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Pope Benedict XVI talks to Ettore Gotti Tedeschi, president of the Vatican Bank, at Castel Gandolfo in September (CNS photo/L'Osservatore Romano

Benedict XVI establishes unprecedented Vatican oversight agency

Pope Benedict XVI, centre, celebrates Mass at St Massimiliano Kolbe parish on the outskirts of Rome on Sunday (AP Photo/Andrew Medichini)

Morning Catholic must-reads: 13/12/10

A daily guide to what’s happening in the Catholic Church

Ettore Gotti Tedeschi, head of the Vatican bank  (CNS photo/Remo Casilli, Reuters)

Morning Catholic must-reads: 21/10/10

A daily guide to what’s happening in the Catholic Church

Vatican bank focuses on transparency

Vatican has its own bank to ensure independence and save costs

Ettore Gotti Tedeschi, president of the Vatican Bank (CNS photo/Remo Casilli, Reuters)

The Vatican has expressed ‘bewilderment and amazement’ at the legal action, saying its operations are legitimate