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European banks lose €50 billion as Greek debt deadline nears

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The market value of European banks has shrunk by more than €50 billion after Greece shut down its banks until July, 6, the day after the referendum on the bailout deal is held. The Stoxx 600 Banks Index fell by 4.4 percent, the biggest daily decline since November 2011, Bloomberg reports. Among the biggest losers is Portugues Banco Comercial down 9.1 percent, and Italy’s Banca Monte dei Paschi... 
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