Greece Shutters Banks, Stock Market

Prime Minister Alexis Tsipras announced in a televised address on Sunday night that Greece’s banks and stock market will be closed on Monday, while banks will remain closed for six days. There will also be restrictions placed on money transfers and cash withdrawals will be limited to $66 a day during this period, according to a government decree published late Sunday. The decision comes just hours after the European Central Bank said it will not expand the emergency loan program for Greek banks. Tsipras called the central bank’s move “blackmail." Meanwhile, London, Paris and Frankfurt stock markets fell sharply in early trading on Monday.