The monastery is situated on the seafront with Byzantine arches, towers and balconies. It was founded before 972, by the monk Efthymios, storekeeper of the Great Lavra. Its benefactors were many Byzantine emperors but unfortunately in 1578 it was mercilessly hit by pirates, the plague of the peninsula, because of its precarious position next to the sea. In the 17th-18th century, new wings were built with contributions of rulers of Danubian Principalities. Its treasures, however, were finally grabbed by the Turks, who confiscated its estates.
An imposing Byzantine tower dominates the northern part of the monastery and houses a library of 5000 books, parchments and 441 manuscripts, particularly illustrated. The brick-surrounded catholic, tall and spacious, is located at the bottom of the courtyard, towards the sea. Dedicated to the Taxiarches, it includes excellent frescoes of the Cretan School, most of which are attributed to Tzortzis (1568): the roots of Jesse and the Second Presence have been discussed by many art specialists. Most of the wall paintings were repainted in 1855. Of exquisite beauty and art are also the wood-carved ciborium and the iconostasis of the catholic.
The most important of the 9 chapels of the monastery is Panagia Gorgoepikoos.
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