Cypriots to return to ballot box next month

Bloomberg

Cypriots will return to the ballot box on February 4 to choose a leader who can oversee the Mediterranean island’s economic recovery nearly six years after the country came close to financial collapse.
Incumbent President Nicos Anastasiades, 71, will face Stavros Malas in the runoff after taking 35.5 percent of the vote compared with 30.3 percent for Malas, an independent candidate backed by the leftist Akel party, according to Cypriot Interior Ministry figures. The two men also squared off in the 2013 presidential election that saw Anastasiades elected for a five-year term.
“A re-election of Anastasiades will mean continuity in current economic policy,” said Sofronis Clerides, professor of economics at the University of Cyprus. “Mal-as’s campaign was very careful and avoided big promises, nevertheless, the big question mark is how he will manage his relation with, and dependence on, the Akel party.” Centrist Diko party leader Nikolas Papadopoulos was knocked out of the race after placing third with 25.7 percent. Just under 72 percent of registered voters cast a ballot compared with more than 83 percent in the 2013 election.
Cyprus has gone from a sick patient that came close to shattering the euro area in 2013, when a levy on deposits was imposed and capital controls introduced as part of a 10 billion-euro ($12.4 billion) bailout, to a model of economic adjustment.