Francis’ move essentially undid a decree issued last year by his predecessor, Pope Benedict XVI, who confirmed the Vatican Bank’s supervisory body for another five years, just days before announcing his retirement. The most high-profile figure sacked on Wednesday was Cardinal Tarcisio Bertone, Benedict’s secretary of state and the face of administrative woes of Benedict’s papacy.

This is a big deal. Firings are not the norm at the bank, they have gone their own way for ages with the occasional individual ousted rather than only one individual kept