(WALL STREE JOURNAL) After a weekend of Greek drama, markets around the world are reacting Monday. Stocks are down from Hong Kong to London, the euro is on the move, and gold and U.S. Treasurys are stronger as investors look for safety.
Greek banks will stay closed for six days from Monday, and the central bank has moved to impose capital controls, in a bid to prevent a severely battered banking system from collapsing completely.
Over the weekend Greek Prime Minister Alexis Tsipras shocked European policy makers by announcing the country will hold a referendum on whether to accept the terms of Greece’s creditors to unlock desperately needed financial aid.
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