Calamos Supports Greece

ELVO

Greek-Israeli Consortium to Produce New Vehicles for Greek Army

An Israeli consortium of the firms SK Group and Plasan intend to acquire 90% of the Hellenic Vehicle Industry (ELVO), which will manufacture tanks for the Greek Army as well as the Greek police. As reported in Auto News, the...

Troika Wants Greek Defense Industry Sliced

Faced with a looming budget gap that could be five times more than what Greece has estimated, international lenders are pressing the government to close two defense industries or significantly reduce their workforce and costs. The government is eager to...

Greece Asks More Time To Fire Workers

Administrative Development Minister Kyriakos Mitsotakis, who hasn't been able to meet a timetable to suspend, transfer or fire 25,000 workers this year, is reportedly going to ask international lenders for more time, and to include workers being fired at...

Troika Presses Greece For More Reforms

Talks between Greece and envoys from its international lenders immediately led to more demands for reforms and pressure on the government to shed itself of one of its defense industries and improve the woeful rate of tax collection with...

Troika Wants Greece to Shut Down EAS and ELVO

According to sources from Brussels, the troika  strongly believes that Hellenic Defense Systems (EAS) and Hellenic Vehicle Industry (ELVO) must be shut down. The lenders of Greece believe that it’s not possible to save the two state firms, because they...

Stournaras: Debt Rollοver Would Solve Greece's Funding Gap – No Debt Rollover, Says ECB

Finance Minister Yiannis Stournaras has suggested in an interview, that Greece’s financing gap could be overcome if the European Central Bank and the eurozone’s central banks decide to rollover a part of the Greek debt they are holding. As kathimerini...

Greece Hopes to Avoid More Austerity as 'Troika' Audit Begins

Greece called for international creditors not to enforce further austerity measures as they began a fresh audit of the country's finances on Sunday. Monitors from the so-called "troika" of international lenders -- the EU, International Monetary Fund and European Central...

Greece Tries To Save Defense Industries

While Greece's international lenders are insisting on the sell-off of the country's troubled and notoriously inefficient defense manufacturers, the government is still hoping to salvage control over at least parts of it. The state of the companies - EAS,...

Samaras and Venizelos Deny New Measures

Greek Prime Minister, Antonis Samaras, along with the government Vice President and PASOK president, Evangelos Venizelos, denied the new measures and confirmed the fact that they will take into account the reforms, privatization and structural changes. According to PASOK sources,...

Protests in the Center of Athens

Employees of the mining and metallurgical company LARKO and the administrative staff of the Universities held simultaneous rallies and protests against the government plans concerning the closure of Greece’s defense industries LARKO, EAS and ELVO and against the plans...