Hello, all eyes are on Parliament today, on the process of the Preliminary Investigative Committee for Tempi, and primarily, of course, on the Prime Minister’s speech. What will K.M. announce overall regarding the Tempi case? Until last night, and possibly even this morning, as my source informs me, various considerations are being made, including the possibility of raising the issue of partially lifting the permanency of public officials in the upcoming constitutional revision (second half of 2025). I do not believe that Mitsotakis will propose to the parties the abolition of the permanency of public servants, if that is what you would ask. But I think he was considering saying something about the evaluation of public servants at least until yesterday, because, let’s be honest, this untouchable status must end at some point. Now, whether he will back down and not say it today, let’s wait and see. In any case, the Prime Minister will surely announce a package of measures for OSE based on the Committee’s report, which revealed that the responsible ministers and state officials…were “flying kites” from 2019 until today.

Kamikaze – Kyranakis?

Now I hear that the “kamikaze” minister we were talking about yesterday to take over OSE may have been found, and it is Kyranakis, the current Deputy Minister of Digital Policy, aged 37. My source says he will become Deputy Minister of Infrastructure and Transport, responsible for trains and transportation in general. He is a young politician, let him test himself against the “beast,” although by now the Tempi issue has long been out of ministers’ hands and is purely in Mitsotakis’ domain. Now, if Kyranakis actually takes the position—because the matter is not settled since Tempi has generally turned into quicksand for the government—the question is, who will become minister? Because keeping Staikouras, even without the Transport portfolio, would be like saving and rewarding him, which I think would create a very negative impression; that is why I believe K.M. will not do it. At the same time, however, the Prime Minister does not want to split the ministry in two because he believes that would waste time on bureaucratic issues. Anyway, to close the matter, the Minister of Infrastructure is an extremely sensitive position because this person distributes billions of public funds and must be somewhat like Caesar’s wife—not only be honest but also appear honest. Therefore, by definition, those with close ties to the beloved and favored construction sector are excluded, as it is not such a large sector and could fit into a single room…

Theodorikakos and Papathanasis

One option that has been mentioned for the ministerial position is Takis Theodorikakos, either for Infrastructure and Transport as the ministry stands today or merged with Development, where Theodorikakos is currently serving. Also, another piece of information that reached me is that Papathanasis’ name is being considered for a coordinating role at M.M. I repeat that final decisions have not been made, as the reshuffle, barring unforeseen events, is expected to take place after the 13th of the month, when the new President of the Republic will be sworn in.

The motion of censure and Famellos’ whims

Now, let’s move to the opposition, where yesterday, for hours, there was an intense negotiation between PASOK and SYRIZA to convince Famellos that the motion of non-confidence should be submitted as soon as parliamentary proceedings begin today and not when it is Androulakis’ turn to speak in the agenda-setting debate. You see, this is a discussion initiated by SYRIZA and the KKE, so Famellos, who speaks first, wants to use the 30 minutes allotted to him. At the same time, I hear that SYRIZA members were particularly eager to ensure that the motion text did not make extensive reference to the responsibilities concerning contract 717, as Christos Spirtzis is also implicated—who, during Famellos’ tenure, was politically revived and now participates in the party’s organs.

Who takes over the control of unauthorized buildings – Intrasoft Net Company – OTE – Bright

The consortium of Intrasoft Net Company, OTE, and Bright Business Solutions (which acquired Diadikasia) is, as I am informed, the frontrunner for undertaking the major project of monitoring and controlling unauthorized construction, which is conducted by the Technical Chamber of Greece on behalf of the Ministry of Environment. The contract, with a total value of 67 million euros (with an option exceeding 100 million), aims to become the main tool in combating unauthorized construction, which is becoming a major scourge for the state, especially on islands experiencing intense tourism and residential pressures. The project involves the use of drones and the application of AI techniques to periodically capture the built environment for identifying urban planning violations. The procedures are expected to move very quickly, as the contractor is expected to be finalized within the month. This consortium was also the only one to submit a bid for the TEE tender, which is funded by the Recovery Fund. Already, the Chamber has approved the competition’s minutes, and the process of approving the necessary legal documents is underway. At the same time, the second smaller tender for the procurement of orthophoto maps worth approximately 7 million euros, also conducted by TEE, is progressing to enable comparisons of maps from 2011 to the present.

Money rain in Astakos (part II – 15 years later)

Fifteen whole years have passed since the days of GAP when Astakos in Aetolia-Acarnania was supposedly set to become an energy hub with the construction of a power generation unit and an LPG station. That particular project, as well as some others considered later, failed, but now a new investment exceeding 520 million euros appears to be at the starting line, as it has been approved by the Interministerial Committee for Strategic Investments. This is the Nautilus Project, an investment for converting the container port of the Platygiialio Industrial Zone into a 350-berth marina for mega yachts, which will also include a five-star hotel, luxury vacation residences, commercial uses, a conference center, and more. Behind the investment is the Cyprus-based MYMAR Nautilus Investments (Mega Yacht Marina and Resort), and the project involves the well-known construction company Archirodon, BWA Yachting of the Vasileiou family, and A1 Yacht Trade, while previous information also mentioned the involvement of Mubadala Investment from the UAE. The next and very crucial step for the project to proceed is to reach an agreement with Alpha Bank and Piraeus Bank, which own the lands in Astakos. Specifically, the company “APE INVESTMENT PROPERTY S.A.,” a consortium of the two banks, controls “Astakos Terminal,” which—apart from the port—acquired from ETAD two years ago a 108-hectare plot adjacent to the 1,800-hectare Nautical Industrial Zone (NAVIPE).

Looking for buildings in Athens

The real estate boom continues in March with a flurry of tenders as everyone is looking for buildings in Athens, including the government. This is confirmed by three major tenders—two for leasing and one for purchasing—scheduled for the last ten days of the month. By March 21, interested parties are invited to submit their bids for the competition conducted by DEDDIE S.A. for leasing a property under strict conditions: The property offered must be located along Piraeus Street, from the level of Iera Odos to the level of Chamosterna Street, within a 350m-wide area on either side of Piraeus Street. It must also have a total gross above-ground area of approximately 15,000 square meters, around 300 parking spaces, and be licensed for the required use (offices). The building will accommodate the needs of the Attica Regional Directorate, the Islands Regional Directorate, and the Directorates of the General Directorate of Commercial Network Operations of DEDDIE S.A. for a duration of 5 years.

The Piraeus University and the EKKE

The property sought at the port by the University of Piraeus is smaller, also intended for office use, with a lease duration of 12 years. The date for bid submissions in the tender for leasing a property up to 1,000 sq.m. for administrative, teaching, and educational staff offices is set for March 20. The building must be no more than 600 meters from the university’s main building at 80 Karaoli & Dimitriou Street. The third major tender involves a purchase for up to 6.23 million euros. On March 27, bids will be submitted for the purchase of building facilities for the National Centre for Social Research (EKKE). The “Strategic Significance Contracts Unit of the Hellenic Corporation of Assets and Participations S.A.” (HCAP S.A.) is responsible for running the project for a property in planned areas of the municipalities of Athens, Kallithea, Moschato-Tavros, Dafni-Ymittos, Vyronas, Kaisariani, Zografou, Papagou-Cholargos, Galatsi, Filothei-Psychiko, and Nea Ionia. The demand is for a standalone and independent building with a total gross main area of approximately 2,100 to 3,250 sq.m. and auxiliary spaces of 300 to 1,150 sq.m.

New practices in SEV

The administration of Spyros Theodoropoulos at SEV, besides making proposals and offering criticism to the government, has also changed the way the association operates. The SEV president is at the offices without fail every Tuesday and Thursday to directly handle issues and assign tasks. The responsibilities of Giorgos Xirogiannis, who has held the position of SEV’s General Director since October 2022, have been significantly reduced, whereas the role of Ms. Rania Aikaterinari, in her capacity as President of the Executive Committee and Vice President of the Board of Directors, is continuously expanding. Employees at SEV have received salary upgrades, but at the same time, expectations and workload have also increased.

What industrialists demand from the new development law

Speaking of SEV, it should be noted that industrialists are pushing for the removal of the requirement to create new jobs as a condition for including investment plans in the development law. They are lobbying for this to be incorporated into the upcoming changes announced by the leadership of the Ministry of Development. Their main argument is that the competitiveness of production units must be supported to secure a place in the international market. This, they argue, can be achieved through technology and improving industrial efficiency rather than by increasing jobs. This position has been made clear and public in recent days by SEV President Spyros Theodoropoulos and the former President of Northern Greece Industries and President of Alumil, Giorgos Mylonas. Both have also pointed out that the industry is already struggling to find personnel and will inevitably have to look abroad for workers.

How many customers does Elon Musk have in Greece?

It went largely unnoticed that during the OTE CEO’s presentation to analysts, Mr. Nebis was asked how many subscribers use the satellite internet service offered by Elon Musk’s Starlink. The OTE CEO estimated—emphasizing the lack of official statistics—that about 30,000 subscribers use the satellite internet service in Greece. This is due to the country’s geographical diversity, with its mountainous and island characteristics, which make adequate high-speed fiber optic coverage difficult in some areas by traditional telecommunications providers. At the same time, we have also learned that the European Union is planning a new satellite communications system to compete with Starlink through the IRIS² program, which includes the deployment of 290 satellites.

Stock Market: Nervousness, Turmoil, and Lack of Direction

The good news in the market lies in the transaction value: Turnover of €303 million, €224 million in banks, and only €35.9 million in block trades. A second piece of good news is the reaction of the General Index, which held the 1,600-point mark, though not without troubling and frightening the market’s optimists. In the morning, the market started with enthusiasm, and the General Index reached 1,619.08 points (+0.7%). After the first hour of trading, following multiple block transactions, the General Index plunged to 1,592.19 points (-0.97%), spreading panic as everyone believed they had fallen into an optimism trap (bull trap) and rushed to limit their losses. By 5 p.m., the General Index had lost the 1,600-point mark, standing at 1,599.36 (-0.52%), but with the help of the auction process, it closed at 1,602.15 points (-0.35%). The takeaway is that from now on, every buying move requires careful consideration, as these fluctuations indicate nervousness, turmoil, and a lack of direction. Alpha Bank’s stock touched €2 (€1.9970) and closed with a +1.72% increase at €1.981 with a turnover of €50 million. National Bank maintained its €9 price (€9.018) with +1.05% and a trading value of €86.7 million. Piraeus and Eurobank declined, but fortunately, Coca Cola held its ground (+0.78%), as did Athens International Airport (+1.95%) at €8.91 and the surprise of the day, EYDAP (+1.38%). Coca Cola once again provided significant support to the market (396,000 shares) with +0.78% at €41.28. Despite the General Index’s positive turnaround, the session left a bitter taste, as declining stocks outnumbered rising ones by more than double—83 versus 39.

Wall Street: Losses of $330 Billion in Every Session Since February 19

The cryptocurrency market—which had always exuded an air of absolute dominance from December 18 until yesterday—lost $1 trillion in capitalization despite President Trump’s announcements about creating a “strategic crypto reserve.” According to technical analysis, the Nasdaq Index is entering levels of a major correction, similar to last August’s, which was triggered by carry trade with the Japanese yen. Technology stocks are retreating, oil has plunged to four-month lows amid fears of a widespread recession, and bond yields are falling. Gold and bonds are gaining as desperate investors seek “safety.” The S&P 500 Index has erased all the gains made after Trump’s election. The numbers are relentless: $3.3 trillion in losses since February 19. In other words, losses of $330 billion for every Wall Street session. The tariff war has claimed its first victims.