It's officially being called the "Holy and Great Synod of the Orthodox Church" and will be held in Istanbul in 2016. It will be presided over by the Ecumenical Patriarch of Constantinople.
Many sources are calling this an "Ecumenical Council," which is huge. We've had 21 of those in the 2000 year history of the Church, but the orthodox stopped participating regularly after the first seven (they sent prelates to the Second Council of Lyons and to the Council of Florence). They haven't had one of their own for 1200 years, under any name.
So, this is pretty big news. May God guide them.
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