Global finance fears grow as Greece faces economic meltdown

Several Western countries issued travel warnings for Greece on Sunday, as the Greek government shut down all banks and imposed capital controls following the breakdown of talks between Athens and the European Union. British and American citizens traveling or living in Greece were advised to have enough cash on hand, as ATMs were quickly running out of currency. In a late-night televised address to the nation, Greek Prime Minister Alexis Tsipras said banks would remain closed until July 6 –the day after Greeks vote in a nationwide referendum on whether to accept the bailout terms proposed to Greece by its creditors. Police tightened security around ATM machines, as lines were reportedly formed in petrol stations in the capital. Continue reading