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Greek debt crisis: Banks to stay shut, capital controls imposed | |
(35 minutes later) | |
Greek banks will be closed and capital controls will be imposed, Prime Minister Alexis Tsipras says. | |
Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Mr Tsipras said Greek deposits were safe. | |
Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF) on Tuesday - the same day that its current bailout expires. | Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF) on Tuesday - the same day that its current bailout expires. |
Greece risks default and moving closer to a possible exit from the eurozone. | |
Greeks have been queuing to withdraw money from cash machines over the weekend. | |
Mr Tsipras did not give details of how long banks would stay closed, or exactly what controls on capital would be imposed. | |
"[Rejection] of the Greek government's request for a short extension of the [bailout] programme was an unprecedented act by European standards, questioning the right of a sovereign people to decide," Mr Tsipras said in televised address. | |
"This decision led the ECB today to limit the liquidity available to Greek banks and forced the Greek central bank to suggest a bank holiday and restrictions on bank withdrawals." | |
The announcement comes at the end of a particularly turbulent few days for Greece. | |
Weekend of turmoil |