(VOVworld) - The European Central Bank (ECB)’s new decision to cut off Greek banks’ access to key source of cash will not affect its financial factor.

Yanis Varoufakis (right), Greece's finance minister, with Prime Minister Alexis Tsipras (Photo: AP)

According to a statement by the Greek Ministry of Finance, Greece’s financial sector is still well prevented and other credit sources are available. The statement came just hours after Greek Finance Minister Yanis Varoufakis held his first talks with ECB chief Mario Draghi in Frankfurt, Germany.
Though Athens showed their optimism after the talks, ECB said it would no longer allow Greek banks to use government debt, which has a junk rating, as collateral for loans.
ECB said prospect to renegotiate 240-billion euro bailout for Athens is uncertain and called on Greek banks to use other stocks as collateral for loans. Stock markets fell on the news, while the euro tumbled by more than one percent against the dollar.