European shares tumbled at the opening Monday after Greece ordered a playpen and the fear that the country out of the euro area .
In Paris , at 10:15 GMT the CAC-40 lost 3.29 percent; and Frankfurt , the Dax yield 3.18 percent. In turn, London registered a loss of 1.59% while Madrid the Madrid Ibex-35 fell 3.75 percent. Also, Milan lost 3.54% while Lisbon collapses 4.49 percent.
The debt market was also affected, and coupon rate of ten-year Greek debt rose to 14,574%, a record since 2012 .
In Spain, the rate on ten-year bonds rose to 2.720% just after 0600 GMT compared to 2.150% on Friday to close. The rate in Italy rose meanwhile to 2,598% (compared to 2,110% on Friday).
The Athens Stock Exchange, which on Monday did not work, will be closed until July 6 inclusive and will reopen on Tuesday, July 7, as banks , announced Monday the Greek committee of the capital market.
“The market will be closed throughout the period of bank closure” decided by the government, the commission said following a meeting of the board of the Athens stock exchange
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The government Greek adopted on Sunday a series of capital control measures to protect the national banking system.
The measures were the consequence of the decision of the Greek parliament to hold a referendum next Sunday, July 5 for the Greeks to decide whether to accept or reject the latest proposal from creditors
Following that announcement, the Greek government asked the creditors -the European Union and International Monetary Fund (IMF). – an extension of the program of aid to Greece which expires on June 30. But the request was rejected and led the European Central Bank (ECB) not to extend emergency aid to Greek banks .
Greece, whose reserves are almost empty, must repay $ 1,500 million to the IMF on Tuesday, June 30. It is very likely that the government will not make the refund and made into default
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travel urban transport will be free in Athens during this week that will run the playpen in Greece, announced the Deputy Transport Minister Christos Spirtzis.
The ministerial decree has been taken to make things easier for citizens during the restrictive measures of capital, and will apply in subways, buses and trams, but not in local communications, the minister said in a statement.
Neither is effective in Thessaloniki and other provincial cities, where urban transport is in the hands of private entities.
The Government published this morning a decree stipulating the bank closures and Exchange during a week limited to 60 euros daily withdrawals at ATMs effective , but keeps open the possibility of card payments and all transactions by domestic internet.
Payments abroad are limited to urgent needs such as payment of medical bills or buying drugs.
The measures tourists who may conduct transactions and withdrawals at ATMs using credit cards or debit cards issued in their country of origin.
AFP and EFE
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