The Holy See’s Financial Debt: Silver and Gold I Have Not!

Unlike others, the Holy See is rather transparent about their finances.

The Holy See’s press office released its 2009 financial report showing €250.18 million in revenues against expenses of €254.28 million. If you punch that into your calculator you’ll see that this means a deficet of 4.1 million Euros. At the current exchange, in US dollars that’s $5.2 million short.

This gives all new meaning to what Saint Peter, our first pope, said in the first century:

“But Peter said, “Silver and gold I have not!, but I give you what I have; in the name of Jesus Christ of Nazareth, walk” (Acts 3:6).

So this year when your priest announces the annual “Peter’s Pence” collection (the collection for the Pope), remember that the pope is in the red – and I’m not talking about the liturgical rubrics…