Calamos Supports Greece

bankruptcy

Corporate Bankruptcies Down 15.8% in Greece in 2014

  Company bankruptcies in Greece slowed to 330 in 2014, from 392 in 2013, for a decline of 15.8%, the second biggest percentage decline in European south after Spain, a survey by ICAP Group, a member of the Federation of...

German Economic Advisers Propose Bankruptcy Mechanism Within the Eurozone

On Tuesday, the German "wisemen," five independent economic advisers, argued in favor of creating a mechanism that would allow Eurozone countries to go bankrupt, Reuters reported. "To ensure the cohesion of the monetary union, we have to recognize that voters...

Greek Main Opposition Leader: 'The Government Lied and Bankrupted the Country'

Greek main opposition leader Antonis Samaras strongly criticized Greek Prime Minister Alexis Tsipras in a brief televised address on Wednesday, blaming him for closing Greece’s banks. "He did not have the bravery to admit he is the one who signed...

Greece Is the Only Developed Country that Defaults on the IMF

After defaulting on its payment to the International Monetary Fund (IMF) at 1:00 am on Wednesday, Greece became the first developed country that failed to meet its financial obligations to the Fund. Greece has officially joined Zimbabwe, Somalia and war-torn Sudan...

U.S. Treasury Sec: Greece Must Make Tough Decisions to Reach Deal

The Greek government must make tough fiscal decisions to reach an agreement with international creditors, or it risks catastrophic consequences for its economy and people, U.S. Treasury Secretary Jack Lew said in an interview released on Saturday. "I think we’re...

Where Do Greeks Keep Their Money Instead of the Bank?

The threat of bankruptcy and  aGrexit after the failed negotiations between Greece and lenders and the scenarios of potential capital controls has led many Greeks running to the banks to withdraw deposits and savings. In the last four days, 3...

London Warns Tourists Visiting Greece to Take Enough Cash

While the whole world has turned its attention to the political and economic development revolving around the Greek crisis, the UK government took a step further and developed an emergency plan to help British tourists travelling to Greece, in...

FT: Greece Can Say No to Creditors Without Catastrophic Consequences

"Greece has nothing to lose by saying no to creditors," is the title of an analysis by The Financial Times that says bankruptcy and a subsequent Grexit would not be catastrophic after all. According to the article, Prime Minister Alexis...

Foreign Travel Agencies Add Greek Default Clause in Contracts

Fears that Greece’s negotiation with its creditors will not be fruitful have impacted the country’s political and economic sector, but also tourism. Foreign travel agencies have already demanded Greek hoteliers to sign a Greek default clause. Specifically, organizers of international conferences have...

Ifo Chief: Bankruptcy Is Better for Greece and Europe

Europe must let Greece exit the euro zone and go bankrupt because that would be the best for both, said President of Germany's Ifo Institute for Economic Research Hans Werner-Sinn. Speaking to CNBC on Monday, the German economist said that...