That's a good point. Hard to say what the consensus is amongst average people. Some get it but... I'm not so sure that most get it even now? I'd like to see a survey to see what average people understand.

The thing about this is that it doesn't seem to be a fix? It only guarantees a loan that isn't even enough to fix the situation. If they made it a 100% tax (which is what it could actually fall into!), I don't think even that would be enough to start again.

We've seen it all in Argentina. I've been telling everyone this. No one believes me. When I say I'm putting cash into Bitcoin they all think I'm mad.
It's exactly how many said it would happen.

The thing is, it is possible to get away from Euro banks but it isn't easy, even now. Bitcoin is  the easiest option. Trying to find a decent bank abroad and actually getting all that up and running is even harder. It's really hard work going through financial statements to figure out just how much of your cash is in the bank at worse case scenario - even sharia banks are not a safe bet. Now what happens if everybody in Crypus starts moving cash to Lebanon and the middle east? Do we then get more flare ups there or more peace because it's hard to attack a place where your cash is?  

Taking a load of savings is not so different from the fed and BoE printing loads of cash, it's quick but the BoE did quantitative easing in quite big chunks anyway.

Meanwhile I read of markets going nuts this morning. I can see a lot of movement but I don't know how to put it into context of how big it is.

Cyprus is kind of halted right now. No banking. No ATMs. Hope you've got some food in the fridge? That's how it started out for Argentina. But it just kept going and going until they had enough people to overpower the police and the president legged it in a chopper. I don't think this one will go that far but... it could with a run on the banks?