Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.N.'s Ban to open Cyprus talks in Switzerland next month

Published 10/28/2016, 07:27 AM
Updated 10/28/2016, 07:30 AM
© Reuters. United Nations Secretary General Ban Ki-moon sits at his desk as he poses for a portrait in his office at United Nations Headquarters in the Manhattan borough of New York

ATHENS (Reuters) - U.N. Secretary-General Ban Ki-moon will launch a new phase of peace talks between the leaders of ethnically-split Cyprus in Switzerland on Nov. 7, the United Nations said on Friday.

It was a "critical juncture" in the talks process, Ban's special adviser, Espen Barth Eide, said in a statement.

The leaders of the Greek and Turkish Cypriot communities are due to discuss territory trade-offs during the week-long consultations at the resort of Mont Pelerin.

"The meeting will concentrate on the chapter of territory, as well as all other outstanding issues interdependently," Eide said.

The island was split by a Turkish invasion in 1974 triggered by a brief Greek-inspired coup, forcing mass displacement of its populations with Greek Cypriots now living in its south and Turkish Cypriots in its north. A United Nations peacekeeping force mans a ceasefire line splitting the two sides.

"The two leaders have jointly expressed their hope that the meeting in Switzerland will pave the way for the last phase of the talks, in line with their shared commitment to do their utmost in order to reach a settlement within 2016," Eide said.

It will be the first time leaders have directly negotiated territorial adjustments which would move the boundary now existing between the two sides and reunite Cyprus under a federal umbrella.

Previous reunification proposals have given the numerically larger Greek Cypriots a bigger proportion of territory than they now occupy, but could also signal a displacement of Turkish Cypriots, or arrangements to live under Greek Cypriot control.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"It is important to recognize the particular sensitivity of this chapter for both sides, which is a key reason why the leaders have agreed to hold the talks outside of Cyprus, and why they want to conduct them interdependently with other relevant chapters," Eide said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.