Markit Economics released its manufacturing purchasing managers' index (PMI) for Greece on Tuesday. Greece's manufacturing purchasing managers' index (PMI) declined to 48.4 in February from 50.0 in January.

Output and new orders fell in February, while input prices showed the biggest drop since January 2009.

"The key areas covered by the survey provided alarming indicators on the current health of the Greek manufacturing sector. Output contracted further amid a solid decline in incoming new work, while job cuts were evident after another substantial deterioration in outstanding business levels was reported," Markit economist Samuel Agass said.