REUTERS/Yannis BehrakisIt 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.