Kerry says peace in reach as hopes for Cyprus deal rise

Both are committed to a deal, as are Greece and Turkey.

[...] newly discovered gas deposits in the Mediterranean could mean a windfall for both if the two sides reunify.

Among the thorniest issues remaining include the division of powers between the federal government and the two states, what to do about private property lost by individuals on each side and how to share the country's economic wealth — including its offshore oil and gas resources.

Reporting progress last week, the U.N. envoy to Cyprus, Espen Barthe Eide, said leaders were confident they could resolve all outstanding issues.

Peace could help stabilize the eastern Mediterranean, a region that includes unstable Lebanon, Syria and Egypt and the persistent Israeli-Palestinian conflict.

After attending a basketball game between teams of teenagers from each part of Cyprus, Kerry lauded Anastasiades and Akinci for working really hard for peace and making the tough and creative compromises that this moment demands.

The top American diplomat said a lasting settlement would bring foreign investment and economic growth to a place hit hard by financial instability.