Friday February 27, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus socialists sit on fence in runoff vote

Cyprus's socialist party sat on the fence on Tuesday for upcoming elections closely watched by investors as the island teeters on the brink of default, saying it could not back either candidate in a presidential runoff scheduled for February 24.

Sunday's vote pits Nicos Anastasiades, a conservative in favor of a swift bailout deal with international lenders, against Communist-backed Stavros Malas, who supports a bailout but with fewer austerity measures.

Both must lure more voters from the political centre to get ahead, even though Anastasiades is a clear favorite with an 18-point lead over Malas.

EDEK, the small socialist party which supported third-placed independent George Lillikas who gleaned 25 percent of the Feb 17 vote, said it wouldn't back either remaining candidate.

"The positions (of the party) ... do not permit it to position itself in favor of a candidate in the second round of the presidential elections,» EDEK spokesman Demetris Papadakis said.

Papadakis said it was a unanimous decision of party members which would be put to EDEK's decision-making committee scheduled to meet on Thursday.

Investors are closely watching Sunday's vote, worried that continued delays in Cyprus clinching a desperately needed financial bailout could trigger further economic turmoil in the eurozone periphery just as it was beginning to recover.

The island's bid for international financial support, made eight months ago, has been delayed by an incumbent leftist government slow to negotiate bailout terms, worries by lenders over the island assuming a mountain of debt it may not be able to afford to repay and German charges that Cypriots are lax on tackling money-laundering.

Cyprus sought aid after its banks suffered huge losses on exposure to a restructuring of Greek sovereign debt, and difficulties in accessing international capital markets shut to it because of fiscal slippage since mid-2011.

Positions of both candidates, Papadakis said, were not «in alignment» with the positions of EDEK. He did not elaborate.

EDEK, which has a support base of 9 percent based on the 2011 parliamentary election results, is the only party officially supporting Lillikas. His remaining support base is thought to come primarily from dissidents within the centrist Democratic Party, which officially supports Anastasiades.

Lillikas, who has said he would announce his own decision on whether to back a candidate on Friday, has been critical that terms of a bailout deal now under discussion with the European Union and the International Monetary Fund could be too harsh.

Under its outgoing Communist government, which now backs Malas, Cyprus has introduced public sector pay and benefits cuts along with tax increases in anticipation of a bailout.

Incumbent President Demetris Christofias, elected in 2008, is not seeking a second term.

[Reuters]

ekathimerini.com , Wednesday February 20, 2013 (12:45)  
Gov’t raises concern over payment to IMF in March
More than 300 migrants released
Charges faced by ex-minister ‘have expired,’ legal expert says
After facing down SYRIZA MPs, Greek PM mulls bringing deal to Parliament
Minister says he hopes that ENFIA ends
Minister of State for Coordinating Government Operations Alekos Flambouraris stated on Thursday that he believes the Single Property Tax (ENFIA) will be replaced by a large property tax, giv...
Postponing an IMF tranche ‘means default’
The possibility of Greece postponing the repayment of any debt tranches to the International Monetary Fund is seen as “exceptionally complicated” with “many obstacles,” according to official...
Inside Business
SOCCER
Ten-man Olympiakos couldn´t overcome Dnipro
Olympiakos drew 2-2 with Dnipro from Ukraine at home on Thursday, playing almost the entire second half with a man down, to bow out of the Europa League, despite facing an opponent which on ...
BASKETBALL
Greens lose at Maccabi but preserve head-to-head advantage
Panathinaikos suffered its third loss in eight games at the second stage of the Euroleague going down 73-70 at Maccabi Tel Aviv on Thursday, but has preserved its better head-to-head record ...
Inside Sports
COMMENTARY
A breath of opportunity
We are still living in the Greece we know: The government is struggling to explain its retreat in the face of our creditors, the opposition (including dissidents in SYRIZA) smells blood, we ...
ANALYSIS
Having it both ways: Greece´s doublespeak to Brussels and voters
Gingerly treading between its anti-austerity promises to voters and its pledges to skeptical international creditors, Greece's new radical government is resorting to doublespeak to keep ever...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Ten-man Olympiakos couldn´t overcome Dnipro
2. Greens lose at Maccabi but preserve head-to-head advantage
3. Minister says he hopes that ENFIA ends
4. Postponing an IMF tranche ‘means default’
5. Stournaras says deal must be completed
6. Panathinaikos deducted the three points earned at the derby
more news
Today
This Week
1. The unlikely winners of Greece's surrender on euro
2. SYRIZA feeling the pain
3. Turkish jets violate Greek air space
4. Schaeuble tells MPs Varoufakis 'strains' EU solidarity
5. Merkel faces stepped-up dissent on Greek bailout among lawmakers
6. Greek bank deposits return after bailout extension
Today
This Week
1. Greece prepares extension request for eurozone approval
2. Time for Alexis Tsipras to keep his nerve
3. Stubborn but not almighty
4. Greek bailout deal faces review by euro officials next week
5. Greece says eurozone deal won time as cash bled from banks
6. The ignorance of the West about the culture of Islam
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.