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Bishop of Bling: So why is Germany's Roman Catholic Church so wealthy?
Pope Francis II's decision to suspend Germany's Bishop Franz-Peter Tebartz-van Elst has brought worldwide attention to the bishop's lavish spending. But it's also drawn attention to the special relationship that the Roman Catholic Church has with the German state. Some observers say the fact the church is partially subsidized by Germany's taxpayers, giving it an estimate net wealth of $100 billion, is the underlying reason for Bishop Tebartz-van Elst's opulent lifestyle.Here's a closer look at why Germany's Catholic Church is one of the wealthiest branches in the world:
Pope Francis II's decision to suspend Germany's Bishop Franz-Peter Tebartz-van Elst has brought worldwide attention to the bishop's lavish spending. But it's also drawn attention to the special relationship that the Roman Catholic Church has with the German state. Some observers say the fact the church is partially subsidized by Germany's taxpayers, giving it an estimate net wealth of $100 billion, is the underlying reason for Bishop Tebartz-van Elst's opulent lifestyle.
3. Shielded from oversight
Germany's constitution protects religious institutions from state oversight, stipulating that they "shall regulate and administer their affairs independently within the limits of the law that applies to all." This freedom and opacity has lead to many scandals over the years, none of which, however, have resulted in a bishop's suspension until now.
In 2010 Der Speigel investigated why church funds were protected from the government austerity measures that had slashed social programs, and found the money nearly impossible to track:
"The assets, accumulated over the centuries, are invested in real estate, banks, academies, breweries, vineyards, media companies and hospitals. The church also derives income from stock holdings, foundations and bequests. The revenue money flows into a budget that only a bishop and his closest associates are familiar... (and) which tax authorities are not required to review."
Of Germany's 27 dioceses, 25 refused to disclose their finances to Der Spiegel. Since the news of Bishop Franz-Peter Tebartz-van Elst's suspension broke, however, Frankfurter Allgemeine reported that about half of those dioceses have decided to make their assets public. "The Archbishop has always made it clear that the church is there for the people and responsible with its financial resources, which must be dealt with humbly and transparently," the Archdiocese of Hamburg said in a statement.
http://news.yahoo.com/bishop-bling-w...203924848.html
http://www.forbes.com/sites/kellyphi...me-renovation/
.
Bishop of Bling: So why is Germany's Roman Catholic Church so wealthy?
Pope Francis II's decision to suspend Germany's Bishop Franz-Peter Tebartz-van Elst has brought worldwide attention to the bishop's lavish spending. But it's also drawn attention to the special relationship that the Roman Catholic Church has with the German state. Some observers say the fact the church is partially subsidized by Germany's taxpayers, giving it an estimate net wealth of $100 billion, is the underlying reason for Bishop Tebartz-van Elst's opulent lifestyle.Here's a closer look at why Germany's Catholic Church is one of the wealthiest branches in the world:
Pope Francis II's decision to suspend Germany's Bishop Franz-Peter Tebartz-van Elst has brought worldwide attention to the bishop's lavish spending. But it's also drawn attention to the special relationship that the Roman Catholic Church has with the German state. Some observers say the fact the church is partially subsidized by Germany's taxpayers, giving it an estimate net wealth of $100 billion, is the underlying reason for Bishop Tebartz-van Elst's opulent lifestyle.
3. Shielded from oversight
Germany's constitution protects religious institutions from state oversight, stipulating that they "shall regulate and administer their affairs independently within the limits of the law that applies to all." This freedom and opacity has lead to many scandals over the years, none of which, however, have resulted in a bishop's suspension until now.
In 2010 Der Speigel investigated why church funds were protected from the government austerity measures that had slashed social programs, and found the money nearly impossible to track:
"The assets, accumulated over the centuries, are invested in real estate, banks, academies, breweries, vineyards, media companies and hospitals. The church also derives income from stock holdings, foundations and bequests. The revenue money flows into a budget that only a bishop and his closest associates are familiar... (and) which tax authorities are not required to review."
Of Germany's 27 dioceses, 25 refused to disclose their finances to Der Spiegel. Since the news of Bishop Franz-Peter Tebartz-van Elst's suspension broke, however, Frankfurter Allgemeine reported that about half of those dioceses have decided to make their assets public. "The Archbishop has always made it clear that the church is there for the people and responsible with its financial resources, which must be dealt with humbly and transparently," the Archdiocese of Hamburg said in a statement.
http://news.yahoo.com/bishop-bling-w...203924848.html
http://www.forbes.com/sites/kellyphi...me-renovation/
.