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Greece: Athenians queue at ATMs after capital controls put in place01:05

Greece: Athenians queue at ATMs after capital controls put in place

Greece, Athens
June 29, 2015 at 23:43 GMT +00:00 · Published

Athenians queued up at ATM points in the Greek capital, Monday, after the government announced that banks would be closed for a week and that cash withdrawals would be limited to €60 ($67) per day, ahead of the referendum on Greece’s bailout programme.

Greek Prime Minister Alexis Tsipras stated that the government had no choice but to close the banks, after the European Central Bank declined to provide further emergency liquidity assistance to Greece’s banking system. The banks are set to remain shut until the referendum on Sunday, in which residents will vote on the bailout conditions set by Greece’s international lenders.

Greece’s stock exchange was also closed and share prices on global markets tumbled with German, French and UK markets falling by 2-4 percent on opening, Monday.

Greece: Athenians queue at ATMs after capital controls put in place01:05
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Athenians queued up at ATM points in the Greek capital, Monday, after the government announced that banks would be closed for a week and that cash withdrawals would be limited to €60 ($67) per day, ahead of the referendum on Greece’s bailout programme.

Greek Prime Minister Alexis Tsipras stated that the government had no choice but to close the banks, after the European Central Bank declined to provide further emergency liquidity assistance to Greece’s banking system. The banks are set to remain shut until the referendum on Sunday, in which residents will vote on the bailout conditions set by Greece’s international lenders.

Greece’s stock exchange was also closed and share prices on global markets tumbled with German, French and UK markets falling by 2-4 percent on opening, Monday.