Cyprian Archbishop Calls On Central Bank’s Head, Finance Minister To Resign

admin | 01 April 2013

March 31, 2013

Cyprus has been a member state of the European Union since 2004

The head of Cyprus’s Orthodox Christian Church Archbishop Chrysostom II has called on the Chairman of the country’s Central Bank Panikos Dimitriadis and Finance Minister Mihailis Sarris to resign.

The archbishop accuses them of agreeing to the tough measures aimed at stabilizing the Cyprian economy which the EU and the IMF are imposing upon Cyprus.

On Saturday, it was announced that people who have accounts for the value of more than € 100,000 in the Bank of Cyprus will get stocks in exchange for 37.5% of their accounts. 22% will probably also be converted into stocks. The remaining 40% will be temporarily “frozen”.

Cyprus’s president sees way out of crisis Cyprus’s President Nicos Anastasiades has called the meeting of the European Group on March 16, where the decision to write off a part of Cyrus’s deposits was taken, “dramatic”. “I sat at this meeting and I felt like standing up and leaving,” Mr. Anastasiades said in an interview with the Cyprian newspaper Phileleftheros. “However, at present, the situation in Cyprus is under control. We are planning to implement a package of measures for normalizing the country’s economy within 3 to 6 months.”

The President is sure that this package of measures, which includes 12 points, will help to stabilize the country’s economy and even make it speedily develop. In particular, the package includes attracting foreign investments and measures of help to the most economically vulnerable groups of population.

Mr. Anastasiades says that Cyprus will not reject from the euro. Cyprian MP calls for economic independence from EU Cyprus has no other way out of the crisis than to free itself from the conditions that the “three” of its creditors are imposing upon it, the head of Cyprus’s parliament Yiannakis Omirou believes.

On Saturday, Cyprus’s Central Bank announced about a package of measures for reorganization of the country’s leading credit organizations. This may cause holders of bank accounts – both individuals and business companies – lose up to 60% of their assets.

The country’s second largest People’s Bank may close. For Cyprus, this may mean a sharp increase of recession, increase of unemployment and impoverishment of the population, Mr. Omirou believes. He says that Cyprus may have a prosperous economy only if it ceases to be a part of the pan-European economic mechanism.

Source: EurasiaReview (from Voice of Russia)

Система Orphus Do you see a mistake in the text? Highlight it and click: Ctrl + Enter
Since you are here…

…we do have a small request. More and more people visit Orthodoxy and the World website. However, resources for editorial are scarce. In comparison to some mass media, we do not make paid subscription. It is our deepest belief that preaching Christ for money is wrong.

Having said that, Pravmir provides daily articles from an autonomous news service, weekly wall newspaper for churches, lectorium, photos, videos, hosting and servers. Editors and translators work together towards one goal: to make our four websites possible -,, and Therefore our request for help is understandable.

For example, 5 dollars a month is it a lot or little? A cup of coffee? It is not that much for a family budget, but it is a significant amount for Pravmir.

If everyone reading Pravmir could donate 5 dollars a month, they would contribute greatly to our ability to spread the word of Christ, Orthodoxy, life's purpose, family and society.

Choose currency:
Other amount
Related articles
Communiqué of the Holy Eparchial Synod,…

April 22, 2013 The Holy Eparchial Synod of the Greek Orthodox Archdiocese of America convened for…

Serbian Church criticizes Brussels agreement

April 22, 2013 The Serbian Orthodox Church (SPC) has issued a statement regarding the agreement proposal…

More Children in Greece Are Going…

April 17, 2013 As an elementary school principal, Leonidas Nikas is used to seeing children play,…

Dear Friends,

Our website exists owing to your generous assistance, thanks to the funds donated by our beloved readers.

Please assist us in the continuation of our work.