Bloomberg View: The Perils of Capital Controls

Life under permanent, temporary capital controls
Customers queue outside a Bank of Cyprus branch in Nicosia ahead of its opening for the first time in two weeks on March 28 Photograph by Simon Dawson/Bloomberg

Picture not being able to cash a check, transfer money electronically, or withdraw more than $385 a day from your bank. Or imagine being searched by airport gendarmes making sure you aren’t taking more than $3,800 of your own money out of the country.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.