Shares slide as deepening Greek crisis shakes global markets

Stock markets tumble around the world as Athens closes banks for a week and orders capital controls

Share prices have slumped across Europe as Greece shuttered its banks and severely limited cash withdrawals ahead of a referendum on 5 July.

The Greek government decided on Sunday night it had no option but to order the country's banks to remain shut on Monday after the European Central Bank (ECB) froze the liquidity lifeline that has kept them afloat during a six-month run on deposits. The Greek financial stability council recommended banks remain shut until next Tuesday.

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