Conservative challenger Nicos Anastasiades won Cyprus's presidential election today by one of the widest margins in 30 years.
Communist-backed rival Stavros Malas conceded defeat after the Interior Ministry gave Mr Anastasiades 57.48 per cent to the leftists' 42.51 per cent in run-off voting.
Mr Malas was backed by outgoing President Dimitris Christofias's Akel, which has struggled as EU financiers attempt to impose austerity conditions on a bailout loan.
Cyprus's economy has collapsed because of its close ties to Greece and many blame Akel for poor managing of the financial crisis.
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