Greek Cypriots have rejected Communist rule in favor of a center right president in Nicos Anastasiades, with a commitment to clear up the island's economic mess by seeking a formal bailout from the eurozone, which will come with harsh austerity measures. To be fair to Cyprus' AKEL Communist party, the financial debacle was not entirely of its own making. The Greek Cypriot state was dragged down by its close financial links to mainland Greece. Its banks were hammered when fully 70 percent of their funds committed to the Greek banking system were wiped out overnight, thanks to Greece's economic collapse. However, the Communist president Dimitris Christofias set his face against the tough austerity program demanded by the eurozone and cast around for alternatives. These included trying to get the Russians, who have used Cyprus as an offshore and occasionally dubious banking center, to bail the island out. The Greek Cypriots had had enough of this desperate political and financial fumbling, and in the second round of the presidential voting, rejected the new Communist candidate Stavros Malas. Now, however, the new president-elect has an opportunity to do something far more substantial than sort out what is, after all, a temporary financial mess. He can use these exceptional times to reunite Greek and Turkish Cyprus. For years it was the Turks in the north of the island, under Rauf Denktash who spurned offers from the south to reunite. With the passing of Denktash, it became apparent that Turkish Cypriots were anxious for reunion. So too was the Turkish government in Ankara, fed up with giving military and financial support to their compatriots on the island - many of whom were Anatolian peasants shipped in to farm land abandoned by Greeks or the original Turkish owners who had migrated. But by then the Greeks in the south, mesmerized by EU membership for their part of the island, rejected reunion. Although in 2004 Turks voted for reunion, Greeks rejected it. As it has turned out, both sides have been the poorer. President Anastasiades therefore should be looking at the wider, longer-term picture. Nor will any initiative on his part be in isolation. German chancellor Angela Merkel signaled this week that she is in favor of Turkish EU membership. Ankara, despite currently riding an economic boom, will be looking closely to see if the French rejectionist attitude of former president Nicolas Sarkozy has changed under Francois Hollande. Both Cypriot reunion and EU membership for Turkey are projects that will demand time, care and infinite patience. However, both make overwhelming political and economic sense. Anastasiades has the opportunity to lay the foundations for peace and prosperity. There are thorny issues around the restitution of property lost on both sides of the island at partition in 1974, when the Turks intervened militarily. It remains to be seen how quickly the Turkish and Greek communities will reintegrate. It is certain that the loss of bilingual citizens will hamper the process. Moreover, there will be financial losers on both sides among families. Nevertheless, in the end, the benefits of reunion will far outweigh the downsides. As and when Turkey assumes its place as one of the EU's most dynamic economies, it will be a complete nonsense to have the Turkish Republic of Northern Cyprus still marooned in political and economic limbo. Now is the time for the healing process to begin. Anastasiades is starting with a mandate for economic recovery. He should display the vision and statesmanship to expand this agenda to set re-unification in train.
