According to sources of the BBC's Robert Peston

  • ECB expected to end emergency lending to Greek banks in a statement after their meeting later today

Capital controls here we come. If they weren't already, which they were for a few banks anyhow

The run on banks over the week-end so far has been solid with over a third running dry

Peston reports the sources as saying

"We think the Greek government will have no choice but to announce a bank holiday on Monday, pending the introduction of capital controls,"

The decision by the ECB to terminate emergency lending to Greek banks stems from yesterday's decision by the Eurogroup of finance ministers that there is no way now of preventing Greece tumbling out of the current bailout programme on Tuesday and also of defaulting on a €1.5bn (£1.1bn) due payment to the IMF on the same day

Ouch, but in recent days almost inevitable

Peston has more here

And this is after the Greek govt came out with a "we're working closely with the ECB" statement yesterday

Reuters reported that

Greece's government will continue working closely with the European Central Bank and the country's central bank to ensure banks are stable, the deputy prime minister said in a tweet on Saturday after a meeting with ECB chief Mario Draghi.

Greeks lined up at automated teller machines to withdraw cash on Saturday after Prime Minister Alexis Tsipras called a referendum on a bailout agreement, throwing the country's future in the euro in doubt.

Deputy Prime Minister Yanis Dragasakis wrote on Twitter: "Following today's meeting with Mario Draghi in Brussels, Yannis Dragasakis and (Greek negotiator) Euclid Tsakalotos said that the government will continue working closely with the ECB and Bank of Greece for the stability of the country's banking system".