Calamos Supports Greece

Yannis Stournaras

Greece to Pay Citizens €3,000 for Reporting Tax Evasion

Greece's Ministry of Finance has announced an initiative to offer citizens a bonus of up to 3,000 euros for reporting instances of tax evasion. The incentive is part of a broader movement in strengthening tax compliance and transparency in...

Shadow Economy in Greece at 20.9 Percent of GDP, Central Banker Says

The size of the shadow economy in Greece reaches 20.9 percent of the country's Gross Domestic Product (GDP), Bank of Greece governor Yannis Stournaras said on Tuesday. Shadow economy consists of transactions between individuals, or individuals and businesses, without being...

Bank of Greece Warns of Lavish Pre-Election Promises

The governor of the Bank of Greece (BoG), Yannis Stournaras, warned political parties in Greece on Wednesday that their pre-election promises could derail the economy. "The analyses carried out by BoG have pointed out the dangers inherent in fiscal populism...

Greek Economy to Grow 2.2% in 2023, Central Bank Forecasts

The Bank of Greece has raised its economic growth forecast for Greece this year, according to the central bank’s governor, Yannis Stournaras. Presenting the bank’s annual report on Friday, Stournaras said that the Greek economy is expected to grow by...

Would Greek Banks Survive a Global Financial Crisis?

The shares of Greek banks took a hit on Wednesday following fears of a global meltdown after the troubles of banking giant Credit Suisse. Piraeus Bank and Alpha Bank closed with losses of 10.98 percent and 10.39 percent respectively, with...

Bank of Greece Forecasts 4.2% Growth for 2021

The Bank of Greece reiterated a 4.2% growth forecast for 2021, but warned that the Greek economy is facing a large number of bankruptcies

Worst-Case Scenario for Greece is Eight Percent Recession, Says BoG Chief

Estimates of a ten percent economic contraction this year were excessive, Bank of Greece (BoG) governor Yannis Stournaras said on Tuesday, while noting that he still expected the country’s GDP to shrink by 8.0 percent under the worst-case scenario. Speaking...

Bank of Greece Chief Foresees Growth Over Three Percent After 2020

Bank of Greece governor Yannis Stournaras said on Thursday in a speech in the United States that growth rates could rise higher than three percent after 2020, given the right conditions. Speaking at an event sponsored by the Stavros Niarchos...

Greek Parliament Rescinds Immunity for Former Minister Polakis

The Greek parliament on Wednesday voted to rescind the parliamentary immunity of former minister Pavlos Polakis, who has been accused of illegally recording a private telephone conversation with Bank of Greece Governor Yannis Stournaras. Polakis, a controversial deputy Health Minister...

PM Tsipras' Pre-Election Handouts Alarm Greece's Creditors

Greek Prime Minister Alexis Tsipras is slated to give out one billion euros in various types of handouts as the crucial European and local elections loom ahead, a move which has alarmed the country's creditors. European Stability Mechanism President Klaus...