Governing Council decision on Emergency Liquidity Assistance requested by the Central Bank of Cyprus

Members of Parliament in Cyprus were due to begin voting on a series of bills on the 22 March 2013 that aimed to raise the funds the country needs to secure an international bailout.

The country was seen to be in a race against time after the European Central Bank on the 21 March 2013 gave Cyprus until the 25 March 2013 to find the money.

If it did not, liquidity to the country's banks could be cut off and they could collapse.

Talks on new Russian financial aid for Cyprus had failed, Russia's finance minister confirmed on the 21 March 2013.

• Primary Source

ESO: Background Information: Officials grilled over Cyprus bailout fiasco http://www.europeansources.info/record/officials-grilled-over-cyprus-bailout-fiasco/

BBC News, 22.03.13: Cyprus MPs due to vote on new plan to secure bailout http://www.bbc.co.uk/news/world-europe-21890015

Cyprus: Central Bank of Cyprus http://www.centralbank.gov.cy/

ESO: Background information: Find all further information in ESO on the Cyprus economic and banking crisis http://www.europeansources.info/advSearchLink?keyword=Cyprus%20economic%20bailout%20&searchOption=all

EurActiv, 21.03.13: ECB gives Cyprus until Monday to come up with cash http://www.euractiv.com/euro-finance/ecb-gives-cyprus-monday-come-cas-news-518664

EUObserver, 22.03.13: Cyprus on the brink of euro exit after ECB ultimatum http://euobserver.com/economic/119535

Deutsche Welle, 22.03.13: Waiting for Cyprus' plan B http://www.dw.de/waiting-for-cyprus-plan-b/a-16692014

Spiegel Online International, 21.02.13: Search for 'Plan B': ECB Sets Ultimatum as Cyprus Moves toward Deal http://www.spiegel.de/international/europe/ecb-delivers-ultimatum-to-cyprus-as-bailout-talks-continue-a-890158.html

France24, 21.03.13: European Central Bank issues ultimatum to Cyprus http://www.france24.com/en/20130321-european-central-bank-cyprus-ultimatum

Cyprus Mail, 22.03.13: Eurozone urges Cyprus to propose how to reach bailout http://www.cyprus-mail.com/cyprus/eurozone-urges-cyprus-propose-how-reach-bailout/20130322

Eurogroup: Press Release, 21.03.13: Statement of the Eurogroup President on Cyprus http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/136435.pdf

EUObserver, 22.03.13: Cyprus 'business model' was no mystery to EU http://euobserver.com/institutional/119531

Blog: Open Europe, 21.03.13: Why is the ECB threatening to pull the plug on Cyprus? And how would it work? http://openeuropeblog.blogspot.co.uk/2013/03/why-has-ecb-set-deadline-for-cypriot.html

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