Cyprus-Forum.com

[CBBB]

Thu, Jan 29 2009, 14:14 GMT
http://www.djnewswires.com/eu


Cyprus Reunification Would Need EUR1 Billion From Donors - Study

NICOSIA (AFP)--A reunited Cyprus would cost EUR9 billion, with international donors having to plug a EUR1-billion shortfall to fund a settlement, according to a study released Thursday.

In the independent report published by the local branch of the International Peace Research Institute in Oslo, three Cyprus-based economists focus on the investment needed to implement any peace deal.

"If you look at it rationally, there are ways of financing a solution without the country going bust," said Fiona Mullen co-author of "Reconstructing a Reunited Cyprus."

"Cyprus has lots of sources of finance. It's in the euro zone and has a stable economy. Even in the current global environment, there are plenty of sources to finance a solution," she added.

The report calculates that Cyprus could also receive an additional EUR600 million euros in non-refundable grants from Brussels if re-defined as two statistical regions.

This amount is not included in the estimated total borrowing requirement of EUR9 billion.

Public and private investment is put at around EUR7.2 billion for new housing, renovation and infrastructure projects in moves to unify the road, electricity and communication networks.

The report includes a rough estimate on property compensation based on paying back interest on bonds, although much will depend on any final settlement.

Most of the refinancing would come from Greek, Turkish and Cyprus banks as well as the European Investment Bank, but the shortfall would depend on the "willingness of the international community," the report says.

(END) Dow Jones Newswires

January 29, 2009 09:14 ET (14:14 GMT)


Copyright 2009 Dow Jones & Company, Inc.

http://www.cyprus-forum.com/posting.php ... wtopic&f=8


With the current economic crisis we had better wait a bit before solving the Cyprus Problem!

[insan]

Thu, Jan 29 2009, 14:14 GMT

With the current economic crisis we had better wait a bit before solving the Cyprus Problem!

True After the economic crisis, could it be possible for vast majority of GCs accept TC community as a politically equal state partner?

[Simon]

Could it be possible for TCs to accept human rights?

[Piratis]

Could it be possible for TCs to accept human rights?

and democracy?

[insan]

Could it be possible for TCs to accept human rights?

Of course... From the point where "majority rule/political equality" struggle of Hellenes and Turks led us. That's what leaders of 2 communities keep negotiating and international community encourages anyway. By-passing our past relations, puting all or most of the blame on Turks and pretending Hellenes were the only victims won't lead us a solution how u desire. From the situation we currently being in, we need to find a new begining that would satisfy vast majority of 2 communities, respectively.

[Kyrenia]

Could it be possible for TCs to accept human rights?

We do accept.

[paliometoxo]

turkey is the one who bombed the island and put the grene line.. they should be the ones to pay to re unite the island if we ever see that deal..

[Viewpoint]

turkey is the one who bombed the island and put the grene line.. they should be the ones to pay to re unite the island if we ever see that deal..

Is that just because they felt like it? Can you tell us why had to come to Cyprus at great cost not just financially but in lives around 4500 Turkish soldiers were killed by GCs.

[Viewpoint]

Could it be possible for TCs to accept human rights?

and democracy?

Not purely GC adminstered.

[YFred]

Surely, just confiscating Papadobullos and Denktash'e estates, should be enough to pay for the unification, easily!
As they were predominantly the real cause of the Cyprus problem and the management of it till Talat and that other pretending peace man came to power.