It's looking like absolute bedlam over in Cyprus. Here's a quote from
the Telegraph's live blog:
12.49 Our foreign correspondent Colin Freeman is in Nicosia. He's seeing long queues at bank ATMs today, fuelled by rumours that Laiki Bank - aka the Cyprus Popular Bank - will close. A local garage-owner told him they are no longer accepting cheques from Laiki.
Queuers have told him the amount they can withdraw has fallen from 700 to 400.
There is no way Cyprus will stay in the EU after this. If I was over there I would be standing at ATMs and banks handing out pamphlets with bitcoin info on them and offering to sell bitcoins to people by putting my email address and QR code on the pamphlets. Of course, I would cash any Euros I got into BTC immediately to avoid the EU risk.