Turkish Cypriot daily Kibris Postasi newspaper (03.11.15) reports that diplomatic sources told the paper that the income to be acquired from the natural gas reserves found in Cyprus’ Exclusive Economic Zone (EEZ) will be used for paying the compensations in the property issue in case of a possible solution to the Cyprus problem.
“Thus it is aimed to leave behind the concerns of the Turkish Cypriots that they will be forced to put their hand in their pocket”, writes journalist Ulas Baris in a report today. “Accordingly, the Northern Founding State, which with the solution will have rights on the gas reserves found around the island, will cover the compensations to come up in the property with the income to be acquired from here”, he writes adding:
“While the cost of the property that will come up together with the solution in the new plan which is debated is calculated to be approximately 25 billion euro, it is foreseen that this will be covered by international financing organizations on behalf of the Northern Component State and when it is covered the natural gas which will be extracted in the future will be ceded and [the money] will be taken back. Among the acquired information is that the International Monetary Fund (IMF) and the World Bank are activated on the issue of financing the estimated 25 billion euro for covering the compensations for the Greek Cypriot properties located within the boundaries of the Northern Founding State, but both institutions are waiting for the achievement of ‘tangible’ progress by the sides at the negotiating table […]”
Noting that Espen Barth Eide, UN Secretary-General’s Special Adviser for Cyprus, has made some contacts on the issue, Baris recalls of Turkish Cypriot leader Mustafa Akinci’s statement that the USA is also interested on this issue and is ready to contribute.