REPORT: Major Cyprus Bank Has Only A Few Hours Of Liquidity Left, And Is Limiting Cash Withdrawals

Cyprus Popular Bank has "enough liquidity to cover the next few hours," reports Bloomberg citing an unnamed government official.

Reuters' Luke Baker reports that the bank has announced a 260 euro limit on ATM withdrawals.

Cyprus' banks have been closed since Saturday's announcement that a bank bailout out deal could include levies on depositors.

In the mean time, Cypriot citizens have been lining up at ATMs to withdraw as much cash as they can.

Cypriot leaders are scrambling to figure out a way to raise way to raise money to buoy its troubled financial system. But every new iteration has been falling apart.