Nov. 1 (Bloomberg) -- The BdB Association of German Banks said Greek Prime Minister George Papandreou’s planned referendum on European Union rescue efforts has led to “significant” uncertainty on financial markets.

“Important, detailed planning after the euro summit will now be delayed or, in the worst case, put on ice,” Michael Kemmer, the BdB’s general manager, said today in an e-mailed statement. “It is also completely unclear what would happen if the Greek people reject the rescue package.”

To contact the reporter on this story: Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net

To contact the editor responsible for this story: Nicholas Comfort at ncomfort1@bloomberg.net