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Pensioners line-up outside a branch of the National Bank of Greece hoping to get their pensions, in Athens, Greece. Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight.
ABOVE: World markets tumbled this morning as Greece closed its banks in a last ditch effort to avoid a financial meltdown
ATHENS, Greece — 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. 1,099 more words
It looks like Greece is going to default.
On Saturday, Greek Finance Minister Yanis Varoufakis left a meeting of euro zone finance ministers after failing to get an agreement to extend the current bailout deal until after a referendum next week. 425 more words