The Frankfurt Stock Exchange was down 4.23 percent; Paris, 4 percent; London, 2.15; Madrid, 4.38; and Milan, 4.33.
Meanwhile, the Athens stock exchange closed until July 6 and will reopen on Tuesday, July 7, like banks, announced the Greek capital market commission.
“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 Directors of the Athens Stock Exchange held on Monday.
The Greek government yesterday adopted a series of capital control measures to protect the domestic banking system.
Meanwhile, the euro fell to $ 1.1081, after being below 1.10 dollars in the Asian market, up from $ 1.1160 in New York Friday.
The debt market was also affected, and the rate of coupon 10-year Greek debt rose to 14,574 percent, a record since 2012.
In Spain, the rate on 10-year bond rose to 2.317 percent compared to 2.110 at the close Friday, as in Italy where these bonds totaled 2,350 by one percent from the 2,150 on Friday.
“The Greek butterfly seems to be about to cause a storm in the financial markets,” said Michael Hewson, analyst at CMC Markets.
Some Analysts, such as the Swedish bank Nordea, considered premature the possibility of a Greek exit from the euro zone.
“The ‘Grexit’ has begun but, with the help of the ECB, will not be contagious for the rest of the eurozone, “said Bruno Cavalier, chief economist at Oddo Securities.
The Asian markets also suffered a setback as a result of the Greek crisis.
Shanghai ended a fall of 3.34 percent; Tokyo, 2.88 percent; Sydney, 2.23, Seoul, 1.42; and Taipei, 2.39.
The Stock Exchange of Hong Kong fell by 3.63 percent before recovering somewhat and registered a decline of 2.55 percent.
On Friday, Prime Minister Greek, Alexis Tsipras, announced a referendum on the demands of its creditors, scheduled on July 5, after five months of negotiations with the European Union (EU), the European Central Bank (ECB) and International Monetary Fund (IMF).
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