In the shadow of international isolation, Cyprus’ occupied north is gambling on a high-stakes future: doubling its number of casinos to 64, according to the Financial Times last weekend.
The breakaway region, recognized only by Turkey, has long depended on Ankara’s financial lifeline. But a collapsing Turkish lira and stubborn inflation have left the occupied north reeling, prompting its leadership to lift decades-old limits on casino licenses in June.
Critics warn the move risks cementing the enclave’s reputation as a haven for vice. “We are creating a monster we cannot control,” said economist Mertkan Hamit, who works with the World Bank.
