Calamos Supports Greece

Klapsis

Bad Loans Threaten Greek Banks

Under an onslaught of 63.6 billion euros in non-performing loans and many people unable to meet payments after three years of austerity measures, Greek banks said they’ve been left virtual-ly unable to lend. As default rates on mortgages approach 23...

Greek Tax Agents Meet Hostile Crowds

Restaurant and tavern owners and customers are increasingly harassing tax inspectors at a time when Greece has intensified a long-overdue crackdown on tax evasion, but officials are determined to enforce the tax laws. Residents in a village in Peloponnese barred...

Greek Workers Fear Coming Firings

After three years of austerity measures that created a record 27.4 percent unemployment rate and put 1.3 million people out of work – all in the private sector – Greece’s fragile coalition government is turning its attention to reducing...

ND-PASOK Alliance Takes The Reins

Moving forward after the withdrawal of one of his coalition members, Greek Prime Minister Antonis Samaras formulated a new alliance with the other coalition partner, the PASOK Socialists, in a new cabinet that gives his partner key ministerial positions. Samaras,...

ERT Over, Samaras' Hybrid Moves On

ATHENS - After a series of talks over the shutdown of national broadcaster ERT and the firing of all 2,656 workers, Greek Prime Minister Antonis Samaras’ coalition has lost one of its partners, but he said he will finish...

Greeces Hopes OPAP Sale Speeds Privatizations

Greece Prime Minister Antonis Samaras said the sale of gambling monopoly OPAP shows that Greece is serious about making reforms as a condition of rescue aid.  The deal, which will give Czech-Greek consortium Emma Delta a 33 percent stake...

Ignoring EU, Greece Won’t Ban Golden Dawn

Although Greece’s government has said it will not ban the neo-Nazi Golden Dawn party, the Council of Europe’s commissioner for human rights said there is enough evidence of the party’s support for violence to outlaw the group. Nils Muiznieks said...

Austerity Drives Down Greek Deficit

Austerity measures that squeeze Greek pocketbooks are making an impact. Greece cut its deficit by a third last year, to 6.5 percent from 9.4 percent in 2011. The government expects to cut the deficit to 4.3 percent by the end...

Greece Has Cautious Optimism For Recovery

Greek Finance Minister Yiannis Stournaras said Greece’s economy can begin recovering this year if it adheres to the conditions set by its lenders and keeps social unrest down. “We can make it ... if we can stick to the program...

Greece Eyes Repeal of Immigrant Citizenship

As Greece continues a sweep of illegal aliens, Prime Minister Antonis Samaras is proposing to eliminate a law that grants citizenship to immigrants, many of them minors who were born in Greece, attend Greek schools and speak Greek. With his...