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Monday, June 29, 2015

Greece is not able to pay its debt; currency crises deepen

By on Monday, June 29, 2015
Greece Government closes all banks till 6th next month 

Greece Government has ordered on Monday to close all the banks till 6th of July and now the ATM will deliver  the limited withdrawal of money. 
The president of Greece, Alexis Tsipras, has declared to hold the referendum on July 5th.
 The rise and fall in share markets till next few days  may be seen in the whole world.  The Euro declined 2 percent after the decision of Greece Government; and all the share markets in Asia has also faced the fall. 
The experts has  now ratified that the Greece currency may be out of Euro. The Greece Government till Tuesday will have to pay the debt of IMF. It is evident that Greece is not able to pay the debt. Therefore the Government has proclaimed to hold a referendum on the issue till July 5th. 
The banks of other European countries after this decision by Greece have stopped being given Line of Credit to it.  The Government seeing the grave crises on the Banks of Greece has ordered to close till the referendum in this situation.
 According to the Government, the Bank ATM can deliver only 60 Euro.  Long queues of people were seen to withdraw the money from ATM after the decision of  Government in the whole country.  

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