Cardinal Velasio De Paolis with Pope Benedict XVI.

Rome, September 21, 2011. According to the Holy See’s press office, Pope Benedict XVI has accepted Cardinal Velasio De Paolis’ resignation from his responsibility as President of the Prefecture for the Economic Affairs of the Holy See. However, the cardinal will continue serving as papal delegate for the Legionaries of Christ and the Regnum Christi Movement.

Cardinal De Paolis had submitted his resignation from the Prefecture in 2010 for reasons of age (he is 75) in keeping with Canon Law. Archbishop Giuseppe Versaldi will take over as the new President of the Prefecture for the Economic Affairs of the Holy See.