-Hello, we begin our daily briefing with the seismic bulletin of Santorini and the other Cyclades, hoping that… God and the Earthquake God (Enceladus) will pity us and not bring us any major disturbances, which, in the best-case scenario, could ruin our tourist season, though of course, we prefer not to talk about the worst-case scenario. We always hope the greater neighborhood shakes a few more days, and then settles down for everyone’s peace, especially for the people on the islands.

Wednesday’s meeting

Anyway, the extension of the measures on the islands that are “dancing” due to the earthquakes until Friday doesn’t solve the problem, since a major earthquake hasn’t occurred. I’ve been told that on Wednesday afternoon, a large meeting will take place at Civil Protection, attended by Mitsotakis, with Kikilias, Tournas, the Chief of the Hellenic National Defence General Staff (HNDGS) Houpis, and the professors from the Earthquake Risk Assessment Committee, in order to analyze the data that is forming on the ground and to make decisions about the way forward. However, the mobilization of the mechanism is large, and seismologists remember how different the situation is compared to the corresponding seismic sequence in 2011, when they told G.A.P. to do something, but in the middle of the confusion of the Memoranda, he let them just count. What are you telling me now, G.A.P. still wouldn’t have realized, they were looking for him to tell him about the memorandum in Davos, and he went to the cinema to watch Avatar.

Seismologists at Maximos Mansion

These days, seismologists have become like the epidemiologists during the coronavirus. The channels are looking for new ones, because the old guard has retired. And of course, K.M. wants updates, since yesterday he was absent until late in Brussels for the informal European Summit on European Defense. That’s why today, the two “envoys” from Civil Protection, Professors Efthymios Lekkas and Kostas Papazachos, took the morning flight from Santorini to be at Maximos Mansion after their morning coffee, for the expected de-briefing.

Tempi, elections, alliances and friendships

Now, on to the other “seismic bulletin,” that of Tempi, there’s nothing shocking

Pavlos Marinakis has lightly criticized the opposition, especially PASOK, saying that “you never voted for the bodies we created to conduct independent checks on accidents and issue reports you now refer to.” Honestly, the opposition needs to address this issue at some point, they can’t keep saying “no to everything,” because frequently, they get caught out. Now, Mitsotakis keeps repeating to his interlocutors that he is not going to early elections over the wood glue of Tempi, he again says the classic “now I’m counting my friends” (yes, yes…), and more calmly now, he’s looking more carefully at the next steps to defuse this crisis, although the truth is that the earthquakes leave little room to focus on everything else for now. Tempi may come back to haunt him later this month with the two-year anniversary, reports, and protests.

Chardalias

Yesterday, regional governor Nikos Chardalias sent two audit reports for the Region of Attica and the EDSNA (waste management) for the period 2020-2023 to the Economic Prosecutor. A lot has been said about improper management or a mismanagement of hundreds of millions of euros with direct assignments, broken assignments, shady deals, and the sudden rise of companies from nowhere, which overnight became huge with rich shareholders, and it’s good if all of this is made public. If everything’s fine, no problem, let’s see it, but I believe there will be surprises and many questions will be answered, especially for the… stains that are cleaned with blue and green granules, as an old detergent ad used to say.

Trump Organization’s contacts with Lamda for the Hellinikon Project

According to reports, a team of executives from the Trump business group, together with representatives of a Saudi conglomerate involved in real estate development, came to Athens and met with executives from Lamda Development. This was the first contact between the Trump Organization and Dar Global with the Hellinikon project, and obviously, nothing is confirmed or concrete yet. In the Trump Organization, the manager and executive vice president is the son of the US president, Eric Trump, who runs the group with his brother Donald Jr.

Loans in Swiss francs

An advantageous arrangement for borrowers in Swiss francs was announced by Deputy Minister of Finance Christos Dimas with an intervention in the plenary of Parliament, stating “it is an important issue, and therefore we are committed that in the very near future, a solution initiative will come.” Banks, on the other hand, cite court decisions that have been issued from time to time, but the fact that the Ministry of Finance has consistently raised the issue recently shows that legislative initiatives will eventually be taken to regulate these specific loans. Raising the issue could also cause collateral damage, as it is said in the market that many loans in Swiss francs, which were restructured and recorded as serviced, are actually red loans because the borrowers are unable to repay them, and with the restructuring, they only pay very small amounts, mainly just interest.

OTE and Vodafone preparing for… “scraps”

The departure of Grigoris Christopoulos, Chief Commercial Officer Business Segment at OTE, after 25 years at the organization, was officially confirmed. He is replaced by Lykourgos Antonopoulos, who will report directly to CEO Kostas Nembis. This new departure is part of the moves being made by the group’s head to create new structures and, of course, a new management team. This follows the departures of St. Theocharopoulos (former Chief Officer of Technology and Operations) and G. Athanasopoulos (Chief Officer of Operations and IT Systems). New people have already been appointed as heads of Human Resources and Corporate Communications, and more changes are expected. Now, the market expects new commercial disputes between telecommunications providers over fiber optics. From April onwards, the head of Vodafone will officially change, with Achilleas Kanaris taking over, who has a commercial background and knows well how to “scrap” in business. Nova will, of course, enter the game as well, as despite being in the process of being sold, it doesn’t want to lose ground.

Wants Nova badly

Speaking of Nova, let’s go to the topic of the sale, which has been much discussed. However, the essence of the matter is as follows: One of the main shareholders of United Group, Dragan Solak, is aggressively pursuing Nova and is willing to pay more than the Arabs, who have also made an offer. The Serbian businessman, according to people close to the discussions, considers Nova to be a key part of his plan to become a player in telecommunications in the Balkans, with Greece being at the forefront, where he has already expanded his business presence. Reports suggest that the completion of the deal for Nova is simply a matter of time. In fact, the 60-year-old Solak’s plan also includes expansion into other sectors, such as energy. Recently, United Group announced an initial investment of 120 million euros for the production of green electricity in Bulgaria, a move that wouldn’t be a surprise if it expands into other Balkan countries and, if conditions allow, into Greece.

The Kopelouzos Group, Spyropoulos, and real estate -A new move in the real estate sector was detected by the column’s radar in recent days. Specifically, it comes from Konstantis Spyropoulos, the husband of Elmina Kopelouzos, who, despite his artistic roots, has now dedicated himself to business for many years. In addition to the Gastrade company (with the Alexandroupolis FSRU), where he was in charge from its early stages until December 2021, he now seems to be focusing his attention on real estate. Last week, a new company was established under the name “Thorikos Real Estate Single Member IKE,” based at the Kopelouzos Group headquarters on Kifisias Avenue. The purpose of the new company is “the purchase, lease, redevelopment, renovation, arrangement, modification, exploitation, leasing, subleasing, and resale of properties located in the Municipal Unit of Thorikos, in the Municipality of Saronikos, Attica, in the Regional Unit of Eastern Attica, in the Region of Attica.” The initial share capital is 40,000 euros, corresponding to 4,000 corporate shares, which were paid in cash by Konstantis Spyropoulos, who is the sole partner and manager. Wishing him good business…

The 5.5 Million Euro Maisonettes (12 out of 20 Already Sold)

Although the project may still have nearly two years to go—according to the planned schedule and timeline—before its delivery in early 2027, sales have already reached 60%. We’re talking about the 20 total homes, maisonettes, and luxury apartments, spread across three residential complexes by Orilina Properties S.A., with a total area of over 22,000 square meters, within the project site at Elliniko, following an agreement with the investment body, LAMDA Development. This is no small feat, especially considering that prices are more than… steep: For instance, the price of one of the maisonettes in the B section (the middle of the three complexes with sea views) surpassed 8 million euros. These maisonettes, which are among the priciest options in the complex (there are also the penthouses), range from 238 to 282 square meters, with outdoor spaces ranging from 228 square meters to 587 square meters, featuring either an exclusive rooftop or garden, and of course, a private pool. Last Friday, Orilina announced the sale of another house in the complex, the 12th in total, at a price of 5.47 million euros.

The Greek-American Chamber Follows in SEV’s Footsteps

The return of Trump is causing ripples even within the Greek-American Chamber of Commerce. The term of the current president, Nikolaos Bakatselos, is coming to an end. Elections for new leadership will be held in June. In previous years, this process was straightforward and consensual. There was always a candidate of common approval, and everything moved smoothly and calmly. However, things have changed this year. Entrepreneur Giannis Sarakakis from the automotive industry has already announced his intention to run for president. In a few days, Alexandros Kostopoulos, the current General Secretary of the Chamber, with 25 years of activity in both Athens and Washington, is expected to formalize his candidacy. It seems that the Greek-American Chamber will also witness phenomena akin to SEV, and in this day and age, with the new balance of power in Washington and with the new U.S. Ambassador to Greece yet to arrive in Athens, there is some unrest…

Port of Thessaloniki: Will You Offer a Better Price?

The proposal by LeonidsPort for the acquisition of 21% of the Port of Thessaloniki (OLTH) at 27 euros per share seems unlikely to succeed. Despite yesterday’s slaughter on the Athens Stock Exchange, OLTH’s stock rose to 27.6 euros, marking a 1.1% increase. However, resistance to LeonidsPort’s proposal, associated with the Dreyfus family, does not mean resistance to the potential sale of the majority of shares. However, there must be a truly competitive process, with serious and internationally recognized advisors who will take on the task of finding a buyer with growth potential and the proper conditions. It appears that LeonidsPort’s proposal will act as a catalyst for developments at the port, and each shareholder will reassess their position according to their stake…

Tsunami Hits the Stock Exchange

Tariffs, earthquakes, and sudden political tension hit hard on the General Index, which, with the start of yesterday’s session, lost the ground beneath its feet and ultimately lost 2.7% of its value, closing at 1,507.50 points, with a low of 1,505.48 points and significant trading volume of 185.2 million euros (only 8.1 million in block trades). This was clearly the worst session of 2025, and to find a worse one, we have to go back several months (to August 5, 2024, when the General Index plummeted by 6.27% following some events in America). The banks, loaded with profits from previous months, couldn’t withstand the frantic sell-offs (total transactions of 100 million euros), which is why the Banking Index “sank” by 4.02% to 1,357.68 points. Coca-Cola stood tall and rose to 34 euros (+1.8%), but on its own, it couldn’t stop the tsunami of sales. Only 12 stocks managed to hold a weak positive position, while 121 stocks saw losses. After 4:30 p.m., some timid “buy the dip” buyers appeared, but they couldn’t—or didn’t want to—change the mood. In both Europe and America, the atmosphere was similarly bleak, and only bonds showed some promise as a temporary refuge until the storm passed. The U.S. 10-year government bond held steady at 4.5%, Germany’s at 2.38%, and France’s at 3.10%. Greece’s 10-year government bond maintained its connection with the strong at 3.25%.

Which Stocks Benefit from the Euro-Dollar Parity

It’s just a matter of time. Trump’s tariffs are strengthening the dollar and pressuring the euro, which dropped to a 1.0141 exchange rate, marking its lowest level since November 2022. Analyses already suggest that the exchange rate could even drop to 0.95 dollars. As a result, European stocks are becoming cheaper for American investors, and in Greece, stocks such as TITAN, METLEN, and refineries are definitely winners. Naturally, Greek tourism becomes cheaper for Americans, but the question remains: In this current situation, are the Americans focusing on foreign markets, or are they more focused on the new domestic developments in the U.S…?

Europe Awaits the Tsunami After Trump’s Earthquake

European leaders met in Brussels, and now they are sure: after Canada, Mexico, and China, Europe is certainly next in line to face the tariff war. The first target is Germany, which is a major export economy with heavy industry. The second conclusion is that Trump respects the powerful. Therefore, Europe’s unity is essential. China, at first, will counter the +10% Trump tariffs with a devaluation of the yuan to offset the additional cost. On the other hand, Canada and Mexico are in trouble. Imports from Canada account for 14% of total U.S. imports, and imports from Mexico account for 15% of total U.S. imports. On the other hand, 80% of the exports from Canada and Mexico went to the U.S. market. Today, the U.S. imports about 80 billion dollars more than it exports each month. In 2023, U.S. imports from Canada and Mexico reached 910 billion dollars. The new tariffs act as a tax on goods entering the U.S. Simply put, 100 dollars of goods entering the U.S. from Canada or Mexico will now “cost” 125 dollars. The American consumers will foot the bill. 60% of the fresh food consumed in the U.S. comes from Mexico. The tariffs (+25%) will increase the cost for U.S. auto manufacturers (spare parts, components, etc.). Some of the 16 million cars sold annually in the U.S. will increase by up to 3,000 dollars. Inflation is not just addressed by lowering oil prices (if achieved) or firing public employees…

Why Cryptocurrencies Collapsed

As long as the U.S. economy was “running” with a growth rate of +3% and unemployment at rock-bottom levels, there were many “anti-establishment” types investing in cryptocurrencies. But once the Trump administration announced the new tariffs, within 24 hours, cryptocurrency values worth 2.3 billion dollars “evaporated.” Trade wars bring weaker economic growth, less available liquidity, a stronger U.S. dollar, and less stability. That’s why the brave cryptocurrency investors turned to gold and the dollar. In their physical form. The past five years of experience have taught us that cryptocurrency markets weaken when liquidity decreases. If we put aside Bitcoin for a moment, which is making a lot of money and, rightfully, being liquidated, it managed yesterday to curb its losses to 97,000 dollars. Ether crashed by -11%. Ripple, the 4th largest cryptocurrency by market capitalization, lost -40% of its value within 13 hours. It was a cryptocurrency worth more than 200 billion dollars. Not anymore…