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Global stock markets fall as Greece shuts stock exchange and banks

Joanna Faith
Written By:
Joanna Faith

Global stock markets have seen big falls after Greece said its stock exchange will be shut on Monday and banks closed for the rest of the week.

The FTSE 100 index fell more than 2% in early trading, while Germany’s Dax index and France’s Cac 40 were both down more than 4%.

Overnight, Japan’s Nikkei index fell nearly 3%.

The move by Athens to shut the stock exchange and banks followed a decision by the European Central Bank not to extend emergency funding to the country.

Greece has also imposed a €60 per day limit on ATM withdrawals, although foreign tourists are exempt from these restrictions.

The country is due to pay a €1.6bn debt repayment to the International Monetary Fund on Tuesday, the same day its current bailout agreement expires.