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17676Orthodox Church in Cyprus offers assets to aid crisis

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  • Bill Samsonoff
    Mar 21, 2013
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      Orthodox Church in Cyprus offers assets to aid crisis
      Last updated Thu 21 Mar 2013

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

      Speaking after meeting president Nicos Anastasiades today, Archbishop
      Chrysostomos II said the church was willing to mortgage its assets to
      invest in government bonds.

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