Thorburn Well I wouldn't be so sure about that at all. Currency...

Thorburn

Well I wouldn't be so sure about that at all. Currency controls are already planned and can be in place overnight.
It also depends what you call capital controls. Is taking pension funds a control on peoples capital, as that money is now gone I would most certainly call it capital control.
If it is just bail out you are talking about well that can happen in the blink of an eye. The Greek people go to bed at night and wake up and find they can only withdraw 100 euro a week, something similar to Cyprus. The rules and regulations are in place.

The leak about capital controls in Greece is a sure sign the ECB is falling apart

Tomas Hirst  Feb 20 2015, 7:01 AM  11

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http://static.*.com/image/54802ba6dd089544138b460a-1200/image.jpg
A report in a German newspaper today that the European Central Bank (ECB) discussed capital controls for Greece, which was subsequently denied by the ECB, highlights deep tensions within the institution.
These rifts threaten to make the problem for Greek banks all the more severe.
The thing that sets the ECB apart from other central banks is that it has to set policy for 19 countries (and 20 if you count Denmark due to its euro-peg), which means it has to cater to different governments that often have divergent needs and interests. Internal politics within the organisation are magnified because so many countries are involved.

http://www.*.com.au/capital-controls-leak-in-greece-is-about-internal-politics-2015-2


Capital Controls Arrive: Greece Begins Confiscating Deposits Of "Small Debtors"



Submitted by Tyler Durden on 04/26/2015 22:17 -0400

Last week, the Greek government issued a decree which called for local governments to transfer excess cash to the central bank so that Athens would be able to pay pensions, salaries, and the IMF. The move is expected to raise as much as €2 billion to help keep the country afloat while the country’s “amateurish, time-wasting gambler” of a FinMin feebly attempts to find some kind of middle ground with his EU counterparts and as PM Tsipras pulls out all the stops including the old EU Summit sideline end-around with Merkel and the wild card energy gas pipeline advance from Gazprom (which may portend the dreaded “Russian pivot").  
http://www.zerohedge.com/news/2015-...ce-begins-confiscating-deposits-small-debtors

http://www.zerohedge.com/news/2015-...ce-begins-confiscating-deposits-small-debtors