Thursday, 9 November 2023
“As long as Cyprus remains divided, it will remain inherently unstable”, head of the European Commission DG for Reforms, Mario Nava, said, the Financial Mirror reports.
Nava said that businesses were reluctant to invest in communities believed to be essentially unstable.
He also pointed out that in 2022, the volume of trade across across the EU Green Line regulation amounted to almost 50 million euros, the best result yet.
However, a settlement to the decades-long Cyprus issue would vastly improve economic activity and encourage new investments.
Nava stated that this was one of the reasons why the EU supported reunification of the island.
*As is widely known, North Cyprus is under trading embargoes, has no direct flights and uses the much devalued Turkish Lira as currency. [Ed.]