Chris

There are bound to be capital controls to prevent all the money draining out of the Cypriot banking system. But capital controls cannot prevent people deciding not to pay money in to the Cypriot banking system. There are a lot of British pensioners and service families out there, I expect HM Govt to make altnative arrangements rather than have their money disappearing into a Cyprioot black hole. Cyprus' days as a banking centre are now well and truly over, which is a double calamity as this was a major source of national income. About all they have apart from that is tourism. And would you go there this summer after the pictures on the news these past few days?