Cyprus' new president, Nicos Anastasiades celebrates victory (photo:dpa)

Cyprus election winner could ease eurozone financial tensions

Cypriot voters gave conservative Nicos Anastasiades a landslide victory and with it a mandate to resolve Cyprus’ economic problems. His new ministerial team is likely to encourage his eurozone partners to support plans for the island’s 17.5 billion euros rescue package and the introduction of austerity and privatisation measures to pay back the loan.

EUROZONE leaders hailed with relief the election of veteran rightwing politician Nicos Anastasiades as the new President of Cyprus.

He is a politician with a majority who wants to conclude a deal on the eurozone’s next rescue package - an austerity programme in exchange for a 17.5 billion euros bailout.

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 Costas Iordanidis
ECB board member Joerg Asmussen warned in January 2013 that Cyprus’ economic problems may derail the entire eurozone
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