At the last minute, a bailout agreement to save Cyprus from bankruptcy was reached. But the measures agreed mean difficult times ahead - for both the Cypriot population and the country's banks.
Italy's banks struggle with bad loans and the state itself is saddled with massive debt — but the voters don't seem to care, and the finance minister is demonstratively relaxed about it all.
Incumbent Nicos Anastasiades has defeated leftist challenger Stavros Malas, claiming 59.6 percent of the vote. State television has reported that Malas conceded defeat around an hour after polls closed.
Just a week after UN-led talks broke down between Cyprus and Turkey to end a bitter 40-year division on the island, Ankara and Nicosia are once again at loggerheads. This time, the dispute centers around energy sources.
Greek Cyprus leader Nicos Anastasiades has announced a presidential bid for the January 2018 election, pledging to revive reunification talks that collapsed in July. Anastasiades promised he would not seek a third term.
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