Not gonna happen. Several countries moreover already have withdrawal limits per day / week / months to precisely prevent bank runs. Those limits have recently been lowered (for example in Italy). Laws are passed nearly on a daily basis to lower the maximum amount of "physical" money (bills) you can use to buy stuff.
What is going to happen is lots of politicians blatantly lying and saying: "Something like this is unthinkable in our country, even if we're in the eurozone our situation is not the same as that one of Cyprus".
Just as politicians from Cyprus blatantly lied throughout all this week when that option was mentioned: they said it wouldn't happen.
And people didn't bank run.
Cyprus is too small (0.2% of the GDP) to be detonating factor.
It not the size of the GDP that is at issue, bank runs happen out of fear. I can tell you from conversations I have had with friends (not very scientific, admittedly) that people in European countries are legitimately freaked out by this. Additionally, there may be a physical limit on withdrawals, but electronic transfers are far easier and more common in the EU. That is the real threat. If we are all lucky, tempers will cool by Tuesday.
What is going to happen is lots of politicians blatantly lying and saying: "Something like this is unthinkable in our country, even if we're in the eurozone our situation is not the same as that one of Cyprus".
Just as politicians from Cyprus blatantly lied throughout all this week when that option was mentioned: they said it wouldn't happen.
And people didn't bank run.
Cyprus is too small (0.2% of the GDP) to be detonating factor.