alexISS wrote:Pyrpolizer wrote:NB.Using EU aid Greece surpassed us in many sectors e.g manufactiring, high-tech (computers etc). Generally however they are still a bit behind us. That’s not the point though.
If you are a bit ahead of Greece (although I don't think you are), you still owe it to Greece, don't you think?
Alexis, what “Pyrpoliser” meant in his undoubtedly usually redundant comments is that Cyprus is indeed a bit ahead in terms of per capita GDP, and this is not some kind of a secret. Our pleasure is to see the economy of Greece continuously advancing and I can assure you we will not be displeased at all even if it surpasses that of Cyprus one day. You must also be aware that at a time a lot of Greek investment capital leaves the boarders of Greece and moves into neighboring states, a lot of Cypriot investment capital moves into Greece, especially in areas of tourism development. The balance of investment capital flows between our two countries is overwhelmingly in favor of Greece.
We indeed owe a lot to Greece, mainly in the areas of moral, political and diplomatic support in relation to the Cyprus problem, throughout all the years since 1974, and also for the accession of Cyprus into the EU, but in terms of economic development you cannot really say that it is all due to Greece. The balance of trade (imports/exports) was always in favor of Greece, as well as the balance of tourist visits. On the average and for the last 15 years, only about 100,000 holiday arrivals come to Cyprus from Greece on a yearly basis, versus about some 300,000 the other way around, even though the population of Greece is 20 times more than that of Cyprus. Even the economic burden of Greek military stationing in Cyprus of some 1,500 troops and officers is largely covered by the RoC.
Indeed nearly 50% of Greek Cypriot students have been traditionally studying in Greek universities without tuition fees, but this means that those people also transfer money from Cyprus into the Greek economy because they have to cover all their living expenses, something which in a way counterbalances the cost that the Greek public encounters as a result of providing free education. Of course now we have our own state university as well, and we are in the pleasant position to also offer similar scholarships to Greek students, always on the same per university proportional basis.
Greece indeed provided to Cyprus some tens of millions of dollars of annual very valuable direct financial aid during the early years after 1974. I am not sure for how many years it lasted, perhaps until mid-1980’s, but I have a hope and a strong feeling that due to the all the factors I mentioned above, this must have been reciprocated and we are now probably even in a sense, and that Greece did not in the end lose down to Cyprus.