Greece talks must yield imminent agreement, says European Central Bank

ECB chief, Mario Draghi, sounds warning as Athens and its creditors remain deadlocked, with markets getting jittery over fears of default

Mario Draghi, the president of the European Central Bank, has warned that time is rapidly running out to resolve the Greek debt crisis, as financial markets took fright at the prospect of a looming default. Shares fell across Europe after the latest breakdown in talks between Athens and its creditors diminished hopes of a deal being agreed at a meeting of eurozone finance ministers in Luxembourg on Thursday.

Giving evidence to the European parliament in Brussels, Draghi said: "We need a strong and comprehensive agreement with Greece. And we need it very soon." His remarks came amid evidence of the fragile state of Greece's banks, where the pace of deposit withdrawals increased to a400m (289m) on Monday.

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