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Greek banks to remain shut all week, government declares

  • Greek government has announced that the country’s banks will remain shut all week, after the European Central Bank decided not to extend its emergency funding.

    The government said that there was an "extremely” urgent requirement to shield the financial system, as the Greek debt crisis heads towards an unpredictable climax.

    Cash withdrawals for this period have been restricted to €60 per day.

    Greece’s bailout expires on June 30, the same day it is due to make a payment of €1.6 billion to the IMF.

    Tagged as: Greece, Greek government, Greece bailout, Greek debt crisis, European Central Bank, ECB, cash withdrawals, IMF payment, business news