Cyprus braces for banks to reopen and capital controls to begin -
http://www.ekathimerini....te1_1_27/03/2013_490296
Cyprus capital controls
- Daily withdrawals limited to 300 euros
- Cashing of cheques banned
- Those travelling abroad can take no more than 3,000 euros out of the country
- Payments and/or transfers outside Cyprus via debit and or credit cards permitted up to 5,000 euros per month
-Businesses able to carry out transactions up to 5,000 euros per day
- Special committee to review commercial transactions between 5,000 and 200,000 euros and approve all those over 200,000 euros on a case-by-case basis
- No termination of fixed-term deposit accounts before maturity
http://www.bbc.co.uk/news/business-21963462
And fight club begins...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!