Calamos Supports Greece

IMF

Greek Surtax Doubles, Tax Inspectors Set to Strike

A relentless wave of tax increases hasn't provided enough revenue to plug a deep hole in public finances, so a new supposed one-time “solidarity” surtax on income paid by Greeks will continue next year[...]

Nobel Winner Pissarides Says No Default, But Big Haircut

As Greek leaders are admitting that the country’s investors won’t get paid back all they are owed, Cyprus’ Nobel Prize Winner for Economics Christopher Pissarides has joined the bandwagon of analysts who say the so-called “haircut” could be a...

Venizelos Talks Tough to Would-Be PASOK Rebels

ATHENS – Finance Minister Evangelos Venizelos reiterated that Greece will do whatever it takes, including following the demands of the European Union-International Monetary Fund-European Central Bank Troika lending the country $152 billion to stay afloat, and challenged private dissenters...

Troika: Next Aid Tranche Probably Available In Early November

The sixth aid tranche would be released to Greece most likely in early November, said the Troika in a joint statement. Once the Eurogroup and the IMF’s Executive Board have approved the conclusions of the fifth review, the next tranche...

Extension Of Mid-Term Fiscal Plan Brings Additional Ten billion Euros Measures

IMF/EU/ECB ask for additional measures of €4 billion for the period 2011-2015 besides measures of €6 billion already included in the draft budget of 2012. Troika representatives continue technical consultations, seeking new measures, while its senior officials prepare the final...

Troika and Venizelos to Meet Again Today

Representatives of Greece's international creditors (IMF, EU and ECB), who have been in Athens for the past week, continue to apply pressure for further guarantees from the Athens government on the faithful introduction of the Medium-Term Economic Programme agreed...

IMF's Man Says Greek Rescue Plan May Fail

  ATHENS - The International Monetary Fund's representative in Greece has warned that a $152 billion bailout of rescue loans may not work because he said the country's leaders are dragging their feet on critical structural reforms. The IMF, along...

Greek Bailout Inspection Over – or not

There seemed to be confusion over the state of the Greek bailout talks on Friday. Inspectors from the so called troika – the European Union, the International Monetary Fund and the European Central Bank – contradicted a statement from the...

FT Deutschland Report: "Prime Minister Papandreou has Considered Resignation"

Financial Times Deutschland reported that Greek Prime Minister George Papandreou has been considering resignation from his current position as Greece's leader. The German newspaper claimed that sources from the Greek PM's environment gave them information over the past three weeks...

Greece Will Miss Its Deficit Targets Again

ATHENS - Wracked by recession, Greece will not meet deficit targets imposed by international lenders as a condition of a $152 billion bailout designed to keep the country from going bankrupt, the Finance Ministry admitted.The deficit is expected to...