Orthodox church in Cyprus will mortgage assets to help bail out country

March 20, 2013

The head of the Orthodox Church of Cyprus has announced that the church will mortgage its assets and invest in bonds in an effort to pave the way for an international bailout of the financially-troubled nation.

Archbishop Chrysostomos II’s announcement followed a decision by the nation’s legislature not to confiscate bank deposits.

 

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Further information:

• Cyprus archbishop says will put church assets at country's disposal to help emerge from crisis (AP)
• The Orthodox Church of Cyprus (CNEWA)