Greece imposes capital controls, banks to remain shut
ATHENS, Greece (AP) -- Greek Prime Minister Alexis Tsipras says banks in his country will remain closed for an unspecified period and restrictions will be placed on bank withdrawals. That's after the European Central Bank declined to increase emergency credit to Greek banks.
The move follows two days of long lines forming at ATMs across the country, as anxious Greeks pulled out cash. One ATM line in central Athens was a block long Sunday.
Their fears are being driven by the fact that Greece's international bailout runs out Tuesday, and negotiations over a new bailout have broken down. Without another loan, Greece may not be able to repay the $1.8 billion due to the International Monetary Fund on Tuesday.
Greece's European partners refused to extend the current bailout after the prime minister's surprise decision to hold a referendum on the demands creditors are making of Greece to get the bailout loan.