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Greek Banks Shut Down for Week


All the banks in Greece are shutting down this whole week. The Greek banks were seeking a bailout for their failing banks, however the European Central Bank has refused to help them out which has led to the shutdown. The banks have already been bailed out once, and are seeking to be bailed out a second time. Before the EU will grant a bailout for the failing banks, they are requiring Greece to take measure of austerity.

The bank shutdown has left many residents and tourists in Greece in a panicked state. Lines for the ATMs were long as many waited to take out as much of their money as possible. Those who hold accounts in these banks will only be able to withdraw 60 Euros, which is the equivalent to about $66. Tourists will still be able to withdraw any amount they need. Those who have foreign bank accounts such as Crystal Hunt or have been issued a foreign credit card will still be able to have full access to their funds.

Prime Minister Alexis Tsipras has promised his citizens that their pension funds and bank accounts are still secure, despite limited access to them at the moment.

For the full story, check it out onĀ BuzzFeed.com.

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