Calamos Supports Greece

Politics

Health Minister To Advise Papandreou Against the Referendum

Health Minister Andreas Loverdos will tell Prime Minister George Papandreou his call for a referendum is wrong and it shouldn’t be held, Proto Thema newspaper reported, without saying how it got the information. Loverdos, and two other members of...

Papandreou Called on to Resign by 6 Party Members

Six senior members of the ruling party called on Prime Minister George Papandreou to step down, state-run Athens News Agency reported, without citing anyone. The members of the Pasok National Council sent a joint letter to Papandreou saying the country...

Milena Apostolaki Quits PASOK Group

A Greek governing party deputy defected on Tuesday over Prime Minister George Papandreou's sudden decision to hold a referendum on a European debt deal, leaving the Socialists with only a two-seat majority in parliament. Socialist MP Milena Apostolaki declared herself...

The Rest Of Europe Is Fuming At Greece Right Now

French President Nicolas Sarkozy was reported to be “dismayed” by the news that Papandreou would call a referendum on the bailout deal. Sources close to Sarkozy said, “The Greek’s gesture is irrational and, from their point of view, dangerous.”...

Fitch: Greek Referendum Poses a Threat to the Eurozone's Financial Stability

Ratings says that the announcement by the Prime Minister of Greece of a public referendum to approve the economic and financial conditions associated with the new EU-IMF programme, including the debt restructuring under the 'private sector involvement' (PSI),...

Samaras: Will Try To Stop Referendum At Any Cost

General elections are a ''national necessity,'' Antonis Samaras, the leader of the main opposition New Democracy party told reporters following his meeting with President Karolos Papaoulias in Athens on Tuesday. In a brief statement to the press, the leader of...

German Parliament Leader "Irritated" by Greek Referendum

A leader in Chancellor Angela Merkel's center-right coalition said on Tuesday he was "irritated" to hear Greek Prime Minister George Papandreou had called a referendum on the EU bailout deal for his country. Rainer Bruederle, parliamentary floor leader for the...

Up to Eight bln Euros Paid in Bogus Pensions

Up to eight billion euros have been paid in bogus pensions in the past decade in Greece, director of the Social Security Foundation (IKA), Rovertos Spyropoulos said on Monday. Under immense pressure to cut spending and replenish empty state...

Greek Unemployment Hits 17.6% – and Climbing

Despite 18 months of pay cuts, wage hikes, and slashed pensions, a $157 billion bailout – and now forgiveness of half of its new debt – Greece’s unemployment rate has reached 17.6 percent, the second highest in the European...

Commonwealth Supports Cyprus

Commonwealth Heads of Government have underlined their full support for the territorial integrity of the Republic of Cyprus as well as for its sovereign right to explore and exploit any hydrocarbon reserves in its Exclusive Economic Zone (EEZ). In their...

Greek Deal Must be a One Off: Trichet

The outgoing head of the European Central Bank, Jean Claude Trichet, has warned that there should be no repeat of last week's deal to reduce Greek debt. He also said that Greece should have come under greater scrutiny before it...

Socialist International Meeting on Arab Spring Ends

Prime Minister and Socialist International president George Papandreou, after the end of the sessions of the Socialist International's conference in the city of Agios Nikolaos on the island of Crete at noon on Saturday, said that Crete is a...

Barroso: Pardoning of Greek Debt Won't Be Repeated!

This week's Eurozone agreement to remit 50% of the massive Greek state debt is "an absolutely unique and exceptional measure," stated EC President Jose Manuel Barroso. In an interview for Portugese paper Expresso, the European Commission chief said that this...

Harvard Professor Says Greece Will Exit Eurozone

A plan to wipe out 50 percent of Greece’s debt to international lenders is not enough to keep the economy from collapsing and eventually forcing Greece to leave the Eurozone, the 17-country institution of members using the euro as...