(AGI) Rome, July 6 - European markets dropped on Monday afterGreeks voted "No" in the referendum on the bailout conditionsfor Athens. The session had already opened with all stockexchanges in the red; Milan's Piazza Affari closed with theworst results. With a weighty banking sector, the FTSE MIB fellby 4.03 percent to 21,600 points, the first time it closedunder 22,000 points since February, while the All Share droppedby 3.85 percent to 23,099 points. In the banking sector, MPSlost 11.51 percent, Unicredit 6.12 percent, and Intesa Sanpaolo5.98 percent. All sectors, from industry to energy, closed withlosses. Only STM closed higher, gaining 1.72 percent.Frankfurt's Dax dropped by 1.65 percent to 10,875.80 points,London's FTSE 100 by 0.78 percent to 6,534.48 points, Paris'sCac 40 by 2.01 percent to 4,711.54 points, and Madrid's Ibex by2.14 percent to 10,548.7 points. The spread between 10-yearItalian BTPs and German Bunds increased to 163 basis pointsfrom under 150 points. The spread between Bunds and SpanishBonos closed at 161 points. Greek banks stayed closed onMonday, with rumours that they would remain closed till Fridayor even next Monday eventually being dispelled by the presidentof the association of Greek banks, Louka Katseli. Katseli saidthe closure would be extended to Wednesday. The daily ATMwithdrawal limit of 60 euros remained in place. The EuropeanUnion is still waiting for "new proposals" from the Greekgovernment and the "doors remain open for negotiations", AngelaMerkel's spokesman said. However, he added, Berlin does notfeel that conditions are ripe for the talks to resume or todiscuss a third aid package. The spokesman for Germany'sFinance Minister Wolfgang Schauble said Berlin "does not intendto change its budget programs" and that cutting Greece's debt"is not on the agenda". (AGI). .