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Cabinet: Greek banks to stay shut for six days; capital controls placed

  • Greece's cabinet confirmed that the country's banks would remain shut for six working days, and instituted capital controls as its financial crisis came to a head today.
  • Banks will be shut through next Monday, July 6, the cabinet decided after an 8-hour session. Athens' stock exchange will be closed tomorrow as well.
  • ATM withdrawals for in-country cards are being capped at €60/day, and ATMs will be open by early afternoon at the latest.
  • PM Alex Tsipras blames the Eurogroup's decision against extending the country's bailout program for imposing capital controls.
  • The government is urging citizens to vote against creditor proposals in next Sunday's referendum.
  • Previously: Major stock futures, euro tumble in reaction to Greece news (Jun. 28 2015)
  • Previously: Greek parliament approves bailout referendum (Jun. 28 2015)
  • Greek banks:OTCPK:ALBKY, OTCPK:BPIRY, OTCPK:EGFEY, NBG
  • ETFs: GREK

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