This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/world-europe-33305019

The article has changed 10 times. There is an RSS feed of changes available.

Version 1 Version 2
Greek debt crisis: Banks 'to stay shut on Monday' Greek debt crisis: Banks to stay shut, capital controls imposed
(35 minutes later)
Greek banks will be closed on Monday, the head of the Piraeus Bank has said after an emergency meeting of the country's Financial Stability Council. Greek banks will be closed and capital controls will be imposed, Prime Minister Alexis Tsipras says.
The Greek cabinet is due to meet later, with an announcement to follow. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Mr Tsipras said Greek deposits were safe.
Earlier, the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks.
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.
Without new emergency funds, Greece risks defaulting and moving closer to a possible exit from the eurozone. 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, and Greece is now expected to impose capital controls as it tries to avert a financial collapse. Greeks have been queuing to withdraw money from cash machines over the weekend.
Asked if capital controls were inevitable, Greek Finance Minister Yanis Varoufakis told the BBC earlier on Sunday: "This is a matter that we'll have to work overnight on, with the appropriate authorities both here in Greece and in Frankfurt [where the ECB is based]." 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