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The island has been divided since a Turkish military invasion of the northern part in 1974 and is still guarded by UN troops (Photo: UN)

Cyprus government resigns amid economic woes

Cypriot President Demetris Christofias on Thursday (28 July) dissolved his cabinet amid growing public anger over the handling of Iran-bound ammunition that exploded earlier this month and wiped out the country's main energy plant, triggering market fears that the island nation may be the next in line for a eurozone bailout.

The new 11-member cabinet will be appointed "soon" after consultations with all parties so as to gain "wider acceptance to achieve consensus on economic measures an...

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The island has been divided since a Turkish military invasion of the northern part in 1974 and is still guarded by UN troops (Photo: UN)

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