Greece capital controls: Measures adopted

Greece imposed capital controls and ordered banks to close temporarily after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and foreign creditors.

Here are the main measures adopted by the government:

• Banks will close until to July 6. All credit institutions in Greece, including branches of foreign banks, are affected.
• The finance minister may shorten or extend the bank holiday period.
• ATMs will open from Monday afternoon. Daily cash withdrawals will be limited to 60 euros. The limit can be changed by the finance minister.
• Payments via debit or credit cards to accounts within Greece and online banking transactions within Greece will be allowed but payments and transfers to accounts outside Greece are prohibited.
• Cash withdrawals at ATMs with bank cards that have been issued by foreign banks will be allowed. Withdrawal limits may be set by the finance minister.
• All other transactions will not be permitted.
• A special committee will approve banking transactions deemed necessary to safeguard a public or social interest, including medical expenses or pharmaceutical imports.
• Pension payments will be exempt from capital controls.
• Interest surcharges on due payments will not be allowed during the bank holiday period.
• Banks breaching the rules face fines of up to 10 per cent of the amount of any transaction violating the control measures.