Greek Debt Crisis: Banks To Remain Shut All Week

The Greek government has confirmed that banks will be closed all week, after a decision by the European Central Bank not to extend emergency funding.

In a decree, it cited the “extremely urgent” need to protect the financial system due to the lack of liquidity.

Cash withdrawals will be limited to €60 (£42; $66) a day for this period, the decree says.

Athens is due to make a €1.6bn payment to the IMF on Tuesday – the same day that its current bailout expires.

Greece crisis – live coverage

Earlier talks between Greece and the eurozone countries over bailout terms ended without an agreement, and Prime Minister Alexis Tsipras then called for a referendum on the issue to be held on 5 July.

The parliament later ratified the plan to hold a referendum.

Greece risks default and moving closer to a possible exit from the 19-member eurozone.

Shares across Asia fell in trading on Monday on fears of a Greek exit, with the euro dropping 2% against the US dollar.

Posted by Editor on June 29, 2015. Filed under World. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.