Calamos Supports Greece

Greek Banks

'Grexit' Is Passe, Citigroup Introduces 'Grimbo' to Crisis Lexicon

Forget the monotonous term "Grexit" that has occupied thousands of newspaper pages throughout the years of the crisis, Citigroup Inc. economist Ebrahim Rahbari adds yet another word to the recession's lexicon. It was him that in 2012 coined the term...

Neighboring Countries Put Greek Bank Subsidiaries in Quarantine

Neighboring countries put Greek bank subsidiaries in quarantine in fear of contagion should there be an economic "accident" in Greece, a "Kathimerini" report said. The central banks of Albania, Bulgaria, Cyprus, Romania, Serbia, Turkey and FYROM have all forced the subsidiaries...

ECB Raises Greek Banks' Emergency Liquidity Cap by 800 Mln Euros

The European Central Bank (ECB) has raised the cap on Emergency Liquidity Assistance (ELA) available to Greek banks by 800 million euros late on Tuesday. The increase takes the ELA ceiling to 74 billion euros (from 73.2 billion last week,...

ECB to Raise Emergency Liquidity Assistance to Greece by 2 Bln Euros

The European Central Bank (ECB) has decided to raise the Emergency Liquidity Assistance (ELA) to Greek banks. The ECB will increase funding from 68.9 billion euros to over 71 billion. The increase is the biggest this month and means the cap...

Critical Dates for Greece's Financing Set in the European Summit

French newspaper Le Monde published a very informative article, regarding Greece’s financing until the end of August. In a detailed table the newspaper presented what was discussed in the Summit between seven European leaders, noting the most critical dates...

Greek Bank Deposit Outflow Continues Amid Political Uncertainty

Greek banks saw 300 million euros withdrawn on Wednesday, the highest outflow in a single day since February 20 when the four-month bailout extension deal was signed, two Greek bankers told Reuters. The continuing tension between Athens and international lenders...

ECB Raises Greek Banks Maximum Emergency Funding by 400M

The European Central Bank (ECB) decided on Wednesday to increase the maximum Emergency Liquidity Assistance (ELA) that Greek banks can get from the Bank of Greece by 400 million euros, according to sources. This brings the total funding of Greek...

Greek Economy Minister: 'EU Forces Want to Cancel Eurogroup's Agreement'

The promotion of the regulation on the first residence foreclosures is not a unilateral action on Greece's part, Economy Minister George Stathakis reassured in an interview to private MEGA TV late Wednesday, adding that such a message does not...

ECB Extends Greek ELA by 600 Million Euros

Today, the European Central Bank (ECB) decided to increase the maximum amount of Emergency Liquidity Assistance (ELA) that Greek banks can receive from the country's central bank by a further 600 million euros. The decision was made following a teleconference held...

ESM Approves Transfer of €555 Mln from HFSF to Greek State

The European Stability Mechanism (ESM) approved on Tuesday the transfer of 555 million euros from the Hellenic Financial Stability Fund (HFSF) to the Greek State, sources said. The funds come from the dividend payments of preferential shares that banks received...