Nicos Anastasiades, the centre-right DISY (the Democratic Rally) party leader won the presidential elections of Cyprus on 24 February 2013 with 57.5 percent votes. The term of his office starts from 28 February 2013.
Nicos Anastasiades had a very easy-going victory over Communist-backed Stavros Malas who secured 42.5 percent votes in the election.
Major challenges to be faced by Nicos Anastasiades
The major challenge that would be faced by Nicos Anastasiades is that Cyprus is standing on the verge of bankruptcy because of knock-on effect of the economic despair of Greece. Nicos Anastasiades after winning therefore declared that his first priority would be to reinstate the credibility of Cyprus. For this, he would favour deals with the foreign lenders.
The economy of Cyprus is in recession. Back in July 2012, Cyprus had also asked European Union for bailout in order to shore up the banks. As a result of the bailout deal for Greece as well as restructuring of debts, private bondholders had to suffer losses, resulting in Cyprus’s banks losing 75 percent of the investments.
New president Nicos Anastasiades would be required to finalise the deal with 16 countries which use Euro as the currency as well as with International Monetary Fund (IMF).
The aim of the newly elected president would also be to exploit the immense natural gas, which in turn would bring energy as well as income.
About Nicos Anastasiades
• Nicos Anastasiades is a 66-year old lawyer and a member of the Cyprus’s parliament since 1981.
• He is the leader of centre-right DISY (the Democratic Rally) party since 1997.
• Nicos Anastasiades would be replacing the former President of Cyprus, Dimitris Christofias who served the office from 28 February 2008 and will remain into the designation till the end of his term on 28 February 2013. Dimitris Christofias belonged to the Progressive Party of Working People.
• Presidential elections took place in the Republic of Cyprus on 17 February 2013. None of the candidates received 50 percent of the overall votes from first round. Eventually, a runoff took place on 24 February 2013 where Nicos Anastasiades emerged as the winner.
• The President of the Republic of Cyprus is also known as the head of the state as well as the head of the government of Cyprus.
• The office of the President of Cyprus was formed in 1960 after the country achieved its freedom from the UK.
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