”THE CHURCH SHOULD 400 ECAT. EURO” An initiative with multiple recipients but also with catalytic effects not only on the economic but also on the political "map" is underway with the Church of Greece as the protagonist.
The proposal that is in the "hands" of the Archbishop but also of all the members of the Permanent Holy Synod for the coverage of 50% of the increase in the share capital of the National Bank not only makes the church one of the largest shareholders of the country's leading banking group but - also the main- brings her back…….
in the central political scene of the country at a time when the "credibility deficit" of the political parties is at its nadir.
The Metropolitan of Syros took the initiative to propose the participation of the Church in the increase of the share capital of a bank in order to avoid, according to romfea.gr, “the threatened de-Hellenization of the first credit institution of modern Greece”.
The proposal of the Metropolitan Mr. Dorotheou is as follows:
"In the economy of today's Fatherland, other’ and finally of Cyprus, life unfolding, with the well-known painful effects on the individual lives of Greeks and social cohesion, understandably, everyone is concerned and deeply concerned, you don't care, in fact, in the immediate future of the looming exit of the multiple and multi-level crisis that is constantly worsening.
Of things and situations as they were, we think that perhaps the time has come for a great response to the wintering Generation of responsibility of the Church and of us who make up the Seventh Body of the Hierarchy. At least this member, with deep respect we hereby submit a thought which, beyond the truly titanic charity work, which in the Holy Archdiocese of Athens and apasha of the Holy Metropolis is performed, which, It might be a groundbreaking initiative, which will demonstrate the Church's timeless Nationalistic and pro-People sacrificial role.
Recent developments in the banking sector and the issue of the recapitalization of Greek banks, cancellation of the agreement for the merger of the National Bank of Greece after Eurobank, they create new data and new challenges for the Church.
We are informed, the National Bank, one of its largest shareholders is the Church of Greece, as possessor 15.000.000 share it, is called upon to recapitalize itself, due to the expansion of its shareholders ten to one hundred (10%) of the total funds required.
According to our gathered information, will be required 9,7 two Euros for its recapitalization. Of these, the two (2) both will come from convertible bonds (the so-called COCO's by experts), the remaining four 7,7 they will have to be sought either by private investors, with a preferential right from the existing ones, or from covering ten to one hundred (10%) of this amount at least from private funds. In conclusion, The National Bank of Greece is looking for this moment 770 millions of Euros, in order not to be nationalized.
The requested, of course, it is not the nationalization of the National Bank, for whom, under different circumstances, no one would object, other’ the threatened de-Hellenization of the first Credit Institution of modern Greece, through today's humiliating share prices, and the resulting oppression of its existing shareholders, including the Church of Greece.
By the present, hence, we submit it to you in agony, wondering, if as shareholders, but also as a shepherding Church, we remain indifferent and apathetic to the attempted demonization of the largest Bank of our Country and the destruction of our property invested in it! Considering that we are faced with historical responsibilities towards our predecessors and successors, we deeply submit to Me today's thoughts and proposals, as an occasion for deeper study and broader discussion. Especially, we consider the participation of the Church of Greece in the imminent increase of the share capital of the National Bank imperative, under the following conditions, who will secure Her from every point of view:
1. The participation of the Church of Greece must be very large, covering Her proportional share.
2. Such participation is intended to be aimed at the majority package of the National Bank of Greece.
3. Ἠ Her participation must be carried out under strict conditions, agreed between the Bank's Management and the competent and by all means competent and efficient Synod on the Financial Committees, of the President and its members, who, finally, are placed under the approval of the Seventh Body of the Holy Synod of the Hierarchy.
4. It is also considered self-evident that the Church of Greece will determine the majority of the members of the Board of Directors of the National Bank.
5. The participation of the Church of Greece is proposed to be carried out through the use of properties belonging to it, the value of which, as it appears from the activities carried out during the past three years, through specialized companies of the Banks, estimates, amounts to four hundred, at least, million (400.000.000) Euro, the d’ their performance, during the past two years it has been continuously decreasing.
Believing that such a development and initiative of the Church will be for the good of the Church and especially of the suffering winter society, we submit the above considerations to the most prudent judgment and we act".
The hierarch, one of the most active with intense social and humanitarian action in his area, took the initiative to propose the participation of the Church in the increase of the Bank's share capital in order to avoid "the threatened de-Hellenization of the first credit institution of modern Greece". The participation of the Church will be greater than the percentage attributable to it as an existing shareholder (has about 15.000.000 shares). Participation, will be done within a predetermined framework with the management of the National Bank which, among other things, will provide for the proportional participation of the Church in the Board of Directors. of the institution.