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Vatican Bank chief Tedeschi dismissed

Vatican Bank chief Tedeschi dismissed

25 May 2012 08:11 (UTC +04:00)

Baku - APA-Economics. The director of the Vatican Bank, Ettore Gotti Tedeschi, has been removed from his post for dereliction of duty, the Vatican says, APA reports citing BBC.

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."

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