The president of Cyprus is due to present a 'plan B' aimed at securing a bailout after parliament rejected demands for a controversial tax on savings.
The near-bankrupt member of the eurozone has closed its banks until Tuesday March 26 while new proposals are debated among political leaders.
President Nicos Anastasiades set a deadline of Thursday for a new rescue plan to be agreed after Finance Minister Michalis Sarris failed to make any progress on possible Russian aid during talks in Moscow.
The proposals, which might still include the controversial bank levy in some form, could also contain "the creation of a structural investment fund, reinforced by various provident funds, real estate," government sources suggested.
They also told the official CNA news agency that the fund "will also be linked with a bond issue and natural gas prospects."
Germany's Angela Merkel favours Cyprus taxing only wealthy depositors The troika of lenders - the European Union, European Central Bank and International Monetary Fund agreed a bailout deal last Saturday on condition Cyprus raised another 5.8 billion euros through a tax on savings.
The resulting backlash has meant that banks will have been closed for 10 straight days under the crisis measures implemented to avert a run on deposits.
The move has inevitably dealt another blow to Cyprus's debt-laden economy, which contracted by 2.3% in 2012, having taken a battering from the global financial crisis and its exposure to Greece.
"We cannot buy, we cannot sell," said Costakis Sophoclides, the director of a frozen goods company in Nicosia.
"A lot of my customers are hotels and restaurants... and we cannot supply them."
Cash machines still have money available but an overall lack of liquidity has seen petrol stations close their credit card facilities and many stores refuse to accept cheques.
US Federal Reserve chief Ben Bernanke commented on the crisis late on Wednesday and said that, so far, "we are not seeing a major risk to the US financial system or the US economy."
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