Banks in Greece stayed shut on Monday as officials scrambled to prevent the country’s financial system from collapsing in panic.
Account holders were also facing tough limits on what they can withdraw from ATMs, and trading in Greek stocks and bonds was also halted.
The measures were announced Sunday as Greece slid rapidly toward default and exit from the eurozone.
Greece’s troubles will affect us all as the world’s markets react, but it is also a cautionary tale. Yes, an entire’s country’s economy can collapse if the government is financially reckless.