Calamos Supports Greece

Politics

With Privatization Lagging, Greece Ready to "Burn the Furniture"

ATHENS – As Greece struggles to save its economy by cutting workers’ pay to the bone, raising taxes to the limit, slashing pensions and preparing for the firing of 150,000 workers, a big revenue-raiser – privatizing state-owned entities and...

Greek Snap Election Likely to Be Held on May 6

"No decision has been taken yet but May 6 is a very probable date for the elections," the official, who declined to be named, told Reuters. There was no official confirmation of the election date. Lucas Papademos' technocrat coalition government...

Disputed Reports that Troika Wants More Spending Cuts

ATHENS – Even two bailouts totaling $324 billion to save Greece haven’t been enough because of an old bugaboo – tax evasion – and international lenders reportedly have again insisted that tax cheats costing the country more than $72...

EU Commission Denies Reports of New Troika Talks on Greek Cuts

The European Commission on Monday denied Greek media reports that officials from the country's international lenders were in Athens for talks on further budget spending cuts to meet bailout-dictated fiscal targets. Spokesman Amadeu Altafaj said he was aware of reports...

Merkel Says Greece Must Not Leave the Eurozone

Renewing fears that even a second bailout might not keep Greece’s economy from failing, German Chancellor Angela Merkel said she nonetheless wants the country to stay in the Eurozone of the 17 members using the euro as a currency,...

EU's Chief in Athens Upbeat Over Greece's Chances

ATHENS – While even a second bailout hasn’t quelled much skepticism that Greece’s economy can survive, the head of the European Union’s task force to the country said he thinks that the country is making progress on how it...

IMF Says It's Not Over Yet for Greece

ATHENS – Even as Greece breathes a sigh of relief that it is getting a second bailout – this one for $172 billion, and a $134 billion write-down in debt – comes a warning from one of its international...

Socialists Rise Slightly After Leader Elections-Polls

Support for Greece's Socialist party has risen slightly following the election of a new leader of the party this month, three public opinion polls showed Saturday, but the conservative New Democracy party continues to hold a wide lead over...

Theodoros Pangalos is Retiring

Greece’s deputy prime minister, who made headlines by saying that ordinary citizens are just as responsible as politicians for his nation’s economic crisis, announced Saturday that he will not seek re-election. An early election is expected in May, and Theodoros...

From George to Vangelis: Does PASOK Really Stand A Chance?

The white background with a green line, chosen as the background for his first statement as the new PASOK leader, is a good first indication on how Evangelos Venizelos plans to manage the leadership of his party. But the answers he gave in his first interview showed that the new «white page» Mr. Venizelos...

Greek Private Sector Salaries Now Being Cut Too

ATHENS – Less than two months after Greece’s hybrid government agreed to cut pensions and the minimum wage to satisfy international lenders and avert cuts in private sector salaries, companies are – as analysts predicted – cutting their workers’...

Fofi Gennimata Appointed New PASOK Spokesperson

The new President of PASOK, Eleftherios Venizelos, appointed today Fofi Gennimata as the new spokesperson of the party. Mrs. Gennimata is the first choice of Venizelos to staff the party after his election last Sunday. The choice of Mrs. Gennimata...

Parliament Could Have Eight Political Parties, Poll Shows

Greece’s parliament may contain as many as eight political parties after the next election with none gaining an absolute majority, an opinion poll shows. The New Democracy party, led by Antonis Samaras, is the second largest in parliament and would...

Despite Economic Crisis, Greece Is EU's Biggest Arms Buyer

ATHENS – With no real potential enemies apart from NATO ally Turkey and the tiny neighboring country of FYROM to its north, Greece was still Europe’s biggest importer of weapons from 2007 to 2011, despite an economic crisis which...

Papademos Appoints Sachinidis as Finance Minister

Filippos Sachinidis, who has served as the deputy and then alternate minister at Greece’s finance ministry since 2009, will be the new finance minister, replacing Evangelos Venizelos, who stepped down to lead the socialist Pasok party. Sachinidis, who will be...