Orthodox Church in Cyprus Ready to Mortgage Properties to Rescue Nation

St. Napa Orthodox Cathedral in Lemesos, Cypus

Aleteia - published on 03/21/13

The offer comes after Cypriot lawmakers rejected a proposal to seize 10% of the country's private bank deposits

After lawmakers in Cypus rejected a proposal to seize 10% of the private bank deposits in the country to bailout its ailing economy, the Orthodox Archsbishop Chrysostomos II has offered his church's assets. Fox News reports:

The head of Cyprus' influential Orthodox church, Archbishop Chrysostomos II, says he will put the church's assets at the country's disposal to help pull it out of a financial crisis, after lawmakers rejected a plan to seize up to 10 percent of people's bank deposits to secure an international bailout.

[…]

The church has considerable wealth, including property, stakes in a bank and a brewery. Tuesday's rejection of the deposit tax has left the future of the country's international bailout in question.

Tags:

Economy

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