Conservative candidate and head of the DISY party Nicos Anastasiades, 66, has won Cyprus' presidency by one of the widest margins in 30 years. Taking the reins he will face the task of steering the country out of an economic crisis. The President-elect's spokesman told reporters the win was a clear and strong mandate for change, for reform, and for Cyprus to exit the current vicious circle of crisis.

Anastasiades said: "The elections are over. The problems, however, are far from over and so are the difficulties faced by the people and the country alike.I pledge before all Cypriots, to devote all my efforts to serving the best interests of our country that continues to be tested."

Jubilant supporters gathered outside Anastasiades campaign headquarters in Nicosia and took to the streets waving Greek and Cypriot flags and honking car horns. Anastasiades, who is a lawyer by profession, expressed his appreciation to all fellow candidates in the presidential elections and his AKEL-backed rival Stavros Malas, who got 42.52% of the vote.

The President-elect addressed the nation on Sunday night and said: "The people of Cyprus have sent today a strong message, by voting in favour of stability, unity, credibility and change.

"My first priority is to reinstate Cyprus’ credibility. I am determined to work together with our EU partners and, at the same time, fulfill to the outmost our responsibilities. I am committed to all the necessary measures to steer the country out of the economic crisis and towards a swift exploration and development of our oil and gas reserves.

"My government of national unity, will make all the necessary structural reforms and, through dialogue with our European and international partners will safeguard the longstanding strengths of our economy and serve the desired goal of growth and jobs.

"Cyprus now has a vision with a united front at home, a commitment to decisive action, a close cooperation with our partners, Cypriots will finally have the future they deserve."