History of Cyprus since 1878 proclaimed Cyprus the Crown colony of British Cyprus in 1925, under an undemocratic constitution. International recognition of the new Republic of Turkey resulted from the Treaty of Lausanne in 1923 in which the new Turkish government formally recognised Britain's sovereignty over Cyprus (article 20). The administration was reformed in the latter 1920s, and some members of the Legislative Council (established 1926) were elected by the Cypriots, but their participation was very marginal. The Legislative Council was abolished in 1931. Greek Cypriots believed the circumstances were right to demand union of the island with Greece (enosis), as many of the Aegean
Economic history of Greece and the Greek world in which Greece still excels. Today, the Greek merchant marine comes third globally both in the number of ships owned and in tonnage, and at times in the 90s Greece was first. Greece is fifth in terms of registration, the reason for this is a number of Greek captains register their ships under the Cypriot flag, which is easy due to linguistic and cultural commonalities, and significantly where there are lower taxes. In terms of registration, Cyprus has the third largest merchant fleet, and the majority of these ships are actually owned by Greeks, but sailing under the Cypriot flag