This episode explores the Vatican's looming financial crisis and the challenges facing the next Pope. Against the backdrop of the Vatican's immense wealth in art and real estate, the discussion highlights the paradox of a city-state struggling with a growing budget deficit, currently around 80 million euros, and a pension fund described as a "five alarm fire." The Vatican's financial woes are rooted in historical practices like the sale of indulgences and control of the Papal States, practices that ended in the 16th and 19th centuries, respectively. More significantly, the episode details Pope Francis's attempts to modernize the Vatican's finances, including hiring an outside auditor, which faced resistance and obstruction from within the clergy. As the College of Cardinals gathers to elect a new leader, the central question is whether the next pope will continue these reforms amidst divided opinions within the church, with some prioritizing spiritual matters over earthly financial concerns. The next Pope will have to make painful choices, such as salary cuts and overhauling the Vatican Bank, to avoid kicking the can down the road.
