Cardinal Pell (L), Jean-Baptiste de Franssu (C) and outgoing bank head Ernst von Freyberg
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Vatican overhauls scandal-hit bank

9 July 2014 Last updated at 23:29 BST

Extensive reforms of the scandal-hit Vatican bank have been announced with the entire senior management team being replaced.

Pope Francis has sought to stamp out corruption and other abuses at the bank, which handles the Church's funds.

The bank will also eventually give up its investment activities to focus on serving religious orders and charities.

Alan Johnston reports from the Vatican