Referendum call finds Greek banks teetering on the edge

Economy Tags: Banking
Photo by MacroPolis
Photo by MacroPolis

The Eurogroup rejected on Saturday the Greek government’s proposal for a one-month extension of the current bailout programme, which expires on June 30, Greek banks are facing a dramatic situation.

The challenge to the Greek banking system was immediately visible following Greek Prime Minister Alexis Tsipras's televised address announcing in which he proposed a referendum for Sunday, July 5 on the proposals put forward by the institutions.

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