As their government scrambled to pull together a new package of proposals to take to Brussels, Greeks have been hit with more bad news: their banks will stay shut until at least Thursday – and may run out of cash altogether by the end of the week.
The day after Greece voted to reject Europe’s previous austerity-themed rescue package for the near-bankrupt country, the joy of “no’ voters was quickly tempered by signs that their economic woes are set only to get worse, at least in the short term.
Monday began with the surprise resignation of finance minister Yanis Varoufakis, the confrontational economics professor who proved a necessary sacrifice in bringing Europe and Greece’s creditors back to the negotiating table.
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