Calamos Supports Greece

Greece

Strategic Defaulters Owe €10 Bln to Greek Banks

One in five (21%) of nonperforming loans in Greek banks’ portfolios, amounting to 10 billion euros, belong to borrowers who are able to repay them but choose not to in the hope they could get a favorable settlement. According to...

Greece's Biggest Supermarket Chain, Marinopoulos, Risks Default

Greece's biggest supermarket chain, Marinopoulos, is currently undergoing restructuring in a inopportune time, as there appears to be a growing friction between suppliers and creditor banks. Suppliers, who are owed a large sum between the banks have been pressing for debt payments...

The Guardian: Fear of Default Grows in Greece

The fear of default has appeared again in Greece, after talks between Athens and lenders on the bailout program review have stalled over the new contingency measures creditors require, says a report on The Guardian. "The review that should have...

S&P: Greece in Risk of Default in 2016

The risk of a Greek default has not disappeared yet, according to a Standard & Poor's new report. According to the analysis, the political reactions to the painful third Greek bailout program is the number one risk that the...

European Central Bank: "Greece Still in Jeopardy of Defaulting"

The European Central Bank (ECB) noted that even though after July Greece's expectations to default diminished, the stakes are still high due to concerns over an early and full implementation of the third bailout  program. For what concerns the Eurozone...

Varoufakis: 'Greece had a Chance to Default and we Missed it'

Greece had a chance to default and be kicked out of the European common currency bloc "but we missed it," said former finance minister Yanis Varoufakis. Speaking to the Guardian, Varoufakis said that the reason Europe is not able to...

House Speaker Konstantopoulou Insists Greece Should Default

House Speaker Zoe Konstantopoulou said that Greece should default on its sovereign debt payments while indirectly accusing the prime minister and certain cabinet members for not utilizing the findings of her committee on the debt. The Parliament President gave a...

'Regretfully, We Are Bankrupt'… Again; Debt And Default in Greece

Greece is the birthplace of dialogue, democracy, philosophy, arts and the first radical leftist government in Europe. During the last few years, and due to its deep dive into a financial turmoil, the country has been constantly hosted in numerous international...

11 Reasons Why Greece Went Broke, Defaulted, and Isn’t a Real Country Anymore

  Opinion, by Phaedon Boukas There are reasons why the most glorious country of ancient times defaulted to the IMF and went bankrupt, becoming the economic pariah of the world in the 21st Century. IMF put Greece in arrears on June 30 after...

Greece Is the Only Developed Country that Defaults on the IMF

After defaulting on its payment to the International Monetary Fund (IMF) at 1:00 am on Wednesday, Greece became the first developed country that failed to meet its financial obligations to the Fund. Greece has officially joined Zimbabwe, Somalia and war-torn Sudan...

9 Things to Know about Greece’s IMF Debt Default

By André Broome, University of Warwick Greece missed the deadline on its €1.6 billion loan repayment due to the IMF June 30, becoming the first advanced economy to default to the fund in its 71-year history. Here are nine essential things to know...

Greece Defaults on International Obligations; IMF Statement

Greece has missed its June deadline to pay €1.6 billion to the IMF, becoming the first developed country to default on its international obligations. Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement...

What Would Happen if Greece Defaults on its Payment to the IMF

Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis said on CNN and The Financial Times that Greece will not make the repayment due to the International Monetary Fund on June 30 (today). The default will put Greece on a...

'Restricted Default' for Greek Banks: Fitch Ratings

Fitch Ratings downgraded Greek banks to "restricted default" Monday, a day after the Greek government imposed capital controls that include limits on deposit withdrawals and closed Greek banks for a week. Here's the full release by Fitch Ratings: Fitch Ratings-Barcelona/London-29 June...

Emergency Eurogroup on Monday to Discuss Greek Debt as Default Approaches

An emergency Eurogroup session will be held on Monday before the Eurozone summit scheduled that day in order to discuss the critical Greek issue as the country heads for default on the International Monetary Fund on June 30. Eurozone ministers...