Western Union shuts doors in Greece

Greek financial system on verge of collapse
Greek financial system on verge of collapse

Western Union has suspended its business in Greece this week as officials scramble to try and keep the country from financial collapse.

Western Union (WU)said it closed on Monday "and will remain as such for the duration of this week at a minimum."

The Colorado-based money-transfer company is not alone. Greece's stock market and banks were closed Monday and ATM withdrawals have been limited as well.

Western Union noted that it had not seen any significant outflow of funds in the last two months.

"Western Union has not seen any significant peak of change in our outbound business from Greece over the course of the past 60 days," the company said. "Our inbound business is, however, seeing an upswing."

western union greece
Western Union has shut its doors in Greece as officials work feverishly to try and avoid default.

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