Michele's Feed
Feb 17, 2013

From “Nasty” to “Nice Nick”, Anastasiades close to becoming Cyprus president

NICOSIA (Reuters) – Conservative chief Nicos Anastasiades’s first round victory in Cyprus’s presidential elections on Sunday marks a stunning comeback for a veteran politician whose career was almost destroyed by a political gamble in 2004.

A sharp and rousing public speaker who pulls no punches, Anastasiades, 66, faces a runoff vote next week against leftist rival Stavros Malas.

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, Feb 17 (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 17, 2013

Cyprus goes to polls to elect president to seal bailout deal

NICOSIA (Reuters) – Cypriots went to the polls on Sunday to elect a president who will have to take responsibility for negotiating a financial rescue to save the small island nation from a bankruptcy that would reignite the euro zone debt crisis.

Cyprus’ worst economic crisis in four decades has blown away the island’s divided status as the main issue in this year’s elections, which conservative leader Nicos Anastasiades is tipped to win.

Feb 16, 2013

Cyprus elects president tasked with sealing bailout

NICOSIA (Reuters) – Cypriots vote on Sunday to elect a president tasked with negotiating a financial rescue to save the small island nation from a bankruptcy that would reignite the euro zone debt crisis.

Cyprus’s worst economic crisis in four decades has blown away the island’s divided status as the main issue in this year’s elections, which conservative leader Nicos Anastasiades is tipped to win.

Feb 15, 2013

Cyprus election contenders tap gas reserve potential

NICOSIA, Feb 15 (Reuters) – Huge untapped gas deposits
almost 20,000 feet below the surface of the Levantine Sea could
be a life-changer for debt-crippled Cyprus and candidates in
Sunday’s presidential election are rushing to reap political
gains.

Experts believe Cyprus, a novice in the energy sector, could
be potentially sitting on hydrocarbons worth up to $400 billion.
That would dwarf a 17.5 billion euro financial bailout under
discussion with international lenders.

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.

Feb 13, 2013

Cyprus rescue may set unwelcome euro zone precedent

ATHENS/NICOSIA, Feb 13 (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 investment from
the rest of the bloc is modest.

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

Feb 8, 2013

Cyprus presidential candidate wary of bailout terms

NICOSIA (Reuters) – One of the three leading candidates for the presidency of Cyprus in February 17 elections says he would press for renegotiation of a financial bailout, and that outsiders should have no say in how the island manages natural gas finds.

George Lillikas, whom opinion polls put third in the race, said that by securitizing the undersea gas reserves, Cyprus could swiftly extricate itself from onerous terms of aid now under discussion with the European Union and the International Monetary Fund.