Confusion Over Cyprus' Bailout Funding Grows
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There was widespread confusion over the funding of Cyprus' bailout on Friday morning, as media reports suggested the country had asked for a further 10 billion euros of aid.
Dow Jones reported that Cypriot President Nikos Anastasiades would ask for "extra assistance" from the European Union (EU), a report quickly denied by the Cyprus finance ministry which said the president was referring to technical and structural aid.
The president of the euro group, Jeroen Djisselbloem, suggested to CNBC that Cyprus would get some kind of additional aid.
"That is up to the Cypriot government, and the European Commission has said that they will do everything it can to help, also making available European funds where possible," he said.
Euro zone officials quickly dismissed the notion that Cyprus could receive more than the agreed 10 billion euro bailout but Reuters reported the aid would be structural funds to help the economy through its recession.
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