Fiona Mullen

Economic woes in Russia are tempering prospects of bailed-out Cyprus returning to growth in 2015 and mean the island nation risks a fifth year of recession, analysts say.

With President Dr. Derviş Eroğlu repeatedly denying that talks with the Greek Cypriot side were in a deadlock and even Greek Cypriot opinion makers accusing Greek Cypriot leader Nikos Anastasiades of becoming a “conservative Christofias” interested only in stalling tactics, a paper stressed the peace dividend would radically change communal and individual prospects.

A study prepared by Turkish and Greek Cypriot economists predicts that a peace deal would generate 20 billion euros for the divided island, by expanding the size of their economies Cyprus reunification deal would generate a 20-billion-euro ($27.2 billion) peace dividend for the recession-hit island, according to a study released.

A Cyprus reunification deal would generate a 20-billion-euro peace dividend for the recession-hit island, according to a study released on Thursday.