"On Monday morning Greeks will find their savings blocked and their banks closed for a week following a fateful weekend that has shaken Europe’s single currency."
See also: The world is defenceless against the next financial crisis, warns Bank of International Settlements.
The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises, the Bank of International Settlements has warned. The so-called central bank of central banks launched a scathing critique of global monetary policy in its annual report. The BIS claimed that central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies.