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| Greece debt talks: EU chief feels 'betrayed' | |
| (35 minutes later) | |
| The European Commission chief, Jean-Claude Juncker, has said he feels "betrayed" by the "egotism" showed by Greece in the failed debt talks. | The European Commission chief, Jean-Claude Juncker, has said he feels "betrayed" by the "egotism" showed by Greece in the failed debt talks. |
| He told a news conference that Greek proposals were "delayed" or "deliberately altered" and the Greek people "should be told the truth", but the door was still open to talks. | He told a news conference that Greek proposals were "delayed" or "deliberately altered" and the Greek people "should be told the truth", but the door was still open to talks. |
| Talks broke down on Friday sparking a weekend of dramatic developments. | Talks broke down on Friday sparking a weekend of dramatic developments. |
| Greece called a surprise referendum and Greek banks are closed for a week. | Greece called a surprise referendum and Greek banks are closed for a week. |
| The negotiations were not "a game of liar's poker", Mr Juncker said. "Either all win or all lose". | The negotiations were not "a game of liar's poker", Mr Juncker said. "Either all win or all lose". |
| He said the talks were broken "unilaterally" by the announcement from the Greek Prime Minister Alexis Tsipras that he was calling a referendum for 5 July. | He said the talks were broken "unilaterally" by the announcement from the Greek Prime Minister Alexis Tsipras that he was calling a referendum for 5 July. |
| The European Commission president said that he still believed a Greek exit from the euro was not an option and insisted that the creditors' latest proposal meant more social fairness - "no wage cuts, no pension cuts". | |
| Is Grexit nearer? | |
| On Saturday, the European Central Bank (ECB) decided not to extend emergency finance to the Greek banks, after the breakdown of talks on giving heavily indebted Greece the last payment of its international bailout. | |
| Following the ECB announcement, Greece said its banks would remain shut until 6 July. Cash machines are now reopening, but customers can withdraw only limited amounts. | |
| Greece crisis - live coverage | |
| A critical deadline looms on Tuesday, when Greece is due to pay back €1.6bn to the International Monetary Fund - the same day the bailout expires. There are fears of a default and a possible exit from euro. | |
| The French cabinet met on Monday in an emergency session. President Francois Hollande said afterwards that a deal was still possible if the Greeks wanted it. | |
| "There are a few hours before the negotiation is definitively closed, in particular for the prolongation of the Greek aid programme." | |
| German Chancellor Angela Merkel's spokesman said that she was "ready for further talks" with the Greek Prime Minister Alexis Tsipras "if he actually wants to". | |
| Markets fall | |
| In its decree bringing in the bank restrictions, the Greek government cited the "extremely urgent" need to protect the financial system due to the lack of liquidity. | |
| The main points are: | |
| In reaction to the crisis, the London, Paris, Frankfurt and Milan stock markets fell sharply in early trading on Monday, following similar falls in Asia. | |
| The euro lost 2% of its value against the the US dollar. Government borrowing costs in Italy and Spain, two of the eurozone's weaker economies, have also risen. | |
| The Athens stock exchange is also closed as part of the measures. | |
| Days of turmoil | |
| Eurozone finance ministers also blamed Greece for breaking off the talks, and the European Commission took the unusual step on Sunday of publishing proposals by European creditors that it said were on the table at the time. | |
| But Greece described creditors' terms as "not viable". | |
| The current ceiling for the ECB's emergency funding - Emergency Liquidity Assistance (ELA) - is €89bn (£63bn). It is thought that virtually all that money has been disbursed. | |
| Analysis: Robert Peston, BBC economics editor | |
| The temporary closure of banks in Greece, and the introduction of capital controls, is very bad news for Greece. Greek people will have less money to spend and business less to invest; so an already weak economy will probably return to deep recession. | |
| As for the impact on the rest of the eurozone, corporate treasurers and wealthy individuals will wake up on Monday wondering if their money is safe in the banks of other weaker eurozone economies. | |
| Greece's bank holiday from hell |