News / Europe

Cyprus Votes for President as Financial Bailout Looms

A man votes in the presidential election in southern port city of Limassol, Cyprus, February 24, 2013. A man votes in the presidential election in southern port city of Limassol, Cyprus, February 24, 2013.
x
A man votes in the presidential election in southern port city of Limassol, Cyprus, February 24, 2013.
A man votes in the presidential election in southern port city of Limassol, Cyprus, February 24, 2013.
TEXT SIZE - +
VOA News
Cypriots voted Sunday in a presidential runoff that favors conservative Nicos Anastasiades against his leftist rival, with both candidates having pledged to seek a bailout deal with international lenders to prevent the country's financial meltdown.

Opposition leader Anastasiades won 45 percent of the vote in the first round last week, about 18 percent more than Communist-backed Stavros Malas.

Anastasiades favors a quick deal with foreign creditors, while Malas is more wary of the harsh austerity measures that are usually imposed in exchange for a rescue loan.

Cyprus has been caught in a financial crisis aggravated by the situation in Greece.  

The government is seeking international help because Cypriot banks suffered huge losses from Greece's sovereign debt restructuring.  The island, which has been shut out of international financial markets since May 2011, needs about $22 billion in aid.

Cyprus has been split into an internationally recognized Greek-speaking south and a breakaway Turkish Cypriot north since 1974, when Turkey invaded after a coup by supporters of union with Greece.  

Only the 545,000 eligible voters in the south can vote in the election, but many are expected to cast blank ballots or abstain in protest.

You May Like

Karzai to Discuss Enhancing Defense Ties with India

Afghanistan looking for more military aid as it prepares for withdrawal of NATO forces by next year More

India, China Pledge to Overcome Border Tensions

Indian prime minister and Chinese premier attempt to move past tense standoff in the Himalayas during Delhi talks More

Burmese President Opens US Visit with VOA Town Hall Meeting

Ahead of his meeting with President Obama Monday, Thein Sein answered questions on human rights and economic development in his country More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Video

Video Valley Fever Raises Concerns in California, Arizona

A longstanding health problem in California's Central Valley has worsened in recent years, leading health officials to order the relocation of 3,000 prisoners from two state prisons. But the disease affects much of the population in some rural communities and, Mike O'Sullivan reports, while it often goes unnoticed, it sometimes can be devastating for patients.