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Greece imposes capital controls to prevent run on banks

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Following the European Central Bank’s decision to cut off financial support to Greece over the weekend, Prime Minister Alexis Tsipras says that capital controls will now be imposed to protect the country’s banks from mass panic.Greece will likely default on a €1.6 billion payment to the International Monetary Fund on Tuesday, the same day its bailout expires. EU lenders have refused to extend the bailout past the June 30 expiry date.

Added on the 29/06/2015 21:03:06 - Copyright : Reuters - Next Media

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