News Summary: Cyprus president to ask EU for help

Cyprus president says he will ask EU to change tack, give more help to debt-crushed country

Associated Press

MORE AID: Cyprus' president said Friday that he will ask the European Union to provide more help for the crisis-hit country, which has to pay for most of its expected 23 billion euro ($30 billion) bailout.

THE MISSIVES: President Nicos Anastasiades said that he will send letters to EU Commission President Jose Manuel Barroso and EU Council chief Herman Van Rompuy telling them of the "need for a change of EU policy" toward Cyprus by offering additional assistance.

INVESTOR WORRIES: News of the letters sparked speculation among investors that the country was pushing for more money from its international creditors — the European Commission, European Central Bank and the International Monetary Fund — under its bailout package.

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