"In their "Declaration of Intention by the Founders," dated July 2, 1988, the former members of the SSPX stated their "profound regret over the illicit consecration of bishops" and also made clear their goal: to live as a religious society in the Catholic Church and to place themselves at its service, under the authority of the Pope.
This goal was made possible on July 18, 1988, when the former SSPX
members founded the Priestly Fraternity of St. Peter (FSSP), with the
strong support of the then-president of the pontifical commission
Ecclesia Dei, Cardinal Paul Mayer.
Exactly three months later, on Oct. 18, 1988, the same commission, with
the explicit approval of Blessed Pope John Paul II, established the
FSSP as a society of apostolic life. The group’s name was chosen to
express filial devotion to the successor of Peter, the rock on whom the
Church is built."
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