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Banco the Further Adventures of Papillon: The Further Adventures of Papillon

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Up until 2008, according to one former senior Vatican banker, regulation of the Vatican bank was “indulgent”. This person says that no pressure was brought to bear on the Vatican to clean up its act either by regulators overseeing its correspondent banks or by officials within the Holy See.

I won't say too much about his life, other than one example: he gets involved in trying to relieve a community of very tough miners of their diamonds and gold through a gambling scam, in a tiny town in the Venezuelan rainforest where there is no law to speak of - just like the Wild West but in South America. You'll have to read it to find out the result! The Financial Times has investigated the extent of the mismanagement at the Vatican bank. In this audio slideshow, find out how the scandal erupted and what has been done to help strengthen the bank. On üç yıldan beri öç almayı kurduğumu biliyorsunuz. Bu on üç yılı yüz altmış beş günle sonra yirmi dört saatle ve her saati altmış dakikayla çarpın, yine de çektiğim acıları ödetmek için kaç kere kendi kendime ant içtiğimi bulamazsınız."The FT interviewed two dozen bankers, lawyers, regulators and Catholic insiders over 11 months to understand how the murky operations of a bank with €5bn in assets, and which says its aim is to serve the global mission of the Catholic Church, had unnerved bankers, regulators and governments across Europe and the US. Pe fluviu, pe pânza de aburi ce se înalţă din apa încălzită de soarele fierbinte al tropicelor, par să se proiecteze ca pe un ecran imaginile drumului pe care l-am parcurs. Refuz să asist la derularea acestui film, îl iau pe Picolino de braţ, întorcând spatele acestui ecran straniu, şi-l târăsc repede, după ce mi-am scuturat umerii parcă pentru a mă debarasa definitiv de noroiul trecutului.

Both Bruelhart and von Freyberg have tried to calm internal fears about the Vatican’s suspected links to money laundering. Its volume of transactions – about €2bn in and out annually – is too small to be much of a threat, say people familiar with their thinking. But suspicions remain that the bank may have been a refuge for tax cheats from Italy, which European officials admit has a problem with tax evasion. The pope had also asked for a review of the bank’s activities and appointed two boards made up of senior clergy and lay bankers to give advice regarding the future of the institution so that “it was in harmonization with the mission of the Catholic Church”, according to Vatican statements. The banker, who declined to comment for this story, added his voice to the many in and outside the church asking the world’s smallest city-state to change its ways. “Transparency is important and necessary,” Sutherland said, according to two people who were informed of proceedings in the closed-door meeting. Today I finished the second #book from #HenriCharrière which is called #Banco the continuous of #Papillion book that there is a movie by this name.Instantly see your account balance for Savings, Current, Credit Card, Cash Card, and Time Deposit accounts. Bankers familiar with the transition between popes describe the past year as marking an epochal change. The Vatican hierarchy is taking steps to appoint experienced regulators to head a new, prudential supervisor, Vatican insiders say. Big Four auditors are looking at its accounts. The Vatican bank staff was once dominated by Italians; now it is opening its doors to foreign bankers with global experience. The clean-up has also extended to enhanced oversight of the Vatican’s treasury, known as the Administration of the Patrimony of the Apostolic See (Apsa), which controls the Catholic Church’s real estate portfolio and oversees holdings of government bonds. Sutherland and fellow international financier Bob McCann, chief executive of UBS Americas, are listed as two of five “consultors” or advisers at Apsa, according to a 2013 Vatican directory. The Vatican announced in October that its consultors would become part of a newly created supervisory board. Neither man would respond to questions about the board but there is work to be done there as well.

A handful of current accounts was recently discovered within Apsa – to the surprise of auditors and Vatican officials – and they are in the process of being moved to the Vatican bank, according to people with direct knowledge of the events. The very existence of these accounts is yet another sign, these people say, of how the financial system operated for years without any clear rules. One adviser to the Vatican, who lives hundreds of miles from the marble colonnades of Rome, says the pursuit by prosecutors and regulators of the Vatican created a shift in mood among bankers to the Holy See. Under pressure themselves from a clampdown by European regulators, the banks were no longer open for business with a secretive Vatican. “There was a no-nonsense approach from the correspondent banks,” this adviser says. “‘We are not here to cover the ass of the Vatican.’”

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Henri Charriere (aka Papillon): convicted of a murder he didn't commit in 1931 and sentanced to life in penal servitude, including Devil's Island, narrated his horrendous experiences and subsequent escape in Papillon, his first book. How far the Vatican reforms go depends on the man at the top. Named after a saint who was plain-spoken and happy with simple pursuits, Pope Francis’s approach so far has inspired the bank investigators to work some long and late hours. For them, his early reflections on what banking should be – in this bejewelled city of saints and sinners, or anywhere in the world – is worthy of some meditation. “Some say the best thing is to have a bank, others say it should be a relief fund, other recommend it be closed down,” Pope Francis said in July. “I trust the work the [Vatican bank] team is doing . . . But whether it’s a bank, a fund, a whatever, it should be based on transparency and honesty.” Piang dipped his hands into the cool water, and pulled them up by long slender roots; lily-pads offered their beauties and soon the banco was a bower of fragrant and brilliant flowers. Ofiţerul care ne-a însoţit de la ocna din El Dorado ne întoarce spatele, după ce ne face un semn cu mâna. Forcing change was a challenge. Part of the problem was that the European Union had no regulatory power over the Vatican’s bank. So it was decided that the Bank of Italy, at the time headed by Draghi, would put pressure on the banks that did business with the Vatican. A former Italian minister with direct knowledge says: “That is the way you do it in these situations, when you have a state that you do not have regulatory powers over but you want to enforce changes. You make their life very difficult. You tell the banks they are not allowed to do business with them.”

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