Mr Tedeschi is under investigation for suspected money-laundering
The director of the Vatican Bank, Ettore Gotti Tedeschi, has been removed from his post for dereliction of duty, the Vatican says.
Vatican Bank chief Tedeschi dismissed
The bank's board of directors unanimously passed a no-confidence vote in Mr Gotti Tedeschi, a statement said.
It said he had failed "to carry out duties of primary importance", but it did not elaborate.
In 2010 Italian police launched an investigation against Mr Gotti Tedeschi as part of a money-laundering inquiry.
Members of the board believed Mr Gotti Tedeschi's dismissal was needed to "maintain the vitality of the bank", the Vatican statement said.
The board will now look for a new director to restore relations with the international financial community, "based on mutual respect for accepted international banking standards".
Mr Gotti Tedeschi declined to comment on his dismissal. He told journalists: "I'd rather say nothing, otherwise I'd say ugly things."
Transparency
But in remarks to the Reuters news agency, he said: "I have paid for my transparency."
The moves comes as Moneyval, the Council of Europe body tasked with counteracting money laundering, prepares to rule at the beginning of July on whether the Vatican meets international standards on financial transactions.
Memos leaked earlier this year suggest there are serious differences among Vatican officials over how far to go in ensuring financial transparency, according to media reports.
The Vatican Bank, known officially as the Institute for Religious Works (IOR), was created during World War II to administer accounts held by religious orders, cardinals, bishops and priests.
It lost £250m in a scandal involving the collapse of one of Italy's biggest private banks - the Banco Ambrosiano - in 1982, with which it had close ties.
The Vatican Bank has been headed by Mr Gotti Tedeschi, 62, a trained economist, since 2009.
When Mr Gotti Tedeschi was placed under investigation in 2010, the Vatican said it was "perplexed and astonished", and expressed full confidence in Mr Tedeschi.
It said the matter was the result of a misunderstanding, and that none of its employees were involved in any wrongdoing.
As part of the inquiry, Italian tax police seized 23m euros ($29m, £18.4m) that the Vatican Bank had tried to transfer from a small Italian bank called Credito Artigiano.
A month later, the Vatican set up a new financial authority to combat money laundering and make its financial operations more transparent, ahead of an EU deadline.
The move was aimed at winning inclusion in the European Commission's "white list" of states which comply with international standards against tax fraud and money-laundering.
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Today is
Fool Used
In all organizations, in all governments, and even in all religious beliefs, when ever there comes a time where the inner workings is under legal scrutiny that would expose the inner workings of a entity, a sacrifice must be made.
The Sacrifice is that of an individual who, unknowingly, is the one that the totality of the blame will be directed.
The Scapegoat is a term used for individuals who are the subject of huge scandals associated with a huge entity, whom bare the brunt of the blame in order to protect the system or the upper ranked individuals in the organization, system or government, to be subjected to the law.
The Bush Administration's Scapegoat, Lewis Libby Jr., Vice President Dick Cheney's chief of staff, served as the person that was the central tool of focus, used to distract the true wrongs of outing an active "CIA Agent"... Plume.
The Significance of providing a Scapegoat during the Bush Admin was to keep the wheels rolling regarding the Bush Admin's intentions of attacking Iraq. Mrs. Plume's husband provided the Bush Admin with a report that Iraq had no WMD's, which subsequently ended up being the case, but, his report had to be tainted first.
The Vatican's Scapegoat, with respect to their allegations of "Money Laundering", is Gotti Tedeschi, and its his skin that will be sacrificed for the good of the Catholic Leadership.
The Reality for the Scapegoat is that, the Scapegoat will often times, not know that they are the Scapegoat. Once a Scapegoat realizes that he is the Scapegoat, he is appeased by promises of monetary compensations for his degradation of his character and reputation.
Loyalty is a heavily used word by the top ranking people who convinces the Scapegoat to allow himself to be the victim that will receive by the same individuals who ask the Scapegoat to remain silenced.
No Human Being that demands dignity ought to allow themselves to be the Scapegoat, and, specifically, within the inner workings of the Vatican, it's shameful of the Vatican to fire Mr. Tedeschi in order to fool the people that believe in their leadership around the world.
The Scapegoat ought not be representation of the sole responsibility of negligence or illegal acts by any entity.
No Human Being should ever consider biting the bullet by accepting the label of the wrong doings by the entire body of a system.
Although Mr. Gotti Tedeschi is in a system of loyalty to the catholic religion, he ought not be the one that represent the flaw in its financial functionality.
Mr. Gottie's sacrifice will, unfortunately, ensure that the inner workings of the Vatican, maintains its secrecy, thereby, allowing the humans running the Vatican to get away with breaking the law.
In My Opinion
ASMFMB
5/24/2012
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