Today in Chapter we heard a funny story about Pope Pius VI and the Archbishop of Canterbury, Michael Ramsey. The two of them celebrated an ecumenical liturgy in St. Paul Without the Walls, in Rome. They signed a common declaration affirming their desire for unity. But then, the Pope took the Archbishop aside and asked him to take off his ring. He didn't want to, but then did. The Pope slipped his own ring on his finger. The ring the Pope had worn when he was Archbishop of Milan. Archbishop Ramsey burst into tears and wore the ring for the rest of his life.
The point of the gesture is an expression of hope for the future.
But I note that the Pope didn't give Archbishop Ramsey his papal signet ring. He gave him his Archbishop's ring: Archbishop to Archbishop. That is significant.