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Greece debt crisis: Banks to remain shut all week



Greek banks are closed and will stay shut for the week, after the country's debt crisis took a dramatic turn.
But cash machines are due to reopen in the afternoon and there are reports of fresh queues.
Greece decided on Sunday to shut banks and restrict cash withdrawals after the European Central Bank resolved not to extend emergency funding.
It followed the failure on Friday of talks with Greek creditors on continuing with the bailout programme.
Greece crisis - live coverage
A critical deadline looms on Tuesday, when Greece is due to pay back €1.6bn to the International Monetary Fund - the same day the bailout expires. There are fears of a default and a possible exit from euro.
The French cabinet met on Monday in emergency session. President Francois Hollande said afterwards that a deal was still possible if the Greeks wanted it.
"There are a few hours before the negotiation is definitively closed, in particular for the prolongation of the Greek aid programme."
German Chancellor Angela Merkel's spokesman said that she was "ready for further talks" with the Greek Prime Minister Alexis Tsipras "if he actually wants to".
Greek cash machines were shut on Monday morning
In its decree bringing in the bank restrictions, the Greek government cited the "extremely urgent" need to protect the financial system due to the lack of liquidity.
The main points are:
Banks closed till 6 July
Cash withdrawals limited to €60 (£42; $66) a day for this period
Cash machine withdrawals with foreign bank cards permitted
Pension payments not part of capital controls
Banking transactions within Greece allowed
The crisis came to a head on Saturday after Greece and eurozone countries failed to reach agreement on payment of the last tranche of bailout money.
Shares fell on European exchanges
Mr Tsipras then called a surprise referendum for 5 July on the latest terms offered by Greece's creditors.
In reaction to the crisis, the London, Paris, Frankfurt and Milan stock markets fell sharply in early trading on Monday, following similar falls in Asia.
The euro lost 2% of its value against the the US dollar. Government borrowing costs in Italy and Spain, two of the eurozone's weaker economies, have also risen.
The Athens stock exchange is also closed as part of the measures.
The decree says they were taken as a result of the eurozone's decision "to refuse the extension of the loan agreement with Greece".