Word: italianize
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Dates: during 1980-1989
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...permanent residents of Vatican City, and a small group of clergymen and laymen who have regular business dealings with the Vatican. No others need apply. The bank's assets are thought to be modest by international standards. For that reason, the scandal is especially threatening to the I.O.R.: Italian authorities say the bank may be liable for much of the millions the Banco Ambrosiano Group owed to international banks...
...scandal has also brought a wave of unwelcome attention to the Vatican bank's American-born president, Archbishop Paul Marcinkus. So far no one has openly accused Marcinkus of any illegal acts. But he is one of three Vatican officials under investigation by Italian authorities, who have indicated that Marcinkus could ultimately be charged. Serious questions are also being raised about his judgment and competence, specifically about his willingness to let the Vatican bank and its good name be used by international wheeler-dealers. At least eleven other official inquiries into Banco Ambrosiano's affairs are under...
...Italian authorities have since ordered the liquidation of Banco Ambrosiano and declared the institution bankrupt. The government has also been pressing the Holy See for a fuller disclosure of its role in the bank's affairs, thus rekindling the age-old tension between Italy and the Vatican, an independent entity that occupies 108.7 acres in the center of Rome. The Bank of Italy, the nation's central bank, has agreed to cover only part of Banco Ambrosiano Group's $1.2 billion shortfall, and is suggesting that the I.O.R. may have to come up with at least some...
...Craxi miscalculated. Interrupting his vacation in the Dolomites, Italian President Sandro Pertini, 85, rushed to Rome and asked Spadolini to form a new government. A lifelong Socialist, Pertini then reportedly reminded Craxi that in Italian politics the party that precipitates early elections usually suffers the most at the ballot box. Ultimately, Craxi appears to have been influenced by an equally persuasive fear: that the Communists would abstain in key parliamentary votes, allowing a minority government without the Socialists to stay in power...
...rites that marked his installation as archbishop. Already one of U.S. Roman Catholicism's handful of most important leaders, Bernardin (pronounced Burr-nuh-deen) is taking charge of the nation's largest archdiocese. In time he will be named a Cardinal, the first in the U.S. of Italian descent...