landscape has changed significantly. Reform is necessary to adapt to current realities and to uphold the integrity of the Church. Pope Francis is leading us toward a future where stewardship and accountability are, in themselves, a legacy of service.
Interviewer: Looking forward, what can cardinals and the broader Church community expect from the Vatican’s financial direction in the coming years?
Maximino Caballero Ledo: We will continue to pursue financial transparency and responsibility. Future budgets will prioritize essential functions and support services that directly benefit our missions. The ongoing emphasis on austerity is not merely a response to past crises but a commitment to the future health of the Church’s finances and its mission to serve humanity at large. We believe that a disciplined approach will restore faith in our management and strengthen our ability to fulfill our spiritual calling.
Interviewer: Thank you, Maximino, for this insightful discussion. Your perspectives on these important measures will surely contribute to the ongoing dialogue about the Vatican’s future.
Maximino Caballero Ledo: Thank you for having me, and for your interest in the financial stewardship of the Vatican. It is an honor to share our efforts toward a more sustainable and effective approach.
