Nikitas wrote:"Does this mean the UN is now taking the lead - or proposing a new plan? Also, I would be curious what would be considered not "nonsense" from a GC perspective."
If you recall the Annan plan had some complicated way of property settlement which included "certificates" to be given to property owners, which they theoretically would be able to cash in or exchange etc etc.
The UN now is looking for what they call a "market approach" to the properties issue.
What they GC side regards as a starting point are the property rights of the original owner and the free dealing of owners. Presumably those that want to exchange, keep, sell, etc will be able to do so, subject to whatever limitations are agreed to be acceptable, ie land which has been used for public works, or has been developed beyond recognition etc.
My prediction is that a surprising number of TCs will want to retain their land in the south. I may be wrong, but that is one possibility which is being overlooked.
Interesting, moving from a politically managed mechanism for dealing with property to a market lead basis.
I think most would welcome any progress that attempts to address resolving the issue. I have my concerns if left to true market forces as anyone would that sees the desire to "game" markets and prices - a read of Akerlof and Schiller's Animal Spirits would be an example of how free markets without well formed controls can be more damaging than beneficial.Even for big players they can get destabilise themselves and the market or the whole structure.
Please don't get me wrong, in principle I am a free markets person but we all know that game theory plays a role and the resultant situation can often become unmanageable and problematic. So let's hope it is approached from a constructive point of view which will facilitate stability rather than undermine it.
As it stands right now Nikitas, if you believe in free markets, then individuals have an avenue via the IPC in the north for accepting or rejecting the offer for land, if not acceptable then the opportunity to seek evaluation via the ECHR. This is a warped market, but one at least that is providing a measure of value to be presented for the land. Unfortunately the same does not exist yet in the south for TCs.
If the postponement of talks by Christofias today is anything to go by, it would appear we are in for the long wait for anything new and positive to develop.