Weak US dollar hits papal profits


	Weak US dollar hits papal profits

tabsey

7-12-2008 8:36 AM

140 views

tags:

the, king, is, in, his, counting, house

tabsey says:

Maybe we should whip the hat around. I'm fair dinkum about this. We wouldn't want the bludgers to know what it is like to be poor.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/64a9236f-1d4d-48cd-aed4-89490503f4aa/47115D42-AB9D-479E-B251-7CCDEE1E7D67/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.bbc.co.uk/2/hi/business/7501486.stm" href="http://news.bbc.co.uk/2/hi/business/7501486.stm" style="font-size: 11px;">news.bbc.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/news.bbc.co.uk/img/DF0ACA34-944C-4203-B695-9C3AA25DAD2D" alt="Pope Bendict XVI" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><DIV class="cap">The Vatican received almost $80m worth of offerings in 2007</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><P class="first"><B>The Vatican made a loss last year as the weaker dollar reduced the value of donations from the faithful in the United States. </B>
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><P>Almost a quarter of the $79.8m (£40.4m) worth of offerings it received came from collections made in US churches. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><P>But as the dollar lost 15% of its value against the euro, the Catholic Church's governing body made a loss of 9.1m euros (£7.3m: $14.3m) in 2007. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><P>That was despite receiving a single anonymous donation of $14.3m. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><P>In a statement it said that it had been affected "primarily to the sudden and noticeable inversion of the previous trends in exchange rates, most noticeably the US dollar". 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><P>Its latest accounts show that the Vatican made 236.7m euros in 2007 compared with outgoings of 245.8m euros. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7501486.stm"><table background="undefined" bgcolor=""><tr><TD class="sibtbg"><DIV class="sih">
			                            CHURCH OFFERINGS TO VATICAN
			                        </DIV>
<DIV class="mva"><DIV class="bull">United States: $18.7m</DIV>
<DIV class="bull">Italy: $8.6m</DIV>
<DIV class="bull">Germany $4m</DIV>
<DIV class="bull">Spain: $2.7m</DIV>
<DIV class="bull">France: $2.4m</DIV>
<DIV class="bull">Ireland: $2.2m</DIV>
<DIV class="bull">Brazil: $1.4m</DIV>
<DIV class="bull">South Korea: $1.1m</DIV>
<DIV class="bull"><I>Source: Vatican</I></DIV>
</DIV>
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