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“No Default” in the Vatican – APSA President

“There is no default in the Vatican,” Bishop Nunzio Galantino, the president of the Administration of the Patrimony of the Apostolic See (APSA), told Avvenire.it (October 22).

“We only need a spending review, and that's what we're doing,” he adds.

Galantino explains the 2018 losses of APSA with an “extraordinary intervention” aimed at saving a Catholic hospital “and the jobs of its employees.”

APSA administrates 2,400 apartments mostly in Rome and Castel Gandolfo, as well as 600 shops and offices.

According to Galantino about 60% of the apartments are rented to “needy” Vatican employees who pay a reduced rent. Galantino calls this “a form of social housing”: “If large private companies do so, they are welcome and take care of their staff, if the Vatican does it, we're incompetent.”

For him, it’s pointless to estimate the market value of the Vatican real estate. Galantino gives the example of the buildings in Piazza Pio XII, “If you turn them into an extra-luxury hotel it’s one thing, if you put in there the offices of the Roman Curia, as it is now, they're worth nothing.”

Picture: Nunzio Galantino, #newsYafwblluod

Tesa
Vatican real estate: 3,200 rental properties 15 % occupied free of charge 85% earn a fraction of potential Are the free ones occupied by redhat toyboys?
international.la-croix.com/…/11094
Don't worry our priest's party pads are not in default. They can still bring their sex worker friends to have fun. Keep sending money in the Peter's Pence collection idiots.

St Michael the Archangel defend us in battle