By Jonathan Davies

Greece has officially entered another recession after its economy shrank by 0.2% in the first quarter of 2015.

It follows a contraction of 0.4% in the final quarter of 2014. Greece only exited a six-year recession last year.

It adds to a growing list of financial and economic problems faced by the Greek government. It will add to concerns from the so-called Troika, the eurozone, European Central Bank (ECB) and International Monetary Fund (IMF) that have funded Greece's €240 billion bailout package.

Greece's creditors are already seeking a number of economic reforms as some sort of insurance for future bailout deals.

Yesterday (Tuesday), Greece's finance minister Yanis Varoufakis said that the country was two weeks away from a full-blown cash crisis.