Greece imposes capital controls, banks to remain shut

Greek banks will remain shut for an unspecified time and the country is imposing restrictions on bank withdrawals following a recommendation by the Bank of Greece, the country’s prime minister said Sunday.

Sunday’s move comes after two days of long lines forming at ATMs across the country, following Prime Minister Alexis Tsipras’ sudden decision to call a referendum on creditor proposals for Greek reforms in return for vital bailout funds. Continue reading