A deal is reached between Cyprus and the EC–ECB–IMFtroika. The terms of the €10 billion "bailout" package cause widespread anger among Cypriots who queue from early morning to withdraw their savings as it emerges that up to 10% of each citizen's deposits are to be wiped out to raise billions.[4][5] The plan is overwhelmingly rejected by Cypriot lawmakers on March 19.[6][7]
25 March – Cyprus reportedly reaches an outline bank bailout deal with international lenders including the EU, the ECB and the IMF. Eurozone finance ministers approve the deal, which includes a radical downsizing of the island's Russian-fueled financial sector.[13][14]
26 March – The Ministry of Finance says banks will remain shut until Thursday to give regulators time to guard against a runondeposits, and that big depositors in Cypriot banks can lose up to 40% of their funds, while depositors with less than 100,000 euros in their accounts will not be affected by bailout plans.[15][16]
28 March – Security tightens in Cyprus as banks prepare to reopen after nearly two weeks, following a controversial international bailout that was negotiated with the EU and IMF.[17]
29 March – PresidentNicos Anastasiades says the island has no intention of abandoning the euro, despite the tough conditions imposed by its 10 billion euro bailout deal with the EU and IMF.[18]
