Calamos Supports Greece

national bank of greece

Greek Banks Could Nix Loans to Ship Owners

ATHENS – Greece’s shipping industry, which pays no income taxes to its homeland, may find it difficult to get more financing from Greek banks because of the economic crisis that has created a deep recession and has threatened to...

Greece Wants Turkish Companies to Buy Properties and Assets

ISTANBUL – Desperate to find buyers of its assets and holdings to satisfy international lenders, Greece is turning to its neighbor and often-time enemy Turkey to find investors amid fears of a bargain basement fire sale that will bring...

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...

National Bank Raises 1 bn Euros

Greece's leading lender National Bank said Monday that it has increased its capital by one billion euros, boosting its defences ahead of a controversial write-down of government bonds. NBG said that a sale of preference shares to the government brought...

First Quarter 2012 Critical for Greece's Stay in Euro

Greece will either lower its standard of living, or it will exit the euro and turn decades back, chairman of the Association of Greek Banks and president of the National Bank of Greece (NBG) president Vassilis Rapanos said on...

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...

Scandalized Proton Bank Gets Nationalized

ATHENS - The National Bank of Greece has moved to take over Proton Bank, a small lender that is under investigation for possible violation of the country's money-laundering laws and embezzlement. NBG said it had it activated a bank...