24/01/2007 14:35
Archbishop Chrysostomos revealed on Wednesday that the Church will increase its stake in the Cypriot banks in 2008 in an attempt to protect them from acquisitions by foreign banks. According to the Archbishop, the Church has advised the banks to refrain from activities with foreign banks. “Our country is still struggling. In 1974 after the invasion, only the Cypriot banks helped the citizens”, he said.
The Archbishop also advised the banks not to be misled by the high prices of their shares. “We will invest during the year so as to make them feel secure”, he concluded.
The Archbishop also advised the banks not to be misled by the high prices of their shares. “We will invest during the year so as to make them feel secure”, he concluded.
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