(MENAFN- AFP) A member of Germany's central bank, the Bundesbank, warned Athens on Tuesday of "fatal consequences" for the Greek banking system of a halt to the country's bailout programme.
"If the continuation of the programme of aid for Greece is called into question... Greek banks would lose access to central bank funds," Joachim Nagel said in an interview to appear Wednesday.
"It would have fatal consequences for the Greek financial system," Nagel, a member of the Bundesbank's Executive Board, told the economic daily Handelsblatt.
Greece's new Prime Minister Alexis Tsipras won weekend elections on promises of reversing crippling belt-tightening measures and restructuring the country's debt mountain, which represents 177 percent of gross domestic product (GDP).
The EU has set the end of February as the deadline for Greece to carry out more reforms in return for a seven-billion-euro ($7.8-billion) tranche of financial aid from the 28-member bloc and the International Monetary Fund.
Tsipras has dismissed the deadline as meaningless.
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