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Cyprus votes for new president economic crisis

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17-02-2013 | 04:13

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Cyprus votes for new president economic crisis

Cypriots are voting for a new president amid a financial crisis in which the country needs a rescue package from international creditors to stave off bankruptcy.

The change in leadership comes at a crucial juncture for Cyprus as the other 16 countries that use the euro are expected to decide next month on a financial lifeline for the tiny country of less than a million people.

Cyprus is fast running out of money to pay its bills and the new president will have to overcome skepticism from some bailout-weary euro area countries to secure help.

Right-wing opposition leader Nicos Anastasiades has led opinion polls going into Sunday's vote. The top two candidates will go to a runoff a week later if no one gets more than half the votes.

AP

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