http://www.zerohedge.com/news/2013-03-22/ecb-set-fair-cypriot-standard-living-capital-controls... Handelsblatt reports that the ECB has decided that, due to the "great danger" of a bank run once they reopen next week, it will enforce capital controls independently of Cypriot (elected) officials. ... the rather stunning restrictions on people's private property include:
•Freezing Savings - no time-frame (it's not your money anymore)
•Make bank transfers dependent on Central Bank approval (a money tzar?)
•Lower ATM withdrawal limits (spend it how we say?)
The capital controls will be designed "so that citizens have access to sufficient cash to go about their lives." So, there it is, a European Union imposed decision on just how much money each Cypriot can spend per day. ...