Calamos Supports Greece

Economy

Barroso: EU Sees Progress On Greek Collateral

The European Commission said Tuesday that negotiations have made progress this week in finding a resolution to Finland΄s requirement for collateral from Greece, but comments from other leaders signaled that there is no quick fix. "There was progress at the...

DJ Greece Denies Finnish Fund Proposal Under Discussion

Greece΄s finance ministry Tuesday denied reports that euro-zone countries are discussing a Finnish proposal to transfer Greek assets to a Luxembourg-based holding company as security for new loans to cash-strapped Athens. Reuters reported Monday that Finland had proposed such a...

Pawnbrokers’ Business Thriving As Crisis Hits

The economic crisis and the high price of gold benefited the pawnbrokers. According to the newspaper “Eleftheros Typos”, in the region of Attica there are nowadays 114 pawnshops, while their turnover reaches 14 million euros. In the first...

Pensioners Become Farmers!

Recently, many elders tend to go back to their villages as they can make a living spending less money. During 2008-2010, 38.000 new labor posts were created in the agricultural sector. And many of the new farmers are pensioners who want to have...

Lists of Debt Holders Prepared By Tax Offices

The Tax Offices are preparing a list with people who owe great deal of money to the State and are accused of money laundering, tax evasion or have bank deposits which can not be explained by their income. The...

Vodafone Plans To Takeover Wind Hellas

Vodafone is in advanced negotiations to takeover Wind Hellas. Reportedly, the deal is expected to be finalized by the end of the year, while the same sources note that there is a program of voluntary resignation of about 1,000 employees. The...

ASE Sees Biggest Gain In 23 Years As Alpha Bank and Eurobank Agree Tie-Up

Alpha Bank and Eurobank announced that they have reached agreement on a combination by[...]

Greece-Troika In Talks Ahead Of 6th Aid Tranche

Greek government and senior troika officials have begun crucial negotiations for the disbursement of sixth instalment and the new loan agreement. EU/ECB/IMF representatives arrived on Saturday and agreed on a strict stance towards Greece. The government attempts to ask for...

Employees of Closed Institutions Continue to Be Paid Without Working

The absorption of the staff of institutions which were closed, is moving in a very slow pace, according to article in the newspaper “Adesmeftos Typos”. It seems that a large number of employees are still being paid without working...

Patients Financially Support the Hellenic Health Care System

According to the newspaper Eleftherotypia, during the last season, Greek citizens gave 13.8 million euros to hospitals.  Citizens have been paying 5 euros for entering the out-patient clinic and 69 million euros for visiting doctors during the day. However, the...

Closing of Military Camps and Airports

In order to save annually at least 500 million euros, the Hellenic Army General Staff decided to close Military Units and Airports, and to cut down some benefits. The reduction of the number of Units will bring in 62...

Cypriot Parliament Approves the First Austerity Measures

The Cypriot Parliament voted for the first austerity measures. However, the rise of the TVA was postponed. The measures include salary and pension deductions for the public employees up to 148 million euros and additional taxes of 170 million euros...

Germany Merkel Rejects Bilateral Collateral Deals For Greek Aid

German Chancellor Angela Merkel reiterated her rejection of bilateral deals on collateral in exchange for more aid to Greece in a newspaper interview Sunday, and also said she believes her current center-right government will be able to continue in...

Alpha and Eurobank Agree to Merge

Two of Greece’s three biggest lenders, Eurobank EFG and Alpha Bank have reached an agreement to merge, according to reports, which would create one of the biggest banking groups in the broader region. The team-up between the two lenders would...

Financial Times Says Greece Will Declare Default

According to an article in the Financial Times, the second economic support package will be a waste of money due to the very small participation of individuals and the conflict between Finland and other members of the Eurozone...