Holidaymakers visiting Greece have been urged to take sufficient cash to cover the costs of the planned visits as the economic crisis in the country deepens.

Banks in Greece are closed until at least July 5th as the country prepares for a referendum on its financial future.

As such, capital controls have been imposed, limiting the amount of cash it is possible for locals to withdraw.

While debit and credit cards registered overseas are unaffected by the limits, it is possible banks could run out of cash this week.

In response chancellor George Osborne advised holidaymakers to Greece to take hundreds of euros in cash.

He explained: “We hope for the best, but we are preparing for the worst.”

Osborne also announced help for British pensioners living in Greece and support for exporters suffering cash flow problems.

At the same time, the Foreign Office is advising holidaymakers to take enough euros in cash to cover the entire duration of their trips, emergencies, unforeseen circumstances and any unexpected delays.

Greece has imposed a €60 limit on ATM cash withdrawals.

The Foreign Office is also warning holidaymakers of the possibility of protests across the country on Sunday when Greece, which is widely expected to default on a €1.6 billion loan repayment to the International Monetary Fund today, will hold a referendum on EU austerity measures.