Cyprus-Forum.com

[Lit]

Northern Cyprus May Go Bankrupt, Turkish Minister Tells Hurriyet

By Benjamin Harvey - Feb 12, 2011 7:22 AM ET

http://www.bloomberg.com/news/2011-02-1 ... riyet.html

The Turkish Cypriot administration could go bankrupt for not following protocols related to how Turkish aid should be spent, Hurriyet newspaper cited Turkey’s minister in charge of Cypriot affairs, Cemil Cicek, as saying.

Turkey paid 916 million liras ($576 million) in aid to the self-declared Turkish Republic of Northern Cyprus in 2010, of which 450 million liras went to close its budget deficit, the Istanbul-based newspaper cited Cicek as saying in an interview. Calls placed outside of regular office hours by Bloomberg News to the northern Cypriot Foreign Ministry in Nicosia and to the embassy in Ankara went unanswered.

The administration on the north of the island spends 84 percent of its budget on public workers’ salaries, Cicek said. Kuzey Kibris Turk Havayollari, a government-run Turkish Cypriot airline, went bankrupt last year after ignoring Turkey’s warnings about accumulating debts, and the same thing could happen to northern Cyprus itself, Cicek said.

Turkish aid to northern Cyprus should be used for the purposes outlined in protocols between the two governments, Cicek said. The only way to close a prosperity gap with the Greek-run south is for funds given by Turkey to be used more intelligently, he said.

[ZoC]

Turkish aid to northern Cyprus should be used for the purposes outlined in protocols between the two governments, Cicek said.

tc finance minister: "is it too late to place an order for an extra 200 of these please, mr cicek?"

[quattro]

Northern Cyprus May Go Bankrupt, Turkish Minister Tells Hurriyet

By Benjamin Harvey - Feb 12, 2011 7:22 AM ET

http://www.bloomberg.com/news/2011-02-1 ... riyet.html

The Turkish Cypriot administration could go bankrupt for not following protocols related to how Turkish aid should be spent, Hurriyet newspaper cited Turkey’s minister in charge of Cypriot affairs, Cemil Cicek, as saying.

Turkey paid 916 million liras ($576 million) in aid to the self-declared Turkish Republic of Northern Cyprus in 2010, of which 450 million liras went to close its budget deficit, the Istanbul-based newspaper cited Cicek as saying in an interview. Calls placed outside of regular office hours by Bloomberg News to the northern Cypriot Foreign Ministry in Nicosia and to the embassy in Ankara went unanswered.

The administration on the north of the island spends 84 percent of its budget on public workers’ salaries, Cicek said. Kuzey Kibris Turk Havayollari, a government-run Turkish Cypriot airline, went bankrupt last year after ignoring Turkey’s warnings about accumulating debts, and the same thing could happen to northern Cyprus itself, Cicek said.

Turkish aid to northern Cyprus should be used for the purposes outlined in protocols between the two governments, Cicek said. The only way to close a prosperity gap with the Greek-run south is for funds given by Turkey to be used more intelligently, he said.

the only way is to Run south to save your self's

[quattro]

Turkish aid to northern Cyprus should be used for the purposes outlined in protocols between the two governments, Cicek said.

tc finance minister: "is it too late to place an order for an extra 200 of these please, mr cicek?"

he must ask erdogan for any orders.

[Expatkiwi]

If the TRNC is destined to fail, I suppose that bankruptcy will do for a reason as well as any other. It was that which spelled the end of the USSR after all...

[Kikapu]

If the TRNC is destined to fail, I suppose that bankruptcy will do for a reason as well as any other. It was that which spelled the end of the USSR after all...

The USSR/Russia has a lot of natural resources to sell in a capitalist open market. What does the "trnc" have to sell, Hellim.?

[bill cobbett]

If the TRNC is destined to fail, I suppose that bankruptcy will do for a reason as well as any other. It was that which spelled the end of the USSR after all...

The USSR/Russia has a lot of natural resources to sell in a capitalist open market. What does the "trnc" have to sell, Hellim.?

.... as an aside.... gets me thinking that perhaps, other than for an issue of timing whether the former SU would still be around, if it had access to the present-day market values for natural resources.

[Expatkiwi]

If the TRNC is destined to fail, I suppose that bankruptcy will do for a reason as well as any other. It was that which spelled the end of the USSR after all...

The USSR/Russia has a lot of natural resources to sell in a capitalist open market. What does the "trnc" have to sell, Hellim.?

Evidentally, not a lot.

[ZoC]

If the TRNC is destined to fail,

37 years of failure to be recognised by anyone save the immoral whore who shat it; who's now ready to pull the chain and dispatch it to the sewer where it belongs.

i think we can safely dispense with the 'if' now, kiwi.

[Expatkiwi]

If the TRNC is destined to fail,

37 years of failure to be recognised by anyone save the immoral whore who shat it; who's now ready to pull the chain and dispatch it to the sewer where it belongs.

i think we can safely dispense with the 'if' now, kiwi.

Not until it's flag no longer flies over Northern Cyprus, ZoC.