Church of Cyprus mulls pay cuts amid drop in earnings

* Priests' salaries "safe" says Bishop

The Holy Synod, the supreme council of the Church of Cyprus, is expected to convene next month to discuss the Greek Orthodox church’s finances and pay cuts.
However, the low-income priests will not be affected, while senior clergy have already seen a pay-freeze or even cuts of up to 10%, Bishop Isaias of Tamasos said on Tuesday.
Archbishop Chrysostomos II said that senior clergy and staff earning over 2,000 euros a month are in for salary cuts due to the ongoing financial crisis that has seen church revenue dwindle.
"Church income…has dropped and this matter must be dealt with at its root because it won't pass any time soon," Chrysostomos told state broadcaster CyBC.
Although the church is the biggest landowner after the government and hold stakes in many businesses, its revenue has suffered as the country grapples with a cash crunch and dividends in investments, such as bank stocks, have dwindled.