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Over the weekend there were long queues at ATM's all over Greece as people tried to get their money out of the banks, worried that they might run dry. On Saturday alone over €1bn were taken out of savings accounts.

The European Central Bank said they couldn't give any more help to the Greek banks than they already are. So last night in a TV address the Greek prime minister Alexis Tsipras said capital controls would start today.

Greeks can only retrieve €60 from their bank accounts per day, they can't transfer money abroad, and the stock market will remain closed until at least July 6th. That has caused a huge amount of concern especially amongst small businesses, as Panos Veinoglou - who owns e-commerce company Smart Technology told us.

Picture: Greek Pensioners wait outside a closed National Bank branch. Credit: Reuters