Greek banks are to stay shut and capital controls will be forced, Prime Minister Alexis Tsipras says.
Talking after the European Central Bank (ECB) said it was not expanding crisis subsidizing to Greek banks, Mr Tsipras said Greek stores were safe.
Greece is because of make a €1.6bn (£1.1bn) installment to the International Monetary Fund (IMF) on Tuesday - that day that its current bailout terminates.
Greece dangers default and drawing nearer to a conceivable way out from the eurozone.
Greeks have been lining to withdraw cash from money machines throughout the weekend, and the Bank of Greece said it was making "enormous endeavors" to keep the machines loaded.
Greek banks are relied upon to stay close until 7 July, two days after Greece's arranged choice on the terms it had been offered by global banks for getting new bailout cash.
The Athens stock trade will likewise be shut on Monday.
Greece's capital controls
A most extreme of €60 (£42; $66) can be withdrawn from a record in one day
Abroad exchanges of money disallowed, with the exception of imperative, preapproved business exchanges.
Capital controls - how would they work?
Eurozone fund pastors pointed the finger at Greece for severing the discussions, and the European Commission made the irregular stride on Sunday of distributed proposition by European loan bosses that it said were on the table at the time.
Yet, Greece depicted lenders' terms as "not practical", and requested an expansion of its present arrangement until after the vote was finished.
"[Rejection] of the Greek government's solicitation for a short expansion of the system was a phenomenal demonstration by European measures, scrutinizing the privilege of a sovereign individuals to choose," Mr Tsipras on Sunday said in a broadcast address.
"This choice drove the ECB today to utmost the liquidity accessible to Greek banks and constrained the Greek national bank to propose a bank occasion and confinements on bank withdrawals."
The Greek PM said that wages and benefits, and also bank stores, were ensured.
He additionally said he had sent another solicitation for an expansion to the bailout. "I am anticipating their prompt reaction to a central solicitation of vote based system," included.
Investigation: Robert Peston, BBC financial matters editorial manager
The provisional conclusion of banks in Greece, and the presentation of capital controls, is terrible news for Greece. Greek individuals will have less cash to spend and business less to contribute; so an officially frail economy will most likely come back to profound retreat.
Concerning the effect on whatever is left of the eurozone, corporate treasurers and rich people will wake up on Monday thinking about whether their cash is safe in the banks of other weaker eurozone economies.
Greece's bank occasion from hellfire
The German and British governments informed visitors to take bounty concerning euros to Greece into a bad situation withdrawing cash.
Taking after the news from Greece the euro fell by almost two US pennies against the dollar in right on time Asia Pacific exchange, Reuters reported.
German Chancellor Angela Merkel and US President Barack Obama talked about the emergency by telephone, concurring that it was "basically essential" to help Greece stay in the eurozone, the White House said.
French Prime Minister Manuel Valls told French TV: "We must do everything so that Greece stays in the eurozone.
"Doing everything, that implies regarding Greece and majority rule government, but at the same time its about regarding European rules. So Greece needs to return to the arranging table.''
Sunday's advancements come following a few days of specific turbulence in Greece's obligation emergency.
Few days of turmoil
Friday evening: Greek executive calls choice on terms of new bailout arrangement, requests augmentation of existing bailout
Saturday evening: Eurozone money clergymen decline to broaden existing bailout past Tuesday
Saturday night: Greek parliament backs arrangement for submission on 5 July
Sunday evening: ECB says it is not expanding crisis help to Greece
The present roof for the ECB's crisis financing - Emergency Liquidity Assistance (ELA) - is €89bn (£63bn). It is imagined that for all intents and purposes all that cash has been dispensed.
The ECB was arranged to hazard confining ELA in light of the fact that the disappointment of the bailout talks give occasion to feel qualms about new the suitability of Greek banks - some of their advantages rely on upon the administration having the capacity to meet its monetary responsibilities, the BBC financial matters journalist Andrew Walker reports.
He includes that it is a basic rule of focal managing an account that while you do loan to banks that are interim trouble, you just do as such on the off chance that they are dis
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