The Council of Systemic Stability convened under Finance Minister Yanis Varoufakis until late on Sunday evening, with he government issuing a decree in the early hours on Monday morning imposing capital controls. According to the decree the banks will remain closed until the 6th of July, although this may be extended.
Furthermore, a 60-euro-limit will be in place on cash withdrawals from ATMs, while credit and debit cards may only be used for payments within Greece. Web banking transactions will also be limited to payments in Greece. The limit for withdrawals from cards that have been issued abroad will be determined by the Minister of Finances.
The decree also notes that no default interest will be due for loans that mature for the duration of the bank holiday, when the banks remain closed. Aside from the aforementioned, no other banking transactions will be possible.
Additionally, the General Accounting Office will form a banking transaction committee, which will approve transactions abroad, such as for the payment of medical supplies.
Finally, government sources have reported that the capital controls imposed will not affect those traveling to Greece and who wish to carry out transactions using credit or debit cards from abroad.
