From the Agreed Statement of the Anglican/Roman Catholic Commission for Unity and Mission, 2007. The Episcopal Church is a partner in this consultation.
58. The priesthood of the ordained ministry cannot be derived from the congregation. It is a distinct vocation, and not an enhancement of the common priesthood. But the common priesthood and the ministerial priesthood are nevertheless interrelated. The minister, though not the delegate of the congregation, does act in its name and focuses thereby its offering of worship. Only bishops and episcopally ordained and authorised priests preside at the Eucharist.
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Anglican Thoughts 