Letters sent by three parishes of the Greek Orthodox Archdiocese of America regarding the GOA’s financial crisis (click on each one to view in PDF format):
Browsing: Financial crisis
Source: CBS News [NICOSIA, CYPRUS] 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. Speaking after meeting President Nicos Anastasiades Wednesday, Chrysostomos 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. Tuesday’s rejection of the deposit tax has left the…
EUROKINISSI The leader of Cyprus' Orthodox Christian Church said Tuesday that senior clergy and staff earning over €2,000 ($2,460) a month are in for salary cuts as the island nation's ongoing financial crisis has seen church revenue dwindle.
Source: The National Herald NICOSIA, Cyprus (AP) — The leader of Cyprus’ Orthodox Christian Church said Tuesday that senior clergy and staff earning over €2,000 ($2,460) a month are in for salary cuts as the island nation’s ongoing financial crisis has seen church revenue dwindle. Archbishop Chrysostomos II said the church’s top decision-making body, the Holy Synod, will convene early next month to enact the cuts. He said his own salary as well as that of bishops and other high-income church employees will be the first to be cut in order to “set the good example.” “Church income…has dropped and…