Calamos Supports Greece

Eurobank

Bank Deposits in Greece Reach Two-Year Low in December

A new two-year low reached bank deposits in Greece in December, as Greeks withdrew some 4.6 billion euros in a period stigmatized by political uncertainty due to the unsuccessful election of a new President of the Hellenic Republic and...

Greek Systemic Banks Request Inclusion in ELA

Greece's central bank has moved to protect its banks from any fallout from the coming general election, asking the European Central Bank to approve a stand-by domestic emergency funding line, a Bank of Greece official said on Saturday. "We have...

Anarchist Group Claims Responsibility for Failed Bomb Attack

A group named “Anarchist Attack Consortium” claimed responsibility for the failed terrorist attack against a bank in Chalandri, Athens. In a notice posted on the Greek website Indymedia, the group states that it was an action related to the hunger...

Greek Banks to Implement Law on 'Bad Loans'

Greek banks are ready to implement the law on "bad loans." This emerged after today's meeting at the government headquarters between Prime Minister Antonis Samaras, government Vice President Evangelos Venizelos, Finance Minister Gikas Hardouvelis, Alternate Finance Minister Christos Staikouras,...

No Surprises in Greek Banks' ECB Stress Test Results

Three out of four systemic banks in Greece have failed their ECB stress tests. The results aren't entirely devastating, however, since the banks' capital needs are minimal and the European Central Bank is willing to re-examine the banks' dynamic balance sheets. “Greece’s Eurobank...

Piraeus Bank and Alpha Bank Pass ECB Stress Tests

According to market estimates, Alpha Bank and Piraeus Bank passed their stress tests with ease. These estimates remain to be confirmed by an official statement, to be released on Sunday. Earlier today, Reuters reported that Alpha Bank has passed the stress...

Alpha Bank Sheds 21% of Staff Via Voluntary Exit Plan

Greece's fourth-biggest bank, Alpha Bank, announced on Monday that approximately 21% of its 10,000 employees will enter a voluntary exit plan that was launched last month, aiming to cut costs. Alpha Bank's target is to cut 15% to 20% of its workforce in order to...

IOBE Says Greek Economy Will Grow by 0.7%

The Foundation for Economic and Industrial Research (IOBE) reported on Wednesday that the Greek economy should grow by 0.7% this year but the increasing unemployment rate is likely to drop less than originally estimated. IOBE, Greece's leading economic think tank, had earlier predicted a small growth for...

Rivals Ridicule Samaras Cabinet Shakeup

Greek Prime Minister Antonis Samaras' revamped Cabinet, which still includes most of the familiar faces of his ruling New Democracy Conservatives and partner the PASOK Socialists, was dismissed by his rivals as a desperate attempt to regain standing after...

All The Names Of The (Partially) New Greek Government

Greek Prime Minister kept most of his Cabinet intact on June 9, but shook it up a bit in the wake of his New Democracy Conservatives taking a beating in the European Parliament elections to the major opposition Coalition...