I'm sorry, what did Benedict say?  Space is greater than time?

Actually, in the physical world both are related to matter as well.  Einstein's famous equation is the relationship.  Distance, mass, energy and time are all connected.  

Eternity is something else.  But if God is real and outside creation, there is presumably something in "papal physics".    What the pope is really driving at the old "ear hath not seen, nor eye heard" what God has in store for those who love Him.