Jeroen Dijsselbloem, President of the Eurogroup, reaffirmed the Eurogroup's readiness to stand ready to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible. In a meeting with MEPs, Mr Dijsselbloem also told them he doubted that there really was a possible 'Plan B'.

Following a teleconference held by EU leaders on 21 of March, President of the Eurogroup, Jeroen Dijsselbloem stressed that the  Eurogroup reaffirms the importance of fully guaranteeing deposits below €100,000 in the EU. He already stated the same affirmation following another conference held on 18 March. According to Mr Dijsselbloem, the Eurogroup stands ready to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible. The Eurogroup would subsequently, on the basis of a Troika analysis that needs to be undertaken, be prepared to continue negotiations on an adjustment programme, while respecting the parameters defined earlier by the Eurogroup.

In a meeting held in the European Parliament on the same date, the new Eurogroup President's and MEPs focused almost exclusively on developments in Cyprus. Many MEPs said the Cypriot decision to reject the plan had severely affected people's confidence in the only certain element throughout the banking crisis. Mr Dijsselbloem reiterated that the plan did not legally undermine the deposit guarantee scheme, because it was a tax.

At the hearing, Mr Dijsselbloem was also asked about his plans to address Eurozone imbalances, the role of parliaments in the EU's new economic governance, and whether he would be as tough on larger countries flouting the EU fiscal rules as the Eurogroup seemed to be on smaller ones.