HC Deb 19 May 2004 vol 421 c1083W
Bob Spink

To ask the Secretary of State for Foreign and Commonwealth Affairs if he will make it his policy to ensure that any new plan for the Cyprus problem will not impose a financial burden on the Greek Cypriots that they find unacceptable. [174137]

Mr. MacShane

The Government, EU, UN and international donor community have worked hard to ensure that fears of financial insecurity may not reasonably be adduced as grounds for opposing a comprehensive settlement to the Cyprus problem.

At the European Commission's international donors' conference for Cyprus on 15 April 2004, the international community and the international financial institutions signalled their strong support for the UN Secretary-General's plan. The IMF explained that much of its advice on fiscal and other economic matters had been reflected in the plan, which it would help the parties implement with technical assistance, and—if necessary—balance of payments support. The IMF's considered view was that the Annan Plan was "economically and financially viable", and would deliver a higher rate of growth for the United Cyprus Republic than was likely to be achieved under the status quo. The World Bank also signalled its intention to support implementation of the plan, including to help address income disparities. The EIB and the Council of Europe Development Bank supported this analysis. Representatives from many countries, with the UK to the fore, made financial and political commitments to support the UNSG's proposals.