Calamos Supports Greece

Pensions

BoG Chief: Greece's Pension System Is Bankrupt, Reforms Necessary

Greece's current pension system is bankrupt and in need of reforms, such as raising the age of retirement to 70, said Bank of Greece Governor Yiannis Stournaras on Thursday. Speaking during an Economist conference on private insurance, Stournaras said that,...

Greek Lawmakers Excluded From Pension Cuts Unlike Ordinary Greek Citizens

The pensions of members of parliament and elected local government officials are excluded from the cuts that apply under the bailout program. According to an Eleftheros Typos newspaper report, former members of parliament and elected local government officials are not...

Greece-Creditors Still Fail to Close Gap in Bailout Review Negotiations

Greece and international creditors continue to disagree on several issues of the bailout program as Sunday's talks failed to bridge the gap between the two sides. Lenders, and the International Monetary Fund in particular, insist on the need of reforms...

Gap Between Greece-Creditors Remains After 5 Days of Talks

No progress has been made after the fifth day of negotiations between Greece and creditors over the bailout program review, according to sources close to the talks. While talks on labor law reforms started on Sunday, the gap between the...

Greece's Demographic Problem Affects Pension System

The demographic problem in Greece and the serious consequences it has on security funds was a subject discussed at the 2nd Delphi Economic Forum. Demographics Professor at the University of Thessaly Vyron Kotzamanis, presented research of the diaNEOsis institution on...

Labour Ministry Amendment to Correct Problem with Index for Calculating Pensions

Greece's labour ministry on Friday tabled a last-minute amendment that aims to correct a problem that has arisen with the formula for calculating pensions, following an announcement by Greece's statistical agency ELSTAT earlier in the day that it lacked...

Greece-Creditors Make No Progress After Third Day of Negotiations

Creditors on Thursday did not accept the Greek proposals for countermeasures and insist that Athens must take additional measures amounting to 2% of GDP in order to reach fiscal targets. The Greek side argued that it has exceeded budgetary targets...

Creditors Disagree With Greek Proposals for 'Counter-Measures'

Creditors on Wednesday, disagreed overall with the "counter-measures" the Greek government proposed in order to balance the fiscal measures demanded to close the bailout program review. The second day of negotiations did not close with a positive outcome for the...

First Day of Greece-Creditors Negotiations Ends With No Results

The first day of negotiations on the bailout program review between Greece and creditors on Tuesday bore no results as the Greek side disagreed with the cost of the proposed measures and their implementation. The Greek ministers who participated in...

Greeks Over 45 Face Financial Deadlock

The unemployment rate among Greeks 45 and over is increasing steadily, with almost one in three unemployed belonging in the 45-64 age group, when in 2009 there were only one in five.  According to the Hellenic Statistical Authority (ELSTAT), out...