Cyprus Church Leader Call On Ministers To Resign, Vows To Create Jobs
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The head of Cyprus’ powerful Orthodox Church, Archbishop Chrysostomos II, vowed on Sunday to use its financial resources so that ordinary people “won’t go hungry”, whilst calling on the island’s finance minister and central bank chief to resign following the announcement of the controversial EU bailout plan.
The head of Cyprus’ powerful Orthodox Church, Archbishop Chrysostomos II, vowed on Sunday to use its financial resources so that ordinary people “won’t go hungry”, whilst calling on the island’s finance minister and central bank chief to resign following the announcement of the controversial EU bailout plan.
Chrysostomos, whose church once wielded considerable political influence in Cyprus, said that the government was to blame for taking on “unacceptable” terms from its troika of lenders; but the church would help create jobs “so that smiles can return to our people’s faces again.”
[quote]”If I was satisfied (with Cyprus leaders), I would not have called on them the other day to resign and leave, because they have the same views as the troika…. We put up no resistance (to the terms imposed by the troika) and I think this is unacceptable, ” Chrysostomos said, according to AFP.[/quote]Related: Cyprus-Troika Strike Last Minute Deal, No New Parliament Vote Required
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The Archbishop however acknowledged that Greek Cypriots also were responsible for the their current woes, claiming, “if we had spent within our means, we would not have the results we see today.”
“This misfortune that has occurred to our country seems like an economic problem but it isn’t – at its core you will find sin,” he said.
The Church of Cyprus, which is the island’s largest landowner and has interests ranging from hotels to brewing, is set to lose as much as 100 million euros ($130 million) through the bank confiscation tax. Archbishop Chrysostomos told Interior Minister Sokratis Hasikos last Monday that the church was willing to securitize some of its property and allow the money raised to be used to service the country’s debts.
Chrysostomos also insisted that church’s property belonged to the people, but was concerned that “dignity” prevented ordinary Cypriots from asking for help. According to the Associated Press, Chrysostomos has instructed parish priests to discreetly seek out those in need.
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Although Chyrsostomos did not layout any specifics on how he would help create jobs, the Church last weekend was also among the first organisations to successfully petition the government against having their equity stakes taken as part of the bailout mechanism.
As a result, all shareholders in the Bank of Cyprus will now be issued new Class D shares that had few voting rights, according to the Financial Times.
Cyprus’ unemployment rate now stands at 15 percent, but is expected to rise quickly, as it did in Greece when the EU-IMF-ECB Troika ordered pay cuts, tax hikes and slashed pensions.
