History for the lame
Let me declare my nationality and potential bias: I am Cypriot (of Greek ethnic origin) but above all I am a property investor who would not invest in Cyprus. North or South.
The events depicted in the "home" video link refer to very recent events of Cyprus history. The video is partial and grossly biased and what really happened is extremely complex and difficult to explain. UK foreign Office and CIA Cyprus files are still mostly classified so the truth about the Cyprus problem is still vague.
Investors need to be extremely careful about information they read or view on Cyprus because it is predominantly PARTIAL and in the least biased FROM BOTH SIDES.
Here’s a brief run down of how I understand the Cyprus problem:
1. Recent hostilities started in the 60s but the wounds run deep, as early as 1915.
2. By the early 70s, innocent civilians killed on BOTH sides by nationalist terrorist organisations from BOTH sides – EOKA B (Greek) TMT (Turkish) (in my opinion both traitor groups, both financed by MI6 and the CIA).
4. There was a Turkish military intervention in 1974 (invasion as per Greeks, peace keeping as per Turkish). Many people killed and made refugees, on BOTH sides, Greeks in a larger proportion because of their numbers on the island and other reasons such as the superiority and the numbers of the Turkish army and the treason amongst the Greek army.
5. Ethnic Greeks and the remnants of the Cyprus republic have been confined to the South. Ethnic Turks and Turkish settlers confined to the North. In 1983 declared the Turkish Republic of Northern Cyprus (TRNC).
6. The Island is divided in 2, there is no war now, but a ceasefire keeps the peace. There is strong military presence on the island in both parts.
7. The same people who destroyed peace on the island (the Americans & British) have been trying to solve the Cyprus problem since the early 90s but have failed for many reasons. In short, the Greeks still think they can go back to pre 1974 Cyprus (back to their homes, land),on the other hand the Turkish Cypriots who might want a solution to the problem are completely overshadowed by Turkey who is unwilling to relinquish anything gained by military conquest.
8. The recent Anan re-unification plan has been the latest effort to end the stalemate but it was considered biased and unfair by 76% of the Greek cypriots. They voted against it at the 2004 referendum. On the contrary, the Turkish Cypriot community voted 64% pro Anan plan. The plan is dead and buried and currently there are no peace plans on the horizon.
9. Prior to the Republic (South) joining the EU (2004),Turkey had no reason to solve the problem. Now, problems arising from EU Acquis Communaitaire and EU laws, pose a threat to Turkeys EU accession talks. There needs to be a solution but it appears that up to now Turkey has managed to cede nothing and still the TRNC is constantly been gaining momentum. Be extra careful though, this does not mean that the Cyprus property issue in the North is solved, there are hundreds of cases against Turkey in the European courts, even the Orams case is still under appeal.
10. The TRNC is trying to address the property issue with the Property compensation committee set up in the North where Greek Cypriots can seek compensation for their property lost because of the war. This is discouraged by the Republic (South) even though a small minority (around 200, refugees numbered 200,000 in 1974) have resorted to the committee. There have been widespread reports that the compensation offered to the applicants is nowhere near the real value of the property and many have backed down.
My view is that the TRNC property is of extreme risk and people should look elsewhere for their place in the sun. Even the Republic of Cyprus (South) is highly overpriced and in my view a bubble about to burst. My advice, forget Cyprus.
Good luck with your investments.
Hi all,
