Pope selection process potentially influenced by Vatican's financial turmoil in favor of a German candidate
Let's dive into the rumblings of the Vatican's financial woes and whether a German cardinal might just steer them out of the storm.
The papal race has been heating up, and the dark horses aren't just from Italy or the Philippines. Some bets are being placed on a German - Archbishop Reinhard Marx - to take the throne. But why the sudden favoritism?
The German shepherd in the Vatican's backyard, Marx, is said to be a whiz with numbers. He's the guy in charge of the Vatican's economic council and has been tasked with presenting the papal budget. And, boy, do the books look grim. The deficit of the Holy See has escalated significantly, hitting a whopping €87 million in 2024[1]. Despite considerable cuts, the problem still looms large, according to a nameless cardinal chatting to Italian paper, "La Repubblica."
Marx presides over a diocese in Germany that's considered one of the richest, with a surplus of €19 million for 2023 and a balance sheet total of almost €4 billion[1]. Rich as a sultan's harem, right? Not too shabby for times when church tax income is taking a nose dive. Add Marx's influence as the former head of the German bishops' conference and an advisor to Pope Francis, and voilà, here's a German papabile. But just how well off are the other German dioceses?
Churches, it seems, are creatures of secrecy, shielding their financials even when they receive public funds. After some juicy financial scandals in Limburg and Freiburg, the bishops' conference made a promise: more transparency. The dioceses have promised to adopt commercial accounting and have their annual accounts audited and published[1].
Cutting the Clergy showing Black
While taxes are an essential source of income for the dioceses, they also have other revenue streams, such as investments in stocks and real estate funds. The dioceses are also deep into the property game, owning commercial properties across Germany, including prime locations like Munich's Stachus and Berlin's Ku'damm.
The dioceses of Cologne and Paderborn, alongside Munich-Freising, are considered the pigs at the trough. Figures from 2020 suggest that Paderborn, with a total capital of over €7 billion, is the burliest of the German dioceses[1]. In 2023, the balance sheet for the Archdiocese of Cologne showed €2.8 billion in equity and a profit of around €5 million. Ten years ago, the total assets were reportedly closer to €3.35 billion.
But not everyone's cashing in big bucks. Dresden-Meißen reported a deficit of over €2 million in 2022[1]. Financial aid to the eastern dioceses from the west has been gradually decreasing and is set to dried up completely from next year. "Our diocese will have to make do with fewer financial resources in the future," Bishop Timmerevers warned in 2023, as reported by the "Sächsische Zeitung."
The true wealth of the dioceses is hard to pin down. After all, the Caritas, religious communities, and other church-affiliated organizations also have their own budgets and assets. Real estate is frequently held by the local parish communities.
No Clear Picture
Political analyst and church critic Carsten Frerk took a crack at summing up the value of the Catholic Church's assets around 20 years ago. His calculation reached roughly €270 billion[1]. But the man himself admitted: exact figures on church wealth are as hard to come by as finding a four-leaf clover in a dandelion field.
The dioceses are bracing themselves for less cash in the coming years, also thanks to an increase in church departures. In Munich-Freising alone, church tax revenue plummeted by €41 million in 2023. Financial director Markus Reif was "rather pessimistic" about the future when presenting the figures[1]. Cuts in the building sector might be on the horizon.
So, does Archbishop Reinhard Marx's financial prowess make him a worthy pope? That's a call for the cardinals. But know this, Marx isn't regarded as a front-runner in church media. And yet, a cardinal colleague confessed that Marx seems to be "all smiles."
This article was originally published on capital.de
Sources:1. ntv.de
- Catholic Church
- Vatican City
- Germany
- The German shepherd in the Vatican's backyard, Archbishop Reinhard Marx, is said to be a whiz with numbers, serving as the head of the Vatican's economic council and responsible for presenting the papal budget.
- Marx presides over a diocese in Germany that's considered one of the richest, with a surplus of €19 million for 2023 and a balance sheet total of almost €4 billion, despite a decline in church tax income.
- In the realm of general-news and politics, there are suggestions that a German Pope, such as Archbishop Reinhard Marx, could help alleviate the Vatican's financial woes, given his expertise in financial matters.
- The employment policy within the Vatican could potentially benefit from the expertise of Archbishop Reinhard Marx, who has demonstrated his financial acumen in managing the Vatican's annual budget and the finances of his German diocese.
- As the dioceses face decreasing financial resources, suggestions for employment policy within the Catholic Church could involve greater transparency in financial reporting, as per the promise made by the bishops' conference following financial scandals in some dioceses.
