The other thought around this, we need to remember Cyprus was a practice run for bail-in's. Within 3 months after that most western countries changed their laws to do the same.
If we see this in Greece, and I suspect we will, it doesn't take much to imagination that the whole of Europe will see bank runs. I suspect there's been a slow run for months already as the money went east. And that means bank failures. Considering the OTC exposures that some of these banks are sitting with and their exposure to sovereign debt...
There's only 3 ways this end. Decades of deflation, hyper-inflationary depression or WW III. The last time we had a depression WW II followed anyway.
But here's a thought, what currency is borderless, out of government control, liquid, easy and cheap to transfer?
Bitcoin of course. I wonder if the big winner in all of this isn't going to be the crypto's as people scramble for something, anything out of government control.
The internet was designed for exactly this. A decentralised way of storing and distributing information in case of disruption. Hopefully people will finally see why government and money needs to be handled the same way.