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Too much emphasis on property compensation costs

Too much emphasis on property compensation costs

March 22
12:02 2016

Estimates about the financial cost of compensation on property, in the event of a solution to the Cyprus problem have been exaggerated, Greek lecturer and business consultant Yorgos Prokopakis has said. He added that it was pointless to discuss the cost of the solution, given that there would be huge economic gains following a settlement.

In an interview with Greek Cypriot dailies Alithia and Politis, Prokopakis said that both leaders are under an obligation to find a solution to the Cyprus problem. It denotes success that currently, there is a constructive ongoing dialogue.

In the case of a settlement, compensation will be given within all possible means. He noted that the issue of compensation was obscuring the true perspective of a reunified Cyprus.

According to the news report, Prokopakis stated that the Greek Cypriot economy has begun to stand on its own feet again, but there are some underlying risks. He also mentioned that the hydrocarbon reserves in South Cyprus’s so-called “Exclusive Economic Zone” presents a “golden opportunity” both for new investment opportunities and for the solution of the Cyprus problem.

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