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Thursday, April 18, 2013

The new pope is cheap.

Pope Francis, who is known to be frugal, has decided that Vatican employees won't be getting the new pope bonus that traditionally comes with the election of a new pope.
In the past, the Vatican's 4,500-plus workers — both religious and lay — would receive an extra little something upon the death of one pope and another upon the election of his successor: In 2005, the total reportedly came to 1,500 euros (nearly $2,000) apiece.
Vatican spokesman the Rev. Federico Lombardi said that given tough economic times — the Vatican posted a 15 million-euro deficit in 2011 — "it didn't seem possible or appropriate to burden the Vatican's budget with a considerable, unforeseen extra expense."
However, given that  bankers' best guesses about the Vatican's wealth put it at $10 billion to $15 billion, it seems rather silly for the Vatican to stop providing this bonus. Afterall, it is hardly a common expense. New popes hardly are an annual event. 

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