Archbishop of Cyprus Chrysostomos has said that the assets of the Orthodox Church of Cyprus is at the disposal of the state and can be used to save the economy of Cyprus and the banking system.

In statements after a meeting he had on Wednesday with Cyprus President Nicos Anastasiades, the Archbishop also reiterated his recommendation for the issuing of a national bond.

The Archbishop said that government must issue such a bond, underlining that he made it clear to the President that the Church will support such an effort.

He also noted that he assured the President that “all the property of the Church is at the disposal of the country to support its people, so that the banking system does not collapse and we will be able to stand on our own feet.”

Asked how the Church can help the state, the Archbishop referred to the possibility of using the property of the Church as collateral.

He noted that the amount of property (real estate) owned by the church was immense and expressed the belief and certainty that the people will support the state.

The Archbishop of Cyprus congratulated Cyprus deputies for their decision on Tuesday to reject a draft bill on Cyprus` bailout agreement that provided for an unprecedented levy to be imposed on savings in Cyprus banks (haircut), noting that they sent a powerful message to Europe to respect small countries as well.