Greece’s five-year financial crisis took its most dramatic turn to date Sunday, with the cabinet deciding, after an 8-hour session, that Greek banks would remain shut for six working days and restrictions would be imposed on cash withdrawals.
The Athens Stock Exchange would also not open on Monday, financial sector officials confirmed.
A decree published in the official Government Gazette stipulates banks will not open Monday morning and will remain closed through Monday, July 6. The finance minister could decide to short or extend that period.
Withdrawals from ATM with credit or cash cards will be capped at 60 euros ($66) daily. The decree said ATMs would be working at the latest 12 hours from its publication, meaning cash machines would open by early afternoon, at the latest.
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