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article by Steve Kordas in todays Sunday Mail


BEFORE I start, I would like to introduce myself: I was born and raised in Athens, served my military term in Cyprus in the early 1970s and am now the managing director of the Treasury trading section at JP Morgan Chase (London). As an economist, I believe that our Greek Cypriot kinsmen appear to be drifting away from certain realities in Cyprus that may materialise into a serious issue for them if they do not grab hold of the opportunities of today.

Whether we believe it or not, Turkey will one day become a European Union member state. No matter how many times they are slapped in the face or undermined by the present EU countries and governments, I have no doubt that Turkey will eventually become a full member. The issue relating to Cyprus, however, is the concerning factor that President Tassos Papadopoulos appears to ignore, or is too hesitant to make the first political and historical moves to resolve.
I, and many in the Greek banking sector, strongly believe that our Greek Cypriot leaders should set aside their pride and strong beliefs and realise certain realities in order to make a decision that will benefit their people in the future. To concentrate on a federal-based formula that marries both communities under one umbrella with the least amount of restrictions would, in my view, be a major mistake on our behalf (both for Greece and Cyprus). If we fail to realise and accept a foundation agreement based only on two autonomous states, and rid ourselves of the reality that Northern Cyprus is now a Turkish Cypriot state, in the long term, we will have to accept certain harsh realities.

Under EU law, its constitution and system, if Turkey enters the EU as a full member and Cyprus is united under a bi-communal federal government, the threat to Cyprus of mass Turkish migration will be unstoppable. In practical terms, no law will be able to stop or control Turkey from sending thousands of refugees via Turkey, posing as Kurdish or other refugees, to Cyprus, claiming political asylum. This will inevitably change the demographic trend on the island and may one day see a majority Turkish population. There will also be no way to control the now influential and extremely rich and powerful Turkish businessmen in assisting their Turkish Cypriot kinsman in acquiring huge areas of land all over Cyprus. Let us not ignore a very important fact that the Turkey of today is almost a different country from the Turkey we knew in the 1970s. Turkey now boasts huge investments, economic progress, political gains and prefers not even to consider looking in the same direction as its military leaders. A federal Cyprus will only cater for the needs of Turkey’s expansionist strategy, where it now has the economic capability to flood Cyprus with more money that it can handle.

The above two points are only minor disadvantages of seeking a federal formula that will convert the Republic of Cyprus into a mini-Turkey. In my recent contacts with certain Turkish businessman, especially around the time of the Cyprus 2004 referendum, I noticed they were gearing up to assist their Turkish Cypriot relations in financing huge projects centred on areas only in south Cyprus. I sincerely hope that the Greek Cypriot leadership is aware of its actions regarding the search for a solution based on a unified Cyprus under one umbrella, and changes their current way of thinking.

At this moment in time, the Greek Cypriots, if they can see the realities and threats of the future, and swallow their unrealistic dreams, could actually gain a lot more if they secure a solution based on a two-state formula, now rather than later. If they can move fast enough, they may even be able to gain large areas of land in return for recognition of the Turkish Cypriot north, as opposed to having to accept their recognition in the future controlling 40 per cent of the land of Cyprus.In securing a two-state, two-republic based formula, we will be able to protect and secure the hard work the Greek Cypriots have achieved to date in making the Republic of Cyprus an economically and politically successful state. I am afraid that if we waste any more time, especially considering the political advantages the Turkish Cypriots are now gaining on a daily basis, we may have to face the reality that all our hard work since 1974 will have gone to waste.

Very interesting article, appears to be realistic and concerned that GC administration are not moving in the correct direction.