- Neither the Government nor the Governmental Departments have taken the steps necessary to ensure an optimistic approach to the issue. For instance, very little, if any, preparatory work has been conducted;
- Generally, the view has been taken that Cyprus must become a member of the EU under any circumstances and that the island's accession would be considered a great victory, irrespective of what type of agreement is signed or what considerations are to be received;
- Most importantly, many people in Cyprus share the idea projected that accession to the EU will act as a 'panacea' and resolve automatically not only the Cyprus problem but also each and every one of all other problems.
Cyprus' accession to the EU could also create a dilemma for the Cyprus economy in that the offshore sector could seriously be at risk. However, this can be avoided if a policy is adopted and implemented, thus safeguarding this lucrative sector.
This policy must provide for:
- the preparation of carefully designed strategy setting out a short term and long term plan in respect of each important sector of the economy likely to be affected by accession, that is, agriculture, industry and services. This strategy should incorporate the findings of a comprehensive study and detail full arguments along with the minimum and maximum demands in relation to each step of the process;
- one of the ultimate aims of the strategy must be to ensure that the offshore regime in Cyprus is preserved, protected and safeguarded;
- the full and active participation of not only various Government Departments but also of all of those who contribute towards the island's economy, through and in conjunction with the relevant professional bodies, trade unions and associations.
In any event, it is absolutely essential for a careful scientific study to be undertaken of the developments taking place currently in Europe, with a view to formulating a strong and effective stance during the accession negotiations.
Above all else, it is imperative that Cyprus should stand firm and not kneel and unconditionally surrender for the sake of gaining entry to the EU.
Cyprus is a European country and has achieved a great deal in the international arena from the activities of its offshore companies and in spite of its political problem, it has illustrated that it is capable of continuing with the impressive development and progress made to date, even though outside the EU. No one can seriously contest that some other islands of the Mediterranean, such as Sardinia, Sicily or Crete have a better record or are more successful because they are in the EU. Cyprus has proved to be far more successful and reputable, and the island is in a much more favourable position probably due to the fact that it is and continues to be an offshore centre.
In conclusion, it is about time that all the factors surrounding Cyprus' accession are made known to the people of Cyprus. It is about time for a serious study to be undertaken and for the forces of all relevant interested parties and lobbies to join in an effort to achieve the best possible results.
CAUTION: The information in this article is subject to change without notice. Application of the information to specific circumstances requires the advice of lawyers who must rely upon their own sources of information before providing advice. The information in this article is intended only as a general guide and is not to be relied upon as the sole basis for any decision without verification from reliable professional sources familiar with the particular circumstances and the applicable laws in force at that time.
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