Northern Cyprus the rest of the island and divides Nicosia, the island's largest city and capital of both sides. A coup d'état in 1974, performed as part of an attempt to annex the island to Greece, prompted the Turkish invasion of Cyprus. This resulted in the eviction of much of the north's Greek Cypriot population, the flight of Turkish Cypriots from the south, and the partitioning of the island, leading to a unilateral declaration of independence by the North in 1983. Due to its lack of recognition, Northern Cyprus is heavily dependent on Turkey for economic, political and military support. Attempts to
Economy of Cyprus Shiarly, stated that the European Central Bank, European commission and IMF officials are to carry out an in-depth investigation into Cyprus' economy and banking sector to assess the level of funding it requires. The Ministry of Finance rejected the possibility that Cyprus would be forced to undergo the sweeping austerity measures that have caused turbulence in Greece, but admitted that there would be "some negative repercussion". In November 2012 international lenders negotiating a bailout with the Cypriot government have agreed on a key capital ratio for banks and a system for the sector's supervision. Both commercial banks and cooperatives will