NICOSIA, Cyprus (AP) — Battered by a debt crisis, a leadership vacuum and facing near-empty coffers, Cyprus is holding a presidential runoff Sunday, a vote that conservative Nicos Anastasiades is expected to win handily.
Anastasiades, the 66-year-old leader of the Democratic Rally party, is going to have to act fast once he does get in office, quickly securing a financial rescue package so his country can avoid a bankruptcy that would trigger more turmoil among the 17 nations that use the euro.
Last year the country was forced to seek financial assistance of as much as €17 billion ($22.7 billion) — roughly equivalent to its annual gross domestic product — from the other eurozone partners and the International Monetary Fund after its banks lost billions on bad Greek debt.
Malas, who served as health minister in Christofias' government, says he will fight to improve bailout terms to protect the less well-off and accuses Anastasiades of kowtowing to European leaders.
Anastasiades, the 66-year-old leader of the Democratic Rally party, is going to have to act fast once he does get in office, quickly securing a financial rescue package so his country can avoid a bankruptcy that would trigger more turmoil among the 17 nations that use the euro.
Last year the country was forced to seek financial assistance of as much as €17 billion ($22.7 billion) — roughly equivalent to its annual gross domestic product — from the other eurozone partners and the International Monetary Fund after its banks lost billions on bad Greek debt.
Malas, who served as health minister in Christofias' government, says he will fight to improve bailout terms to protect the less well-off and accuses Anastasiades of kowtowing to European leaders.
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