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How much would a settlement cost?

1 June 2015

In the event of a solution, the president of the new federal state will have a tough time finding investors for the ghost town of Varosha, Greek Cypriot daily ‘Politis’ reports.

According to the newspaper, it will take ten years and cost between 6 and 7 billion euros to rebuild the town. The report stresses the point that the details of the solution are more important than the cost, but asks what the cost will be for the Greek Cypriots to implement a settlement. The estimated overall costs of the settlement are 25 billion euros.

Pointing out that the real cost will come when people are compensated for being displaced and rehoused, the paper says that new housing will have to be built in the process. Who would be willing to finance the rebuilding of Varosha it asks?

Politis, Kibris Postasi

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