Northern Cyprus « Dr Alf's Blog

Map of the districts of Cyprus, with English annotations, and showing the Turkish Republic of Northern Cyprus, United Kingdom Sovereign Base Areas, and United Nations buffer zone. The TRNC section illustrates the current de facto district boundaries following this map as a guide. The northern districts are labelled in Turkish. (Photo credit: Wikipedia)

Hurriyet, the leading Turkish newspaper reports that the left-right grand coalition government in northern Cyprus has collapsed due to its failure to deliver on exactly what it promised to do in the first place: undertake long-overdue reforms and achieve the restructuring of the Turkish Cypriot public administration

Source: Northern Cyprus in crisis of government – YUSUF KANLI

This is bad news for Northern Cyprus and for the proposed political solution with Greek Cyprus. It will potentially impact the whole of the Eastern Mediterranean, including offshore oil and gas development.

The article is written from the stance of Turkey as the benevolent protector but some of the insights are important. The attitude of the north Cyprus municipalities to the water pipeline from Turkey is unbelievable, putting narrow self-interest first.

Thoughts?

English: Northern Cyprus location (Photo credit: Wikipedia)

The FT reports that Cyprus turned the page on one of the most painful episodes in its recent history on Monday as finance ministers affirmed the country’s successful exit from its three-year international bailout programme.

Source: Cyprus lauded on exit from €10bn bailout – FT.com

This is an important and proud achievement for Cyprus although it has been very painful for the people of Cyprus, especially the young.

The early exit from the bailout programme marks a new confidence in Cyprus. Tourism has rebounded in Cyprus but more important is the opportunity for strategic windfalls. Firstly, there is offshore gas and opportunities for collaborating with Greece, Israel, Egypt and possibly Turkey. Secondly, there is growing confidence with the reunification talks – the north of Cyprus has been occupied by Turkey for decades. Against this background, Cyprus is expecting a significant increase in foreign investment.

Thoughts?