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Conserative candidate wins Cyprus election

Menelaos Hadjicostis, Associated Press

Opposition party leader and presidential candidate Nicos Anastasiades votes with his grandson Andis, in the Presidential election in southern port city of Limassol, Cyprus, Sunday, Feb. 24, 2013. Faced with the specter of financial meltdown, Cypriots are choosing a new president with the conservative candidate favored to win over his left-wing rival in a runoff vote Sunday.(AP Photo/Petros Karadjias)

NICOSIA, Cyprus (AP) -- Final results show that conservative candidate Nicos Anastasiades has won Cyprus' presidential runoff election by one of the widest margins in 30 years.

According to the Interior Ministry's website, with all the votes counted, Anastasiades had won 57.48 percent of the ballots, far ahead of left-wing rival Stavros Malas, who had 42.51 percent of the vote.

Cypriots are choosing their leader at a critical time.

Their country faces the specter of financial meltdown, and the new president will be under pressure to quickly finalize a financial rescue package with the eurozone's other 16 countries and the International Monetary Fund.