Savvy Trades and Investments

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Greek PM calls for bank closures, capital controls

Despite a tweet from Greek Finance Minister Yanis Varoufakis that his government "opposed the very concept" of any controls, Greek Prime Minister Alexis Tsipras said later Sunday that he had forced the country's central bank to recommend a bank holiday and capital controls.

Asked, as he left a meeting of the Financial Stability Council, whether banks would open on Monday, Piraeus Bank Chief Executive Anthimos Thomopoulos, said: "No." Additionally, a source told the wire service that the Athens stock exchange would not open on Monday either.

In Athens, lines have formed around many ATMs, and some are already empty.

http://www.cnbc.com/id/