Greece shuts banks until July 6

It’s not business as usual in Greece this week.

Banks in Greece are closed until July 6 in an effort to prevent collapse. The measures were announced Sunday as the country’s financial system approached default and an ultimate exit from the eurozone.

CNNMoney reports European leaders are now facing one of the worst moments in the history of the euro. The trigger for the rapid escalation in the crisis was the Greek government's decision late Friday to pull its negotiators out of bailout talks. The European Central Bank said Sunday it would provide no new emergency support to Greek banks.

As of now, withdrawals are limited to 60 euros, or about $67. The stock exchange will remain closed for the same period.

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