Senior Correspondent, Greece
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Feb 24, 2013

After election win, Anastasiades faces Cyprus bailout quagmire

NICOSIA, Feb 25 (Reuters) – Cypriot president-elect Nicos
Anastasiades faces weeks of difficult talks with foreign lenders
on a financial rescue for the island nation after sweeping to a
resounding victory in a run-off election on Sunday.

Eight months of inconclusive talks on a bailout package have
turned tiny Cyprus into a big headache for the euro zone,
triggering fears of a financial collapse that reignites the
bloc’s debt crisis.

Feb 24, 2013

Cyprus votes for president as clock ticks on bailout deal

NICOSIA, Feb 24 (Reuters) – Cypriots voted on Sunday in a
runoff to elect a president who must clinch a bailout deal
before the island nation plunges into a financial meltdown that
would revive the euro zone debt crisis.

Conservative leader Nicos Anastasiades, who favours
hammering out a quick deal with foreign lenders, is tipped to
win against Communist-backed rival Stavros Malas, who is more
wary of the austerity terms accompanying any rescue.

Feb 22, 2013

In Cyprus port, Russian money flows freely

LIMASSOL, Cyprus, Feb 22 (Reuters) – In this seaside Cypriot
town, an image of the Kremlin’s onion domes adorns the doors of
a local mini-market, Ferraris stand ready for hire by wealthy
Russians and shops selling mink coats line streets drenched in
warm Mediterranean sunshine.

Home to over 30,000 Russians who began flocking to Cyprus
after the Soviet Union’s collapse and catering to many more
tourists each year, locals jokingly refer to the town, complete
with Russian signs and schools, as “Limassolgrad”.

Feb 21, 2013

Cyprus election favourite in talks to secure bridge loan

NICOSIA, Feb 21 (Reuters) – The frontrunner in Cyprus’s
presidential election runoff said on Thursday he has been in
touch with governments and unspecified funds for a bridge loan
to ensure the island nation does not run out of cash before it
secures an international bailout.

Conservative leader Nicos Anastasiades, who polled over 45
percent in last Sunday’s first voting round and is the favourite
to win the Feb. 24 runoff, told Reuters various parties,
including “governments and funds” which he did not identify, had
been “sounded out” for a short-term loan.

Feb 17, 2013

Cypriot candidates woo kingmaker for election run-off

NICOSIA, Feb 18 (Reuters) – Cypriot political leaders begin
a week of bargaining on Monday after the first round of a
presidential election failed to produce an outright winner to
steer the island nation through its worst financial crisis in
four decades.

Conservative leader Nicos Anastasiades, who backs a swift
deal with EU and IMF lenders on a bailout to avert a Cypriot
bankruptcy, won Sunday’s vote but fell short of the absolute
majority needed to avoid a run-off on Feb 24. He faces
Communist-backed Stavros Malas in that round.

Feb 17, 2013

Cyprus conservative wins first round of presidential vote, faces runoff

NICOSIA, Feb 17 (Reuters) – Conservative leader Nicos
Anastasiades easily won the first round in Cyprus’s presidential
elections but failed to avoid a runoff vote, reflecting deep
divisions among Cypriots on a bailout deal to save the island
nation from bankruptcy.

A financial crash in Cyprus could reignite the euro zone
debt crisis and investors are keen to see Anastasiades, the
strongest advocate of an international rescue, clinch victory
and secure a bailout, even though that too, has its drawbacks.

Feb 17, 2013

Cypriot conservative chief leads in vote, faces runoff

NICOSIA (Reuters) – Conservative leader Nicos Anastasiades grabbed a commanding lead in Cyprus’s presidential election but failed to avoid a run-off next week, in a setback to investor hopes for a swift deal to save the island nation from bankruptcy.

A financial crash in Cyprus could reignite the euro zone debt crisis and investors are keen to see Anastasiades, the strongest advocate of an international rescue deal likely to come with harsh conditions, clinch victory and secure a bailout.

Feb 17, 2013

Cypriot conservative chief grabs lead in election: exit poll

NICOSIA (Reuters) – Conservative leader Nicos Anastasiades has grabbed a commanding lead in Cyprus’s presidential election and may be able to avoid a run-off, exit polls showed on Sunday, boosting investors’ hopes for a swift deal to save the island from bankruptcy.

A financial crash in Cyprus could reignite the euro zone debt crisis and investors are keen to see Anastasiades, the strongest advocate of an international rescue deal likely to come with harsh conditions, clinch victory and secure a bailout.

Feb 17, 2013

Cyprus votes for leader to steer it past financial storm

NICOSIA (Reuters) – Cypriots went to the polls on Sunday to elect a president who must negotiate a financial rescue to save the island country from a bankruptcy that would reignite the euro zone debt crisis.

The eastern Mediterranean nation’s worst economic crisis in four decades eclipsed its almost four-decade-old partition as the main issue in this year’s election, which conservative leader Nicos Anastasiades was tipped to win.

Feb 13, 2013

Analysis: Cyprus rescue may set unwelcome euro zone precedent

ATHENS/NICOSIA (Reuters) – Cyprus hardly seems to have the sort of debt crisis that could provoke a domino effect across the euro zone; its economy is tiny and the bloc’s financial exposure to the island is modest.

Nevertheless, Cyprus is fast becoming a risk for efforts to tackle problems in the euro zone’s much larger economies because almost any way of solving the crisis – from restructuring its debts to imposing losses on banks – is likely to set a precedent for other troubled states.