Triumph ... newly elected Cypriot President Nicos Anastasiades acknowledges supporters in Nicosia on Sunday. Photo: Reuters
NICOSIA: Right-winger Nicos Anastasiades has romped to victory in Cyprus's presidential vote, pledging to secure an "earliest possible" bailout for the financially crippled EU state and winning support from the European Commission chief.
Replacing the only communist president in the European Union, the leader of the right-wing Disy party won 57.5 per cent of the vote in a second-round run-off against communist-backed Stavros Malas, who polled 42.5 per cent, final results showed.
"We intend to discuss and co-operate ... with our European partners so as to achieve the earliest possible completion of the MoU [bailout] agreement in a manner that safeguards vulnerable groups, social cohesion and peaceful labour relations," he said in a victory address on Sunday.
Disy spokesman Tassos Mitsopoulos said Mr Anastasiades had been given "a clear and strong mandate to battle for Cyprus", in upcoming negotiations with Brussels over the terms of an estimated 17 billion euro ($A22 billion) bailout package.
The result sparked instant celebrations as a large flag-waving crowd gathered outside the winner's Nicosia headquarters and supporters honked car horns and set off firecrackers across the capital.
The 66-year-old, who takes over at the end of the month, said during his campaign he will accept harsh measures required to secure a bailout from the eurozone and IMF, while Mr Malas campaigned on a pro-bailout but anti-austerity ticket.
"The Cypriot people have given Mr Anastasiades a strong mandate to implement his program of reform and to do what it takes to ensure fiscal and financial sustainability," European Commission chief Jose Manuel Barroso said in a statement.
The vote came against a backdrop of grim economic news, with the European Commission predicting the Cyprus economy will shrink 3.5 per cent in 2013 after a 2.3 per cent contraction last year.
It said the economy would continue to shrink until 2016.
Unemployment reached 14.7 per cent in January, having more than doubled over the previous 18 months as recession crippled the construction and service industries.