Greek banks close as debt crisis continues | WBEZ
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Greek banks close as debt crisis continues

Banks in Greece closed Monday. The government of Greece is trying to prevent the Greek financial system from collapsing by preventing Greeks from withdrawing all their funds in a panic. Greeks are now also limited on how much money they can withdraw from ATM machines and businesses are limited in the transactions they can do. It’s known as capital control. Greek Prime Minister, Alexis Tsipras, has called for a referendum on July 5th to allow the Greek public to vote on whether or not it wants to remain in the European Union. Endy Zemenides, executive director of the Hellenic American Leadership Council joins us from DC, where he has been lobbying the US Congress to push for a deal that has sustainable debt levels for Greece. (Flickr/Elias Bizannes)

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