Calling the financial situation "very bad" for people in his birthplace of Cyprus, Father Panayiotis Papageorgiou on Sunday urged members at Holy Transfiguration Greek Orthodox Church in Marietta, Ga. to pray, fast, and repent.
Papageorgiou said citizens of Cyprus are being told that 10% of their savings in bank accounts would be given to the government. Fox News is reporting that banks closed today and may not reopen until Thursday because of a recent run by depositors pulling out funds.
Cyprus, the third largest island in the Mediterranean Sea, is a member of the European Union.
For more information on the financial crisis in Cyprus, go to: http://en.wikipedia.org/wiki/2012_Cypriot_Financial_Crisis