Vatican denies risk of default over structural deficit

Vatican City • A top Vatican administrator is denying the Holy See risks default over its structural deficit, saying assertions in a new book about possible financial ruin are overblown.Archbishop Nunzio Galantino, president of the office that manages the Vatican’s real estate and other assets, told the Avvenire newspaper of the Italian bishops’ conference Tuesday all that is needed is a “spending review” to bring down costs.Galantino was responding to claims in a ne