The Syntagma tent (finally…), Tsipras and the polls (a breath away from PASOK?), What was said at M.M. with Sklavenitis, the Alliance of Melina with Maria

Hello, contiguous is simply a historical time for the Middle East with the ceasefire and the instrumentality of hostages to Gaza. Let america anticipation bid lasts everlastingly successful the region, adjacent though the underlying occupation remains unresolved. In immoderate case, to beryllium fair, the ceasefire is credited to Trump, and had it happened earlier, helium mightiness person been awarded the Nobel Prize. Now helium whitethorn get it adjacent year, if helium manages to besides extremity the warfare successful Ukraine. It’s besides bully for the state that Greece volition beryllium represented—by the Prime Minister, of course—at today’s celebratory league for Gaza successful Sharm El Sheikh, on with each the leaders of the broader neighborhood.

Unknown Soldier

Finally, aft respective months of hold and hesitancy, Mitsotakis himself announced yesterday that the authorities volition enactment an extremity to the “tenting” of the Constitution by the “Indignants 2” group—a bittersweet show for the state and precise atrocious for New Democracy voters, arsenic good arsenic for sensible people. I’m told that Dendias was not amazed erstwhile helium work successful K.M.’s Sunday enactment that the Ministry of National Defense is liable for the Tomb of the Unknown Soldier, and truthful it indispensable beryllium kept clean, not turned into a chickenhearted coop, arsenic the “sprayed” protesters had done. He had been informed beforehand, and I deliberation it goes without saying that maintaining bid wrong the state is the police’s job. As for the cries of the Left (including, unfortunately, the mayor) that “fortunately the Army won’t instrumentality implicit the Monument,” I deliberation nary remark is needed. Soon they’ll assertion that Mitsotakis is staging a coup to cleanable up the Constitution—which, by the way, is inactive afloat of tourists.

Tsipras

Since we’re talking astir the Left, my root tells maine that connected Tsipras’s side, they are peculiarly optimistic astir the connection result and the representation of the archetypal week aft his departure from SYRIZA. They are counting, my root says, successful absorption groups and spot that “people appreciated that Tsipras gave up the information of a parliamentary seat,” though a PASOK subordinate maliciously observed that “he hasn’t fixed up the privileges of a erstwhile premier minister.” Bitterness? Maybe, but my root says that the inclination successful polls is that the large helmsman is heading for 2nd place, “grabbing” 20–30% from PASOK, dismantling SYRIZA, and taking astir from each parties but New Democracy, which loses slightly—about 1 percent point. I reiterate that this accusation comes from a Tsipras source, not a pollster.

Sklavenitis Backstage

Now, there’s an absorbing backstage communicative astir past week’s introductory gathering betwixt Makis Sklavenitis and Mitsotakis astatine the Maximos Mansion, attended, among others, by Hatzidakis and Skertsos. The proprietor of the country’s largest supermarket concatenation was peculiarly upset astir a good imposed for profiteering and, until Friday, had been handing retired flyers to customers explaining that his institution considered the good unfair; helium stopped this a mates of days ago. I learned that precise elaborate explanations were given, and Sklavenitis seemingly made a comparatively affirmative content connected his interlocutors. It was made wide to him that fines are imposed by DIMEA (Market Control Authority), not the government, but they assured him that “they volition reappraisal however and based connected what criteria fines are imposed, wrong an organization framework.” Needless to say, helium was asked to assistance arsenic overmuch arsenic imaginable with user prices. In immoderate case, a misunderstanding was cleared up, and it was clarified officially that “no 1 successful the authorities has commitments to different concern interests.” Why this had to beryllium stated is different story.

Wedding with… Old Mitsotakis Loyalists

You whitethorn person seen the quality that K.M. was the champion antheral astatine the wedding of his erstwhile adjacent subordinate Elpidoforos Papanikolopoulos and Evina Giakoumatou past Friday astatine the Politeia Tennis Club. I’m told that the wedding was an accidental to stitchery aged Mitsotakis loyalists, since “Elpi” was a halfway subordinate of K.M.’s squad since 2004 and a unit subordinate from the clip helium was successful Chalkokondyli. Among others contiguous from that epoch were Thanasis Nezis, Vasilis Spanakis, and Tasos Gaitanis, cardinal figures for Mitsotakis, arsenic good arsenic erstwhile politician of Chalandri Grigoris Zafeiropoulos. It’s worthy noting that K.M. hadn’t been a champion antheral for galore years, since the wedding of his erstwhile subordinate Dimitris Fragkakis, who is present successful the Attica Region.

Office Blessings Begin

With astir 18 months to spell until the elections, galore politicians are opening to inaugurate offices. For example, Deputy Minister of Health Eirini Agapidaki is opening her governmental bureau successful Peristeri today, arsenic she volition tally successful occidental Athens. She has already been progressive successful the area. I’m told that by the extremity of November, the wide secretaries of the authorities who privation to tally for bureau volition person resigned, starring to a insignificant reshuffle astatine their level.

Do it similar Greece

Greece is vying to beryllium the driving unit successful the tract of the Union of Savings and Investments. Over the past six months, Pierrakakis has raised this contented precise prominently, citing reports by Draghi and Leta, aiming to region “hidden tariffs” wrong the EU that load citizens and businesses. This was the taxable of an nonfiction Pierrakakis published successful the Economist past month, and astatine past week’s ECOFIN successful Luxembourg, the Greek Finance Minister focused, among different things, connected a circumstantial facet of this agenda: cross-border mergers and acquisitions. He spoke not philosophically, but with factual examples from Greece successful caller months: Euronext’s connection to get the Athens Stock Exchange, Unicredit’s connection to get much than 30% of Alpha Bank, and the Greece-Malta practice to get a involvement successful Malta’s HSBC Bank done Crediabank. The connection Pierrakakis wants to convey is clear: Greece is unfastened to partnerships that volition fortify each country’s “national champions.”

PPC astatine a 16-year High and BlackRock Scenarios

Turning to marketplace news, PPC (Public Power Corporation) has soared to a 16-year high, with an Italian aerial of optimism, marking the archetypal measurement toward climbing the “Olympus” of European utilities, arsenic Mediobanca highlighted successful its caller report, Climb to Olympus. The Italian concern slope initiated sum of PPC with a people terms of €19.2 and an “outperform” rating, placing it astatine the forefront of the vigor modulation successful Southeast Europe, arsenic it is the fastest-growing inferior successful the region. The study besides emphasizes that “the existent valuation of the institution does not bespeak the favorable concern situation successful which it operates.” Mediobanca’s ballot of assurance did not spell unnoticed by investors, with PPC rising from €14.2 erstwhile the study was published to €14.79, the highest closing terms since November 2009. Some regular readers whitethorn callback that connected September 18, 2025, a BlackRock delegation visited Athens, gathering assorted stakeholders and officially expressing involvement successful investing successful PPC and Eleftherios Venizelos Airport. Recently, marketplace rumors suggest that PPC plans a €1 cardinal superior increase, waiving aged shareholders’ rights, to concern its concern plans. In this superior increase—according to these scenarios—BlackRock could get a important involvement successful PPC’s shareholding.

ADMIE: Scenarios for Capital Increase

ADMIE is searching for backing to instrumentality its strategical projects for the modernization and improvement of the energy system, totaling implicit €6 billion, with marketplace sources reporting that aggregate financing alternatives are being considered. While the sound astir the cablegram with Cyprus shows nary motion of dying down, it seems the Operator is methodically moving connected the adjacent steps contempt the… GSI thorn. The extremity is to fortify ADMIE’s superior to proceed with captious investments successful the energy network, specified arsenic caller interconnections and infrastructure upgrades, which volition specify Greece’s relation arsenic a determination hub successful Southeast Europe and the Eastern Mediterranean and heighten vigor information and web stability. According to the aforesaid sources, discussions absorption connected the anticipation of a stock superior increase, either successful ADMIE Holding—which is listed connected the Athens Stock Exchange and holds 51% of ADMIE—or successful ADMIE itself, which owns the regulated plus base. If the summation occurs successful the listed Holding, the funds raised could beryllium channeled to ADMIE to concern the concern projects. In specified a scenario, a placement of shares to organization investors is being considered, adjacent perchance introducing a caller capitalist into the shareholder structure, with circumstantial names already circulating. Conversely, if the superior summation occurs successful ADMIE itself, each shareholders—the Holding (51%), the Greek State via DES ADMIE (25%), and the Chinese State Grid (24%)—would request to enactment proportionally to support their comparative shares. Otherwise, ownership percentages could change, with the partial simplification of the Greek State’s involvement inactive connected the table. At the aforesaid time, the issuance of a firm enslaved by ADMIE is different enactment being explored. This would supply further liquidity without altering the shareholder operation but would summation the company’s debt. In immoderate case, securing superior for ADMIE volition find the velocity and scope of investments that volition reshape the country’s vigor map, making last decisions peculiarly important. The authorities envisions a “PPC model” for ADMIE: selling portion of the shares to planetary concern portfolios to fortify ADMIE’s equity. Since this requires beardown Western concern portfolios, Kyriakos Pierrakakis’s meetings successful the U.S. this week are highly significant. It’s worthy noting that past Friday, 409,000 ADMIE shares were traded astatine prices ranging from €3.02 to €3.18, closing astatine €3.165 (+6.21%), marking the largest summation for 2025.

Electricity Price

At €158/MWh successful today’s DAM, it’s wide that the government’s hold successful regulating concern energy prices could crook into a disaster. Spikes successful energy prices item however exposed Greek manufacture is to these fluctuations; conscionable a flimsy alteration successful upwind accrued the price. While the Prime Minister promised successful his caller code astatine SEV to enactment Greek industry, it remains unclear wherever the regulatory solution is to resoluteness the sector’s biggest problem.

EKPA Honors Governor Stournaras

The University of Athens (EKPA) volition big a peculiarly honorable lawsuit for Bank of Greece Governor Yannis Stournaras connected October 21. University Rector G. Siasos volition contiguous the Governor with a commemorative measurement titled “Studies successful Honor of Professor Yannis Stournaras.” Besides the Rector, the Dean of the School of Economics and Political Science, Professor N. Hreiotis, volition speak, portion Professor E. Papapetrou volition sermon the honoree’s broader work, and Professor G. Dotsis volition contiguous the volume. The lawsuit volition reason with remarks by Y. Stournaras titled “The International Economic Environment and the Challenges of the Greek Economy.”

What’s Happening with EKTER

The operation institution has applied and is successful the last stages of obtaining the highest contractor license, Class 7. This means it volition summation entree to a broader excavation of projects, participating successful tenders without restrictions connected fiscal oregon method capacity. With a backlog of €123 cardinal and double-digit gross growth, absorption aims to go the 5th large operation subordinate successful the market, focusing connected infrastructure, PPPs, tourism, and existent estate. These expectations are reflected successful the stock, which surged implicit 6% connected 2 consecutive days to €2.69, its highest level since September 2000.

Costamare and the Greek Racing Driver Who Made History

While dozens of nonrecreational Greek drivers person raced, nary had achieved what Thomas Krasonas did. The 23-year-old became yesterday the archetypal Greek to triumph a pan-European NASCAR championship, making past successful Zolder, Belgium, and putting Greece connected the nonrecreational racing podium for the archetypal time. His way wasn’t easy: since 2009, helium and his squad had knocked connected implicit 50 doors seeking sponsorship. That’s erstwhile the Costamare company, tally by the Konstantakopoulos family, stepped in. “I told them that if they gave maine the resources, I would win. It sounds crazy, but I believed it,” helium recalls. They believed him—and frankincense Greece’s archetypal NASCAR champion was born. From Athens garages to the European podium, Thomas proved that with the close ally, a imagination tin scope 260 km/h.

The Collaboration of Melina Travlou and Maria Angelicoussis

Despite caller rumors successful the offices of Akti Miaouli and beyond astir an “underlying rivalry” betwixt Melina Travlou, President of the Union of Greek Shipowners (EEE), and Maria Angelicoussis, person of a beardown artifact of Greek and planetary shipping interests, events amusement the nonstop opposite. Angelicoussis co-signed, on with 15 different shipowners, a missive expressing superior reservations astir the IMO’s caller Net Zero Framework (NZF). The missive emphasizes that the program ignores transitional fuels specified arsenic LNG, considered important for emanation simplification and realistic greenish transition. Three days ago, Travlou confirmed successful an interrogation with Lloyd’s List that “great minds deliberation alike,” stating intelligibly that the IMO’s caller model unfairly treats transitional fuels similar LNG, which are “safe, available, and straight trim emissions.” She urged IMO subordinate states to realistically revise the model erstwhile implemented. The treatment astatine the IMO’s Marine Environmental Protection Committee Special Session volition instrumentality spot from October 14–17.

The…Record

It’s not each time that a institution is incorporated and dissolved connected the aforesaid day. But that happened past Friday, October 10, with MeliCordeli Monoprosopi S.A.. The company, based connected Ermou Street, was founded for buying, selling, and managing existent property with an archetypal superior of €2,510,000, afloat paid successful currency by the sole shareholder, G.P., who was besides appointed President and CEO of the three-member Board. The authoritative incorporation was astir noon. On the aforesaid day, astatine 15:20, the dissolution and liquidation were posted successful GEMI, pursuing the General Assembly of the sole shareholder. Why it was decided to adjacent earlier adjacent opening is simply a mystery—and surely sets a grounds for the shortest-lived company. Perhaps the founder… changed his mind?

Messages from the Jefferies Report (and GEK TERNA)

The Jefferies study titled “Greed & Fear” contains respective absorbing observations. Analyst Christopher Wood argues that markets are precise adjacent to the extremity of the AI frenzy. He warns of an imminent correction successful the AI mania, recommends shifting investments to existent economies (Greece, China), and maintaining positions successful golden arsenic extortion against dollar depreciation. An absorbing constituent successful the study is the proposal to put successful infrastructure arsenic a hedge against ostentation spikes, which is wherefore Jefferies has, for the archetypal time, added GEK TERNA (as a operation person successful infrastructure) to its planetary portfolio.

The “Air” Returns: The Silent Revolution successful Commercial Leases

Greece is the European marketplace with the highest depletion taxes (VAT, excise, luxury taxes), yet consumption—helped by tourism flows that triple the fig of imaginable consumers—seems invincible and indifferent to crises. Another impervious is the instrumentality of the “air” successful commercialized leases. The signifier of paying a important sum to a erstwhile tenant to vacate a desirable spot is becoming communal again connected commercialized streets successful Athens and Thessaloniki. In cardinal locations, the amounts of “air” transcend €50,000–100,000, portion successful premium locations they tin scope €200,000. Property owners, brokers, and businesses signifier a transaction triangle operating extracurricular authoritative recording. Now that a ample portion of these transactions is being formalized and card/electronic payments dominate, 1 wonders whether this “investment” successful the “air” volition wage off. At the aforesaid time, “air” successful leases creates introduction barriers for caller entrepreneurs without capital, portion SMEs are pushed retired of premium locations, and metropolis centers are homogenized by chains and franchises.

The Profitable Path from ENA to the Main Market of the ASE

ONYX made its debut contiguous connected the Main Market of the Athens Stock Exchange. Its travel began successful July 2023 erstwhile MED, the underwear institution of Leonidas Zisiadis, started trading connected the Alternative Market with a valuation of €10.2 million. Today, it is worthy €172.3 million, with a spectacular displacement from apparel to tourism. Similarly, Real Consulting started its banal marketplace vocation connected the Alternative Market successful August 2021 astatine €1.02/share with a marketplace capitalization of €22 million, and moved to the Main Market this September astatine €5.14/share and a capitalization of €112 million. Simple mathematics shows that an capitalist who bought €10,000 of Real Consulting shares astatine IPO present has astir €47,000 (before taxes and dividends).

The Biggest Crash successful Cryptocurrency History

Last play could beryllium considered historical and mightiness people the commencement of a caller signifier for the cryptocurrency market. In a fewer hours, 1.6 cardinal crypto investors mislaid ground, portion $19 cardinal successful leveraged positions evaporated. It each started Friday greeting (U.S. time) astatine 09:50. The tense driblet unfolded an hr earlier President Trump’s tweet astatine 10:57 informing China astir caller tariffs. Hours later, astatine 16:30, a precise ample portfolio opened monolithic abbreviated positions, anticipating a further crypto decline. Just 20 minutes later, Trump announced +100% tariffs connected China. By 17:20—just 30 minutes aft the announcement—liquidations of leveraged positions reached $19.5 billion. The ample portfolio past closed its abbreviated positions, netting $192 million. Bitcoin’s marketplace capitalization fluctuated by $380 billion, much than the combined worth of the 25 largest concern conglomerates successful the world. Analysts online described this arsenic a method correction without semipermanent effects. High leverage, excessive optimism, and precocious Friday trading portion Wall Street was closed were cited arsenic imaginable causes of the “perfect storm.” However, questions stay astir who knew of Trump’s announcement and however specified monolithic abbreviated positions were opened soon earlier the tempest hit.

After the Tariffs: No Cheap Stocks

Many judge that the “big game” connected Wall Street past Friday was deliberately aimed astatine steering retail investors distant from tech frenzy toward much accepted sectors similar finance. Goldman Sachs, JP Morgan Chase, and Wells Fargo volition study net tomorrow, followed by Bank of America and Morgan Stanley connected Wednesday. On Friday, the Nasdaq fell -3.6%, its worst time since April 10, coinciding with the implementation of Trump’s caller planetary tariffs. Friday’s sell-off erased a month’s gains. The S&P 500 fell -2.7%, and the Dow Jones mislaid 879 points (-1.9%). Suddenly, strategical analysts punctual clients of October’s historically volatile banal performance. In Athens, the clime is different. The General Index has gained +43.58% year-to-date, FTSE 25 +49.56%, and Banks basal retired with +91.62%. Even mid-to-small caps amusement gains of +23.11%. In elemental terms, the Athens Stock Exchange contiguous has nary inexpensive stocks; determination are companies with prospects and coagulated fundamentals claiming their stock of the upgrade of the Greek marketplace to developed marketplace presumption and the expected upgrade of Greece’s recognition standing by S&P, Scope, and Fitch wrong the adjacent 45 days. All this is supported by accrued trading activity—over €200 million—and a dependable travel of communal money stock purchases susceptible of absorbing the liquidations of short-term, fearful investors.