Greece has moved to close its banks and impose capital controls to prevent financial chaos following the breakdown of bailout talks with its international creditors.
The dramatic move came at the end of a weekend which saw Greece lurch closer to a potential exit from the European single currency, confronting the eurozone with a rupture unprecedented since its launch in 1999.
Greece’s financial stability council, grouping banks, regulators and government, decided to impose the controls last night after the European Central Bank said it would freeze the amount of emergency loans it supplied to keep the Greek banking system afloat.
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