Tsipras announces temporary bank closure, capital controls
Greek Prime Minister Alexis Tsipras
Athens - AFP
Greek Prime Minister Alexis Tsipras announced that the country's banks and stock market will be shut on Monday and capital control imposed, and called for calm.
Tsipras said the Eurogroup's rejection of a bailout extension beyond June 30 sparked the ECB's decision to freeze its financial lifeline, and prompted "the Bank of Greece (to) ask for the activation of measures" comprising a "bank holiday and restriction of bank withdrawals", adding that Athens had again requested a "prolongation of the programme".
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