ATHENS: Economic powerhouses Germany and China warned Greece on Thursday against reneging on reforms tied to its massive international bailout, with markets still jittery over fears Athens could default on its debt. Germany, which has shouldered most of the multi-billion-euro EU rescue plan for Greece, said the country's new anti-austerity government could not make changes "to the detriment" of other European citizens.

China, which has a major investment in the main Greek port of Piraeus, said it was "highly concerned" after the government of 40-year-old Prime Minister Alexis Tsipras abandoned plans to privatise the harbour, one of Europe's busiest.

On its first day of business Wednesday, Tsipras' "national salvation" administration rolled back several austerity reforms, including the privatisation of the ports of Piraeus and Thessaloniki, main electricity provider PPC and petroleum refiner HELPE.

Tsipras, leader of the Syriza party which swept to victory in Sunday's election, also underlined his determination to achieve sweeping cut in debts stemming from Greece's 240-billion-euro ($269 billion) bailout programme.

The announcements sent Greek stocks diving by more than 9.0 percent on Wednesday, with major banks losing more than a quarter of their value on a turbulent day.

However, the Athens market was up 3.2 percent on Thursday, with banks jumping 12.59 percent after reassuring comments from a European Central Bank official.

But London and Frankfurt were both down following declines in Asia over a strengthening dollar and falling oil prices.

European Parliament head Martin Schulz will hold talks with Tsipras on Thursday, the first leading European official to get a closer view of a government determined to reverse many of the unpopular austerity measures that underpin the bailout.-AFP