The sudden decision by the Syriza government to announce a referendum on the creditors proposal has alarmed many Athenians who have formed long queues at ATMs.
Many people ignore the appeals by ministers for calm and are queuing in the early hours of Saturday morning.
Peter Spiegel of the FT reports queues of 30-40 people at ATMs in Athens.
There are fears that what happened to Cyprus will happen to Greece.
Fear and insecurity has also caused a number of citizens to rush to super markets and gas stations in the fear that there may be shortages.
Queues outside the banks also in Chania during the night (photos by Dimitris Skouloudis).