Greece, EU flags Greece’s central bank has warned for the first time that the country could be on a “painful course” towards default and exit from the eurozone. It comes as the Greek government and its international creditors blamed each other for failing to reach a deal over economic reforms. That failure is holding up the release €7.2bn in bailout funds. About €30bn was withdrawn from Greek bank deposits between October and April, the central bank added. The central bank also warned the country’s economic slowdown would accelerate without a deal. “Failure to reach an agreement would… mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country’s exit from the euro area and, most likely, from the European Union,” the Bank of Greece said in a report. “Striking an agreement with our partners is a historical imperative that we […]