Greek banks closed until Thursday as debt crisis deepens

Greek banks closed until Thursday as debt crisis deepens
Greek finance minister Yanis Varoufakis (Image: Reuters, Alkis Konstantinidis via Guardian)

[Ed. – You can at least congratulate yourself that you’re not visiting Greece right now, I guess.]

Banks in Greece and the country’s stock exchange will be shut all week in a sign of the deepening financial crisis.

The drastic move comes after people rushed to withdraw their cash amid panic ahead of the referendum on bailout terms.

Under the controls, there will be a daily €60 limit on withdrawals from cash machines, which will reopen on Tuesday. …

The euro fell sharply against the dollar and pound on Monday while stock markets fell amid investor jitters of a Greek debt default and exit from the eurozone. …

European creditors have refused a request to extend Greece’s international bailout beyond Tuesday, until after the referendum.

It means Athens is at risk of defaulting on its €1.5bn IMF payment, with membership of the eurozone hanging in the balance. …

The Greek government is advocating a ‘no’ vote in next Sunday’s referendum on bailout terms.

Continue reading →


Commenting Policy

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

You may use HTML in your comments. Feel free to review the full list of allowed HTML here.