The euro managed to find a footing during the European AM session after plunging in early Asia in response to news that Greece's talks with the Eurogroup broke down, with the ECB refusing to top up ELA assistance. Greece has consequently imposed capital controls and announced a referendum for next Sunday, which will determine whether the electorate has the stomach to exit the euro. Polls suggest that the people of Greece would rather compromise to stay in the euro than exit, but markets will remain on tenterhooks this week ahead of the referendum.
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