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Monday, June 29th

Greece crisis deepens as banks close for a week after weekend that shook euro “On Monday morning Greeks will find their savings blocked and their banks closed for a week following a fateful weekend that has shaken Europe’s single currency. The Greek government decided on Sunday night it had no option but to close the nation’s banks the following day after the European Central Bank (ECB) raised the stakes by freezing the liquidity lifeline that has kept them afloat during a six-month run on deposits. The Athens Stock Exchange will not reopen on Monday either. The dramatic move, after 48 hours of sensational developments in Greece’s long-running battles with creditors, was sparked by the country’s prime minister, Alexis Tsipras’s Friday night call for a referendum on its creditors’ demands. That prompted finance ministers of the eurozone to effectively put an end to his country’s five-year bailout by the International Monetary Fund, the ECB and the European commission.” (Also: How much Greece owes to international creditors)

The Guardian