The high-profile and fragile deal of the Great Sea Interconnector was at the top of the agenda of talks between the Greek PM Kyriakos Mitsotakis and the President of the Republic of Cyprus Nikos Christodoulides, who met at the Maximos Mansion in Athens on Thursday morning.
Speaking before the cameras, the Greek PM said Nicosia and Athens were coordinating their actions on the Cypriot issue in the wake of the UN Security Council Assembly.
On his part, the head of the Cypriot state underlined that the current state of affairs is not conducive to a viable solution to the Cypriot problem. He continued, “I am confident that through the resolution of the Cyprus issue and the full normalization of Greek-Turkish relations, we will contribute even more to what Greece and Cyprus, Cyprus and Greece, demonstrate to be: pillars of security and stability in this region of significant geostrategic importance.”
The meeting takes place two days after the crucial cabinet session in Cyprus, and all possibilities remain open regarding the potential achievement of a final agreement to move the project forward.
Two issues are considered “red lines” for Greece, and without alignment between the two sides, no final agreement will be reached. The first concerns a decision by the Cypriot government to invest €100 million in the cable project, as previously agreed.
Additionally, according to officials from the Greek government, the cabinet document from Tuesday indicates that Cyprus’ participation will be decided in December after the European Investment Bank evaluates the project’s cost-benefit analysis (CBA).
The delay in making this decision regarding the Great Sea Interconnector is interpreted by Athens as Cyprus questioning the project’s usefulness, signaling a reluctance to continue.
