Greek Cypriots receive €30m from north’s Immovable Property Commission (IPC) so far this year.
by SolveTheCYproblemNOW
Greek Cypriots receive €30m from north’s Immovable Property Commission (IPC) so far this year.
by SolveTheCYproblemNOW
2 comments
>**The IPC has awarded more than £446.2m (€523.7m) in compensation since its creation** in 2005. It examines claims for compensation, as well as for restitution – the handing back of Greek Cypriot-owned property in the north – and exchange of land.
>In January, former IPC chairman Ayfer Said Erkmen said t**he cost of compensating every single Greek Cypriot for every single piece of land lost in 1974 may top £22.4 billion (€26.3bn).**
>With this in mind, he said the “most important problem” facing the IPC is financial resources, and that Turkish Finance Minister Mehmet Simsek had suggested that the current user of any given property should pay 20 per cent of any compensation handed out and that the Republic of Turkey would pay the rest.
>However, he said this idea was rejected by the properties’ current users, and that as a result, the Turkish government now does not pay into the IPC and **nearly 4,000 applications are pending.**
>On the matter of Varosha, he said applications have been made for 404 of the area’s 824 total properties, while €198m has also been sought for loss of use.
If you are a refugee and you litterly wann make Turkey pay, go to IPC.
So far the IPC/Turkey payed only €523.700.000 vs the €26.300.000.000 worth of the properties.
For people who do not really understand exactly how iIPC works, check this [podcact](https://www.youtube.com/watch?v=DW5Qwl3THZE&t=3s) (Greek)