If there were an award for the most ironic figure in Cypriot political reality, it would undoubtedly go to this one: two euros per month. That is how much each refugee who owns occupied property will receive as compensation for the loss of use they have endured for half a century — unless the dedicated fund is significantly bolstered.
The revelation came during a session of the Parliamentary Committee on Refugees, which examined the implementation mechanisms of a bill introduced by MP Kostis Efstathiou. The relevant legislation, already passed into law, provides that 0.4 per mille of every real estate transaction will be channelled into the compensation fund.
According to Committee Chair Nikos Kettiros, annual revenues range between €20 and €25 million. It sounds impressive — until you do the division. With four out of ten eligible owners set to receive just €2 per month, Mr Kettiros publicly questioned whether the per diems of invited participants in hours-long sessions are worth the sums being discussed.
A key question also remains open: will the compensation be calculated from 1974, the year of the Turkish invasion, or from the date the law was passed? The trend appears to lean towards 1974, while there is also debate over whether only natural persons or also companies should be eligible.
Mr Kettiros made it clear that without a serious boost to the fund, the entire endeavour risks remaining on paper.
