According to the Financial Times: The hunt is on to find
ways to circumnavigate the new draconian capital controls in Cyprus and get
money off the island.
At least three people have attempted to flee the island in
recent weeks with more than €200,000 in cash on their person, according to
official sources. The money was in all cases confiscated and the people
questioned by the authorities.
Individuals have only been allowed to take €1,000 a day out of the
country since Thursday under strict capital controls designed to prevent a bank
run….But concerns have also been raised in Brussels that politically-connected
depositors on the island have been able to move their cash out of Laiki and
Bank of Cypus, even though banks were closed from the start of the crisis…..
Don't stop now. Get the whole story at http://www.ft.com/intl/cms/s/0/8134e0b0-99ea-11e2-83ca-00144feabdc0.html#axzz2PBr3r1Sg
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