Greece announced early on Monday it will shut banks for a week and impose capital controls, pleading for calm after anxious citizens emptied cash machines in a dramatic escalation of the country's debt crisis.
Banks will be closed until July 6 - the day after a referendum on bailout proposals - with a 60-euro ($65) limit on ATM withdrawals, but foreign tourists, a vital engine of the Greek economy, will be exempt from the restrictions, a decree published in the official government gazette said.
In the first market reaction to the growing risk of a Greek euro exit, the single currency tumbled in Asia on Monday morning.
Greece orders banks closed for a week, worried citizens empty ATMs; Indian markets spooked - The Times of India
Banks will be closed until July 6 - the day after a referendum on bailout proposals - with a 60-euro ($65) limit on ATM withdrawals, but foreign tourists, a vital engine of the Greek economy, will be exempt from the restrictions, a decree published in the official government gazette said.
In the first market reaction to the growing risk of a Greek euro exit, the single currency tumbled in Asia on Monday morning.
Greece orders banks closed for a week, worried citizens empty ATMs; Indian markets spooked - The Times of India
