Cyprus saga: Scramble to take cash out

At least 3 people have attempted to flee Cyprus in recent weeks with more than €200,000 — far more than the €1,000 a day that individuals are allowed to take out of the country since banks reopened on March 28. Depositors, however, are still finding ways to circumnavigate the new draconian capital controls — eurozone’s first ever capital controls that came after the European Union and International Monetary Fund bailout. There are concerns that large sums flowed out of the two banks just before the first bailout package was signed in the early morning hours of March 16. An inquiry has been launched looking into who took money out and what knowledge they had at the time.


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