Decisive win for Cypriot Conservative

Conservative candidate Nicos Anastasiades became president of Cyprus yesterday by one of the widest margins in 30 years and now faces the formidable task of preventing the country from suffering a financial meltdown.

Anastasiades, 66, won the runoff election with 57.48 per cent of the vote, far ahead of left-wing rival Stavros Malas, who took 42.51 per cent, final results showed.

The election comes as Cyprus is negotiating a financial rescue package with the eurozone’s other 16 countries and the International Monetary Fund.

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The wide margin of victory in favour of Anastasiades indicates Cypriots are prepared, to a degree, to stomach what could be painful austerity measures as well as a snub to left-wing rule that many blame for the problems.

Most Cypriots are aware that there’s little option but to secure outside financial help – which will undoubtedly come with demands for cuts and austerity measures - to end the uncertainty dragging the economy down.