Cyprus' Finance Minister Michael Sarris had been in the job for little over a month, but now he's out. The politician quit as the government announced an investigation into Laiki bank, which he used to head.
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.
President Nicos Anastasiades won the first round of voting but failed to garner the 50 percent needed to avoid a runoff. At stake is the future of an island that has been divided for 44 years.
Voting has concluded in a presidential poll in the Republic of Cyprus, with no candidate expected to win outright. The poll comes as Cypriots continue to hope for a resolution of the country's ethnic divisions.
Stricter budget constraints in many member countries have caused the eurozone's combined public deficit drop to levels last seen in 2008. The dip was caused mainly by decreasing government spending, Eurostat reported.
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