Main measures

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. 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 were to open from yesterday afternoon. Daily cash withdrawals will be limited to €60 (Dh245). 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 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.