Church Offers Property To Help Raise Funds For Debt

  • by XpatAthens
  • Wednesday, 15 April 2015
Church Offers Property To Help Raise Funds For Debt
The head of Greece's Orthodox Church said on Saturday it was willing to put property it owns up for development to help raise money to repay the country's debt.

The Orthodox Church is a powerful institution in Greece and owns more land than anyone except the state, including prime real estate in Athens.

"Come, let's develop (the property) for Greece," Archbishop Ieronymos of Athens told Greek TV in an interview during the Greek Orthodox Easter holiday. "If needed by the state to cooperate, we're here."

Asked if the Church would consider selling off property, he said: "No, I would say let's work together and (the state can) use the revenues to repay all its debts ... but the plots of land will remain Greek, in Greek hands."

He did not say what kinds of business developments he had in mind.

It is unclear how much property the Church owns as its structure is decentralized and Greece has no central land registry.

To read more please visit: Reuters