BRUSSELS – A prominent European Parliament lawmaker is scolding Cyprus' bailout creditors for failing to insist on the country's reunification — a development that he says could boost growth through stronger business ties with Turkey.
Green lawmaker Daniel Cohn-Bendit said Wednesday a sustainable economic recovery for the east Mediterranean island nation can only be achieved by attracting trade and investment from the region's biggest and most dynamic economy, Turkey.
Cyprus was split in 1974 after a Turkish invasion. Turkish Cypriots declared an independent northern state in 1983 that is only recognized by Turkey. The last U.N.-brokered attempt to reunify the island failed in 2004.
Cyprus is receiving a 10 billion euro international bailout ($13 billion) and is imposing extensive losses on deposits over 100,000 euros its two biggest banks.