[00:58.99]However no one is under any illusion that the new president will enjoy a honeymoon in period.
[01:03.92]He is due to go on trial at the ICC in the Hague in relation to the violence that followed the 2007 election.
[01:11.20]Large savers at the Bank of Cyprus, the country’s biggest commercial lender,
[01:15.96]could see as much as 60% of their deposits wiped out as the result of the European bailout deal.
[01:22.28]The Central Bank has confirmed the figure which is higher than previously thought.
[01:26.36]People with more than 100,000 Euros will have 37.5% of their savings converted into near worthless shares.
[01:34.25]Another 22.5% of their funds will be frozen without interest.
[01:39.18]Italy’s President Giorgio Napolitano has crushed speculation that he might resign, saying he will remain in office until his mandate ends in May.
[01:49.33]Mr. Napolitano also announced this establishment of two working groups which will examine ways to form a government.
[01:55.82]He's been trying to broker a compromise between the major parties following last month’s inconclusive general election.
[02:02.49]Alan Johnston reports.
[02:04.48]All through Friday President Napolitano held talks with the major political factions but no progress was made.
[02:12.59]And overnight there was intense speculation that the president might step down but he's ruled that out.