Tagged: European Union (EU)

It's going to cost more to bail out Cyprus than originally projected, with officials now saying the cost will be $30 billion instead of the original estimate of $23 billion.

"It's a fact the memorandum of November talked about 17.5 billion [euros] in financing needs. And it has emerged this figure has become 23 billion [euros]," government spokesman Christos Stylianides was quoted by the BBC as saying on Thursday.

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SCOTT SIMON, HOST:

On the second day since Cyprus reopened its banks, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.