—Hello there, the image of Parliament yesterday—you saw it, those who saw it, whether live or through clips on the media. Zoe with Velopoulos and Natsios with Kasselakis. Hodgepodge galore, one might say, but in any case, for 32 MPs to accuse the country’s prime minister of high treason over a train accident, you’ll agree, is hardly flattering for anyone. Perhaps tragicomic. Mitsotakis’ choice to speak first seems to have paid off, as the rest of the party leaders who followed ended up justifying their motions rather than criticizing.

Total Short Circuit
—Obviously, I chalk up Androulakis’ verbal slip to a classic case of… short circuit. He accused the government of “oumerta.” I assume he meant “omertà,” despite repeating it at least three times… with an “ou,” unless it’s some kind of dialect, in which case I’ll bow out gracefully—I’m no expert on the Cretan vernacular.

Voridis, Samaras and the Useful Idiots
—Many at the Maximos Mansion see Voridis’ bill on reinforcing deportation mechanisms for illegal immigrants—which is going into public consultation in the coming days—as an opportunity to reconnect with New Democracy’s traditional voter base. As we’ve already mentioned in this column, the provisions are quite tough. Anyone whose asylum application is rejected at any level will be given a short grace period to leave voluntarily. During that time, they’ll be under administrative detention and possibly monitored with an ankle bracelet. Once that time is up, their continued stay in Greece will automatically become a criminal offense punishable by at least three years in prison, no parole.
Maybe this—meaning that the government isn’t abandoning its roots on issues like immigration—explains the personal attack on Voridis by Samaras, who aspires to present himself as the sole, authentic voice of the Right. I’m referring to the former PM’s comment at the War Museum about once “good students” turning into “useful idiots.”
Now, I don’t know what Tzoumakas thought—he was there too, along with other notable figures like Louka, Laliotis, cousin Tsipras, Mantzouranis and the rest of the progressive forces. Spite is blinding, but what can one say?

Hak, the Embassy and Papastavrou
—There’s been a flurry of activity at the U.S. Embassy lately. Since Kimberly’s arrival has been pushed to September, and the current No. 2, Maria Olson, is heading to Cairo, Joshua Hak will be landing in Athens at the end of the month as the new deputy and right hand of the incoming ambassador.
Hak will run the embassy during the summer and is a seasoned career diplomat, with previous postings in Korea, Tokyo, and Hong Kong, among others. He’s also served as Deputy Assistant Secretary for Eurasian Affairs and previously headed the office covering U.S. relations with Southern Europe—including Greece, Turkey, Cyprus, and Malta.
In other words, Hak knows our neighborhood well, which is crucial for giving Kimberly solid advice.
I also hear that last April, Hak met with Environment and Energy Minister Stavros Papastavrou at the ambassador’s residence in the U.S., where they had a comprehensive discussion. After all, Chevron and Exxon are “playing ball” in Greece’s EEZ.

The Olympians at the Presidential Palace
—By the middle of next week, the invitations for the customary reception at the Presidential Mansion—on the anniversary of the restoration of Democracy—will have gone out. I’m told President Tasoulas won’t be cutting anyone from the guest list, although statistically, only about one-third of invitees actually show up.
This year, the honorees will be the Olympians from last year’s games in Paris—meaning all those who placed up to 8th in their event.
Last year, it was the team that won Euro 2004 that got the nod.

The “fermentation” among doctors and Patoulis
—I saw Patoulis the other day arriving cheerfully at the Samaras–Karamanlis event and got curious about his status. I hear that ND is also quietly looking for an alternative figure to head the Athens Medical Association, since Patoulis’ term ends in 2026.
Relations between Patoulis and Maximos are reportedly strained, and some are floating the name of Matina Pagoni—traditionally close to Adonis Georgiadis—as a possible solution.
Discussions are ongoing. Also, I should mention there’s some movement over at the National Organization for Medicines (EOF), where Evangelos Manolopoulos remains president for now.

The Conscientious Greek Ambassador
—Despite the often unjustified criticism faced by the Diplomatic Service, in recent days it has shown a high level of professionalism and rare dedication. When the crisis broke out with the Israeli bombings, Greek Ambassador to Iran Stylianos Gavriil happened to be in Athens for Diplomatic Mail.
Though he could have stayed put—given the airport closures—he instead traveled via Turkey and Azerbaijan to reach the Iranian border. From there, he drove, amid bombings, to return to his post so that the Greek Embassy in Tehran would remain open and operational.
Also, despite a Foreign Ministry directive allowing the repatriation of all diplomatic staff from the embassies in Tehran and Tel Aviv, as well as the Consulate General in Jerusalem, the diplomats have remained at their stations…

Vasilakis’ “Chinese Opening”
– Although it had been expected for some time, it became official yesterday, Wednesday, June 18: Changan Hellas, the new company of the Vasilakis family, has formally arrived. It will represent the namesake Chinese car manufacturer in Greece. The new company was established with an initial share capital of €100,000 and Autohellas as its sole shareholder. George Vasilakis is Chairman and CEO of the Board of Directors, with Antonia Dimitrakopoulou, Nikolaos Krikos, and Andreas Christoforidis as members. Changan has a 40-year history in vehicle manufacturing and operates 34 factories worldwide, ranking among the industry’s top players with annual sales reaching 2.68 million units. The agreement with the Vasilakis Group was signed in early May, and the first vehicles are expected to arrive in Greece in the fall. Reportedly, the debut will feature two new electric models, including the Deepal S07 (a fully electric crossover), with the lineup set to expand in 2026 to include plug-in hybrid cars as well.

Civil War in Grivalia Hospitality
– Now to the feud making waves in the market, which has escalated to the point of affecting even the banks. Combining the roles of Executive Chairman and CEO always causes friction, and Grivalia Hospitality is no exception. The honeymoon between George Chrysikos and Natalia Stratfi didn’t even last six months. But this isn’t just friction—it’s open confrontation. Market sources say Chrysikos is having second thoughts about appointing Stratfi as CEO, feels inadequately informed about her upcoming moves, and suspects that Eurobank and Fairfax HQ aren’t always getting the full picture about him. Meanwhile, Grivalia Hospitality is in the red, and Prem Watsa has made it clear in a letter that he expects George and his team to have learned their lessons from last year. So, how this civil war unfolds is anyone’s guess. That said, sources tell me that while Chrysikos’ influence may have waned in Canada, he still has leverage, and the balance of power tilts in his favor.

Christos Megalou to Politico: RRF Tools Should Serve Defense
– In an interview with Politico, Piraeus Bank CEO Christos Megalou discussed redirecting European investments toward strategic defense infrastructure by leveraging the RRF’s regulatory framework. “What was successfully tested with the RRF can work in defense as well,” he noted. He added that Piraeus Bank has already adjusted its credit policy to participate in such financing, aligning with the path taken by major European banking giants.

State Lottery Tender Begins
– After getting the green light from the Superfund’s board, the first phase of the international tender to assign the exploitation rights of state lotteries (National, Popular, New Year’s, European, Instant) for a 10-year period has officially started. This initial phase concerns expressions of interest from investors, followed by the call for binding bids. The process is moving quickly since the current contract, held by Hellenic Lotteries, expires in April 2026. One of the key criteria for awarding the rights is the expansion of the lottery sales network. This is a niche sector in the gambling market that favors operators with multiple distribution channels—like OPAP, the current operator. Therefore, while some providers may express interest, few are expected to reach the stage of submitting binding offers.

Health Sector: Companies Coming and Going
– The health sector remains active in various ways. Smith & Nephew, a British multinational medical equipment maker founded in 1856 and headquartered in Watford, England, is making a comeback to Greece. Having exited the market in 2019, it now returns with a new subsidiary—Smith & Nephew Greece—with a share capital of €5 million and CEO Alessandro Tozzi, who oversees operations for Greece, Israel, and Eastern Europe. The company cooperates in Greece with Mediplat, K. Papaellinas S.A., and IntelligENT Medical. In other healthcare news, five clinics and a rehabilitation center have been spun off from Euromedica, following a deal with HMHTHEA (Errikos Dynan), which is acquiring these units. These include Thessaloniki General Clinic, Dodecanese General Clinic, Kyanos Stavros, Genesis, Zoodochos Pigi, and the Arogi rehab center.

Fierce Clash Over SEPE Elections
– On Wednesday, June 25, the Hellenic Association of Information and Communications Technology Enterprises (SEPE) will hold elections for its 221 members to choose their new leadership. For the first time in 30 years, there is a strong opposition challenging the current administration led by Giota Paparidou, with the Quest Group playing a leading role in the bid for board majority. The opposition held a press conference to present its proposals. Effi Koutsourelli, Vice President of Quest, who had previously challenged Paparidou’s leadership via an open letter, did not appear at the event. Still, several top executives from major IT firms such as Natech and DotSoft made a strong showing.

Microsoft Puts Pressure on Greek Partners
– We talked yesterday about the visit of Microsoft’s Executive VP and Chief Commercial Officer Judson Althoff to Athens and his meeting with the Prime Minister. But there was an economic angle to the visit too: Microsoft has decided that Europe will be a prime territory for its global expansion. As a result, it has significantly raised the commercial targets for all its partners in Europe. In Greece, this shift has caused some panic: for the first time, revenue targets for Microsoft partners—not just increased, but in many cases, tripled! These include Managed Service Providers (MSPs) and IT firms specializing in Microsoft solutions. Rumor has it that many of Microsoft’s Greek partners are now discussing forming alliances to meet these ambitious new goals.

How Much Did Storm Daniel Cost?
– The Foundation for Economic and Industrial Research (IOBE) conducted a study on how climate change affects the Greek economy. Among other data, it records the damage caused by storm Daniel in Thessaly. According to the study, over a three-year period following the storm, GDP losses reached €1.4 billion, and 58,000 jobs were impacted in the wider region.

ODDIX Postponed 4 Out of 6 Planned Auctions
– With €43 billion in cash reserves and having already covered €7.45 billion out of the total €8 billion in annual borrowing needs, ODDIX can afford to stay away from the disoriented money markets. This deliberate market distance has boosted the value of Greek bonds. The spread with German bonds has dropped to 73 basis points from the 85–90 range earlier this year. Right now, Greece borrows more cheaply than Italy and almost as cheaply as France. The 10-year U.S. Treasury bond yields 4.38%, while the Greek equivalent is at just 3.317%. Even so, Scope Ratings analysts—while acknowledging the strong profile of Greece’s public debt—recommend broadening the domestic investor base and enhancing liquidity in the Greek bond market to ensure long-term sustainability.

Yogurt Makes the Difference (and It’s Worth €568.7 Million)
– Once again, the stock of Serres-based dairy company KRI KRI bucked the overall downtrend and closed with a new 2.75% increase at €17.2. In turbulent markets, investors typically favor “defensive” stocks, but in KRI KRI’s case, there are also growth expectations—especially in the U.S. yogurt market, where KRI KRI and FAGE are thriving with the famous “Greek Yogurt” that’s flying off the shelves. FAGE was one of the first Greek companies to introduce strained Greek yogurt to the tough U.S. market back in 1990, with its Total brand winning over consumers. KRI KRI entered the U.S. market in September 2024 with its Greek Frozen Yogurt, already placed in about 250 stores in Texas, with plans to expand further in 2025. In times of crisis, foreign market revenues are a safety net for businesses. KRI KRI’s market capitalization has now surpassed €568.7 million.

Battle to Hold the 1,800-Point Fort
– The rise and fall—and rise again—of the 1,800-point fort of the General Index drove higher trading volumes in yet another session marked by fear and uncertainty. There was no panic selling, just a lack of bold buyers and some profit-taking from heavyweights that had posted strong gains since the start of the year. Also in play: a small group of investors trapped since last Friday when market enthusiasm pushed turnover over €280 million (with €182 million in bank stocks), only for the bombings in Iran to follow. Yesterday, €96 million of the €184.8 million turnover involved the four systemic banks. The U.S. holiday further thinned out buyers—everyone prefers to hear from the U.S. President and the Fed Chair before making moves. In Athens, derivative contracts expire tomorrow, and many who took short positions in May—based not on foresight but on high year-to-date gains—would like to see the index drop. Yesterday started hesitantly but optimistically, with the index reaching 1,826 points, only to slump to 1,787.90 (-1.58%) by noon, before the “cavalry” arrived to pull it back up to 1,801.93 points (-0.81% from Tuesday’s close).

“Antibodies” for 1+3 Stocks on the Exchange
– Helping to limit the General Index’s losses were one heavyweight stock and three mid-caps: Coca Cola HBC, KRI KRI, Profile, and Dimand. Coca Cola HBC’s 1.5% rise was a rebound after four sessions of losses, lifting its valuation back above €17 billion and within €2.3 of its all-time high of €48. As for KRI KRI, as noted earlier, it returned above €17, narrowing the gap with its all-time record of €18 set last May. Regarding Profile…