In the light of the failure of the UN sponsored talks bet­ween the Greek and Turkish Cypriots to reach a settlement of the Cyprus question, this paper asks whether a settlement in Cyprus is still possible. It starts by looking at the reasons why no agreement has yet been reached. In order fully to understand the crucial issues of sovereignty, the federal nature of any future Cyprus state, the Tre­aty of Guarantee, and the rights of half of the population who were displaced between 1963 and 1974, the paper reviews the history of this conflict. It then looks in detail at the key elements of any future settlement, and the progress made by the UN in the recent talks. The paper discusses a possible model for a settlement that seems to add­ress the essential concerns of the Greek Cypriots, the Turkish Cypri­ots and Turkey. Finally, it discusses briefly how a settlement might be brought about