Calamos Supports Greece

IMF

Greek Budget Cut Plan in Troika's Hands

While details of a 13.5 billion euros ($17.34 billion) plan to cut spending and raise revenues haven’t yet been made available to the public, the package is reportedly in the hands of envoys from international lenders who have to...

Tsipras Demands Greek Debt Conference Like Post-War Germany

Greece's main left-wing opposition leader Alexis Tsipras called Thursday for a one-off international conference to write off Greek debt similar to a 1953 London deal on German war reparations. Tsipras made the call during a press conference at the European...

Greece Will Sell 33% of OPAP Gambling

Greece on Sept. 27 launched the sell-off of one-third of its stake in OPAP, the sports betting and gambling business it operates. The country's privatization board is handling it, authorities said. The sell of shares is part of a broader...

Samaras Closes In on Budget Cut Deal

Greece’s uneasy coalition government has nearly reached agreement on all the measures in a $14.6 billion spending cut plan, one of its members said, without revealing what they were. Emerging from a meeting with Prime Minister and New Democracy Conservative...

Weary of Austerity, 50,000 Greeks Protest in Athens

Some 50,000 Greeks worn out by austerity measures marched through central Athens on Sept. 26 in the first general strike since the country's coalition government was formed in June, as Prime Minister Antonis Samaras worked to finalize another $14.6...

Downtown Athens: 1 in 3 Stores Closed

Greece's deep recession has forced almost a third of businesses in Athens commercial district to close down as shrinking incomes and frequent strikes have driven away customers and harsh austerity measures have made many slow spending almost to a...

Pushed by Troika, Stournaras Threatened to Quit

Frustrated by relentless demands from international lenders that Greece make even deeper pay cuts, tax hikes and slashed pensions, Finance Minister Yiannis Stournaras threatened to resign during an intense meeting, the New York Times reported. Prime Minister Antonis Samaras, under...

Greek Parliament Head Steps Aside In Corruption Probe

Greek Parliament President Evangelos Meimarakis, handpicked for the position by Prime Minister and New Democracy Conservative leader Antonis Samaras, said he will suspend himself from his duties during a reported investigation into alleged corruption by the country's financial crimes...

Greece Gears Up for Week of Strikes Against Cuts

Greek Prime Minister Antonis Samaras faces the first real test of his already-shaky three-month coalition government this week with the walkout of public workers in several sectors and a 24-hour general strike on Sept. 26 against another round of...

IMF Blasts Greek Fuel Market Monopoly

As international lenders press Greece to break up near-monopolies in professions from druggists to lawyers, a lack of competition in the country’s fuel market is costing consumers hundreds of millions of euros, according to a draft International Monetary Fund...