Greek Central Bank Issues Warning

03:53

June 17, 2015

Greek Prime Minister Alexis Tsipras talks to the media as he leaves after he participated in a bilateral meeting with European Commission President Jean-Claude Juncker on the sidelines of the EU meetings in Brussels on Thursday, June 11, 2015. (Geert Vanden Wijngaert/AP)

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.

The warning comes as the Greek government and its international creditors blamed each other for failing to reach a deal over economic reforms. The parties are meeting in Brussels this week to try to hammer out a plan to keep billions of dollars in bailout funds flowing to the cash-strapped country.

The BBC's chief economic correspondent Andrew Walker joins Here & Now's Jeremy Hobson with details about Greece's financial situation.

Note: This BBC interview can be heard in the Here & Now podcast or with the WBUR app.

Guest

Andrew Walker, chief economic correspondent for the BBC, based in London. He tweets @thatandywalker.

This segment aired on June 17, 2015.

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