Germany: No basis now for new debt talks with Greece

Germany said Monday that there was currently "no basis" for talks with Greece on a new bailout package or debt relief, following a resounding 'No' in a referendum on creditors' proposals, France 24 reported Monday.

"In light of yesterday's decision by Greek citizens, there is no basis to enter into negotiations on a new aid programme," German Chancellor Angela Merkel's spokesman Steffen Seibert said.

Regarding requests by Athens to restructure its debt, finance ministry spokesman Martin Jaeger said: "I can see no reason to enter into discussions."

Greece had been locked in negotiations with its creditors for months when the Greek government unexpectedly called a referendum on the terms it was being offered.

Banks have been shut and capital controls in place since last Monday, after the European Central Bank declined to give Greece more emergency funding.