In an exclusive interview with the Boston Globe, the Australian cardinal outlined his plans to get the Vatican "off the gossip pages" through modern accounting standards, strengthened transparency and downsizing.
Cardinal Pell told the Boston Globe he was confident about the extensive reforms, which include the establishment of a Vatican Asset Management office and the appointment of an independent auditor.
He said there had been some “antagonism” in response to the proposals, though the overall response was encouraging.
"We need to get leaders into the new positions that have been created, and we have to persuade the many good people in the Vatican to cooperate," he said.
"…Most of the people in the Vatican are thoroughly good and they realize that in many ways the old world couldn’t go on."
The reforms will see the restructure of the Vatican Bank, which is set to play a smaller role in the church’s finances in the wake of previous scandals.
There are also plans to expand digital communication, including the use of the Pope’s Twitter account, as well as review the Vatican’s pension fund.
Cardinal Pell emphasised the dramatic nature of the reforms, the likes of which have never been said before.
"Nobody in living memory has seen anything like this before," he said.
"What’s so new are the structural reforms. We’ve now got different focuses of authority and checks and balances."
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