Capital control decree from Cyprus via WSJ: Cashing of checks is suspended and depositors will...

Capital control decree from Cyprus via WSJ: Cashing of checks is suspended and depositors will not be able to redeem time deposit accounts before maturity. Credit card transactions are capped at €5K/person/month. €3K of cash is allowed out of the country/person/trip. From the Department of You Can't Make This Stuff Up: No restrictions on making deposits or opening new accounts. The decree is valid for 7 days. Who wants the under on that one?

Comments (9)
  • caupachow
    , contributor
    Comments (527) | Send Message
    I wouldn't take the under if it were 7 weeks :-)
    27 Mar 2013, 01:50 PM Reply Like
  • ZBNW
    , contributor
    Comments (138) | Send Message
    hahaha, yeah I'll open a fat new account, then continue to Saudi Arabia for a long weekend of drinking, things to do right before you die!
    27 Mar 2013, 03:44 PM Reply Like
  • The Long Tail of Finance
    , contributor
    Comments (1759) | Send Message
    "St_ al my mon_y"


    I'd like to buy a vowel please and solve the puzzle.
    27 Mar 2013, 04:27 PM Reply Like
  • Kyle Spencer
    , contributor
    Comments (1244) | Send Message
    27 Mar 2013, 06:07 PM Reply Like
  • KJP712
    , contributor
    Comments (472) | Send Message
    Rent is due on the first.But do not worry as the Landlord will be standing in a queue just like everyone else.
    27 Mar 2013, 09:05 PM Reply Like
  • fatfat
    , contributor
    Comments (148) | Send Message
    i sure some folks are still holding GOLD there on the island.
    27 Mar 2013, 09:27 PM Reply Like
  • Ben Bernankes friend
    , contributor
    Comments (475) | Send Message
    Yeah, just read your profile on gold to 5k. Good luck.


    If people are lined up at ATM's to get CASH, I am sure they don't give a rats ass about gold.
    27 Mar 2013, 11:33 PM Reply Like
  • fatfat
    , contributor
    Comments (148) | Send Message
    exactly.... they are the ones not holding gold.
    28 Mar 2013, 03:23 PM Reply Like
  • thechaser
    , contributor
    Comments (769) | Send Message
    spoke to a friend today who lives in cyprus; everything is now cash for anything that constitutes daily living and all major transactions are dead in the water;


    he and his fellow cypriot businessmen have been destroyed by these 'capital controls';


    he's Greek and moved from Athens to avoid the calamities there and he said that cyprus has in two weeks moved back 50 years in time and is absolutely certain that this move by the troika will cause cyprus to leave the euro since the liquid financial assets have now been siezed, they can re-issue a cypriot currency backed by the basic economy
    28 Mar 2013, 04:15 AM Reply Like
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