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negotiations have been underway, with significant progress attained on the majority of the chapters of the Cyprus problem as a result of the intensive efforts put forward by the two sides in reaching convergences. Furthermore, with the recent agreement on the Joint Declaration of February 11, 2014, an important milestone in the negotiations has been reached, which clearly provides for the broad outline of a solution and the main principles upon which the new partnership will be established. Hence, the announcement of the Joint Declaration triggered a very positive atmosphere that was further fostered by the support of a wide spectrum of actors on both sides as well as the extensive espousal received by the international community. The Far-Reaching Consequences of the Problem In light of this promising political climate on the island, combined with the existence of some external factors that are currently at play, there is an historic opportunity that should not be missed in bringing the long- overdue Cyprus problem to a closure. The recent developments in our region strongly signal a pressing need in this direction. It is beyond doubt that the Cyprus problem holds back the potential of cooperation in a broader context. Since its conception, the relations between Turkey and Greece have been negatively affected by it. A full-scale rapprochement between the two countries has been held hostage to the chronic status quo on the island. In the course of time, this has been exploited as an excuse to oppose Turkey’s bid for EU membership through the blocking of some chapters in her accession talks. EU-NATO strategic cooperation has also been hampered in a similar fashion due to the non-existence of diplomatic relations between South Cyprus and Turkey. As a NATO member, Turkey has proven to be an indispensable strategic partner of the Transatlantic cooperation since the inception of the Cold War. Although a NATO Council decision in late 2002 enabled the participation of the non-EU members of NATO in the European Security and Defense Policy (ESDP), the Greek Cypriot side has been blocking Turkey’s involvement both in the ESDP and her prospective membership in the European Defense Agency (EDA). As a result, no meaningful dialogue can practically be established between the EU and NATO, creating a situation whereby the HOUSE_OVERSIGHT_031584