Capital controls - coming soon to Greece

[MoreLeverage]

Pending EU approval, caps on large outbound cash transfers and a proposed 0.1% tax on all withdrawals (ATMs, wires, etc).

http://www.dailymail.co.uk/news/art...life-savings-country-s-beleaguered-banks.html

Just my 2 drachmas worth, but you would have to be truly and willfully blind to still have money in a Greek bank at this point, whether you live there or not.

 

[Tsing Tao]

Cyprus redux.

 

[Sig]

In case you didn't know, the Daily Mail is just slightly less sensationalistic than those tabloids you see in the supermarket checkout in the U.S., so you have to take their headlines with a serious grain of salt. Reading elsewhere the proposal sounds like a 1 euro per 1,000 euro fee on ATM withdraws (cashpoints in British). I already pay far more than this every time I'm foolishly short of cash and not near one of my bank's ATM machines, so this is hardly the apocalyptic event the headline implies. An interesting coincidental FYI to Tsing Tao's post, Cyprus capital controls ended today http://www.money-marketuk.com/Polit...zone-s-first-capital-controls-go-quietly.html

 

[Tsing Tao]

Cyprus capital controls ended today http://www.money-marketuk.com/Polit...zone-s-first-capital-controls-go-quietly.html

Originally, if memory serves, they were only supposed to be three months. How long were they?