Register
Login:
Share:
Email Facebook Twitter

Cornhill Capital sees strong investor enthusiasm in London IPOs Watch here

Cornhill Capital sees strong investor enthusiasm in London IPOs


UK Money News


UPDATE 3-Turkish-, Greek Cypriots exchange maps in symbolic breakthrough

Wed, 11th Jan 2017 20:27


* Cyprus talks to shift to territory trade offs

* Deal would see shift in boundaries on island

* Foreign ministers of Greece, Turkey, Britain weigh in (Updates with maps submitted)

By Michele Kambas and Tom Miles

GENEVA, Jan 11 (Reuters) - Leaders of Cyprus's ethnic Greek and Turkish communities exchanged maps outlining rival proposals for territorial boundaries on Wednesday in a groundbreaking move diplomats hope could form part of a deal ending decades of division.

Presented, submitted and then sealed in a United Nations vault, territorial adjustments form an integral part of solving the decades-old Cyprus conflict which has kept Greece and Turkey at loggerheads and obstructs Turkey's membership bid to the European Union.

Rival sides did not disclose detail. Both maps will form the basis for more intensive discussions on defining boundaries.

"Never before have we had an exchange of maps, or a presentation of maps, created by the delegations themselves," Espen Barth Eide, the United Nations envoy for Cyprus, said before the handover.

Eide said the talks, aimed at creating a bizonal state with some form of shared central administration, were "on track". The island has been split since Turkish forces invaded in 1974 in response to a short-lived coup by Greek Cypriot militants seeking union with Greece.

"We have dealt with some of the most difficult issues. We have touched upon almost all of them, we have solved many of them and we are close to resolving some other issues," said Eide.

Emotions still run high over over issues such as territorial exchange and restoration of property lost on both sides as the island was partitioned amid bloodshed in 1974.

Diplomats say Greek Cypriot leader and President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci, two moderates, have a unique opportunity to settle a dispute which has dragged on for decades.

The foreign ministers of Greece, Turkey and Britain, guarantor powers of Cyprus's independence, were scheduled in Geneva on Thursday to discuss security parameters of any deal.

MOVING BOUNDARIES

Turkey has 30,000 troops in northern Cyprus. Their presence will be strongly contested by the Greek side, which says a deal is not possible without them pulling out.

The Greek Cypriots want the guarantor system dismantled, calling it an anachronism which could keep the island under the perpetual influence of Turkey. Turkish Cypriots, fearful of past experiences since the 1960s when they were targeted by Greek Cypriot nationalists, want Turkish guarantees to continue.

Any adjustment would modify the existing ceasefire boundary splitting Cyprus east to west and limit territory under Turkish Cypriot control from about 36 percent to just under 30 percent.

Past peace negotiations have reached a ballpark range of between 28.2 and 29.2 percent of Cypriot territory remaining under Turkish Cypriot control.

There are about 800,000 Greek Cypriots and 220,000 Turkish Cypriots.

Greek Cypriots want an arrangement which would see the maximum possible number of their internally displaced returning to their homes under Greek Cypriot control.

The 1974 invasion uprooted 165,000 Greek Cypriots, while about 40,000 Turkish Cypriots were displaced in intercommunal violence in the 1960s and a population transfer in 1975.

Property ownership in Cyprus is well defined and virtually impossible to dispute, a legacy of Britain's Lord Kitchener who established the country's land registry more than a century ago. (Editing by Ralph Boulton)



(c) Copyright Thomson Reuters 2017. Click For Restrictions - http://about.reuters.com/fulllegal.asp




Back to UK Money News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.