I'm wondering how many do in fact need to withdraw more than €300 a day in cash on a daily basis ? The capital controls affect electronic movement outside of Cyprus but not internally so presumably there are no issues with companies paying their staff.

ATMs are often already set up with a daily limit (some years ago, I found out mine was £250, which caused me a lot of hassle when I wanted to get some money out for a holiday). Programming them to have a weekly one as well might not be possible in a short time, while changing the daily limit should be quick and reliable, You don't want to force people to go to the bank every day, so you use a daily limit that allows an average person to go a few days, even in a cash-only economy. Others may be running small businesses, and €300 might well be needed on many days. Not everyone gets paid into a bank account.

allowing for the fact I don't think you can key in more than £400 on one go, the answer was £600 on each account. They said to do two lots of £300 consecutively. That was a one off anyway - dosh to go to Cuba with.

From a note in the Guardian updates today its looks like some in Cyprus are opening new accounts at cooperative banks with the intention of transferring entire accounts to those out of Laiki. The capital controls don't seem to affect internals movements - just cash withdrawals.

My money would be on them coming out of the Euro later this year and going back to the Cyprus Pound. You'd mentioned before that doing that would allow them to devalue and doing so would help restore tourism to its previous levels.

"small businesses, and €300 might well be needed on many days" Yes - particularly if as is the case at present their own supplier may only accept cash. Petrol filling stations were having that problem some days back.

but it was a hard daily limit. When the machine refused to give me more, even with a second insertion of the card, I went inside. Where they also refused to give me any more. What was really annoying was that I had, at home, a old copy of the account T&Cs that said the limit was £500, which I had bothered to check before going out; but they had, at some later time, decreased it. I had to go back home and get a photo-id to end up being able to get myself enough holiday money. I moved my account not long after.

Getting out of the Euro - yes, Paul Krugman has written that that would be the best solution for them, economically, but whether it's politically doable, I don't know. A cunning Cypriot government that's good at negotiating might be able to persuade the rest of the eurozone to help it out a bit more, hanging the threat of leaving over them (because it does look a bit embarrassing for a country to be better off outside than in). But what will be possible in practice, I just can't tell.

Of course I can count the amount of times I've ever needed to withdraw 1K on three fingers, but it's good to know in the event of an emergency.

... there will be a "controlled run" on the bank for the foreseeable future. Folks will be moving out every Euro that they can.

I really think dinging the depositors, even the fat cat depositors, was a spectacularly bad idea and I think it will have repercussions all over Europe for a long time/