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Greek PM announces closure of banks and stock market

Greece has announced the temporary closure of banks and stock market as leaders of the US and Germany weigh in on the country’s debt crisis. The Bank of Greece has recommended a “bank holiday and restriction of bank withdrawals” on Monday, Greek Prime Minister Alexis Tsipras announced in a statement on Sunday. Athens stock market would also stay closed and capital controls are to...

Tags: Alexis Tsipras, Angela Merkel, Athens, Bank of Greece, Bank Withdrawals, Barack Obama, European Central Bank, Financial Collapse, Germany, Greece, Greek Prime Minister, Stavros Koukos, Stock Market, USA

Greece likely to exit euro and EU without deal with creditors

Athens is likely to leave the eurozone and the EU if it fails to reach an agreement to unlock a €7.2 billion bailout installment, said a statement from the Bank of Greece. “Failure to reach an agreement would, …, mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country’s exit from the euro area and – most likely – from the...