U.N. Secretary-General Ban Ki-moon said after talks that "serious differences" remain between the Greek and Turkish Cypriot leaders over how to reunite their divided island.

Ban Ki-moon stressed that he will decide on the future of the U.N. peace initiative after a new meeting in Geneva in January with Greek Cypriot President Dimitris Christofias and Turkish Cypriot President Derviþ Eroðlu.

Christofias, Eroðlu and Ban held talks at the U.N. headquarters in a bid to break deadlock over the island, which has been split since 1974.

"Both leaders have told me they recognize the need to move more quickly and decisively in order to reach a settlement. Serious differences remain, but both leaders expressed their commitment to work together, as partners, toward that goal," Ban told reporters.

Ban Ki-moon said that when he visited Cyprus this year, "I could feel the hope and expectation among people on both sides for a settlement that would finally reunify Cyprus. Real progress was being made in the talks.

"That sense of anticipation has faded, however, as talks continued throughout the remainder of the year without clear progress or a clear end in sight.