Western Union says it will suspend money transfer services in Greece as the country deals with the government's decision to shut down all banks and the stock market for six business days.

The government also placed restrictions on ATM cash withdrawals.

Western Union is expected to halt service to Greece at least through the end of the week to coincide with the country's plans for a referendum to address creditor proposals.

Prime Minister Alex Tsipra decided that the referendum should be put in front of Greek voters as part of a plan to receive bailout funds from the European Union. That referendum would take place on July 5.

Western Union has not reported a significant increase in customers wiring money out of Greece.

Rather, the Colorado-based money transfer company is "seeing an upswing" in inbound money transfers into the country and plans to monitor the situation in Greece to determine when service can begin again, Western Union stated in a CNN Money report.

The debt crisis in Greece has created an international stir, with many speculating that Greece could drop out of the continent's eurozone.

It appeared the prime minister's decision to call for a referendum did not sit well with European Union leaders.

Those leaders declared June 27 that the referendum in effect closed the door on any chances the country could broker a deal to save Athens from default and the possible exit from the eurozone, according to an AFP report.

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