 Re: than is initially calculated
a) It should be was, not is, but yes, it can be omitted
b) the is incorrect. The article is only used as part of a proper noun in a few cases - generally if the noun has an adjectival component - eg the Netherlands, the United Nations. There are exceptions, but Athens isn't one of them
c) You've given no context for this sentence, but if it was eg a newspaper report, it would be more usual to include that than to omit it, as the style would be neutral rather than informal.
So the sentence should be :
He says that Athens will need more bailout money than was initially calculated.
or
He says that Athens will need more bailout money than initially calculated. |