Word: cyprus
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...Wales, Greece's woes are an "opportunity to consolidate and buy up companies with liquidity problems." Constantine Petropoulos, chairman of Petros Petropoulos, a $158 million firm that sells cars, automotive supplies and industrial equipment, has already diversified his business, inking a deal to distribute Shell lubricants in Greece and Cyprus, a move he figures will keep revenues flat and prevent them from deteriorating. He plans to beef up his portfolio further. "We will acquire businesses that we wouldn't have ever been able to consider in better times," he says. "We will come out of this a stronger company...
...hijackers demanded that 1,500 prisoners in Cyprus and Israel be released and that they be flown out of Pakistan. At one point, the hijackers shot and threw hand grenades at passengers and crew in one part of the plane. Some 20 people, including two Americans, died during the hijacking...
...complicating factor. The island's last major opportunity for resolution was arguably lost when Brussels accepted Cyprus, as represented by its Greek Cypriot government, as a member in 2004, even though Greek Cypriots had rejected a painstakingly crafted U.N. peace plan in a referendum vote just prior. (Turkish Cypriots voted yes.) As a result, the Greek-Cypriot republic lost any incentive it might have had to speed up negotiations. (Read: "On the Run in Cyprus...
...while both sides say they want to reunite Cyprus as a bicommunal federation, sticking points range from how power sharing would work to property grievances of tens of thousands of people who lost their homes in the conflict. About a quarter of Cyprus' population of around 1 million is internally displaced. Talks on the sensitive issues of property and security have barely inched forward since last year, despite twice-weekly meetings. The problem now is that time is running out for the Turkish Cypriot side. A deal, or at least a concrete roadmap, would have to be agreed by late...
...homes. Visiting the island last week with a group of peacemakers known as the Elders, former U.S. President Jimmy Carter said he was confident a deal was within reach and optimistic that both leaders were "completely determined to succeed". He knows better than most how elusive peace in Cyprus can be. Carter was responsible for the United States backing a 12-point Cyprus peace plan in 1978, which failed to produce results. Thirty years on, perhaps this time they'll finally get it right - if a missing corpse doesn't come between them...