Calamos Supports Greece

Magginas

Greece's Shrinking Economy Could Aid Anti-Austerity Parties

ATHENS – Despite more than two years of record cost-cutting, including slashes in salaries and pensions in addition to record tax hikes demanded by international lenders in return for $325 billion in two bailouts, Greece’s economy is continuing its...

Greek Crisis Scaring Off Tourists, Numbers Fall 15%

ATHENS – One of Greece’s last, best hopes for surviving a deep economic crisis – tourism – is sinking under the weight of relentless stories of a country on the ropes, fears that it will abandon the euro for...

Benefits for Greek Jobless Will be Slashed Too

ATHENS – Greece’s 1,033,507 unemployed – and counting – will have their monthly benefits cut by 22 percent, dropping their only source of income during the economic crisis from $604.89 to $471.89, to keep pace with a similar cut...

Greece’s Lost Generation: 51.5% Out of Work

ATHENS – Austerity measures imposed by international lenders in return for bailouts to keep the country from defaulting are taking their toll on Greek workers, with 21 percent now out of work – and 51.5 percent of those under...

What’s Really Riling Greeks? The Injustice of it All

ATHENS - The best news of the week was that Germany may be sending 160 tax auditors to Greece to – quote, unquote – “modernize the tax system,” which is really just code to go after tax evaders and...

Greek Jobless Rate Hits 18.4% as Economy Tanks

ATHENS – As Greece waited on a new coalition government needed to keep international loans coming and prevent the country’s bankruptcy, the austerity measures that go along with them have driven the unemployment rate to 18.4%. That came as hundreds...

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...