Greeks rushed to ATMs in fear that banks would collapse and are now flooding local supermarkets and gas stations.
Greek Prime Minister Alexis Tsipras announced plans Sunday to shut the country's banks and place restrictions on cash withdrawals. During a televised address to the Greek people Tspiras assured that citizens' savings, wages and pensions were "guaranteed."
Just a few minutes after the Greek PM addressed his nation imploring then to "remain calm" and reassuring them that their "deposits were safe" long lines formed at automated teller machines (ATMs), emptying all ATMs since early morning hours.
According to the decree published on the government gazette’s website pensions payments were on the list of transactions that can still be processed by banks in Greece. Despite the government's reassurances many elderly people were queuing to withdraw cash after their pensions were paid into their accounts on Friday evening.
In Salonika, Greece's largest city, pensioners waiting outside closed banks fainted when it became apparent that the lenders weren’t going to open and they would not be getting their pensions.
Furthermore after the run of the ATMs, gas stations run out of petrol around noon and then the run to the supermarkets started which now is coming to an end as most department stores are already out of pasta, milk and other edibles.
The Guardian reported that there is "mayhem" in some of the supermarkets. The newspaper said that "panicked buyers were snapping up everything in sight, not least staple foods such as sugar and flour."