Just a few years ago, Cyprus was considered a wealthy country, though that referred mostly to the Greek Cypriots on the southern part of the divided island. When Cyprus entered the eurozone in 2008, analysts were wondering what would become of the much poorer north, which has been occupied by Turkey since a 1974 war.
Now, the Turks in northern Cyprus have the booming economy, while Greek Cypriots, crippled by exposure to ailing Greek banks, are waiting for final approval on what will be the fourth sovereign bailout of a eurozone country.
After Turkey invaded Cyprus nearly four decades ago, Greek Cypriot families in the north fled their homes and relocated in the south — which is now an independent nation in the European Union.
Turkish Cypriots went to the north, which Turkey continues to occupy. Because of embargoes and isolation, Turkish Cypriots were cut off from the rest of the world and became dependent on aid from Turkey.
Enlarge Joanna Kakissis/NPR
Fikri Toros, a Turkish Cypriot businessman, says his family's company struggled for years because of embargoes and a weak Turkish lira. But its fortunes have improved with Turkey's economy.