And the financial world is watching.

ROME—An international network of financial watchdogs has suspended the Vatican’s access to its information, dealing a major blow to the Vatican’s financial credibility under Pope Francis.

Out you go, we can’t trust you:

The Egmont Group, a Toronto-based network of more than 160 national financial intelligence units around the world, has decided to suspend the Vatican watchdog from access to its secure web system, through which members share information about money laundering, financing of terrorism, tax fraud and other financial crimes, according to people familiar with the matter.

The Vatican  declined to comment. The holy munchkins are too busy preparing the next papal tirade against capitalism.

Ridiculous.

via Vatican Loses Access to International Financial Watchdog Information – WSJ

More alarming details:

News of the Egmont suspension came the day after the Vatican unexpectedly announced that Pope Francis was replacing his top financial regulator, AIF [Vatican’s Financial Information Authority] President René Brülhart, prompting a member of the regulator’s board to resign in protest.

Marc Odendall, a French German banker, resigned on Monday from the board of AIF, saying that the pope’s decision to dismiss Mr. Brülhart showed that the Vatican didn’t intend to address Egmont’s concerns.

“There is no point in staying on the board of an ineffective organization,” Mr. Odendall said.

Etc. etc. Hard reading.