The deep dismay expressed by the US and the EU in the result of the referendum in Cyprus is presumably not simply a reflection of their sadness at the failure in seeing Cyprus ‘reunited’. Instead it would seem that their upset was caused by the loss of a very real business opportunity, the redevelopment of the occupied area. Had the result been different, US and EU contractors would have poured into Cyprus (much as they have in shattered Iraq) to build new hotels in the north of the island. An even more lucrative venture would of course be the demolition of much of the ghost town of Varosi and the complete rebuilding of the town. Business interests it would seem have now had their hopes dashed. Nevertheless why should this still not happen? Given that UN resolution 550 (1984) calls for the Varosi area to be transferred to the administration of the UN and for its inhabitants to return, would it not be sensible now for this resolution to be implemented immediately? US and EU interests in redeveloping the town could begin in earnest whilst this move would go a long way to reassuring Greek Cypriots that Turkey is serious in its intentions to resolve the Cyprus issue.