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WCO, WEU (observer affiliate), WFTU, WHO, WIPO, WMO, WToO, WTO Diplomatic representation in the US: chief of mission: Ambassador Euripides L. EVRIVIADES chancery: 2211 R Street NW, Washington, DC 20008 FAX: [1] (202) 483-6710 note: representative of the Turkish Cypriot community in the US is Osman ERTUG; office at 1667 K Street NW, Washington, DC; telephone [1] (202) 887-6198 consulate(s): New York consulate(s) general: New York telephone: [1] (202) 462-5772 Diplomatic representation from the US: chief of mission: Ambassador Michael KLOSSON embassy: corner of Metochiou and Ploutarchou Streets, Engomi, 2407 Nicosia mailing address: P. O. Box 24536, 1385 Nikosia telephone: [357] (22) 393939 FAX: [357] (22) 780944 Flag description: white with a copper-colored silhouette of the island (the name Cyprus is derived from the Greek word for copper) above two green crossed olive branches in the center of the flag; the branches symbolize the hope for peace and reconciliation between the Greek and Turkish communities note: the "Turkish Republic of Northern Cyprus" flag has a horizontal red stripe at the top and bottom between which is a red crescent and red star on a white field Economy Cyprus Economy - overview: The Greek Cypriot economy is prosperous but highly susceptible to external shocks. Erratic growth rates over the past decade reflect the economy's vulnerability to swings in tourist arrivals, caused by political instability in the region and fluctuations in economic conditions in Western Europe. Economic policy is focused on meeting the criteria for admission to the EU. EU-driven tax reforms in 2003 have introduced fiscal imbalances, which, coupled with a sluggish tourism sector, have resulted in growing fiscal deficits. As in the Turkish sector, water shortages are a perennial problem; a few desalination plants are now on-line. After 10 years of drought, the country received substantial rainfall from 2001-03, alleviating immediate concerns. The Turkish Cypriot economy has roughly one-third of the per capita GDP of the south. Because it is recognized only by Turkey, it has had much difficulty arranging foreign financing and investment. It remains heavily dependent on agriculture and government service, which together employ about half of the work force. To compensate for the economy's weakness, Turkey provides grants a
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