Russian Businessman Was Offered Chance To Smuggle €1 Million Out Of Cyprus For A €200,000 Fee

Well, this might be our first market quote of how much a "Cypriot Euro" is worth. Remember, last week after large depositors in Cyprus were haircutted, and the government instituted capital controls to prevent money from fleeing, a number of economists argued that Cyprus essentially had its own currency the Cypriot Euro. If you can't easily move your money out of a Cypriot bank account, then said euros are worth less than the same nominal account in, say, a German bank. So how much less is a Cyp...