The June 5-6 conference will be held at the Plaza hotel and AMCHAM President Giannos Grammatidis said the body is hopeful it will be able to persuade investors that Greece is a good bet and that promises made at previous events have been met.

Among the 28 companies that will join the road show, 11 are first-time participants. Some 267 meetings are to be held with institutional investors, while 46% of the funds that will speak with Greek companies are also participating for the first time. Some of the investors aim at long-term profits, while others at short-term.

The conference organizers will insist on evidence that the Greek economy is recovering as the primary deficit declined by 80%, to 306 million euros in the first quarter of 2013.

The spread of Greek bonds decreased to 670 units from nearly 3,000 units in May 2012. Greece is a developed reliable market and ranks in the Top 10 among the countries that experienced the greatest improvement according to a World Bank report.

Nevertheless, Greece remains inexpensive given that stock market capitalization is approximately one quarter of the EU average, as stressed by the Chairman of the Athens Exchange and Chief Executive Officer of the companies of the Hellenic Exchanges Group, Socrates Lazaridis.

The Greek stock market has liquidity as well. Foreigners take positions and even their participation in the market is historically high. Most of the international placements are mainly from the  USA, Luxembourg, Cyprus and the United Kingdom.

The Greek stock exchange in New York, also intends to highlight its new institutional framework over collective investments which can help in financing smaller and unlisted companies.

According to two recent articles published in the US, Greece has not only failed to improve its economic condition, but also faces at any given time the danger of exiting the Eurozone. This time it will not be the partners that will call the country to do so, but its people.

As Wall Street Journal reports, the countries of southern Europe continue to suffocate under the German strategy that implies large cuts in public spending and wages in order for these countries to increase their competitiveness. Furthermore, the newspaper refers to a survey carried out by Goldman Sachs that suggested that this difficult situation of Greece is going to last for more than ten years.

In the same wavelength, Bloomberg doubts that Greece’s situation shows any signs of recovery and adds that progress is just a drop in the ocean and that the current euphoria is exaggerated.

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Although Greece and Cyprus are not named specifically, the regulation suggested by the Republican Senator from New York, Charles Schumer, and is supported by the Republican Senator from South Carolina, Lindsey Graham, provides for young scientists and foreign language teachers the possibility to work in the USA for a year.

According to estimates of agents of the Greek American community, Greece and Cyprus are included among the countries the regulation refers to. A relevant announcement was made by Manatos & Manatos, government relations and public policy company in Washington D.C which operates on issues of Greek interest.

“Unemployed young Greek citizens may have an opportunity to work for a year in America,” said Ted Spyropoulos, Chairman of the Ad Hoc Committee on Temporary Employment of Greeks in America (TEGA). He added that if the law is finally adopted, it will allow Greek-Americans to employ large numbers of Greek citizens in America for a year. The Greek community will also benefit from more Greek language teachers, a fact which will contribute to the enhancement of the Greek language and culture.

“We need a radical change in Greece and Europe,” Rena Dourou, a Member of the Greek Parliament for the major opposition Coalition of the Radical Left (SYRIZA) part said during programs at Princeton University and New York University presented under the title Is The European Union Condemned? A View From Greece.

Dourou talked about several issues, outlining the economic crisis in Greece and in Europe. She said that  new policies are needed to build a new EU and benefit people not banks or markets. SYRIZA opposes the austerity measures being imposed in Greece on the orders of international lenders putting up $325 billion in two bailouts.

Among other things, she talked about the problems of unemployment, tax evasion, humanitarian disaster etc. , adding that the Eurozone is a strategy of public investment in jobs, infrastructure, education and research. These alone, could create a new, progressive agenda for the EU so as to regain its credibility towards the people, she said.

In response to several questions, she talked about Greece’s record unemployment rate and the rise of the neo-Nazi Golden Dawn party which won 18 seats in Parliament last year on the back of a platform to rid Greece of all immigrants and has promoted an anti-Semitic and anti-Gay stance as well. 

Dourou was to meet with Archbishop Demetrios of America and then with members of the National Council of America and speak as well to the Federation of Hellenic Societies of Greater New York.

Outstanding speakers, interactive roundtables and the opportunity for clients to network with other affluent families in an invitation only, private atmosphere were the hallmarks of the Calamos Family Financial Summit which took place last week at the company’s headquarters in Naperville, IL.

Calamos also hosts regional Building & Preserving Wealth programs and offers online thought leadership through podcasts and whitepapers. Earlier this year, the 2013 Building & Preserving Wealth program began in Illinois and Arizona, featuring presentations on the current and coming economic and tax environment. Upcoming events will be held in Florida, Texas, Michigan, New York and Ohio.

Calamos Wealth Management pursues marketplace differentiation by delivering the personalized attention of a wealth management boutique while leveraging the vast resources, track-record, experience and intellectual capital of a global investment firm.

“Our clients continue to seek education and peer networking in a comfortable, confidential environment. We are happy to provide that service by hosting both our summit and regional programs. Beyond reports on their investments, clients are also asking for easy-to-access current and relevant information as they try to sort through all that they read and hear on the news. Our outlooks, podcasts and whitepapers address topics that are top of mind with our clients,” states Calamos Wealth Management President, Jim Baka.

John Calamos Sr.

The roots of Calamos Wealth Management trace back to the difficult markets of the 1970s, when John Calamos, Sr. began investing for private clients, many of whom are still with the firm today. The son of a Greek immigrant, John grew up in Chicago, where he worked in his family’s grocery store. When he was in his teens, he became interested in investing and convinced his parents to entrust him with a portion of their hard-earned nest egg. From these early days, John understood that his investment decisions carried great responsibility. He saw firsthand the effort that went into earning this money and knew the implications of losing it.

Cara Mossington, Director of Marketing and coordinator of the client networking and education programs says, “One of the key questions pertaining to the next generation becomes, ‘You have prepared the wealth for your children, but have you prepared your children for the wealth?’” adding, “The implications of family wealth goes far beyond the monetary impact. It’s a valuable service to provide peer to peer networking and education in a confidential environment to families of great affluence who often have little opportunity to open up about their wealth and the impact it has on their family.”

The summit featured comments by John Calamos, Sr., as well as, speakers from some of the most prominent families in the nation who shared their own stories of success, failure and lessons learned.

Summit speaker Christopher Kennedy Lawford, a best-selling author, actor, and Goodwill Ambassador for the United Nations stated, “The next generation should be informed, wise stewards of their tangible and intangible assets. Take the time to teach them about the value of a dollar, their genetic inheritance, as well as their family legacy. I am happy I was a part of this event.”

Topics ranged from “Impact Investing” to “Net Worth vs. Self Worth” giving clients the chance to consider and discuss opportunities and issues surrounding family wealth and legacy preservation. Breakout sessions provided options including real estate investing, insurance best practices and Investing 101.

The ongoing crisis in Greece, closing factories and shipping strikes have narrowed the suppliers’ list of Titan Foods from 200 to 100, explained the owner of the store Costas Mastoras to the New York Daily. This Easter he will be only able to provide 75% of the normally stocked items and is feverishly looking for new supplying alternatives that will get him out of the dire situation.

For Mastoras, who has been selling Greek products for 32 years, ranging from feta cheese to gourmet products originating from small Greek islands, the situation is unprecedented. Exports from small Greek islands have stagnated the past years due to continuing shipping strikes and the lack of liquidity in the Greek economy.

Rice, among other statements, stressed as well that the Cyprus case highlighted Europe’s need to keep moving towards a banking union, which includes not only a single supervisory mechanism, but also a single resolution mechanism.

Rice said that in fact Cyprus was already facing a crisis situation. That very agreement reached in Brussels deals with these challenges up-front. “It focuses on dealing with the two problem banks and fully protecting insured deposits in all banks through a clear strategy that ensures the debt sustainability and does not excessively burden the Cypriot taxpayer,” he said.

Finally, Rice was also quoted as saying “Now, the adjustment that the plan will entail as the financial sector downsizes and the economy adjusts accordingly will be a difficult process for the Cypriot people over some period of time. We are mindful of that, but it will ultimately result in an economic model that is more sustainable and growth promoting.”

But now, relying on international lenders for a 10 billion euros ($13 billion) rescue loan, the newspaper said that Cypriot officials may have to strengthen relations with Turkey and work together on energy exploration, especially now that is neighbor has moved closer to repairing a breach with Israel, which also wants to work on finding gas in Cypriot waters.

The sudden reversal of fortunes implies that Cypriots may need to brush up on their own relations with Turkey to make its gas wealth a reality. The article pointed out that two are the factors pushing Cyprus to change its foreign policy: the financial crisis and the new detente between Turkey and Israel.

These last developments may push “Greek Cypriots into some kind of resolution of the Cyprus problem,” said the Director of Sapienta Economics, a consulting firm based in Nicosia. Cyprus, with its bailed-out and bombed-out economy, does not have many choices than pipe gas to Turkey, it was said.

Both sides have sparred over ownership of the gas, creating another obstacle to reunification rather than an incentive to cooperate. Yet the closest natural customer is Turkey, which imports most of its oil and gas and is the biggest potential rapidly-growing market, as the Times noted. For Cyprus and Turkey, “gas exploration and export could be the coal and steel commodity that united France and Germany after the war,” it said.

“The deal made for Cyprus fully ensures the guaranteed deposits and solves the capitalization problem of banks in difficulties, that is a very important thing,” the Treasury Department said in a statement. It pointed out that, “It is crucial to create the foundations to lead the country back on the road to financial stability and development.”

“The European Central Bank’s commitment to provide Cyprus with liquidity is extremely important for this purpose,” the statement added, stressing that the United States would keep monitoring closely the situation amid fears that there could yet be a run on the banks in Cyprus as depositors have lost trust with the banks who seized their money.

Before the deal was revised, Cyprus had wanted to also confiscate 6.75 percent of deposits under 100,000 euros that were allegedly guaranteed against loss by the government, although European Union officials said even those were not safe from being taken by the government in an emergency.

Bernanke continued “I am aware that Cypriots struggle with a very difficult problem. I think the issue they face is that there’s a pretty big hole, a financial hole… So they’re looking for resources where they can find them. The restructuring of the banking system is also a possibility. We hope that the Europeans will come up with an efficient and equitable solution”.

Bernanke underlined that the crisis in Cyprus at this stage “poses no major risk” to the US economy.

Regarding the Eurogroup bailout decision to tax all of Cyprus’ bank account holders, he said “There is the issue of setting a precedent that might reduce confidence in banks in subsequent periods. There are a lot of uncertainties and difficulties, and there are questions about the way Cyprus is treated — what implications that might have for other countries and the like. So it does have some consequence.”