Calamos Supports Greece

Economy

EU Commission Revises Forecast for the Greek Economy Downwards

The European Commission revised its forecasts for the Greek economy downwards on Monday, envisaging a GDP growth of 3.5 percent in 2022 and 3.1 percent in 2023 (from 4.9 percent and 3.5 percent respectively in its winter forecasts made...

Inflation in Greece Hits Double Digits at 10.2 Percent

Greece's annual consumer inflation jumped to its highest level in 28 years in April at 10.2 percent on the back of surging costs for energy, housing, transportation and foods, official data showed on Tuesday. The increase of inflation by 2.1...

Greece and UAE Set Up $4.2 Billion Investment Initiative

Greece and the United Arab Emirates (UAE) have agreed to create a €4 billion ($4.22bn) initiative to invest in the Greek economy during a visit by Greek premier Kyriakos Mitsotakis to Abu Dhabi on Monday. Investments will be made in...

Price of Bitcoin Drops to Nearly Two-Year Low

The price of bitcoin has fallen significantly this month with the value of the cryptocurrency reaching a 22-month low on Monday. Bitcoin's price has now dropped to $32,338.60 (30,627.89 euros) as of Monday evening, a slump which amounts to the...

Tourism in Greece Hit by Staff Shortages

Tourism in Greece for summer 2022 is threatened by staff shortages and spiraling energy costs, officials have warned. Tourism is Greece's key industry providing a quarter of Greece's national income. A record number of tourists are expected this year following...

Calamos CEO John Koudounis: Fed’s Challenge to Secure “Soft Landing”

Calamos President & CEO John Koudounis cautioned on the need for a "soft landing" for the economy as the Federal Reserve (Fed) is widely expected to raise interest rates on Wednesday. The Fed is expected to raise interest rates by...

Russian Ruble Recovers To Pre-Ukraine War Levels, Inflation Soars

The Russian ruble not only recovers to pre-Ukraine war levels but it also hit a two-year high against the US dollar Friday April 29.

Greece Announces Return to Capital Markets

On Tuesday, Greece announced its return to international capital markets and mandated six banks to run a reissue process for a 7-year bond maturing in April 2027. The 7-year bond issue carries a coupon of 2 percent and yields 2.013...

Greek Economy Upgraded by S&P Global Ratings

The Greek economy got a vote of confidence by S&P Global Ratings on Friday which upgraded its debt rating to BB+. “The upgrade reflects our expectation of a continuous improvement in Greece’s policy effectiveness, while the fallout from the war...

Greece Raises Minimum Wage by €50 a Month

Greece's Prime Minister Kyriakos Mitsotakis announced on Wednesday that the minimum wage will be raised by €50 a month ($54) from €663 at present to €713 ($773) beginning on May 1st. In a televised address, Mitsotakis asserted that the latest...

NYSE Marks Greek American Issuer Day

Dozens of top-level speakers from Greek and international governments, as well as business and financial communities offered an insightful blueprint of the state of the Greek economy during the “23rd Capital Link Invest in Greece” Forum which was held...

Medical Cannabis to be Sold at Pharmacies in Greece

Greece expects huge investments in the production of medical cannabis which the government hopes would add up to 1.5 billion euros ($1.67 billion) annually to state revenue, Minister for Development and Investment Adonis Georgiadis said. Speaking exclusively to Greek Reporter,...

Greek PM Mitsotakis Discusses Economic Impacts of Ukraine War

During a panel at the Delphi Economic Forum on Saturday, Greek Prime Minister Kyriakos Mitsotakis discussed the economic impacts of the war in Ukraine on both Greece and Europe as a whole. Mathias Cormann, Secretary-General of the Organization for Economic...

Greece Receives 3.6 Billion Euros from EU Recovery Fund

Greece received on Friday a 3.6 billion euro ($3.9 billion) payment out of its allotted 30.5 billion from the European Union’s pandemic recovery fund. The announcement was made by Valdis Dombrovskis, the European Commission’s executive vice president, via video link...

Central Bank of Greece Slashes Growth Projection to 3.8% This Year

The central bank of Greece cut its projection for growth in 2022 to 3.8% from a previous projection of 4.8% it announced on Thursday. The head of the central bank, Yannis Stournaras, told the bank's annual meeting of shareholders that...