Calamos Supports Greece

ECB

Piraeus Bank Takes Over Ailing ATEbank

ATHENS – The Greek government has agreed to hand over the performing loans and healthy assets of nearly-insolvent state-run ATEbank to the privately-run Piraeus Bank to keep it from closing, but the toxic assets will be given to the...

ECB, Eurozone Taxpayers Could Get 30% Greek Haircut

ATHENS – After stiffing private investors for 74 percent losses earlier this year on their holdings in Greek bonds, Greece may also give a so-called “haircut” of 30 percent losses to the European Central Bank (ECB) and the 16...

Greece Set to Slash Health Care, Welfare, Pensions, Salaries

ATHENS - Backtracking from campaign promises to hold the line on more austerity measures, Prime Minister Antonis Samaras was set to meet on July 27 with international lenders providing critical bailouts to Greece as his government is reportedly ready...

Barroso Tells Samaras: We Want Results, Not Words

ATHENS – European Commission President Jose Manuel Barroso, in his first visit to Greece in three years, told new Prime Minister Antonis Samaras that international lenders want results in implementing more reforms if the country wants to keep rescue...

Another Delay in Deciding $15 Billion in Budget Cuts

ATHENS – After vowing during the campaign before the June 17 election to hold the line on more austerity measures demanded by international lenders in return for bailouts, Greek Prime Minister Antonis Samaras’ uneasy coalition government has reportedly agreed...

September Crunch Time for Greece With Troika's Return

ATHENS – The seemingly endless saga of the rule of international lenders over Greece’s economy will take a summer hiatus but will pick up again in September when inspectors from the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) Troika...

Samaras Changes His Mind Again: No Bailout Renegotiations

ATHENS – Greek Prime Minister Antonis Samaras, who during the campaign before the June 17 elections said he would seek renegotiations of bailout deals with international lenders – but after being elected said he wouldn’t – then said he...

Greece Considers New Amnesty Program for Tax Cheats

ATHENS – The new coalition government led by Prime Minister Antonis Samaras’ New  Democracy party is mulling whether to offer a new amnesty to tax evaders in  a bid to bring in about 1.5 billion euros, or $1.81 billion...

Troika Return to Athens to Assess Progress

The troika returns to Athens today to begin an assessment of the second multi-billion euro bailout for Greece. It is widely expected that officials from the European Commission, European Central Bank and the International Monetary Fund will find that Greece...

Germany, Troika, Squeezing Greece Toward Eurozone Exit

ATHENS – With the arrival of inspectors from international lenders in Greece this week to check on the progress of delayed reforms, speculation is growing that the country is inevitably heading toward an exit from the Eurozone of the...