This is an excellent article by Omer Aziz, published by Project Syndicate. It’s well worth a read. Check it out!
Economists argue that political reconcilation would add 3% to GDP for the combined Cyprus; with current austerity measures prescribed by the troika of the EC, ECB and the IMF, this would make a huge difference to unemployment.
Also Cyprus will probably struggle to get its offshore gas and oil industry fully launched until title issues are reconciled with Turkey.
Finally, look at the map to the right with Cyprus having the EU flag; this is misleading because the Northern part of the island is still occupied by Turkey which is not a member of the EU.