Greece’s Central Bank has warned for the first time that the country could be on a “painful course” to default and exit from both the eurozone and the European Union (EU).
This comes as the Greek Government and its international creditors blamed each other for failing to reach a deal over economic reforms.
The failure is holding up the release of 7.2 billion euros in bailout funds.
The Central Bank also warned that the country’s economic slowdown would accelerate without a deal.
The warning from the Central Bank follows comments from European Commission’s President, Jean-Claude Juncker, who had earlier accused the Greek Government of misleading voters.
The Greek Prime Minister, Alexis Tsipras, also accused the EU and International Monetary Fund (IMF) of trying to “humiliate” his country.