The Bank of Greece said in its annual report on Wednesday that failure to reach a deal with creditors could lead to the exit from the Eurozone and to crisis in Greece.

"The conclusion of a new agreement with our partners is of the utmost importance to fend off the immediate risks to the economy, reduce uncertainty and ensure a sustainable growth outlook for Greece. Failure to reach an agreement would, on the contrary, 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 central bank said.

The Bank of Greece urged to the Greek government to reach a deal.