The headache with the farmers, the AI harvest, Samaras and the Rafina gatherings, the unmovable (like a needle) Nikos, and Pavlos the Lionheart, the back-and-forth on insurance issues

Hello, I deliberation the astir superior contented these days is neither the 1 astir Routsis nor what Varras said successful Parliament astir OPEKEPE. It’s what volition hap to unblock the strategy truthful that OPEKEPE tin commencement paying the thousands of farmers who, if things proceed similar this, will… clang down connected the government’s head. And arsenic everyone knows, wealth is nary joke. At the Maximos Mansion, those who cognize what’s going connected — essentially, astatine the moment, there’s an inability to negociate farmers’ payments successful the mode the Europeans request — are peculiarly anxious. Yesterday, Tsiaras went to spot Mitsotakis; I haven’t learned the details, but a solution inactive hasn’t been found. Nor volition it beryllium easy. But thousands of unpaid farming families (owed astir €2 billion) are nary tiny matter, particularly those who aren’t to blasted due to the fact that they didn’t cheat — and they’re the immense majority.

Voridis, Varras, and the Inquiry Committee

Since we’re talking astir OPEKEPE, Makis Voridis waited a fewer hours to afloat larn and measure what Grigoris Varras said to the Inquiry Committee, and I indispensable say, those who person spoken with him person heard precise absorbing things. To start, fto maine archer you there’s nary script wherever Voridis won’t beryllium called to attest earlier the Committee, adjacent if he’s not presently connected the witnesser list. Makis is susceptible of going connected his own, successful bid to rise a bid of concerns, chiefly astir what Varras said without providing evidence. For illustration — however tin you assertion that a institution has a “front man” and an “executor” who’s a minister, without substantiating it? Because Varras didn’t contiguous immoderate evidence; helium conscionable expressed his opinion. Also, from Varras’ memorandum to Mylonakis — which, you should know, Voridis was alert of earlier it was submitted — different things look that Varras attributes to Voridis: not that helium consented to the “technical solution” (which Varras himself implemented), but that Voridis tried to look arsenic the 1 pushing for the assignment of the OPEKEPE method consultant. However, Varras mentioned thing astir this successful his statements to the European Public Prosecutor’s Office, which led to Voridis’ sanction being drawn into the lawsuit and his consequent resignation. Furthermore, from Voridis’ nationalist station successful response, I consciousness helium has a antithetic mentation of the existent reasons down Varras’ resignation and the existent events — but he’ll accidental those erstwhile he’s called earlier the Inquiry Committee. Here, of course, arises a elemental question astir Varras and the Maximos Mansion: however tin idiosyncratic who’s an worker of the Prime Minister’s Office witnesser “signs and wonders” happening, not pass the PM, and aft saying each he’s said, inactive stay an worker there? The quality psyche is an abyss…

Blue Books

Now let’s determination to past night’s “blue” (i.e. New Democracy) lawsuit for the presumption of MP Stylianidis’ book. As you tin imagine, the lone crushed each those bluish enactment figures showed up wasn’t their heavy involvement successful what Evripidis had to accidental astir AI — it’s not similar John McCarthy himself was there! They went because, well, it’s similar attending a household relation you person to spell to — not rather a wedding, much similar a mild memorial work — truthful you won’t get scolded by the relatives. The information that Samaras didn’t amusement up, for immoderate reason, needs nary remark — either way, let’s permission the antheral successful peace; helium doesn’t adjacent formally beryllium to New Democracy anymore. In immoderate case, the authorities won’t summation oregon suffer points due to the fact that of books, Rafina gatherings, oregon Karachalis appearances. If they absorption connected hard regular work, thing mightiness get done…

The Substitute Teachers

A spot aft 4 p.m. yesterday, determination was a gathering astatine the Maximos Mansion betwixt Mitsotakis, his associates, Sofia Zacharaki, and officials from the Education Ministry astir the contented of substitute teachers. It’s a superior matter, arsenic galore schools person gaps, and Zacharaki besides needs funds to proceed with the 3rd hiring signifier for substitute teachers to capable the remaining vacancies from erstwhile rounds. From what I understand, the Prime Minister’s Office intends to find a solution, due to the fact that complaints are piling up.

Green News

Now let’s crook to immoderate PASOK quality — not that thing large happened, but it’s been a while. Officially, we had past heard from “bravehearted Pavlos,” who said our beloved Nikos’ (the “little leader’s”) needle has been stuck astatine 12–13% for 2 years, and if it doesn’t determination by January, we’ll determination him from his chair. Anna (the modernizer) had besides said thing similar “PASOK isn’t Karysstianou’s,” but past got frightened and backtracked. That’s astir it. Now, however volition Nikos beryllium “unseated,” fixed that he’s nary longer the “darling” of the establishment, I don’t know. Not casual — though nary oligarch pays him immoderate attraction anymore. Still, Androulakis is fortunate because: A) Pavlos the Lionhearted is reasoning of triggering a enactment alteration process wrong the parliamentary group, but, I’m told, helium can’t stitchery much than 10–12 MPs consenting to regenerate Nikos. B) Anna says, “Hold connected — we’ll regenerate 1 idiosyncratic conscionable to enactment another? What astir me?” C) Haris Doukas feels the aforesaid mode — helium says, “Guys, I’m a mayor, I’ve got work. You mightiness not, but I do, truthful I don’t privation Nikos to change.” Because, well, Nikos is similar long-life beverage — expires slowly, but eventually, the day comes. So the slogan “Nikos, enactment beardown — truthful the Right tin go!” remains much applicable than ever.

Who the Allianz CEO Met successful Athens and What Fairfax Was Doing There

People support coming and going successful Athens. About 20 days ago, the CEO of Allianz visited Athens and met with National Bank’s CEO, Pavlos Mylonas. What they discussed isn’t known, but we tin each conjecture — since National Bank has been moving a process to regenerate its practice with National Insurance. The statement with Piraeus Bank is coming precise soon; National volition past denote its caller partners, and by year’s end, National Insurance volition person passed nether Piraeus Bank. That volition settee things — for now. As for different visits, accusation arrived that astatine the extremity of September–early October, Prem Watsa was successful Athens — specifically astatine the One & Only successful Glyfada — for meetings. Upon checking, it turns retired Watsa was past successful Athens successful aboriginal August, conscionable successful transit from Canada to Sri Lanka for vacation. Once that rumor was cleared up, caller info came in: astir 10 days ago, it wasn’t Watsa himself, but a radical of his apical executives who were astatine the One & Only. That’s confirmed, and the crushed for their sojourn was to be a Eurolife committee meeting. However, lone 1 of them — Wade Burton — really sits connected Eurolife’s board. So wherefore they each flew from Canada to Athens unneurotic remains unknown.

GEK TERNA: The “Treasure” That Could Add €4 per Share

Only the ceremonial procedures and approvals stay earlier the already-exercised put/call options instrumentality effect — the ones nether which GEK TERNA volition get 50% of the 730 MW pumped-storage hydro task nether operation successful Amfilochia. Under the statement reached with Masdar for TERNA Energy, GEK TERNA obtains fractional of Greece’s largest energy-storage concern — and 1 of Europe’s astir important energy-infrastructure projects. During the group’s caller expert briefing, absorption emphasized the value of this investment. Based connected that, AXIA Ventures went a measurement further: successful a caller enactment it highlights the project’s disposable semipermanent currency flows and estimates imaginable worth instauration exceeding €4 per stock — astir €400 cardinal for GEK TERNA. AXIA calculates that, for the Amfilochia project, GEK TERNA volition participate astatine a valuation aggregate of astir €1.1 million/MW, portion akin assets (with a beingness span of much than 100 years) are trading connected the marketplace astatine €2–3 million/MW, according to caller transactions successful Spain and Portugal. In its existent valuation model, AXIA assumes little than €100 cardinal successful worth for GEK TERNA’s hydro-storage assets. It notes that its people terms for the banal stands astatine €27.40 (vs. €22.52 yesterday’s close) and that it volition update its models upward to bespeak the added value.

Spanos Sells, Bioiatriki Buys

More interior transactions took spot wrong the Bioiatriki Group. This summer, aft committee approval, the radical bought for €500,000 the 250 shares (50%) of CrossBorder MedCare Europe A.B. owned by Chairman & CEO Georgios Spanos, frankincense taking afloat power of the company, which operates medical-care facilities successful Sweden and Greece and functions arsenic Bioiatriki’s International Patients Center. Recently, different interior woody was approved. On September 2, the committee granted peculiar support for a real-estate acquisition from the aforesaid CEO. The transaction involves a 422.5 m² first-floor spot successful Kifisia (225–227 Kifisias Ave., country “Kampos”/“Koimisi”) for a full terms of €1.25 million. The terms was deemed “reasonable, just and beneficial” to the company. Payment volition beryllium made successful 2 parts: €500,000 upon signing a preliminary contract, €750,000 upon signing the last deed earlier a notary. The spot already houses a Bioiatriki+Derma dermatology center, successful cognition for respective years.

Polys Hadjioannou Expands into Tankers

Polys V. Hadjioannou, precocious elected President of the Cyprus Shipowners Association, is expanding beyond adust bulk into the tanker market. His backstage (non-listed) institution has ordered 2 MR-type tankers from Cosco Shipyards successful China. Cosco had 2 vacant slots and made an charismatic offer, which Hadjioannou accepted. Until now, Safe Bulkers’ fleet consisted solely of dry-bulk carriers. As the Cypriot shipowner joked: “With 5 children entering the business, we don’t privation them competing lone successful the constrictive dry-bulk market!”

Why George Prokopiou Is Furious (and Has 103 Ships connected Order)

Next week successful London, astatine the International Maritime Organization (IMO) headquarters, a important statement begins connected adopting caller measures for afloat decarbonization of shipping. The proposals necessitate vessels to usage alternate fuels that don’t yet beryllium successful capable proviso — and, failing that, to wage a levy per ship. A conception of shipowners is up successful arms. “We are outraged,” said George Prokopiou successful a broadside treatment during the reception hosted by the President of Cyprus past Sunday for Greek and Cypriot shipowners, arsenic portion of the Maritime Cyprus Conference. The measures are seen arsenic tax-heavy, with the added costs yet passed connected to consumers. Prokopiou — similar Donald Trump, a beardown hostile of specified regulations — urged IMO Secretary-General Arsenio Dominguez to intermission the process until conditions mature. He adjacent revealed the scope of his existent shipbuilding programme to underscore that his presumption stems from hands-on concern experience: “I person 103 ships connected bid — I’m asking lone for the champion disposable solution.”

Thanasis Martinos and the Paradoxes of the EU

And I proceed from Cyprus, wherever Thanasis Martinos, being successful Limassol, explained the paradoxes of the European emissions trading strategy (ETS). It concerns ships that attack European ports. Pay attraction to what happens successful practice. A 100,000-ton tanker that departs from the Arabian Gulf and reaches Europe travels for a full of 90 days. Of those, lone 10 are spent successful European waters. Nevertheless, the vessel is charged taxes for the full voyage. The aforesaid happens with ships that question to Africa, Asia, oregon America — companies are charged for emissions that are not produced successful Europe. This full concern leads, successful a textbook way, to higher prices for European citizens.

Departure aft 17 Years astatine the Eurobank Group

After 17 years successful the Eurobank Group — the archetypal 5 astatine Eurobank Equities and the past 12 astatine its Luxembourg subsidiary — accusation indicates that Pietro Corpi, Head of Private Banking and International Operations astatine Eurobank Luxembourg, is changing course. The Greek backstage banker of Italian descent has decided that the aboriginal belongs to shipping. I would accidental “fair winds,” but that’s been overused lately.

The Premiere of Intralot

Today, trading begins connected the Stock Exchange for Intralot’s caller shares, pursuing the completion of its superior increase, from which it raised astir 420 cardinal euros astatine a terms of €1.10 per share, on with the palmy enslaved issuance. Market sentiment toward the stock is peculiarly positive, particularly aft the announcement of the salient names present included successful its shareholder register. Intralot has secured loans of €660 cardinal and, unneurotic with the bond, different €850 million. The caller Intralot volition commencement with nett indebtedness corresponding to astir 3.2 times its pro forma operating earnings, with absorption estimating that 95% of EBITDA volition beryllium converted into escaped currency flow. The South Korean Soo Kim present appears arsenic the main shareholder of Intralot with 60% of the caller entity. Yesterday, the banal closed up +0.17% astatine €1.16, bringing its marketplace capitalization to €700.7 million.

The Banking Party Gives an Opportunity for the Dance of the “Smalls”

The clime successful the large European superior markets was not suitable for Athens to observe its reclassification into the Developed Markets of FTSE Russell, nor the enthusiastic study by JP Morgan connected the prospects of our banking sector. As expected, aft the bully news, the General Index began yesterday’s league successful precocious spirits, reaching conscionable a enactment distant from 2,100 points — specifically 2,098.36 points (+1.39%). However, aft midday, the Greek marketplace looked astir and saw that the different banal exchanges did not stock its enthusiasm, truthful the league closed with the General Index astatine 2,083.59 points (+0.68%). The worth of transactions reached €237.7 million, of which €129.3 cardinal acrophobic the banking assemblage and €27.5 cardinal were successful 20 artifact trades, of which lone 4 progressive a azygous banking stock (Eurobank). The important emergence of banking stocks gave the accidental for the small, precise small, and mid-cap companies to creation freely connected the board. We saw the IT institution Ilyda (+14.19% astatine €4.99) continuing its chaotic enactment (+33.78% successful 7 days), EKTER (+6.19% astatine €2.49) reaching a capitalization of €67 million, Proodeftiki (+8.05% astatine €0.51) valued astatine €12.4 million, and Daios Plastics (+6.02% astatine €7) with a marketplace capitalization of €105.7 million.

Who Gained and Who Lost After the FTSE Russell Upgrade

Yesterday, the systemic banks “locked in” astatine caller multi-year records, with the assemblage scale stopping supra 2,400 points for the archetypal clip successful astir 10 years — specifically since November 18, 2015, erstwhile it had closed astatine 2,713.40 points. Also astatine their highest levels since November 2015 were Eurobank (€3.565), National Bank (€13.65), and Alpha Bank (€3.79), with the archetypal breaking the “barrier” of €13 cardinal successful capitalization. Piraeus Bank (€7.544) roseate to its highest level since March 2021. The returns of the systemic banks this twelvemonth scope betwixt +59.8% and +134.3%. However, determination were besides stocks that recorded beardown declines aft the FTSE Russell decision, closing astatine multi-month lows. Jumbo retreated to astir €28 — a level not threatened since the extremity of past June. Yesterday’s “dive” of 2.8% was accompanied by precocious trading measurement for the stock, astir €14.6 million. Among the large losers was Athens International Airport, which moved further distant from the intelligence bounds of €10. It has seen lone antagonistic signs during October, completing six sessions of cumulative losses exceeding 5%. At the aforesaid time, the Eleftherios Venizelos airdrome banal closed astatine its lowest level since mid-July, portion the €3 cardinal valuation is nether threat. EYDAP besides recorded caller beardown losses, widening the spread from its caller peaks, closing astatine a three-month debased (a antagonistic grounds since past July). The ADMIE stock is “flirting” with prices beneath €3, ending astatine its lowest constituent since June 19, arsenic it continues to beryllium weighed down by its quality with Nicosia implicit the Greece–Cyprus powerfulness cable.

The Next… Investment Moves of the PotUS

Times person changed. In the aged days, banal marketplace analysts began their time by speechmaking analyses astir companies’ figures, the involvement complaint environment, inflation, etc. Today, Wall Street brokers commencement their analyses… trying to predict… successful which banal the American State volition put contiguous successful bid to springiness it momentum. Yesterday, each analyses began with President Trump’s connection (October 6) that “the U.S. powerfulness grid is aged and tired.” They combined this connection with the enforcement bid signed by the PotUS connected April 8, 2025, for the strengthening of the reliability and information of the powerfulness grid, successful which it was emphasized that determination are presently astir 80 cardinal transformers successful the U.S., with an mean property of implicit 40 years, and that their renewal is of captious value for the network’s operation. Thus began the crippled of “hide and seek.” In which institution volition the U.S. authorities invest? In a ample nationalist inferior institution (NextEra Energy, Duke Energy, Southern Company, American Electric Power (AEP), Electric Utility Companies)? Or possibly successful a web infrastructure institution (Quanta Services, Eaton Corporation)? Trump himself declared that helium would marque specified deals “all day,” and economical advisor Kevin Hassett said that it is apt the authorities volition instrumentality stakes successful much companies, arsenic it has already done with Intel – 9.9%, MP Materials (rare earths), Lithium Americas – 5%, Trilogy Metals – 10%, and U.S. Steel with the “golden share.” Stock analysts successful the relation of the Oracle of Delphi…

The Best Business Schools successful the World Are French

The French system whitethorn beryllium facing superior fiscal problems, but successful the tract of acquisition it records awesome archetypal places. The Financial Times, aft an extended yearly survey, precocious published the planetary ranking of postgraduate programs successful the tract of Business Administration for 2025. At the apical of the list, French concern schools predominate — thing that reflects France’s starring relation successful the European acquisition scene, particularly successful the tract of concern management. HEC Paris, ESSEC Business School, and ESCP Business School inhabit the apical 3 positions, securing the outstanding estimation of the French absorption acquisition system. Among the apical 12 positions, 6 beryllium to French acquisition institutions that are pioneering successful innovation, attracting planetary students, and connecting with the labour market. There are surprises successful the list: the Nova School of Business and Economics from Portugal and the Rabat Business School from… Morocco inhabit precocious positions successful the ranking. Nova SBE stood retired for its planetary illustration and strategically designed links with businesses, portion Rabat makes its people arsenic a dynamic, emerging halfway of acquisition excellence successful North Africa.