Greece will still need help

Recession continues in Greece, which has lost 25% of the GDP in the last six years, following the country's need for a new financial aid from the euro zone in the next two years, said the head of the IMF's European department, Reza Moghadam, according to Reuters.

"The need for funding for the next two years remains very high. Support will still be needed," said Moghadam in the context of a press conference in the annual meeting between World Bank and IMF, which takes place in Washington.

The government in Athens has attracted funding of €3 billion through the issuance of bonds for five years, at a cost below expectations, of 4.95%, surpassing the initial target amount of €500 million in an operation oversubscribed about eight times.

Greece has ongoing external financing agreement with the EU and the IMF. The value of the agreements signed in the past four years amounted to €240 billion.

The state has crossed the broadest debt restructuring in history and applied harsh austerity programs, in order to reduce the budget deficit and push the debt on a downward slope. The Greek government managed to pass last year's primary budget surplus.