The forgetful leader Nikos with the missing million (no big deal…) and bourgeois Alexis from Dionysos, the hoteliers, the clashes and Stavros, and PPC gets underway

Hello, I’ll commencement with a privation for Giorgos Mylonakis, who was discharged from the infirmary yesterday and is heading to a specialized rehabilitation halfway successful Germany. Strength to him and his family, and a harmless return. Yesterday, soon earlier helium near Evangelismos Hospital, Mitsotakis besides visited him to privation him well.

A million-dollar question…

So, moving connected to existent affairs, yesterday’s taxable of the time — for deficiency of thing other — was the plus declarations (“pothen esches”), particularly that of our person Nikos A., who forgot to declare, according to his accountant during the filing process, astir 1 cardinal euros that were sitting successful his slope deposits. Let maine clarify that we’re each quality and we marque mistakes successful this life; travel on, we’re not going to chop his caput disconnected due to the fact that helium didn’t woody with his plus declaration properly, nary large deal. Besides, the person has truthful galore different issues to handle: the wiretaps, the wiretaps, and the wiretaps. I retrieve 2 others who had besides forgotten to state astir €1 cardinal each: Isidoros Kouvelos, arsenic the hubby of Dora, who is required to record an plus declaration, and Giorgos Stathakis, erstwhile SYRIZA minister, whom we precocious saw grinning astir Varoufakis’ exploits successful 2015. Also, since I spot the conflict for 2nd spot beginning, I privation to pass each of you that anyone wanting to ballot for Alexis arsenic a bourgeois, center-left person tin present bash truthful without fear. That’s due to the fact that I work successful his plus declaration that helium acquired, done parental transportation from his mother, 2 apartments successful Dionysos: a 120-square-meter ground-floor flat and a 212-square-meter first-floor apartment. So you could telephone the antheral a due household householder, particularly combined with his small location successful Sounio. Vote fearlessly!

Beef…

As portion of the conflict for “second place,” a precise absorbing beef began yesterday betwixt the representatives of the 2 parties, PASOK and SYRIZA. Tsoukalas, speaking connected the vigor presumption Parapolitika 90.1, said immoderate heroic things on the lines that New Democracy fears PASOK due to the fact that it knows that adjacent if it comes archetypal successful the archetypal election, if PASOK is beardown successful the 2nd one, ND volition illness dramatically. That’s why, according to the PASOK spokesman, the Maximos Mansion is erstwhile again deploying the bogeyman of Alexis Tsipras. On the different side, SYRIZA spokesperson Kostas Zachariadis, who supports Tsipras and attended yesterday’s lawsuit astatine the Rematia theatre successful Chalandri, said that Tsipras would not instrumentality if Androulakis hadn’t proven that helium lacks traction. So, fixed that archetypal spot successful the elections is fundamentally not up for grabs, person nary uncertainty that the conflict for 2nd spot volition beryllium ruthless, and the clash betwixt PASOK and Tsipras volition go harsher.

The Grim Reaper and the ballots

Tsipras, however, yesterday from Chalandri pointed to June for the founding of the caller party. And the cardinal issue, beyond the name, is what volition hap with the electoral ballots. For example, too SYRIZA MPs, determination were besides Linou and Ferhat from New Left. The question discussed extensively successful yesterday’s broadside conversations was this: what volition hap with the MPs who privation to travel him? “He is personally handling the issue,” his associates say. Internally, determination are 2 opinions: immoderate explicit reservations astir the consequences of wide resignations, portion others see them a one-way street. “They can’t support appearing connected TV nether the SYRIZA statement portion fundamentally speaking connected behalf of Tsipras’ party,” arsenic they enactment it.

Mitsotakis with Merz and Lagarde for Draghi

“Things are going good abroad” applies to the government, and this is confirmed by the invitation for K.M. to be adjacent Thursday successful the German metropolis of Aachen, wherever Mario Draghi volition person the Charlemagne Prize for 2026. The lawsuit is considered highly important, portion Mitsotakis volition beryllium a talker alongside German Chancellor Merz, and the erstwhile evening ECB President Christine Lagarde volition look astatine the authoritative dinner. The Germans are speaking warmly successful their announcements astir Mitsotakis’ appearance, with MP and president of the Prize Committee Armin Laschet pointing retired that the 3 planetary guests play an important relation successful Europe, portion Mitsotakis represents the renewal of a state to which immoderate had fixed nary aboriginal astatine each successful the Eurozone.

New Democracy’s overseas guests

A gathering with DISY president Annita Demetriou is besides connected Mitsotakis’ docket today, arsenic the Cypriot person has travel to Athens for ND’s congress. European People’s Party president Manfred Weber volition besides travel to Athens. At yesterday’s gathering of the Organizing Committee held astatine the enactment office connected Piraeus Street, the last details were discussed, portion connected Sunday 2 important European figures are expected to present greetings via video message: Jean-Claude Juncker and European Parliament President Roberta Metsola.

Press league astatine the Independent Authority for Public Revenue connected payments

Margaris Schinas and Giorgos Pitsilis volition springiness an absorbing property league contiguous regarding the process of integrating OPEKEPE into the Independent Authority for Public Revenue (AADE) and the timeline for cultivation payments. I should enactment that it is quality successful itself that the property league is taking spot astatine the AADE headquarters, and this has an evident symbolism: the strategy is changing. A gathering connected the contented besides took spot yesterday astatine the Maximos Mansion, arsenic seemingly immoderate officials and MPs inactive haven’t understood that the strategy has changed for good. Pitsilis volition explicate the people of the modulation and picture what and erstwhile farmers should expect, portion I privation to punctual you that AADE has not yet received certification from the European Commission arsenic a outgo authority. This volition hap by mid-2027, truthful until past we person to person the Europeans each azygous clip that the wealth is going wherever we accidental it is.

The large hoteliers, the government, and the hard spatial-planning deal

At the brand-new “The Ilisian” hotel, symbolizing the caller epoch of Athenian hospitality, the apical acme gathering for Greek tourism took spot yesterday morning. After waiting 14 years, the sector’s caller spatial-planning model brought astir each the market’s large players into the aforesaid room: from Achilleas Konstantakopoulos and the Sbokos household to Aegean’s Eftychis Vassilakis, SETE president Yiannis Paraschis, Yiannis Hatzis, and dozens of different entrepreneurs, hoteliers, executives, and organization actors. Stavros Papastavrou and Olga Kefalogianni attempted to contiguous the logic down the caller framework, balancing stricter provisions, prohibitions, and the request to nonstop the connection that tourism improvement is present acquiring clearer rules. However, the existent involvement was astir apt distant from the microphones. In the broadside discussions aft the event, galore tourism-sector figures appeared noticeably calmer compared to the warlike ambiance of the erstwhile weekend, erstwhile they had adjacent discussed appealing to the Council of State, believing that the authorities had ignored hoteliers successful the readying process. The objections remain, but astatine slightest yesterday tensions appeared to beryllium easing aft the authorities showed willingness to enactment an informal consultation process until May 25.

Smiles successful Romania for PPC

Now moving beyond the borders, arsenic PPC’s stock superior summation program is being intensely discussed successful Romania arsenic well, wherever media monitoring of the contented is rather close. This is due to the fact that they presumption the summation arsenic the ground for a rhythm of large investments successful their economy. According to the concern program presented by Stassis’ management, astir 21% of the €24 cardinal five-year program volition beryllium directed to Romania for further improvement successful renewable vigor sources, storage, and strengthening the commercialized beingness of the subsidiary — that is, astir €5 billion. At the aforesaid time, the representation successful Bucharest confirms the strategy: ample PPC advertizing campaigns successful cardinal locations astir the metropolis and extracurricular the airdrome amusement that its beingness is not lone investment-related, but besides disposable successful the mundane beingness of the market.

The €4 cardinal superior summation gets underway

As for the €4 cardinal stock superior summation that volition concern PPC’s elephantine €24 cardinal concern plan, marketplace and large portfolio involvement remains strong. The implementation process efficaciously begins today, Tuesday 12/5, arsenic the institution announces its fiscal results for the archetypal 4th of the year. This volition beryllium followed connected Thursday, May 14, by the bonzer wide gathering wherever shareholders volition beryllium called upon to o.k. the implementation of the superior increase, with the book-building process opening a fewer days later. Contacts betwixt advisors, management, concern funds, and large planetary firms are ongoing, arsenic the program for planetary enlargement with large investments successful caller high-growth markets successful Central and Southeastern Europe is expected to alteration the Group. Characteristically, Citi, successful a study wherever it raised the people terms to €22.60 from the erstwhile €19, stated that PPC’s concern program for the 2026–2030 play changes the size, geographical reach, and profitability illustration of the Group.

Ryanair enters the clash

The Ryanair saga has nary end. Besides announcing past Friday the closure of its Thessaloniki basal for the autumn, citing precocious charges arsenic the reason, it besides became known yesterday that the hose has filed an objection with the Civil Aviation Authority regarding the 2026 interest operation astatine Athens International Airport. The objection was submitted during April, pursuing consultations held earlier successful the twelvemonth with the Athens airdrome implicit airdrome fees, arsenic happens each year. This is simply a favourite maneuver of the company, arsenic Europe’s largest low-cost hose had done the aforesaid past year, though that objection was yet rejected. The results of this year’s determination are expected soon arsenic well.

The Bank of Epirus plays distant from home

The Bank of Epirus is opening its archetypal subdivision extracurricular Ioannina, successful Agrinio, with hiring already underway. At the aforesaid time, positions person besides been announced for the Parga branch, which operates arsenic a earthy span betwixt Epirus and the Ionian region. Corfu is besides connected the skyline for 2026, with Athens arsenic the last destination. A twelvemonth ago, the statement was signed betwixt the slope and Capstone Capital, the concern conveyance of shipowner Petros Nomikos, for a €30 cardinal concern done a stock superior increase. The ceremonial procedures were completed… astatine the well-known Greek pace, but present the Bank of Epirus has beardown superior adequacy (32% of risk-weighted assets), among the highest successful the Greek banking system, and is preparing to assertion marketplace stock crossed the full country. A subdivision successful Athens volition unfastened soon arsenic well. CEO Giannis Vougioukas has agelong insisted connected a elemental yet revealing portion of arithmetic: retired of astir 850,000 businesses successful the country, lone 50,000 are considered “bankable” by the existent system. He believes galore much could qualify, provided they find a reliable spouse astatine their side. That is wherefore a London-based shipowner decided to put €30 cardinal successful a slope headquartered successful Ioannina.

Deutsche Bank says it sees nary hazard for OTE

For the 2nd clip successful conscionable a fewer months, Deutsche Bank appears to beryllium trying to downplay PPC’s introduction into the Greek telecommunications market. Last October, aft gathering with PPC executives, DB issued a telecoms study expressing beardown reservations astir PPC’s telecom strategy, emphasizing that the institution would look large difficulties with its fiber-optics venture. At the time, it besides noted that PPC was spending much successful the anticipation of recovering immoderate of the €250 cardinal it has invested successful telecommunications truthful far. DB returned yesterday with a caller study powerfully questioning, arsenic it characteristically states, that PPC volition yet not participate the mobile telephony market, successful the aftermath of the company’s information successful the Hellenic Telecommunications and Post Commission consultation regarding the granting of vigor spectrum usage rights. The slope chiefly cites repeated statements from absorption claiming determination is nary involvement successful mobile telephony, arsenic good arsenic findings from analysts’ meetings with PPC months ago. DB analysts besides accidental they would conflict adjacent much to recognize the logic of PPC allocating further superior to mobile services by gathering a 4th web successful Greece oregon operating wholesale connected an existing web successful bid to summation the attractiveness of its broadband offering and thereby retrieve portion of the further superior it is spending there.

The Heavy Metal fiscal backstage

Metallica thanked the 90,000 spectators who attended their Saturday performance astatine the Olympic Stadium. Information circulating suggests that the set had besides considered holding a performance successful Constantinople, wherever determination is simply a immense colonisation of young people. However, it seems the neighboring state did not privation Metallica successful Constantinople arsenic a halt connected the M72 European tour. They demanded €600,000 arsenic the stadium rental interest and an further €262,000 successful customs charges for the equipment, including the band’s awesome 360-degree signifier setup transported by dozens of trucks. Athens, by contrast, closed the statement with a €75,000 rental interest for OAKA and, naturally, zero customs charges owed to the escaped question of goods wrong the EU. Tickets for the OAKA performance sold retired wrong 2 hours, portion connected the secondary marketplace seats that primitively outgo €147 were sold for arsenic overmuch arsenic €300, and determination were besides premium seats priced astatine €3,460.

Forecasts for rising involvement rates

The Bank of Cyprus predicts that ECB deposit rates volition highest successful 2027. According to the bank’s estimates successful April regarding the way of the interest-rate curve, it sees ECB deposit rates averaging 2.6% successful 2027, portion for 2028 it forecasts a diminution that volition bring rates to 2.5%. As for 2026, it foresees rates rising to 2.25% successful the 3rd quarter, 2.3% successful the 4th quarter, and past expanding further the pursuing year. Regarding six-month Euribor estimates, it sees a highest successful the 4th fourth of the twelvemonth astatine 2.8% and attraction of that level done 2028. Analysts, however, regarding the ECB’s cardinal involvement rates, expect a 0.25 basis-point summation successful June and different the aforesaid size successful September. They judge the dice has already been formed concerning those decisions.

The afloat instrumentality of retail banking successful Cyprus

A look astatine the admittedly beardown fiscal figures of the Bank of Cyprus reveals a wide inclination successful its indebtedness portfolio: the afloat instrumentality of retail banking. In fact, this reflects a broader trend. Mortgage lending stands astatine €4.14 billion, portion different retail loans magnitude to €0.56 billion. At the aforesaid time, the next-largest category, lending to the hospitality sector, amounts to €1.27 billion. Overall, however, concern lending stands astatine €6.20 billion. Particularly awesome is the information that the bank’s non-performing loans correspond lone 1.1% of its portfolio, which, arsenic the slope itself says, is backed by precise high-quality collateral.

Greek banks go the “captains” of Greek-owned shipping

At a clip erstwhile the planetary banking strategy is progressively distancing itself from the shipping manufacture owed to stricter ESG regulations, higher superior requirements, and geopolitical risk, Greek banks are expanding financing for Greek-owned shipping, particularly recently built ships. Recent Petrofin Research information for 2025 bespeak a profound displacement successful the equilibrium of power. Total slope commitments for caller Greek-interest vessels reached $8.72 billion, up 3.24% compared to 2024. But the astir important constituent is not the summation itself. It is who is present providing the money. For the archetypal clip since the situation of the erstwhile decade, Greek banks are reclaiming a starring relation successful a tract traditionally dominated by overseas fiscal institutions from Germany, Scandinavia, and the Netherlands. And this is nary coincidence. The representation shows that the Greek banking marketplace has present regained credibility and superior adequacy, portion Greek shipowners progressively similar partnerships with banks that recognize the “language” of shipping and tin determination rapidly without the dense bureaucratic procedures of overseas groups.

Piraeus dominates

The astir awesome lawsuit is Piraeus Bank. With a portfolio of $2.09 cardinal successful financing for recently built ships, and with 81% of its full shipping vulnerability related to caller vessels, Piraeus intelligibly shows that it sees shipping not arsenic a “risk” but arsenic a strategical maturation bet. The information that wrong 1 twelvemonth it accrued its information successful caller projects by 14% reveals assertive enlargement successful a assemblage wherever astir European banks are choosing to trim exposure. The National Bank of Greece besides maintains a beardown position, with $2.52 cardinal successful financing for recently built ships. Despite a flimsy yearly decline, the National Bank continues to enactment arsenic a cardinal liquidity pillar for large Greek shipping families, confirming that the historical ties betwixt banks and shipowners person not weakened but are strengthening erstwhile again. Eurobank follows the aforesaid pattern, having built a beardown beingness successful financing “green” and technologically precocious ships, with commitments of $1.8 billion. This strategy is becoming particularly important arsenic planetary shipping violently enters the epoch of vigor modulation and strict biology regulations. Even much absorbing is the emergence of Alpha Bank, which accrued financing for recently built ships by 16%.

The essence

And this is wherever the essence of the substance lies. At a clip erstwhile large European banks are reducing their shipping vulnerability — with the retreat of ABN AMRO Bank being diagnostic — Greek banks are filling the spread and gradually becoming the main financiers of the world’s largest commercialized fleet. In applicable terms, this means that Greek shipping is gaining greater autonomy successful financing its investments without depending exclusively connected overseas syndications and planetary groups, portion Greek banks are reconnecting with 1 of the strongest and astir profitable pillars of the Greek economy, creating a caller bank-shipping “duo” that could power the country’s wide improvement trajectory.

From Piraeus to Dubai: Byron Vassiliadis’ caller move

Byron Vassiliadis is continuing the dependable enlargement of V Group’s planetary presence, this clip choosing the United Arab Emirates. The licensing of the caller company, ANTIPOLLUTION ENVIRONMENT SERVICES L.L.C S.O.C successful Dubai, is portion of a broader strategical positioning of the radical successful markets powerfully connected to shipping and energy. This concern comes astatine a clip erstwhile planetary shipping is progressively turning toward biology management, compliance, and pollution-response services. V Group is gaining a carnal beingness successful a marketplace wherever increasing request is emerging for specialized biology services for shipping. With this move, the radical seeks to instrumentality connected an adjacent much progressive relation internationally. For those pursuing V.V.’s moves, the enlargement into Dubai besides shows that V Group is choosing to presumption itself aboriginal successful regions wherever investments successful “green” shipping and biology infrastructure are expected to summation successful the coming years.

In Paris

The TPICAP league took spot successful Paris, wherever Greek listed companies participated for the archetypal time. Among the companies lasting retired astatine the league was AVAX, with much than 20 meetings with organization investors. The Greek operation radical arrived successful the French superior backed by the favorable momentum created by caller reports from Eurobank (initiation of sum with a people terms of €4.85) and Piraeus Bank (upgrade of the people terms to €4.50 from the erstwhile €3.30). The company’s valuation remains charismatic (EV/EBITDA < 6x), drafting involvement from organization investors who spot a palmy maturation story.

Derivatives bespeak a large shift

The derivatives marketplace shows that successful conscionable six weeks, marketplace sentiment has changed dramatically. Whereas astatine the extremity of March fears of recession, geopolitical tensions, and monolithic de-risking dominated, contiguous investors erstwhile again look consenting to instrumentality connected risk. The clearest motion of this reversal comes from the options market. On March 27, the Gamma Exposure scale (an indicator showing however large banks and marketplace makers are positioned successful the options market) recorded 1 of the astir antagonistic readings successful past (-$7.24 cardinal — the 2nd astir antagonistic GEX speechmaking ever recorded, down lone January 2022), reflecting aggravated nervousness and heightened fearfulness of convulsive stock-market moves. Six weeks later, the representation has wholly reversed, with Gamma Exposure present astatine 1 of the highest affirmative levels ever recorded (+$21.3 billion, present the 8th highest affirmative GEX speechmaking successful history). In practice, this means the marketplace is moving from a signifier of utmost uncertainty into a play of greater stableness and optimism. Investors look to beryllium betting erstwhile again connected accelerating growth, continuation of the concern rhythm astir artificial intelligence, and little marketplace volatility. Analysts enactment that akin signals appeared successful 2021, during a play erstwhile markets continued to determination sharply upward. This does not needfully mean past volition repetition itself, but it does amusement however rapidly capitalist science has changed successful a precise abbreviated time.

The taxation of hope

The latest authoritative figures amusement that Americans walk much than $109 cardinal each twelvemonth connected lotteries of each kinds. They walk much than they bash collectively connected movies, books, concerts, and sporting events combined. In 2023, a historical grounds was acceptable with expenditures reaching $113 billion. In 2024, income reached $104.7 billion, astir treble the level of 2008. Experts estimation that astir 40 cardinal households are regular lottery players, accounting for 80% of full authoritative gambling expenditure and belonging chiefly to the astir financially susceptible income groups, spending connected mean $2,500 annually.

Loss-making OpenAI distributes bonuses and reshapes California existent estate

The Wall Street Journal revealed the time earlier yesterday that past October, much than 600 existent and erstwhile OpenAI employees liquidated shares worthy a full of $6.6 billion. On average, each idiosyncratic received $11 million. For 75 of them, the magnitude reached $30 million. Those who received shares 7 years agone saw their worth multiply much than 100-fold during a play successful which the Nasdaq simply tripled. The mechanics itself is interesting. It was a tender offer, progressively utilized by ample backstage exertion companies to supply liquidity to employees portion bypassing nationalist banal markets. Buyers of those shares included organization investors specified arsenic Thrive Capital, SoftBank, Dragoneer, MGX from the UAE, and T. Rowe Price. The transaction resulted successful OpenAI’s valuation soaring to $500 billion. OpenAI remains loss-making contempt monthly revenues of $2 billion. The attraction of caller wealthiness among a fewer 100 employees successful the aforesaid metropolis dramatically changed the San Francisco real-estate marketplace — earlier Wall Street’s opening doorbell had adjacent rung.

Why Bitcoin woke up

The planetary betting level Polymarket predicts determination is present a 74% probability that the celebrated Clarity Act volition beryllium passed successful the United States by 2026. Three weeks ago, the probability stood astatine 45%. The Clarity Act is the instrumentality announced by President Trump establishing a broad regulatory model for integer assets successful the United States, granting exclusive oversight of integer commodity spot markets to the CFTC portion preserving SEC jurisdiction implicit concern declaration assets. The CFTC (Commodity Futures Trading Commission) is the autarkic U.S. national regulatory authorization overseeing derivatives markets: futures, options, and swaps successful commodities, involvement rates, currencies, and fiscal products. Put simply, the caller instrumentality for the archetypal clip draws wide boundaries betwixt the Securities and Exchange Commission (SEC) and the CFTC. The cardinal obstacle resolved successful Congress acrophobic stablecoins. Senators Tillis and Alsobrooks yet agreed connected connection prohibiting cryptocurrency companies from offering involvement connected stablecoin deposits. This satisfied the banks. However, it allows “rewards” linked to “investment” enactment involving stablecoins. If the Clarity Act is passed, for the archetypal clip the world’s largest system volition person wide rules for integer assets, opening the doorway to organization superior that presently remains connected the sidelines due to the fact that of ineligible uncertainty.