Cyprus News | South’s Gas May Be Just a Fizzle

Cyprus News | South’s Gas May Be Just a Fizzle

According to Yusuf Kanli of Hurriyet Daily News, the south’s great gas find in the Aphrodite field, block 12, will only be a fraction of the quantity being reported and the construction of LNG plants or a pipeline to Greece will not be feasible. If this is true, then there is no economically viable way for “Aphrodite gas” to finance the worst economic crisis the south has ever seen or to be used to force a favourable resolution of the Cyprus problem; favourable to Greek Cypriots that is.

There are also suggestions that the south is going to have to borrow more to finance its debt and that Greek Cypriots, despite being promised that things will get better soon, will be facing even more hardships. Meanwhile in the north, with the CTP-DP coalition promising similar dreams of better times to come the Turkish Lira weakening is promising confrontations with workers, especially those who haven’t been paid for months because the municipalities have run out of money. Against this backdrop of misery, surely a solution to the Cyprus Problem would cheer everyone up?

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