European Union financial experts say that if Greece’s voters reject a referendum on the nation’s debt this Sunday it would mean the nation leaves the Euro.
Greece shut down the nation’s banks on Monday after a weekend run on ATMs caused many to run out of cash. A strict limit on ATM transactions has been put in place by the government through Thursday.
The shut down of banks and the stock markets in the nation will last at least through the Sunday vote.
Greek leadership was defiant in the fact of default and the EU no longer providing bailout funds to the nation.
“The decision not to prolong financial aid to Greece is offensive, and it’s a disgrace for Europe in general,” Greek Prime Minister Alexis Tsipras said in a national address.
The country’s poorer neighbors, however, are showing little sympathy for Greece’s plight.
“We are much poorer than the Greeks but we have performed reforms,” Rosen Plevneliev, the president of Bulgaria said. “When you have a problem, you have to address it and not shift it to Brussels or onto somebody else.”
The country’s actions have carried negative impact on world financial markets. World stock markets all took sharp dives at their openings which carried throughout the day; the euro tumbled on world currency markets.