Calamos Supports Greece

Economy

Fitch Puts Greece On Review for Possible Downgrade

Ratings agency Fitch said Tuesday it has placed Greece's 'BBB-' long-term foreign and local currency Issuer Default Ratings (IDR) on Rating Watch Negative (RWN) pending the outcome of a potential downgrade. "A RWN indicates that there is a heightened probability...

Athenian Merchants Call for Suspension of Public Transport Strikes

Merchant groups on Monday called for the suspension of public transport strikes in the greater Athens area.  They want to allow shoppers easier access to the Greek capital's commercial centres, amid ongoing and rollover strikes, a plea that was partially...

Gov't Proceeds with 20% Cut Of Hospital Debts

Greek government proceeds with the cut of hospitals’ debts to pharmaceutical companies and suppliers, according to Capital. Minister of Health, Andreas Loverdos proposed the discount of 20% of the money owed by hospitals to pharmaceutical companies at his meeting...

Greek Stocks Post Heavy Losses

The potential revision of Greece’s rating by Fitch jitters the Greek market on Monday, pushing the Banking Index lower by 4.1% and the General Index below the 1,450 level. Analysts attribute the intensity of pressure to the negative sentiment created...

Pimco: Greece, Ireland & Portugal Should Leave Euro if Can't Pay Debts

Greece, Ireland and Portugal should leave Europe’s single currency area if they cannot cope with the burden of their debts.  The German daily Die Welt quotes Pimco’s head of portfolio management, Andrew Bosonworth as saying this Monday, according to...

Moody’s Puts 6 Greek Banks on Review for Possible Downgrade

Ratings agency Moody's today said it had placed the deposit and debt standing of six Greek banks, including several leading lenders, on review for a possible downgrade.  It similarly placed Greece's own sovereign ratings on negative watch. "Moody's Investors Service has...

Moody's Puts Greece's Debt on Watch

Moody's Investors Service said Thursday that it has placed Greece's Ba1 local and foreign currency government bond ratings on review for possible downgrade. "Moody's decision to initiate this review was prompted...by the increased uncertainty over (1) Greece's ability to...

Greece Accelerates Real Estate & Asset Privatizations

Greece will speed up its privatization of real estate and other assets, the Finance Ministry said Thursday.  This follows a decision by the Interministerial Privatization Committee, according to Dow Jones Newswires. Greece plans to raise 7 billion Euros between 2011 to 2013...

Government Proceeds with Privatization Program

Starting today, Greek government proceeds with the implementation of its privatization program regarding the sale of government stakes in banks, as well as of state-owned companies and public property in an effort to earn more than 7 billion euro...

Germany's War Debt for Greece is 162 Billion Euros

According to Costis Aivaliotis, spokesman of Laos, a small far-right Greek party, Germany's war debt to Greece totals 162 billion euros. The problem of compensating war damage by Germany has always remained open for the government, said Finance Undersecretary...

Worst Christmas Period for Athens Shopkeepers

The worst Christmas period of the last decade is  being forecasted for Athens shopkeepers, particulary for those in the center of Athens.  This was stated by Antonis Makris of Greece's Association of the retail sales businesses to the online newspaper...

Greek Banks Underweighted By Merrill Lynch

Merrill Lynch adopts a more cautious approach by underweighting Greek banks in its analysis published on Tuesday. It also prices a 38-62% probability of sovereign default in Greece, Ireland, & Portugal. Specifically, it reduces its price-target on shares of Piraeus...

New Development Law Aims At Growth

Greek government presented on Monday its long-awaited new development framework law, aimed at boosting growth, according to Dow Jones Newswires. Opposition parties have been criticizing government since last election in September 2009 that in its fiscal consolidation efforts it has...

Listed State-owned Companies To Adjust Wages

Greek government is asking the Athens Stock Market’s listed state-owned companies to adjust wages to the standards of loss-making - non-listed - ones and plans cuts across the state at the behest of the Troika, according to officials. As soon...

Jan-Nov: Deviation Of Revenue And Expenditure

Despite the increasing trend in revenue, problems regarding the 2011 budget still remain. Income for the Jan-Nov period was increased by 4.8%, improved in comparison with the Jan-Oct rate (3.7%), but it stays clear from the set target of...