Cyprus Update: The EU Took €100 Million from the Greek Orthodox Church


by John Galt
March 26, 2013 20:45 ET


If anyone is under the delusion that the seizure of individual and business accounts from the banks of collapsed nation is where the evil and corruption will stop, here’s a shock for the readers courtesy of the Cyprus Mail:

Church says it will lose €100m

This so-called “bail-in” designed only to protect the hedge funds of the European and British money center banks scalped the one entity which could help the poor during the nations transition from quasi-capitalism to European serf state. From the article in today’s paper:

The Church stands to lose more than 100 million euros in the bailout deal reached with international creditors early Monday, its leader Archbishop Chrysostomos said.

“The capital owned by the Church, which was over 100 million euros, has been lost,” the archbishop told reporters.

“There will be many difficulties, some will lose their jobs, the hungry will be multiplied and the Church has to take care of people,” he added.

Granted, I’m sure they won’t suffer at the top of the church as in the old Vatican tradition, the Greek Orthodox Church has been known to enjoy ornate lifestyles and investments which per the article range from breweries (yes,  that’s correct) to hotels and resorts. The bigger picture is that the European Union using the power of the ECB and IMF combined has now found a formula not just to create vassal states, but to seize the assets of the Church, something the atheistic Marxists which created the Eurozone have fantasized about for over a decade. This action should make the Vatican extremely nervous about their massive Italian and Spanish property holdings in those nations.

When this program is translated into an American version, look for only those “Federally approved” institutions to be exempt from property and capital seizure. Three is no better formula to force a religious institution to pay taxes and force compliance with the political elite’s prevailing point of view to extinguish the concept of freedom of expression.

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