Monday, June 29, 2015

Greece in Shock Over Bank Closings. Default Now Looming.

New York Times: Cash Withdrawals and Hoarding as Default Looms Over Greece

ATHENS — The sun shone, as usual, with clouds floating in a brilliant blue sky above the Acropolis. Hotels were mostly full, shops sold T-shirts and the cafes along the narrow alleyways in the Plaka tourist district were bustling.

It was a seemingly normal Sunday — except it was anything but normal.

For many people in Athens, it was time to prepare for an approaching storm. A short walk from Plaka, a line of people waited to withdraw cash from an A.T.M., hours before the official announcement that banks would be closed starting on Monday. Some bank machines in central Athens had run out of money or were out of service, as screens blamed “technical difficulties.”

More News On the Greek Debt Crisis

Greece debt crisis: Live Coverage -- BBC
Greece debt crisis: Europe says referendum is euro v drachma - live -- The Guardian
Live Greece crisis: Juncker accused of 'preposterous lie' over pension cuts as global markets left in turmoil -- The Telegraph
Greece in shock as banks shut after snap referendum call -- Reuters
Greeks hit by closed banks, warnings from eurozone -- AP
Greece Imposes Capital Controls as Fears of Grexit Grow -- Bloomberg
Greek Banks And Stock Exchange In Shutdown -- SKY News
Capital Controls Hit Greek Economy at Worst Time -- NYT
Greece will not pay IMF loan due on Tuesday: government official -- Reuters
Eastern European Banks Scramble to Stem Contagion Fears -- WSJ
Greece's neighbours feel ripples from bank crisis in Athens -- Reuters
'I have been betrayed by Athens': Juncker reveals his anger at Greece's failure to agree on bailout deal as government orders banks to close and limits cash withdrawals -- Daily Mail
Greece debt talks: EU chief feels 'betrayed' -- BBC
Does the Greek referendum ballot paper make any sense to you? -- The Telegraph
Greece could face social unrest soon: Wilbur Ross -- CNBC
Greek banks closed for business (Photo Gallery) -- Reuters

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