CYPRUS PROBLEM -property issue

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/03/2011 21:20

The United Nations Secretary General’s Special Adviser for Cyprus Alexander Downer has made important statements concerning the property issue.

The Un Special Envoy warned that a failure to settle the Cyprus Problem could spur new compensation cases on the property issue.



The United Nations Secretary General’s Special Adviser for Cyprus Alexander Downer has warned that failure in the ongoing negotiations process aimed at finding a solution to the Cyprus Problem would saddle both sides with a massive wave of property claims worth "tens of billions of euros."

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/03/2011 21:21

Downer told The Associated Press that the continued stalemate would spur compensation litigation for property that have been lost since 1974.



Earlier, the Greek Cypriot Foreign Minister Markos Kiprianu said that they did not support applications made to the Immovable Property Commission, stating that the agreements made between the Commission and Greek Cypriot applicants were not binding for the Greek Cypriot government.

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
28/03/2011 21:22

Surely that is good news for ex-pats ?

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/03/2011 21:35

Downer went on to say



One scenario is the financial challenges that would arise.



"The sovereign risk of Cyprus will rise, so investment here will be less attractive than would otherwise be the case. But there?s a second thing, don't underestimate this property issue.



"If there is no political solution to the property issue, there will still be a solution, and it will be a litigated solution."



He predicts that Turkey and the Cyprus Republic "will end up with enormous bills to pay for compensation" for the loss of properties on either side of the divide, with Turkey "obviously" getting lumped with the much bigger bill.



Based on current values, Downer estimates that mass litigation for total compensation could run up bills "in the tens of billions of euros".



And should the talks fail, will the number of settlers in the north grow or shrink?

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/03/2011 21:36

While a federal Cyprus government could regulate incoming migrants, without a solution, the Cyprus Republic has no say at all, regardless of international law.



Christofias and Eroglu were locking heads on the settlers issue all last week. Eroglu wants every 'TRNC citizen' to get automatic citizenship of a new federal Cyprus. Christofias is willing to accept up to 50,000 settlers.



Eroglu refuses to hold a joint census and only hints at UN collaboration for an independent one he plans to hold in the north.

According to Downer, "the level of trust is pretty low" so for the results of either census to be acceptable to the other side, the UN needs to be involved.

"They need to be confident that the census that's conducted is genuine, that there's no fiddling the numbers for political reasons."

The three main categories of Turkish settlers are: singles, those who are married to Turkish Cypriots, and the children of mixed marriages who were born in Cyprus, like Eroglu's own grandchildren

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/03/2011 21:38

Quoting Turkish Cypriot politicians, Downer estimates that in addition to those categories, there may be another 200,000 Turks who have been resident in the north for more than five years, giving them the automatic right to apply for 'TRNC citizenship'.



"Here's a thought. If there is an agreement, then those 200,000 probably wouldn't be granted citizenship by the new federal united Cyprus government. If there isn't an agreement...the Turkish Cypriots might decide to give those people so-called citizenship."

Given the higher living standards in the north compared to Anatolia, without a solution, "the Turkish proportion of the population will continue to grow, quite fast".

He adds: "Maybe there is an argument that you ain't seen nothing yet if you can't negotiate an agreement."