Özersay: Greek Cypriot Moratorium Move “Worst Decision in 20 Years”

Speaking on Kanal T’s Sabah Baskısı programme hosted by Pınar Gözek, Özersay evaluated recent developments regarding the European Court of Human Rights (ECtHR) process and the Immovable Property Commission (IPC).

He said the Greek Cypriot side’s move to suspend property transactions in the north amounts to a politically driven attempt to strangle the economy of the Turkish Cypriot side. “Even if it has not reached its final stage, this is the worst decision of the last 20 years,” he said.

Criticising the current UBP-DP-YDP coalition government, Özersay also accused it of lacking transparency regarding resources allocated to the IPC, claiming that frequent and retroactive legislative changes in property matters have undermined both domestic and international confidence.

Referring to the ECtHR’s 2001 judgment in Cyprus v. Turkey, Özersay recalled that the Immovable Property Commission was established in 2005 as a domestic remedy offering compensation, exchange, and restitution options. He said the current Greek Cypriot initiative aims to freeze property transactions in northern Cyprus and noted that the Council of Europe Committee of Ministers has, by a simple majority, initiated work to seek an ECtHR interpretation on the matter.

Özersay warned that although a further vote requiring a two-thirds majority would be needed at a later stage, the preparatory process itself is politically significant. “We are not yet in a lost position, but this is the worst decision of the past 20 years,” he said, adding that the likelihood of the Greek Cypriot side reaching broader support in future votes is increasing.

He stressed that alarmism should be avoided, but so should complacency.

“We must not allow the economy to be strangled”

Özersay argued that the aim of the Greek Cypriot side is to deepen isolation and pressure the northern economy, particularly the construction sector and related industries, which he said would be severely affected if a moratorium were implemented.

He said such an approach is incompatible with claims of seeking a settlement. “A side that says it wants a solution cannot pursue such aggressive, politically motivated policies,” he said.

Turning again to the government, Özersay accused it of damaging trust through inconsistent property regulations and alleged mismanagement of funds collected for IPC compensation payments. He further claimed the government lacks accountability and good governance standards.

Özersay also argued that practical reforms to the IPC mechanism are needed to reduce the state’s compensation burden and create clearer property value frameworks for investors.

He suggested expanding mechanisms allowing individuals or companies to resolve property claims through compensation or structured arrangements, and proposed extending similar approaches to properties belonging to Turkish Cypriots in the south.

He concluded that property rights should be respected for both communities regardless of a comprehensive settlement, stating that similar legal remedies and mechanisms should be made available on both sides.