REPORT: Greece's stock market will be closed for at least a week

Greece athens stock exchangeREUTERS/Yannis BehrakisInside the Athens stock exchange building.

It looks like Greece’s stock market is going to be closed for a week.

According to a report from the English version of Greek newspaper Kathimerini, the Athens Stock Exchange is going to be closed for a week.

Kathimerini reports that, “The Capital Market Commission is expected to announce in the early hours of Monday the closure of the Greek stock exchange for at least a week, as financial activity in the country grinds to a halt.”

Banks were already expected to be closed for a week.

As a result, Kathimerini reports, the closure of banks will limit the ability to process transactions on exchanges, and so it is unlikely that stock markets will re-open until the banks do.

On Sunday night, Greek prime minister Alexis Tsipras said that Greece has sought a short bailout extension, as the country’s current program is set to expire on Tuesday while Greece has called for a referendum on the matter for July 5.

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