Greek crisis shakes global markets

Athens shuts banks and imposes capital controls

Euro sign outside the European Central Bank in Frankfurt

The European financial crisis reached a new peak on June 28, with the Greek government's decision to shut down its banks for at least a week and impose capital controls in an attempt to avoid the collapse of its financial system.

Measures include a tight limit on withdrawals of funds to €60 per day ($67), and a ban on payments and transfers abroad.

The decision to close the banks came at the end of yet another tense chapter in the long-running battle between Greece and its creditors. On Friday

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