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responsibilities." Bank of Italy inspectors have been received in the Vatican.
Would the Italian magistrates be able to bring to trial an American Archbishop living in a foreign state (the Vatican?). They have notified Marcinkus and two other Vatican Bank employees of an inquiry under way which may lead to criminal charges but the Vatican rejected the notification saying it must be sent through diplomatic channels.
However, the affair does not concern simply Marcinkus but the credibility of the Vatican Bank as a financial institution. Chase Manhattan and other American banks have agreed to throw a credit line to the Vatican with the proviso it collaborates with the Bank of Italy.
The Vatican should have a clearer idea of it ituation when the three wise men (American, Swiss and Italian bankers who have to report to the Secretary of State, Cardinal Agostino Casaroli) have completed their investigation. This is expected to be by mid-September.
Even if they clear Marcinkus of the alleged fraud, the Calvi link will he hard indeed to shake off.