Greek Economy A Mess With A Run On Banks

Greece’s five-year financial crisis took its most dramatic turn to date Sunday, with the cabinet deciding, after an 8-hour session, that Greek banks would remain shut for six working days and restrictions would be imposed on cash withdrawals. The Athens Stock Exchange would also not open on Monday, financial sector officials confirmed.

Withdrawals from ATM with credit or cash cards will be capped at 60 euros ($66) daily. The crisis is expected to rock financial markets around the world, including here on Wall Street.

ABC’s Scott Goldberg joined us from New York to discuss.