Turkey’s Offer To Cyprus: Turkish Lira

Turkey's EU negotiator Egemen Bağış
Turkey’s EU negotiator Egemen Bağış

Offering to step into the breach to help Cyprus during its crushing economic crisis, Turkey – whose troops still occupy the northern third of the island unlawfully since invading in 1974 – said it would support an eventual transition to the use of the Turkish Cyprus Lira in Greek Cyprus, the currency Turkish Cypriots use, if Cyprus is forced out of the Eurozone, EU Minister and Chief Negotiator Egemen Bağış said.

The minister, speaking at an event in Istanbul, argued that if the Greek Cypriots had approved the U.N. reunification blueprint in 2004, known as the Annan Plan, it would have been spared its recent economic woes. “(President) Nicos Anastasiades’s government is paying the price of the (previous) leadership and trying to put the pieces back together. It’s not proper to kick someone when they are down. God save them,” he said, noting that Cyprus’ President backed the plan that Greek Cypriots overwhelmingly rejected nine years ago.

“We hope that they will reach a solution and the uncertainty will come to an end as soon as possible,” Bagis said as Cyprus struggled to find a way to come up with 5.8 billion euros ($7.5 billion) to trigger release of 10 billion euros ($13 billion) in international aid. The European Union has given Cyprus until the end of March 24 to devise a plan before cutting off liquidity to the central bank which could bring down the economy.

Turkey is also on alert for the long term knock-on effects that such a bailout could entail for Europe. Only Turkey recognizes the government in the part of the island it occupies and the Turkish Cyprus Finance Minister said that if Greek Cypriot banks went bankrupt, Greek Cypriots might open accounts in Turkish Cypriot banks.

  • Alithia

    They invented a word for exactly this kinds of “offers”. ——> LOL

    Up next, the Jews offer shekels. The Pols offer zloties, Parker Brothers offer Monopoly money…..

    Just take the effen haircut on the rich Russians and call it a day. The banks will NEVER be the same, the fat money will leave so do the best with what you have within the EU.

  • King Kostas

    Beware of Turks bearing

  • King Kostas

    Beware of Turks bearing gifts

  • That term is from history an it is “Beware the Greeks bearing gifts” referring to Trojan horse and Greek tricks for war strategy not Turks

  • Audra

    He didn’t mean it exactly like that- he was playing off the usual saying, replacing Greeks with Turks.
    Or that’s what I’m assuming, at least.

  • Icarus

    No, Tell the EU/IMF to take a hike instead. Honestly, the way this cash grab is being imposed by our Western “allies” who allow Turkey’s occupation to continue, it’s almost better to sell the remaining gas exploration licences to Russia, invite them to set up a naval base, and ditch the Euro. Every nation must have a red line and some honour. Greece and other Europeans might learn from Cyprus.


  • Cypriot

    Some people can’t notice connections…

  • Cypriot

    This will never happen. It’s hilarious that it would even be proposed!

  • Alithia

    If there wasn’t serious geopolitical issues at stake, I’d agree. We don’t really want Cyprus and Greece to become playthings for the superpowers because frankly, we’re nothing more then toys to them.

  • Swed

    Please, get the Russian bases and we the rest of Eu would not need to support you to the tune of 10B€ this week and god know how much next month when all the Russian money is emptied next week/month.

  • 6800

    Turkish gifts to man kind are genocide, mass murder, forced starvations etc etc.

  • someone

    so proud yet so fool, so high above yet so broke. the Greeks are living in the dream world. Wake up you fools, you are broke!!! and that’s because of your stupidity and we can see it from your comments. The Turks that we don’t like much are in a position of helping you. What a stupid situation for Greeks. Who is to blame? Guess what, the so proud Greeks. Keep going you ignorant intelligents you are on the right track!!!

  • Cypriot

    I will never trust a Turk.

  • someone

    Trust your European friends, or Russians, or Israelis or, even go to Arabs if you like, the sheiks, they will give you money and you know what you have to offer them in return. if all these doesnt sound nice, then starving to death is your best option. Jeesus man!! Wake up brother, just wake up…

  • Cypriot

    I trust no one.

  • hankz

    To the Turks I’ll say, “Shove that lira up your ass”…

  • roderick starns

    at least using the turkish lire is a realistic option .hubris or pragma ?

  • AKA

    EU need to accept only members who are fit and govern, not incompetent countries who drag the rest of the worlds economy down.

    Sack the countries who fail to meet there targets!

  • roderick starns

    if we can forgive the germans why not the turks who have more in common with south european countries than the germans do
    the lesser of two evils.

  • Ola

    Look what happened when the Greek Cypriots trusted the Greeks over the last few years and 40 years ago when the Athens backed military coup kidnapped their president in order to force union with Greece.
    Smart move!
    Yes – Greek Cypriots just keep trusting the ones from Greece 😉