Greece closes banks, imposes capital controls

The Greek government has announced that banks will remain closed on Monday and restrictions on withdrawals will be introduced following the ECB refusal to provide additional Emergency Liquidity Assistance to Greece’s banking system.

“The Eurogroup’s decision prompted the ECB to not increase liquidity to Greek banks and forced the Bank of Greece to recommend that banks remain closed, as well as restrictive measures on withdrawals,” Greek Prime Minister Alexis Tsipras told the nation in his Sunday night address.