Calamos Supports Greece

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Papademos Says He Will Remove Dissenters Because Default Would Bring Misery

ATHENS – Facing a growing mutiny in his shaky coalition government against austerity measures demanded by international lenders in return for a second bailout to keep Greece from going bankrupt, interim Prime Minister Lucas Papademos has told any dissenters...

Greek Pensions Saved But Minimum Wage, Health and Defense Hit Hard

ATHENS - After divisive talks, Greece’s coalition government has agreed on a plan to make more deep spending cuts to stave off default, but the deal means although pensioners could be spared, the country’s already-wracked health care system will...

Greece Gives In, Will Fire 15,000 and Slash Minimum Wage

ATHENS – In a move that seems certain to stoke worker outrage just before a general strike and protests, Greece’s coalition government has reportedly agree to international lenders' demands to fire 15,000 public workers this year and cut the...

With Greece on “Razor’s Edge”, Lenders Insist: Comply or Default

ATHENS – As Interim Prime Minister Lucas Papademos tried to keep leaders of his coalition together in a desperate attempt to win a consensus on reforms needed to keep international aid coming, the government was told it has no...

Greece Debt Reduction Deal Nears, but Second Needed

ATHENS – Just as Greece is seeking a second bailout to keep its economy from failing and defaulting on its loans under the weight of a staggering $460 billion debt - $41,818 for every man, woman and child in...

Greeks Including Venizelos Reject Idea of EU Budget Czar for Greece

ATHENS – Starting with Finance Minister Evangelos Venizelos, whose position effectively would become moot, Greek officials said they will not go along with a proposal by Germany for the European Union to appoint a budget commissioner to oversee Greece’s...

New Troika Demands: Firings, Pay Cuts, Slashed Health and Defense Spending

ATHENS – There just seems to be no good news for Greeks these days. Even as a coalition government led by former European Central Bank (ECB) Vice-President Lucas Papademos has stalled in talks to get a second bailout to...

Greece’s Deal with the Devils: Did Anybody Read this Thing?

ATHENS – At least he didn’t say the dog ate the memorandum or go “hummana hummana hummana" while looking sheepish and wiping his face, like Jackie Gleason’s portrayal of Ralph Kramden confronted by wife Alice when he screwed up...

End of an Era: Papandreou Set to Leave PASOK Stage

ATHENS – Like his father Andreas 30 years before him, George Papandreou was the Prime Minister of Greece until being hounded out of office on Nov. 11, 2011 following 18 months of protests, riots and strikes, after he imposed...

11 Reasons Why Greece Really Went Broke in 2011

ATHENS – Unless you were rich, a business executive, a celebrity, or among the few privileged elite who run the country and for whom every year is a banner year of profiteering, 2011 was the worst year for most...