Banco ambrosiano - Gods banker

Rupert Cornwell

The Life and Death of

ROBERTO CALVI

COUNTERPOINT

London UNWIN PAPERBACKS

Boston Sydney

First published in Great Britain by Victor Gollancz Ltd 1983

First published in Unwin Paperbacks 1984

This book is copyright under the Berne Convention. No reproduction without permission. All rights reserved.

UNWIN PAPERBACKS 40 Museum Street, London WC1A 1LU, UK

Unwin Paperbacks Park Lane, Hemel Hempstead, Herts HP2 4TE, UK

George Allen & Unwin Australia Pty Ltd., 8 Napier Street, North Sydney, NSW 2060, Australia

Rupert Cornwell 1983,1984

Condition of Sale. This book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, re-sold, hired out or otherwise circulated, without the Publishers' prior consent in any form of binding or cover other than that in which it is published and without a similar condition including this condition being imposed on the purchaser.

To Angela

isbn 0 04 332099 6

Printed in Great Britain by Guernsey Press Co. Ltd, Guernsey, Channel Islands

ACKNOWLEDGEMENTS

This book is drawn from three main sources: my own experiences and recollections as correspondent of the Financial Times in Italy, during the events described in the last two thirds of it; the work of colleagues in the Italian and foreign pressan irreplaceable support for the journalist everywhere; and direct interviews with and documentary assistance from many of those involved with the story of Roberto Calvi and Banco Ambrosiano. Numerous people have given their time to help with the book's preparation. I am deeply grateful to all of them, especially those who would have preferred not to discuss a subject they would best like to forget. Many of them too have specifically asked not to be mentioned; and obviously I must respect their confidence. For that reason I will mention none of them, as a partial list of thanks might only be misleading.

Those to whom I can express gratitude include my paper for allowing me to take a sabbatical at the ideal moment, as well as friends on its staff who gave hospitality and help. They include Duncan Campbell-Smith in London, Reggie Dale in Washington, Paul Betts in New York and Nikki Kelly in the Bahamas. In Italy, I would take the opportunity of acknowledging my debt to the excellent book already published on the Ambrosiano affair, II Banco Paga , by Leo Sisti and Gianfranco Modolo. Some of the other published works from which I have drawn are referred to in footnotes. Then I must thank Professor Luigi Spaventa, who kindly read the manuscript and made valuable suggestions and caught potentially embarrassing mistakes. Similar thanks, for similar reasons, go to Mary Venturini, my colleague in Rome, James Buxton, and to George Armstrong. A special affectionate word must be kept for Nicoletta Rosati, our secretary in the Financial Times Office in Rome. She not only typed out two thirds of the

manuscript, but also produced some precious and, she will not mind

my saying, very Roman insights into an uncommonly complicated tale.

This book is an effort to provide a reconstruction that is at least understandable. Inevitably however, I will have made errors. I apologize for them in advance, offering in my defence only the observation that the book has been written in good faithnot the most conspicuous quality in the Calvi story.

Finally a brief note about the currencies referred to throughout the book. To avoid unmanageable strings of noughts, I have used the American billion in preference to thousands of millions, where the Italian lira is concerned. Between 1970 and 1982, the value of the pound varied between a low of around 1,400 lire and a peak of about 2,400 lire. The simplest, if rather rough, average conversion rate would perhaps be 2,000 lire. The lira/dollar rate has risen even more sharply. Between 1970 and 1975 the dollar stayed within the range of 580 to 680 lire. In 1976 it jumped at one stage to 900 lire. Over the next three years the rate declined to 780 lire. But from 1980, the dollar began an ascent which was showing no sign of abating during the time of writing. By early June 1983, it had passed the 1,500 lire mark.

Rupert Cornwell

CONTENTS

Some of the Cast 14

Introduction 19

The Beginning 27

Sindona 36

Freemasonry 44

Vatican 51

Empire Building 59

Rizzoli 74

Revenge 80

Inspection 86

The Bank of Italy Affair 98

New Ploys 108

Messages from Licia 118

Corriere 129

Prison and Trial 138

Letters of Patronage 146

The Man from Olivetti 155

The Last Illusions 163

Carboni and Flight 174

Week of Fire 185

Death in London 193

Clearing up the Mess 206

Aftermath 217

Vatican Disarray 225

The Vatican and the Money 231

Epilogue 238

Conclusions Appendix Index

Some of The Cast

Andreatta, Beniamino : Born 1928. Professor of Economy at Bologna University. Since 1976 a senator for the Christian Democrat party. Named Budget Minister August 1979. Between October 1980 and November 1982 Minister of the Treasury. He ordered the liquidation of Banco Ambrosiano.