-Greetings, K.M. returned from the States and dove straight into meetings yesterday at the Maximos Mansion on a number of issues. One particularly interesting meeting I heard about took place yesterday afternoon, before he went to Hygeia Hospital, and included Vice President Hatzidakis (who had just come back from Brussels, more on that below), Minister Papastavrou, and Deputy Minister of Urban Planning Tagaras. The topic was the legislative regulation the government is preparing to bring in the coming days regarding construction in Zone C, which includes 10,000 small settlements across the country. This follows the Council of State’s ruling and the presidential decree that “set the place on fire” and “stressed out” ND MPs. The ministers received guidelines for a horizontal regulation that takes demographic characteristics into account—meaning, in a time of rural depopulation, it makes no sense to devalue people’s property. So, decentralization must be encouraged. The regulation, which must be ready by next week, will be horizontal in nature, but its application won’t be the same everywhere. Papastavrou and Tagaras now also need to do a constitutional balancing act.

Name day with a sprint
-Among those celebrating yesterday was Vice President Hatzidakis, who started his day at 7:30 a.m. in Brussels with a working breakfast of the EPP, during which the responsibilities of the party’s vice presidents were distributed. After receiving key responsibilities—and while his phone rang nonstop with well-wishers—he boarded a flight at noon, landed in Athens, went straight to Maximos, and then to the Bodossakis Mansion (Vice Presidency), where his staff was waiting with a symbolic gift. Meanwhile, the phones were ringing in stereo.

Pierr-Floridis
-Another interesting meeting took place yesterday at the Ministry of National Economy between Ministers Pierrakakis and Floridis and all heads of the judiciary (Supreme Court, Council of State, Legal Council of the State, Court of Audit, etc.). The agenda: easing the courts’ caseload from the roughly 1,000 cases the Greek state files annually. The discussion ranged from major issues—such as stopping the state from suing citizens over natural disasters like Mandra or Mati or over accidents like Tempi—to smaller but equally painful matters, both for the public and for judges wasting time on cases with no substantial cause.

SEV–Collective Labor Agreements
-For the past few months, there’s been a lively debate within SEV (Hellenic Federation of Enterprises) about whether to gradually bring back sectoral labor agreements, even partially. The prudent, sensible, and socially aware industrialists hold this view: “The economy has been doing well in recent years, our businesses are profitable (especially the big ones listed on the stock exchange), so it wouldn’t kill us to go back to sectoral agreements and give our employees a bit more cash. After all, with today’s prices, people’s salaries are gone a week before the month ends.” These same SEV businessmen are talking about a two-year collective agreement with a 4% annual raise—which means about 2 extra euros on the basic daily wage. Come on now, folks… you think you’ll take it with you?

“Fever” for the Final Four
-Meanwhile, the hot topic in political and ministerial circles is: who’s going to Abu Dhabi for the EuroLeague Final Four? Prices have gone through the roof, and a source of mine with VIP seats told me that resale tickets are now going for over €50,000. Still, I hear ministers will show some restraint at first—though some are already planning a “commando raid” on Saturday night if their team makes it to Sunday’s final. Notably, Minister Voutsis is predicting a Greek final. If that happens, we’re looking at… “blood and sand.”

Dora–Tsipras–GAP & Co. in Chania
-Some may be heading to Abu Dhabi, but others are bound for Chania, where major arrivals are expected this Sunday. Seventy MPs, members of the Council of Europe, will be attending a session of the Parliamentary Committee of the Council of Europe, hosted in Crete by Dora Bakoyannis. Among those expected are Alexis Tsipras (instead of watching basketball), George Papandreou, Roussopoulos (who’s President of the Parliamentary Assembly), participating Greek MPs, and many foreigners—including former ministers. The official kickoff will be Monday in Kolymvari by Gerapetritis and Nikitas Kaklamanis. Meanwhile, Dora has arranged Cretan-style feasts with live music, both in Kolymvari and Kalyviani.

Alpha Bank: Rebranding and… Surprises
-The Alpha Bank building on Stadiou Street will be renovated to become a new landmark for Athens, according to CEO Vassilis Psaltis during the bank’s general assembly. But the bank’s image revamp doesn’t stop at headquarters—set to finish this year—it also includes branch upgrades and a full rebranding. The name won’t change, of course, but the refreshing aims to bridge Alpha’s historic legacy with its modern identity and strong customer service. The bank, which will return dividends to shareholders four times higher than in 2023, is preparing these changes for early 2026. Also note: Alpha Bank is planning some additional surprises—though these are the kind that aren’t announced ahead of time, but drop with signatures.

David vs. Goliath in Vouliagmeni
-A few days ago, the Hellenic Corporation of Assets and Participations (HCAP) received 7 bids for the long-term lease of the Vouliagmeni beach. Heavy hitters of the market either bid solo or in consortia—names like Konstantakopoulos, Prokopiou, Restis, CVC, ELLAKTOR, Melissanidis, Kokkalis, and others. Opposite these market giants stands the Vouliagmeni Winter Swimmers Association, which filed a petition with the Council of State’s Fourth Section to annul the invitation for bids issued by HCAP on February 17, 2025. The court date is set for September 23—so, summer swims for the people are safe. As for winter swims… we’ll see.

Certainly. Here’s the full English translation of your provided Greek text, paragraph by paragraph, using idiomatic expressions and terms that best convey the meaning, including humor where present, and preserving paragraph structure:

New Hotels (at Klafthmonos Square)
-Not a day goes by without new companies springing up, betting on real estate—especially in tourism. Just the day before yesterday, on May 20, we had several interesting “arrivals.” First up, the company Praxitelous Luxury Suites Collection—and true to its name, it aims to convert the listed neoclassical building at Praxitelous 16 and Paparrigopoulou 2 into a high-end tourist accommodation. It’s a standout property from 1920, located on the lower side of Klafthmonos Square, owned by the EFKA (Social Security Fund), which was put out to tender for long-term lease and conversion into a hotel. The property actually comprises two interconnected buildings, spanning four floors (excluding the mezzanine) and a basement, with a total built area of 1,152 sq.m., according to the ownership deeds. This venture has been undertaken by the newly established company formed by Charilaos Prokopidis, Georgios Spyrakos, Nikolaos Skoutelas, and Kimon Plakonouris. Another company that was “born” yesterday is VRML Single-Member S.A., based on Ploutarchou Street in Kolonaki, focusing on property trading and the creation of holiday accommodations. The initial share capital of €80,000 was put up by Beltezzia Limited, represented by Dionysios Voulgaris, while the consultant-manager is Iason Tsakonas, known from the real estate development company Oliaros—one of the first to bet on Antiparos with villas of unique aesthetic value.

Developments at the Port of Thessaloniki Have an American Flavor
-American investment interest in the ports of Thessaloniki and Alexandroupolis is well known. The interest is bundled—the two ports are part of a joint package in American planning. What must happen first, however, is for the current major shareholder of the Thessaloniki Port Authority (OLTH) to be persuaded to sell his stake. Since everything has its price—and that price was definitely not the offer made by the Dreyfus family—a strong, independent organization is needed to explore the market and gauge management’s intentions. According to reliable sources, that powerful independent broker could be a major American bank, which would offer Ivan Savvidis “a price he can’t refuse” while also securing a buyer willing to pay what the current shareholder expects. For now, the Port of Thessaloniki is valued at €332.6 million, with the stock trading at €33.

Amerra Digs in Its Heels on the Avramar Case
-There are updates on the Avramar situation, as a few days ago, a meeting was held between the banks and representatives of the American fund that holds shares in the company. The meeting reportedly did not go well, as Amerra Capital refuses to fulfill certain financial obligations. Amerra is essentially laying down conditions to facilitate a turnaround for the debt-laden Avramar—despite the fund bearing significant responsibility due to poor management. Meanwhile, the banks have rolled up their sleeves, found a new investor—Aquabridge from the United Arab Emirates—and are moving ahead to close the deal, with only a few details left to iron out.

Insurance Executives Land on Hydra
-An invasion of insurance executives has taken place on Hydra, where 450 professionals from around the world have gathered with Alexandros Sarrigeorgiou. The reason is the 25th International Insurance and Reinsurance Conference, organized by the Hellenic Association of Insurance Companies. The conference wraps up tomorrow, Friday, but what’s especially interesting is the chatter in the sidelines among Greek attendees, as the insurance sector is in the midst of significant upheaval.

Athens International Airport Management Hits Target with Scrip Dividend
-The reinvestment of Athens International Airport’s dividend will ultimately meet the €100 million target that management aimed to raise for its major investment plan—without turning to borrowing. It appears that both the state (via the Hellenic Corporation of Assets and Participations) and private investors responded to the call to reinvest part of the dividend (scrip dividend) from the 2024 financial year to fund the airport’s expansion. The total dividend for 2024 results amounts to €234 million, of which the AIA management intended to convert €100 million into a scrip dividend. What investors “lose” in cash payouts, they gain through the stock’s rise, now at €9.94—24% higher than six months ago.

The Arbitrage Play Between PPC and OPAP
-The stock market had long suspected that PPC’s Q1 results would fall short—at least temporarily—of the €2 billion EBITDA target promised by its management. Meanwhile, OPAP’s revenues were expected to grow spectacularly, and with two Greek teams in the basketball Final Four in Abu Dhabi, betting interest was naturally poised to surge. The arbitrage was obvious: buy OPAP, sell PPC. Within a week, OPAP stock gained +2.26%, while PPC lost -4.45%—with more than a million shares traded yesterday alone. This short-term play delivered easy profits for those with the… stomach and savvy to go for it.

6+1 High and Mid-Cap Stocks Hit New Peaks
-A total of six blue-chip and mid-cap stocks continued breaking their own records, pushing deeper into uncharted territory. Metlen hovered around the €44 mark for three days before breaking past it yesterday, with analysts now eyeing €50. Athens International Airport came within a hair’s breadth of €10 for the first time ever. Kri Kri hit €18, PPA surpassed €46, and Profile is aiming for €6. Joining the club of all-time highs is the Bank of Cyprus, which climbed to €6.7 as it prepares to enter the FTSE 25. There are also new multi-year records. National Bank topped €10.5, and Alpha Bank touched €2.7—both closing at their highest since November 2015. Piraeus Bank extended its four-year record, crossing €5.85 during the session—the highest since April 2021. OPAP is barreling toward €21 after 16 years, and Jumbo passed €29, once again eyeing its all-time high of €30. Sarantis returned to €14, the highest in 7 years. As a result, Athens Stock Exchange indices continued their climb. The General Index broke the 1,830-point barrier for the first time since May 2010, and the banks index did the same with 1,800 points, a level last seen in November 2015. The Large Cap index is heading for 4,600 points—levels not seen since August 2011—while the Mid Cap index hit a record not seen since January 2010. Yesterday, once again, the protagonist in both decline and rebound was the banking sector, with its index delivering a +40.4% return since the start of the year (a 9.5-year high) compared to +25% for the General Index and +28% for the FTSE 25. The General Index opened with a mild correction, dipped to 1,808.06 at one point, but ended at the session high of 1,835.79 points (+0.45%). This trampoline effect pushed transaction value to €217.18 million, with only €9.7 million in block trades.

A New Player in Greek Coastal Shipping
-The shipping company MAGIC SEA FERRIES, owned by shipowner Giorgos Yalozoglou, has cautiously entered the Greek coastal ferry market, serving the Saronic Gulf routes with two of the newest vessels in the Greek fleet. Giorgos Yalozoglou, along with his brother Marios, is active in ocean-going shipping, operating a fleet of 18 tankers—that’s where they make their money. However, they’ve also invested in two high-speed catamarans, “MAGIC 1” and “MAGIC 2”, which they deployed in the Saronic Gulf. Thanks to their modern build, these vessels boast low fuel consumption. So far, their daily round trips from Piraeus are said to be yielding positive results.

Different Times, Different Strategies
-Back when Greece was flirting with the bailout memoranda, smart investment strategy dictated putting money into corporate rather than sovereign bonds. And it turned out to be the right move—the Greek government bonds got “haircut,” but bonds like OTE’s kept paying out without a hitch. Today, with U.S. government bond yields flirting with the “danger zone” of 5%—a signal that markets smell trouble and credit rating agencies are downgrading U.S. debt—professional fund managers are scratching their heads. Until now, the textbook definition of a “risk-free” investment was the U.S. Treasury bond. Is it time to rethink that? Persistent inflation, geopolitical fragility, overvalued equities, and high borrowing costs may be signs of a new market reality on the horizon.

Americans Start to Feel the Weight of High Interest Rates
-Credit card debt that’s overdue by more than 90 days has exceeded 12.3% in the U.S.—the highest delinquency rate in 15 years, since 2011. The 10-year U.S. Treasury yield is over 4.50%. Mortgage rates have climbed back above 7%, auto loans exceed 10%, and credit card interest rates are above 20%. Unsurprisingly, those struggling to keep up with credit card payments are lower-income households. Analysis by zip codes shows a +63% increase in delinquencies in the bottom 10% of “poor neighborhoods” from Q2 2021 to Q1 2025. Even in wealthier areas, there’s been a +44% uptick.