Stock markets in Europe are seeing big falls after Greece closed its banks and imposed capital controls.
The moves by the Greek authorities came after the European Central Bank decided not to extend emergency funding.
In afternoon trade, London's FTSE 100 index was down 1.5,%, while Germany's Dax share index and France's Cac 40 were both down more than 3%.
On the money markets, the euro lost ground against other major global currencies.
The Athens Stock Exchange and Greek banks are closed all week.