EUROPENANCEO
Author: Sophie Perryer
The Vatican’s ultra-secretive culture and dubious financial dealings have frequently mired it in scandal. We chart the most memorable

The Vatican is exceptional in every sense of the word. The tiny city-state, surrounded by Rome, is the smallest state in the world by area and population, yet it wields a unique power over the world’s 1.2 billion Catholics, by dint of the fact that it holds the seat of the religion’s church.
It is independent of, yet fully owned by, the Holy See, the ecclesiastical jurisdiction of the Pope. It is, quite literally, a law unto itself.
The Vatican’s relationship with the EU is complex. Despite being located within a central EU member country, the state is unable to join the union as it does not adhere to the Copenhagen Criteria.
These regulations, laid out by the European Council, dictate that candidate states must be free market democracies. The Vatican is an elective and ecclesiastical monarchy, with the only economic actor being the state itself.
Continue reading “Top 5 financial transgressions committed by the Vatican”