People leaving Cyprus may take only 1,000 euros with them.
A police source told Reuters that passengers leaving Cypriot airports were subject to extra searches. Notices at Larnaka airport warned travelers of the new restrictions and officers had orders to confiscate cash above the 1,000 euro limit.
Cyprus's difficulties have sent jitters around the fragile single European currency zone. Yields on Slovenia's two-year bonds surged to nearly 7 percent on Thursday in a sign that investors are pricing in a high risk of default, despite denials by the new government that it needs a bailout.
The imposition of capital controls has led economists to warn that a second-class "Cyprus euro" could emerge, with funds trapped on the island worth less than euros that can be freely spent abroad.
Hopefully you understand this is not inflationary news.....While the metals are money and are the ultimate store of wealth a look at the 2008 slam reveals that these banks use gold/silver as a margin call fulfillment....These charts do not look good at all and the the 2 consecutive months of negative closes are extremely bearish in this 12 year run..