– Greetings, since the cabinet reshuffle was postponed before the rumors even began, because, as I understand it, K.M. does not believe that the government’s functioning is problematic, and instead wants calmness and balance maintained within his parliamentary group, let’s move on. To be honest, I’ve heard about three ministers who, for different reasons, will each head to the sidelines when the time comes. However, generally speaking, the truth is that when you carry out a reshuffle, especially a major one, the mechanism gets disrupted and takes time to get back in order. It takes at least six months for a minister to learn the ins and outs of their portfolio. Now, regarding this perspective, it’s hard to fault him, since politics and politicians move according to numbers (polls) and their image, and the government is gaining points while the opposition is losing.

The candidacy of Stylianides

– Of the three ministers I mentioned earlier, one is dealing with a personal issue beyond their control, another hasn’t performed well despite the opportunity they were given, but today I’ll say a bit more about the third. I’m referring to Christos Stylianides, who aims to run for the presidency of Cyprus in 2028. Once Stylianides finalizes a major European funding program for shipping, which will also cover the costs of new fuel types, he will head to Cyprus. He wants to prepare his campaign, though DISY’s support is not yet guaranteed.

The discussion with Merz

– With flattering words about the trajectory of the Greek economy, Friedrich Merz, the (likely) next chancellor, spoke at the EPP retreat in Berlin, where he met with Kyriakos Mitsotakis in a very positive atmosphere. The two men know each other and communicate quickly, and I hear that Merz praised Greece’s digital transition. On the Greek side at the meeting were Tasos Chatzivassileiou, Aristotelia Peloni, and Milton Nikolaidis, while Merz was accompanied by two of his associates who will hold significant roles in the Chancellery, Christian Kremer and Jakob Schrot.

The Illuminati complain…

– In recent years, the term Illuminati refers to K.M.’s admirers—“enlightened” centrists or center-leftists, well-known or ordinary citizens who supported the prime minister, whether affiliated with a party or not, including former politicians, scientists, journalists, etc. These individuals, whom Mitsotakis clearly values but only to a point, often criticize certain events or decisions he makes, or the people he chooses for governance. For instance, there was substantial criticism regarding the wiretapping scandal in the past. Now, I hear they dislike Tasoulas, claiming he’s too partisan (while Venizelos was supposedly above party politics, or Papoulias in the past). The latest gripe concerns Kaklamanis; they don’t think he’s suitable as President of Parliament because he’s too right-wing and old-school. Interesting views, but as we all know, opinions are like… something else everyone has.

PASOK

– It’s worth saying a few words about PASOK because it truly baffles me how such experienced politicians can trip over their own shoelaces for no reason. Honestly, two years before the elections, journalists ask you who you’ll form a government with if necessary, and you respond with the circus of the Left? How hard is it to say you’re not siding with anyone, especially when elections are in 2027? I think part of the café-like image PASOK presents stems from the fact that none of the three main players in the internal elections want to see each other—Androulakis can’t stand Geroulanos or Diamantopoulou—resulting in an inability to agree even on the basics. And with their choice for President of the Republic, PASOK delayed again, announcing Yannitsis last, though there might have been an excuse in that case if Mitsotakis had chosen Venizelos and they voted together.

GAP and Simitis’ funeral

– Now that I’m writing about PASOK, a gossiping friend told me the real reason GAP didn’t attend Simitis’ funeral was that he was in China at some conference, where he had arranged a paid speech. It’s quite common for former prime ministers and other notable figures to give paid talks, of course. I can’t swear to it, but, dear me, these PASOK folks are quite a hassle.

Greeks at Trump’s inauguration

– Today is the big day for the new president, Donald Trump, and from what I know, there’s a special “friends and family” category of guests, including a Greek, Theodoros Kyriakou. I also know that another Greek businessman, Giannis Papalekas, has excellent ties with the Trump family, though I don’t have details on him. As for Kyriakou, I know he’s also invited to another very exclusive dinner hosted by POTUS next Saturday at the Capitol, called the Alfalfa Class, attended by about 200 distinguished guests. If I’ve overlooked any other serious Greek guests, do let me know! As for those wandering around and watching from a monitor far away, that’s another story.

The deal of Ideal for Barba Stathis is locked – Other companies also change hands

– With the formal announcement of the completion of two deals, the week begins. On one hand, there is the acquisition of Barba Stathis by Ideal Holdings after three months of intensive negotiations, and on the other, the acquisition agreement of Semeli Winery by Premia Properties (vineyards, winery, guesthouse) and “Hellenic Wineries” (the company) owned by Greek-Swedish entrepreneurs Elias and Thomas Georgiadis. Regarding the acquisition of Barba Stathis by Ideal Holdings, reports suggest that the signatures are scheduled for today, though when lawyers are drafting documents, timelines are always precarious. The total value of the agreement is locked at approximately 130 million euros, including coverage of loans exceeding 30 million euros. The agreement concerns only Barba Stathis and its “related” subsidiaries, such as Chalvatzis. This means the “goldmine” segment of frozen dough (Hellenic Zymi, Chrysis Zymi), which has significant activity abroad, is excluded. Reliable information also indicates that for the dough segment, Vivartia and CVC are already in discussions with third-party interested investors to proceed with its sale. These reportedly include foreign investors active in the broader food and dough sector. Hence, within three months, there might be updates on this front as well.

The Georgiadis brothers now aim for Tsantalis

– The second deal had already been in advanced negotiations since last December, and as of last Friday, the buyers had received the “keys.” The deal is said to be worth over 10 million euros and serves two purposes: the plan to eventually list “Hellenic Wineries,” which also owns Boutaris, Ioli, and a strategic partnership with TEMES for the vineyards at Costa Navarino, on the stock market, and the decision of Michalis Sallas to withdraw after dedicating significant personal time, effort, and achieving excellent results in this demanding investment. The next target for the Georgiadis brothers, whose ventures also involve the Antetokounmpo family with a 10% stake in Hellenic Wineries, is Tsantalis. The latter is undergoing liquidation, and within the next three to four months, a decision from the Multi-Member Court of First Instance of Thessaloniki is expected, where the company’s bankruptcy application was discussed last week. Although the proposal submitted last spring by Hellenic Wineries for Tsantalis was rejected by the creditor banks, the Georgiadis brothers are determined to negotiate with the appointed liquidator.

“SPITI MOU II” awakens the market and competition

– The “SPITI MOU II” program has indeed awakened the market, as its platform opened just last Wednesday, and according to the Prime Minister’s customary Sunday post, 42,359 applications had already been submitted. This is more than double the number of applications, as the program is aimed at 20,000 beneficiaries with resources of 2 billion euros. Of course, these applications concern the evaluation of prospective loan applicants and must be converted into loan requests. The critical issue now is to find properties that meet the program’s criteria so the applications can be turned into subsidized housing loans. The selection method follows the familiar FIFO approach, meaning First In First Out or First In First Served, or in Greek, whoever acts first gets served first. At the same time, another benefit of “SPITI MOU II” is that it has become a field of competition in the banking sector. Already, Attica Bank, under the leadership of El. Vrettou, which had stated it would enter the market competitively, announced that it offers the most favorable interest rate on loans under “SPITI MOU II” and is also the only bank participating in the program without charging any legal or technical review fees.

The courthouse in Thessaloniki, the Thessaloniki Port Authority, and Savvidis’s Dimera

– While the shareholder thriller at the Thessaloniki Port Authority remains open and the market awaits the next moves of the Dreyfus family, another case related to the port is unfolding. It concerns the city’s courthouse and the relocation of court services so that its renovation can begin, for which a budget exceeding 50 million euros has been approved. A public call for expressions of interest has already been issued for proposals to house court services in the Thessaloniki region, seeking spaces close to the existing courthouse with a minimum total usable area of 8,000 square meters. The solution of leasing a building on Moskov Street suddenly fell through, so what lies near the defined perimeter? The port facilities. Decisions from Thessaloniki Port Authority S.A. posted on the General Commercial Registry indicate an agreement signed with the affiliated company Dimera Land & Property Investments, based in Cyprus. The purpose of the agreement is the joint participation and submission of a proposal in the call, and, if the contracting parties are selected as contractors, the signing of a sublease contract with the Greek State for the use of spaces within the Port of Thessaloniki. The Thessaloniki Port Authority has scattered spaces within the port (part of Warehouse 14, Warehouse 15, other buildings such as the old telephone center, etc.), while DLP has part of the PAEGA building that can be offered. According to the call, the contract will be for 12 years. The agreement specifies that the Thessaloniki Port Authority will receive an annual sum of 275,000 euros from the fee agreed upon in the contract, which will increase every two years. According to an evaluation report by Grant Thornton, the Thessaloniki Port Authority will have cash flows of 3.3 million euros over the contract’s duration, while the agreement’s net present value is estimated at 2.01 million euros.

The AKTOR real estate deal submitted to the Competition Commission

– Speaking of real estate, the completion of the agreement between the AKTOR group and Prodea Investments REIC for the acquisition by the former of the latter’s major real estate portfolio is approaching. As part of the relevant procedures, the concentration was notified to the Competition Commission on January 14, ahead of the deal’s estimated completion in the second quarter of 2025. Through this deal, AKTOR group will acquire full control of MILORA S.A. and, ultimately, the real estate portfolio owned by Prodea, with a total value of approximately 600 million euros. These properties are estimated to generate an annual rental income of around 41.5 million euros. MILORA S.A. operates in the real estate investment sector, specifically in acquiring, developing, managing, and exploiting real estate assets.

PPC’s “electronic payments” running at high speed

– You likely don’t know the company BCMS. On the other hand, everyone knows PPC. However, BCMS has hired technical consultants, computer engineers, and other staff to jointly complete the final tests so the new electronic payment company, a PPC subsidiary, can begin operations immediately. PPC e-Money Services was established on September 28, 2024, with share capital of 42 million euros and headquartered in Marousi. BCMS will operate as an electronic money institution, providing payment and financial intermediation services aiming to capitalize on PPC’s vast customer base, which includes 5.5 million households in Greece and another 3.1 million in Romania, combined with the broad clientele of “Kotsovolos,” whose acquisition was formally completed. PPC now aims to claim market shares as a technology provider, leveraging the new realities of the digital age. This vision is shared by PPC’s major minority shareholders abroad, who are systematically purchasing shares on the stock exchange to increase their holdings.

A good year in 2024 for 3K Investment

– As independent asset management companies have recently seen high demand from banks, it’s worth mentioning the significant improvement achieved in 2024 by 3K Investment, owned by Kanellopoulos, Koufopoulos, and Kampanis, who acquired ING AEDAK. The company, which celebrated its 10th anniversary, reported pre-tax profits of 2.66 million euros in 2024, compared to 868,000 euros in 2023. Total equity in 2024 rose to 9.87 million euros from 7.77 million euros, gross profits doubled, and net income from operating activities reached 2.72 million euros compared to 575,000 euros.

The presentation of ekatanalotis

– The Ministry of Development is activating a new tool in the fight against rising prices. After fines and inspections on food prices in supermarkets, as well as the amendment to limit increases in insurance premiums, the goal is now to enhance transparency and consumer information tools like ekatalalotis.gov.gr. Initially, the website will include price history data spanning two years. Simultaneously, an AI service is being developed where an “AI assistant” will advise consumers on personalized purchases according to their shopping profile. Finally, a price comparison page with retail chains in other European countries will be added, particularly in product categories where multinational companies adopt different pricing policies. All these initiatives will be accompanied by an informational TV campaign.

In consultation, the draft bill for the Capital Market, the my data app in effect

– By Thursday at the latest, the Ministry of Finance is expected to put into public consultation the new draft bill for the modernization of the Capital Market. There are no “surprises” in the text, as the financial team wants the public dialogue to conclude first, official proposals from stakeholders to be submitted, and then to propose changes. The new bill for the Capital Market encourages the entry of new, smaller companies into the Greek Stock Exchange, while enhancing their appeal to investors. It provides tax incentives for businesses entering the stock market and reduces the administrative burden on listed companies. On another level, on Wednesday, the AADE will launch the new My Data App, which essentially allows small and medium-sized entrepreneurs (and their accountants) to have their Revenue-Expenditure Book on their mobile phone and monitor their business at any time.

The Stock Exchange with an eye on Washington

– The good news is that, as of today, the Athens Stock Exchange is offering very good returns, mainly because it does not have the pressure of capital raising that it faced last year (with sales of banking shares, airports, energy, etc.). Already, before the first month of 2025 is completed, in just 10 sessions, the Banking Index offers gains of +10.1%, the General Index gains +3.74%, the FTSE25 +4.19%, the banking index 10.10%, while in Information Technology, the “small” ILYDA gains +31% and shifts to a new level, while the public offer in Thessaloniki Port Authority (OLTH) reminded of other hidden values in the market besides banks. Today’s session at the Athens Stock Exchange will not have orders from the other side of the Atlantic, as Americans are celebrating Martin Luther King Jr.’s birthday and everyone is focused on Trump’s second inauguration, even without TikTok. On Friday, the S&P 500 index rose +1% to close the week with gains of +2.9%. It was the best week for the large-capitalization index since the week of the U.S. elections in November. The Dow Jones Industrial Average gained 335 points in a single session, bringing the week’s gain to +3.7%.

The cryptocurrency made in “$Trump” and the bitcoin shock

– Last Friday was a beautiful, cold day kicking off a festive long weekend in the U.S. That day—just before his second inauguration as President of the United States—Donald Trump chose to present and launch his own cryptocurrency, “$Trump,” leaving holders of other, more traditional cryptocurrencies like bitcoin or Ethereum dumbfounded. The new cryptocurrency was born from CIC Digital LLC, a subsidiary of the Trump Organization. It is a “meme coin,” meaning a cryptocurrency that cannot—yet, at least—be used in daily transactions. Meme coins can gain significant value if millions of investors acquire and believe in them. A characteristic example is Dogecoin, a cryptocurrency born as a joke, but promoted by Elon Musk to become a global phenomenon. Today, its capitalization exceeds $55 billion. When “$Trump” started, many believed it was fake news, that the President’s account had been hacked. Within 12 hours, the value of “$Trump” had risen by 9,500%. By Sunday morning, the return exceeded 15,000%. Within 36 hours, “$Trump” was worth $72, a 28,000% increase from its initial price. There is no fundamental data for someone to evaluate this “investment.” It is known that only 20% of the maximum possible supply of “$Trump” is currently on the market. The supply today stands at 200 million coins. Over the next 36 months, the remaining 800 million coins may be offered. It is believed that Trump owns these 800 million “$Trump” coins. Adding fuel to the fire were the two major cryptocurrency exchanges (trading platforms) Coinbase and Binance, which announced that “$Trump” is now included in their list of tradable assets. All this happened over the holiday weekend, as both “regular stock markets” and banks are closed today.