Calamos Supports Greece

Eurozone

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...

Power Games Regarding Greek PSI and EFSF Role

The debate about the haircut of Greek debt has a new dimension, as a large proportion of banks involved in the negotiations expressed the view that the policymakers’ threat of a haircut by 60% would happen without the willingness...

Greece To Get Next Rescue Loan Batch From Eurozone

Finance ministers from the 17 countries that use the euro approved the payment of Greece’s next batch of bailout loans Friday, avoiding a potentially disastrous default, but acknowledged the country’s debt remained too high. Greece’s debts are only one piece...

Eurozone Faces 'Critical Week' Over Debt Crisis: Papandreou

The eurozone faces its "most critical week" as leaders battle to reach a lasting solution to the debt crisis that has shaken the European currency, Greek Prime Minister George Papandreou said today. The EU is under huge pressure to present...

Deutsche Bank Boss in Talks over Greek debt: Report

The head of Germany's biggest bank, Deutsche Bank, is conducting talks over a 50-percent write-down of Greek debt in his capacity as chairman of the global banking lobby, a newspaper reported Sunday. Citing both government and banking sources, the mass...

Schaeuble: Euro-Zone Members Confident Of Resolving Greece's Woes

German Finance Minister Wolfgang Schaeuble said Saturday that euro-zone members were confident of resolving Greece's debt woes. He also said G-20 finance ministers and central bank governors meeting in Paris acknowledged the efforts made by the euro zone to contain...

With Slovak Vote, Eurozone Gets New Debt Crisis Weapon

Slovakia finally ratified the eurozone bailout fund on Thursday, removing a major obstacle to the single currency area's battle against a raging debt crisis set to deal a heavy toll on Europe's banks. Slovakia became the last country in the...

Slovakia Blocks Greek Rescue Fund

The Slovakian government has blocked plans to expand the European bailout plans, although international lenders are still expected to give Greece a loan next month. According to Reuters, Slovakia is the only country not to agree to grant the European...

Euro Zone Postpones Greek Loan

Eurozone finance ministers have delayed a decision on giving Greece its next instalment of bailout cash. It came after Greece said it would not meet this year's deficit cutting target, sending shares lower on Monday. A meeting set for 13 October,...

Immigration, Financial Crisis Threaten Border-Free Europe

As Europe scrambles to contain the financial crisis in the eurozone, another effort to deepen European unity is also being challenged, the Schengen passport-free travel zone. Immigration, lax controls, corruption and sovereignty worries are undermining dreams of border-free travel. Europeans now...