Greece economy in sharp downturn over past 3 months: EU

Brussels: Greece's economy suffered an alarming slump in the first three months of 2015, the European Commission said on Tuesday, in a dangerous development as Athens continues to battle its EU-IMF creditors.

In its Spring forecasts, the EU executive slashed its overall 2015 growth forecast for Greece to 0.5 percent, a huge reduction from its earlier prediction of 2.5 percent.