WEDNESDAY’S breakthrough news about the existence of an estimated 7 trillion cubic feet of natural gas in Cyprus’ Aphrodite field has been met with both excitement and caution by the Cypriot public.
With almost everyone agreeing that the findings will secure the island’s finances and help the economy grow, many stressed the crucial significance of good management and expressed their concerns over the suitability of the people at the top in handling the new-found resource.
“This is great news for the economy and the timing is perfect, considering we are in the middle of a financial crisis” said 29-year-old accountant, Chrysostomos Thoma.
“Reports are going round that we will now have free fuel for our cars and that the VAT will be scrapped and it sounds great” he said.
Eleni Emiliou, a 42-year-old civil-servant said that she hoped this would lead to tax exemptions and the increase of benefits for employees.
Costas Charalambous, a 60-year-old kiosk owner in down-town Nicosia said that foreign investment would swamp the island, creating new jobs and opportunities for employment.
“This is definitely a positive development for the Cypriot economy but I’m not so sure everyone will benefit because as usual the selected few will accumulate wealth while the rest of the population will be scrapping for the crumbs” said Charalambous.
“I have no faith in the capabilities of the current administration to handle the issue properly and whether the standard of living will rise for everyone depends predominantly on how the government handles the situation” said Demetris Lazarou, a 30-year-old shop manager.
Marios Vassiliou, a post-graduate economics student said that the government should study the different models applied in other countries abroad and expressed his hope that a prudent approach is chosen.
“Norway, in contrast to Britain, has been excellent in managing their oil reserves, with the vast majority of its profits going to investment funds, so as to secure the fate of future generations” he said.
Citizens also recognised the possible political impact of discovering natural gas in Cyprus’ Exclusive Economic Zone (EEZ).
“Finding natural gas has huge ramifications for the geopolitical importance of Cyprus, but massive concerns now arise about the attitude of Turkey” said Paschalis Onoufriou, a 55-year-old businessman.
“The discovery of natural gas constitutes a defeat for Turkey and its diplomatic attitude” said a 71-year-old shopkeeper, Andreas Dalites.
Quizzed on whether he thought a pipeline linking Cyprus’ natural gas with Turkey would be the best solution, Dalites categorically disagreed.
“Turkey has proven over and over again that it cannot be trusted and that it has never curtailed its expansionary tendencies” he said.
Andis Neophytou, a 67-year-old pensioner said that “we need to be cunning and smart for once and use our natural gas as a weapon and a shield by bringing in foreign interests in Cyprus so as to ensure the security of the island from Turkey.”
“Who will actually stop Turkey if it decides to start drilling in one of the fields that have not been allocated yet?” asked Demetra Stamati, an accountant.
“If you think the EU or Israel will step in to start world war three over Cyprus without any interests on the island then you are having a laugh” she added.
Lena Malinioti, a 19-year-old student said that the natural gas findings would actually complicate the Cyprus problem peace process.
Her same aged friend Eleni Philippou on the other hand felt that the natural gas could help the Turkish Cypriots desert Turkey and work harder for a solution.
Youth also provided their own perspective, with the vast majority expressing optimism.
Maria Constantinou, a secondary school leaver said that the discovery had changed her outlook towards her future career.
“I haven’t really followed the developments but my parents are saying that this will be the employment of the future, so I’m already considering studying something related to the issue” she said.
Marianna Stavrou, a second year law student said that she was highly intrigued by the new developments.
“I’ve already looked into specialising on corporate law or on legal issues concerning natural gas and oil because everyone is saying it will be Cyprus’ jobs in the future” she said.
“I don’t really know what all this fuss is about, are we going to end up like Qatar and Saudi Arabia?” pondered two 16-year-olds in Bob Marley t-shirts.
Leonidas, a self-professed anarchist said that the rich would get richer, neglecting the underprivileged strata of society.
