Thursday Jul 31, 2014 Search
Weather | Athens
32o C
25o 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)  
Civil mobilization order issued in Jan 2013 lifted for public transport
Tax official, accountant caught bribing 80-year-old over business closure
Disgraced ex-hospital director arrested after armed altercation with son
Roma man shot dead in Thessaloniki had long criminal record, says police
Russia may restrict Greek fruit imports
Russia may impose new food import restrictions next week, reports said on Thursday, in what could be responses to new Western sanctions over Moscow's support of rebels in Ukraine. The countr...
Greek retail sales drop 3.8 pct y/y in May
Greek retail sales by volume fell 3.8 percent in May compared to the same month last year, after a downwardly revised 7.1 percent rise in April, statistics service ELSTAT said on Thursday. A...
Inside Business
SOCCER
Goalless draw at Liege puts Greens in driving seat
Panathinaikos got the upper hand in the battle for entry to the Champions League playoffs after snatching a goalless draw at Standard Liege on Wednesday. If anything, the Greek cup holders m...
SOCCER
Greek league recruits former referee Dallas
Former referee Hugh Dallas has been appointed as the head referee of the Greek Super League, the Hellenic Football Federation (EPO) said in a statement on Wednesday. The 56-year-old Scot ear...
Inside Sports
COMMENTARY
Summer turbulence
High summer temperatures appear to have messed with the reflexes of officials at the top echelons of Greeces power-sharing administration. A sense of anxiety has gripped the political syste...
EDITORIAL
Capital upgrade
After years of financial troubles, the city of Athens is finally buzzing with tourists. Despite some encouraging figures however, the Greek capital has not quite managed to become a destinat...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Civil mobilization order issued in Jan 2013 lifted for public transport
2. Tax official, accountant caught bribing 80-year-old over business closure
3. Disgraced ex-hospital director arrested after armed altercation with son
4. Roma man shot dead in Thessaloniki had long criminal record, says police
5. Cyber Crime unit helps avert suicide of young man
6. Employee of firm tasked with destroying contraband caught stealing it
more news
Today
This Week
1. Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
2. Euro flows reveal shift in sentiment as losses mount
3. EU puzzles over emergency funds for euro area bank crisis agency
4. Greece may ignore EU and lower energy costs for business, says minister
5. Only 5 percent of stores see brisker business during this year's summer sales
6. Fake psychic caught in Thessaloniki after gaining 35,000 from victim
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
3. Defense Minister Avramopoulos to represent Greece at European Commission
4. Wine cup used by Pericles found in grave north of Athens
5. Front-line threats
6. Greece names fifth privatization agency chief in four years
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.