Run on the banks.
Via Buzzfeed:
Banks across Greece will stay closed on Monday as capital controls are put in place by the government, Prime Minister Alex Tsipras announced Sunday, after the European Central Bank refused to increase emergency funding to Greek banks.
The news comes as Greece inches towards financial calamity, after Athens and its European lenders failed to find common ground over the terms of a second financial bailout during protracted talks in Brussels over the past week.
Under capital controls, the amount of money people will be able to withdraw from banks will be restricted. However, Tsipras saids Greek bank accounts and pension funds are still secure.
Long lines were seen at many ATMs, as Greeks scrambled to withdraw whatever funds they could from their bank accounts.