* The accusations of money laundering against the Bank of Vatican a disaster for the image of the Church

Pope Benedict the 16th has announced his resignation starting with February 28th. Pope Benedict 16th says that he no longer has the "strength" needed to lead the Church due to his age (86 years). "The Pope has announced that he will abandon his office on February 28th, at 20:00. This is when the < sede vacante > (vacant seat) period will begin", spokesperson Federico Lombardi said, in an announcement which is unprecedented in the history of the Roman Catholic Church.

Pope Benedict 16th is recognized as a hot supporter of the European Union, of integrationism and globalization. The pope is also close to Herman van Rompuy, the president of the European Council. Through this resignation, the European construction seems to receive an even stronger blow, especially in these times of European crisis.

"After I reviewed my conscience before God repeatedly, I have come to the conclusion that due to my advanced age, my forces are no longer adequate to serve as a heir to Saint Peter", the Pope said in Latin, during the consistorium of the Vatican. The Pope also said that he is retiring "with full freedom" and "fully aware of the seriousness of this act". In a book/interview of 2010, the Pope spoke about the possibility of resigning if he felt unable to continue.

Speculations about the retirement have already appeared. Aside from the claims of dwindling health, there are also talks about the so-called image problems, some of them pertaining the financial irregularities at the Bank of the Vatican, presented by the international press, which are very hard to manage. About one year ago, the Institute for Religious Works, which manages the accounts of the religious orders and of the catholic associations, was investigated for dummy accounts, and the presid