SAMARAS EXCLUSIVE: Crony capitalists named in National Bank deal

The Slog has learned from US and Greek sources that the buyers for Greek National Bank subsidiary Diethniki is Calamos Asset Management. John P Calamos Sr is a self-made Greek American who, at $2bn personal wealth, fits easily into the Forbes Top 400 rich list. CAM has $44bn under management, and its business expertise is a perfect fit with Diethniki’s niche. It is also a perfect vehicle for rich people wishing to evade tax by investing outside the European continent.

Both Samaras and Stournaras met formally with Calamos Snr in August, but I understand the closer relationship is with the son John Jr and his cousin Nick Calamos. In what may well be a related development, Nick resigned from the company in August 28th 2013, soon after a crucial meeting. The significance may lie in terms of covering tracks….or suggest that Nick Calamos may be taking up a senior position in Greek affairs.

More details as they emerge.

Yesterday at The Slog: Why the bureaucrats never go down with the ship