“Greek banks closed until July 6, ATM withdrawals limited to 60 euros a day,” Agence France-Presse tweeted less than an hour ago.
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UPDATED June 30: Greece refuses to pay debt, sends world markets down
In one of the most dramatic twists in the Greek financial crisis saga yet, Greek prime minister Alexis Tsipras has imposed cash withdrawal limits on ATMs and ordered banks to stay shut until July 6.
“Greek banks closed until July 6, ATM withdrawals limited to 60 euros a day,” Agence France-Presse tweeted less than an hour ago.
This comes after large queues formed at ATMs over the past two days and fears of bank runs continue to mount.
In an address to the nation, Mr Tsipras said he accepted the recommendation for the limit, which came from Greece’s central bank.
“The more calmly we deal with difficulties, the sooner we can overcome them and the milder their consequences will be,” he said.
The Greek finance ministry says the withdrawal limit will not apply to credit or debit cards issued in foreign countries.
This comes after tourists were reportedly joining the ATM queues. The embattled nation will be looking to keep tourists calm; tourism accounts for a fifth of Greek economic activity.
Greece has until Tuesday to come to an agreement with its creditors. If an agreement can’t be made, Greece will default on its IMF loans, becoming the first county to do so.
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