Hello, the important news of the day is expected from Brussels, where this afternoon the vote will take place for the presidency of the Eurogroup, in which our own Kyriakos Pierrakakis is participating. Twenty votes are “in play,” that is, as many as Pierr’s colleagues — the Ministers of Economy — including him. Opposite him is the Belgian Minister of Finance and his “stablemate” in the European People’s Party. Of course, there are predictions and assessments in our favor, but that doesn’t mean anything yet until this afternoon when the vote will take place — unless the Belgian resigns earlier if he sees he is losing, though no one knows or says anything about that. So, good luck to the Greek minister, because honestly, we repeat, it’s no small thing — after the curse of the previous decade for the country and the economy — to now take the presidency of the Eurogroup.

M.M.’s ultimatum on the blockades

It was no coincidence that Marinakis appeared yesterday (on Action24) to outline an ultimatum for dialogue addressed to the farmers, telling them to form a coordinating committee and come organized with demands. A possible day for a meeting with Mitsotakis or with the Hatzidakis–Tsiaras duo is considered to be Monday, provided of course that the farmers agree, since they have a “coordinating meeting” on Sunday. Nevertheless, even in M.M. they are concerned about how things are developing, since until now the issue was mainly with transportation on the national highways. As we get closer to Christmas, the situation changes, as there are complaints from tourist destinations — for example from the “Mill of Elves” in Trikala — while many more citizens will want to travel. So the government also feels the pressure to take an initiative to break the deadlock. Of course, the farmers too will feel this social pressure if they don’t respond to the call for dialogue, because everyone reasonably looks after their work and their own interests.

Pre-holiday blue complaints

Yesterday’s gathering at the ND offices with about 30 MPs in person and another 20 on Zoom to hear Tsiaras’ briefing again gave the “blue” officials a “temperature reading” ahead of Friday’s Parliamentary Group meeting. Complaints were heard — and quite a few — although the session was not as explosive as the one in mid-October under similar circumstances. But there are many complaints, mainly because MPs from rural regions are “getting beaten up” in the agricultural prefectures. I also note Voridis’s pointed jab, who blames the government (of which he was a member until recently) for lacking a strategy in handling the blockades. He implies that when he was in Maximos Mansion and handled the 2024 blockades, things went more smoothly. To be honest, I tried in good faith to follow the on-camera statements of the ND MPs and understand whether, beyond a logical irritation to show voters they care, there was any real justification. I single out Ms. Arampatzi’s statement, which honestly reminded me of that famous one by the president of Edessaikos. Good grief, people!

Crisis and prayers

Speaking of Arampatzi, she almost monopolized attention at some point, as she cornered the poor president of OPEKEPE and attacked him relentlessly. At one point she even lashed out at her fellow MPs when they asked her not to be the only one talking. But Arampatzi was unstoppable, and so… Maria Antoniou from Kastoria got the brunt of it, when Arampatzi told her that if these things were happening in her prefecture, she too would be doing the same. Another revolutionary method heard for dealing with the problems was… prayer. “Unity and prayer,” said Evros MP Tasos Dimoschakis three times to calm tempers. As you can understand, we have a blue circus.

The MP’s favor and OSE

An unbelievable and persistent favor requested by an ND MP has come onto the radar of Deputy Minister of Transport Konstantinos Kyranakis, I’m told. The MP from an Attica region, who generally “has an eye” on Kyranakis and also has sensitivities regarding taxis, is said to be persistently asking OSE — perhaps under the “brain gain” banner — to hire two of his own people from his electoral district. Not of course for them to do any actual work, but so he can “pull” them into his office, although I don’t know how legal all this is. In fact, a few days ago, his director even went to OSE in person to cause… a commotion. As you can imagine, the matter has reached Kyranakis, as OSE’s senior staff were stunned by the MP’s persistence.

Adonis

I read yesterday Adonis’s post commenting on the court’s conviction of the two Novartis “witnesses,” Destempassidis and Maraggelis, as guilty of perjury. I believe that he needed just a little more to be sitting next to Samaras and Venizelos at the event they attended, and I think the moment they all appear together somewhere is not far away. By the way, where is Mimi (Papaggelos)? Where is that soul?

Code name: “finish Odysseas”

Now let’s move a bit to the green news. Something President Nikos (of ours) does not want to hear lately is the name “Odysseas.” The first reason is that “Odysseas” reminds him of Ithaca and inevitably sends him toward unpleasant associations with Tsipras vying for the helm of the center-left. And the second reason is that Konstantinopoulos is also named Odysseas — and he recently threw, when asked about Tsipras, yet another jab at Androulakis: “If PASOK had 22%, Tsipras would at most write a book,” the Arcadia MP said, and no one (absolutely no one…) responded against him. Between us, is he wrong? I’m told some even suggested that Androulakis expel him. But since he understands the turmoil such a move would cause in the immovable PASOK, he preferred for the time being to move with the code: “finish Odysseas in Arcadia.” Which means our leader will try to block Konstantinopoulos’s re-election by seeking an “opposing force” for the ballot. If the two hardcore presidential loyalists (they smirk here) being mentioned — Vangelis Giannakouras and Kostas Papageorgiou — actually run, it’s quite likely that the “presidentials” will split and Odysseas will come out strong.

Anna in the South

Anna Diamantopoulou has made her decision and will run in Southern Athens. Fresh polls show Diamantopoulou far ahead in the southern district, but she also seems to lead in Northern Athens and Eastern Attica. In the southern district, if PASOK doesn’t “unstick the needle,” it elects one MP. The current MP is Pavlos Christidis, while former MP Tonia Antoniou will join the race again, as she has steady, concrete-like strength in the area. Most in PASOK predicted that Androulakis would place Anna on the nationwide list so she could campaign without limitations. But the president had other plans…

Rural for Petros?

Two MPs came from SYRIZA to PASOK to run in Thessaloniki A — and both made statements that caused turmoil at Harilaou Trikoupi. Rania Thraska proposed cooperation with Tsipras, and Petros Pappas praised Adonis Georgiadis for his work ethic at the ministry. Pappas “corrected” his statement as instructed by Harilaou Trikoupi, but he has likely not escaped the leader’s anger. The funny part is they told him it’s better if he doesn’t run in Thessaloniki A — where Thraska is — but in Halkidiki. The only connection Pappas has with Halkidiki is that he did his rural medical service there. Androulakis’s goal, of course, is to cut down the current Halkidiki MP Apostolos Panas, who supported Haris Doukas. What a lovely atmosphere, what a lovely party!

Alexis in Patras

The Royal Multipurpose Center is high on the list for events in Patras. It overlooks the new port of Patras, has an excellent surrounding area and balconies in the hall, which sometimes fills with people for concerts and other times hosts campaign speeches. It’s also good for book presentations, and yes — it even has balconies in the main hall. So, next Tuesday — when Kyriakos Mitsotakis will be taking the podium before the budget vote — our Alexis will hold his second event for “Ithaca” at the Royal. He chose Patras as his second “station,” not Thessaloniki, because the atmosphere is undeniably warmer than in Northern Greece. Tsipras has every reason to expect a large turnout in Patras, the seat of Western Greece, and for another significant reason: the SYRIZA regional organization has already turned toward supporting Tsipras’s initiative, while besides the Achaean MP Andreas Panayiotopoulos, MPs Dionysis Kalamatianos (Ilia) and Miltos Zabaras (Aetolia-Acarnania) have essentially already joined his camp. The MPs may be in Parliament next Tuesday for the budget vote, but their people will be heading toward the Royal. Tsipras’s bet is to mobilize the PASOK supporters — especially the Papandreou loyalists, who have a strong presence in the area but are sidelined or inactive because of Androulakis. Alexis wants to make a strong play in the home region of the other former prime minister, George Papandreou. But predictions insist that at the Patras event, the movement of PASOK officials toward the venue will be nonexistent.

Silence in SYRIZA

Yesterday’s meeting of the parliamentary group ended with exercises in… muteness, since after the president, Sokratis Famellos, the floor was taken by the Finance Sector Head, Nikos Pappas, who spoke about the budget — which he knows very well, numbers and all. Then the speakers (Gavrilis, Notopoulou) and the parliamentary representative Christos Giannoulis spoke, and the session ended quickly and thus… bloodlessly, with Pavlos Polakis absent. You see, the Chania MP chose to intervene in a leadership manner on social media during Famellos’ speech, declaring himself “present” at the farmers’ blockades in Chania. After all, several SYRIZA MPs have already visited the blockades, but yesterday’s process was blocked by Tsipras’ team, which rushed from early morning to announce the new presentation of “Ithaki” — as we wrote, in Patras. Of course, President Famellos did leave a few hints yesterday about Alexis, bringing back the issues of “fragmentation and petty political calculations,” but this concerns MPs very little. The main problem many of them face lies in… the budget, since the vote takes place on Tuesday — the same day Tsipras is holding the Patras event — and they are already looking for a way to… teleport themselves.

Giuseppe is ready…

Now take two pieces of business news to start with. So, we told you that things were heating up for Piraeus Bank’s brokerage to acquire Euroxx, and… not a peep was heard, no denial, no move from the Capital Markets Commission (heaven forbid they be disturbed!). I’m told it’s a done deal and we’ll hear about it with the… bells of Christmas — you know, so there’s no fuss. Someone even told me the price, reportedly 40 million euros, but I don’t see Giuseppe letting it go that cheap. We wait, wishing him good profit.

Direct award by EFKA – Who signs such things?

The other rumor is that the job of “collecting the uncollected” of EFKA — about ten billion euros — will be awarded without a tender! And then another 40 million will be spent on the media so they stay silent… Who would be crazy enough to sign something like that? No one, the Maximos Mansion replies.

New deal coming for EpsilonNet

Information indicates that Giannis Michos, founder and CEO of EpsilonNet, is in very advanced negotiations to sell a majority stake to the U.S.-origin fund HF Capital. This development comes just months after the “golden” €650 million deal that led EpsilonNet off the Athens Stock Exchange, with the participation of General Atlantic and National Bank. HF Capital, based on available data, has often acted as an advisor to tech companies on IPOs, mergers, and capital markets, providing alternative financing options in the growth capital sector. The structure and profile of the fund indicate expertise in business software and technological development. Market information suggests that Michos would not rule out transferring the company’s management to the new investor if discussions conclude successfully. Michos had agreed to retain control and leadership of EpsilonNet even after General Atlantic entered. EpsilonNet appears to be closing 2025 with turnover around €150 million. The group has announced an investment plan exceeding €100 million for the next five years, with emphasis on exports and acquisitions.

Hatziminas’ major announcements

Christian Hatziminas has signed a major contract between the European intergovernmental organization OCCAR and the THEON/Hensoldt consortium for the supply of an additional 100,000 night-vision systems (NVGs) to the German Armed Forces and 4,000 NVGs to the Belgian Armed Forces. The new contract, including options, has a total value of around €1 billion and constitutes the largest single order for night-vision systems in NATO member-state history in Europe. THEON, listed on Euronext Amsterdam, is emerging as the largest supplier of night-vision systems in Europe, with a backlog of orders 2.3 times larger than the one announced at the beginning of the year. Next Tuesday, however, significant announcements will be made for Monte Christian’s EFA Group, with the entry of new investors and major investments of €120 million that are changing the game in Greece as well.

The Sbokou sisters’ holdings

Sisters Konstantza and Agapi Sbokou established two new holding companies yesterday. These companies relate to the family’s hotel group, Phāea Resorts, which owns luxury hotel complexes and villas in Crete, the family’s homeland. Konstantza Sbokou, president of Phāea Resorts and wife of Achilleas Konstantakopoulos, founded Phaedra’s Home Holding Single-Member IKE, headquartered at 46 Amalias Avenue (where TEMES offices are located), with share capital of €53,918,851 divided into equal company shares of €1 each. She contributed €20,000 in cash and, as a non-cash contribution, provided 10,668,104 common voting shares of Phāea SA, valued at €53,898,851. Similarly, Agapi Sbokou, vice president and CEO of Phāea Resorts, founded Ariadne’s Thread Holding Single-Member IKE, headquartered at 6 Vasilissis Sofias Avenue, with identical share capital and structure, contributing €20,000 cash and the same number of Phāea shares valued at €53,898,851. It is recalled that Eftychis and Giorgos Vassilakis also sit on the board of Phāea Resorts.

Fidelity is selling

The official announcement of Athens Stock Exchange’s upgrade to a developed market by FTSE Russell on October 7, 2025, and the pending completion of ATHEX’s acquisition by Euronext, have created a new situation for large funds investing exclusively in emerging markets. In recent days, we’ve seen Fidelity systematically reducing its holdings in JUMBO (below 5%), TITAN (below 5%), and Sarantis (below 10%). In our shallow pre-Christmas market, this systematic liquidation puts pressure on prices, thus creating buying opportunities for those who believe in the market’s prospects. Fidelity manages major emerging markets funds with strict mandates — they must track the MSCI Emerging Markets and FTSE Advanced Emerging indices. The upgrade becomes effective on 21 September 2026, offering a year-long adjustment window, unless done earlier. Meanwhile, Euronext has completed the acquisition of 74.25% of ATHEX Group and is preparing its full integration into the European network. While large Greek banks and blue chips will enter developed market indices, many small and medium-sized companies may be left out. This new landscape affects not only Fidelity but other major emerging markets funds as well.

Frangou’s $1.9 billion shipbuilding program

Angeliki Frangou continues undeterred with the shipbuilding program of her NYSE-listed company. The company manages a fleet of 171 ships — tankers, bulk carriers, and container ships — with carrying capacity of 15 million DWT and 287,243 TEU, with an average age of 9.7 years. A shipbuilding program is underway for 25 ships, 23 of which will be delivered between 2026–27 and the remaining two in 2028. Of these, 17 are tankers and eight are container vessels. The total value of the program amounts to $1.9 billion.

Digital Lloyd’s Register and Latsco

The move by Britain’s classification society Lloyd’s Register and Latsco to test digital ship inspections is not just a technological exercise. It’s a shift that could affect the entire way shipping operates. Until now, inspectors had to be physically on board to check systems, safety, and compliance. With the new process, many of these checks can be performed remotely, based on real-time ship data. Technologically, this shows that telemetry and data analytics are no longer auxiliary but tools capable of replacing traditional, time-consuming procedures. For shipping, it’s like moving from workshop service… to remote “software-update-style” diagnostics. This evolution means two things: first, less downtime for ships and therefore lower costs, and second, more predictable and “clean” processes — something investors always like. Companies that adopt such technologies appear more efficient and modern. Simply put, shipping is starting to operate more like a high-tech sector. And that changes the game for everyone.

New moves

Latsco and Super Eco Tankers have been active on the shipbuilding front in recent days. Latsco exercised an option for two 50,000 dwt product tankers at the K Shipbuilding shipyard (Jinhae) in South Korea, for deliveries in 2027–2028. Super Eco Tankers of the Tomazou family proceeded with contracts for 2+1 tankers of 40,800 dwt at the Yangzhou Guoyu shipyard in China, at a price of about 40.3 million dollars per ship, for delivery in 2028. In the secondary (second-hand) market, Greek buyers were represented by Velos Shipping Co Ltd, which acquired the Kamsarmax KEY FRONTIER (80,679 dwt, 2011, Universal Shipbuilding, Japan) at a price of 18.8 million dollars, with delivery scheduled between early February and early April 2026 and with SS/DD completed. Greek interests were also behind the sale of the MR UOG SYROS, with a capacity of 51,745 dwt and built in 2010.

The “for-sale” signs and Intralot

Analysts who predicted sell-offs in the UK due to the sharp increase in taxation on online gambling (from 21% today to 40% from April 2026) are being proven right. The well-known Evoke group, owner of William Hill and 888 among others, has appointed financial advisors (Morgan Stanley and Rothschild & Co) to explore strategic options, including the sale of the group or the spin-off of part of its subsidiaries and activities. The group estimated that the tax increase will burden it by approximately 135 million pounds annually, undermining its profitability and viability. Evoke had acquired the network of 1,400 William Hill shops a few years ago, and as it significantly increased its leverage and has substantial exposure to the British market, it was considered the weak link in the sector. Analysts believe that the upheaval in the sector will lead to consolidation and expect significant reshuffling. For Intralot, S&P Global Ratings stated that the company has sufficient room to manage the recently announced tax hikes, as its profitability remains resilient. The company’s management has said that opportunities will arise in this new environment and has already announced aggressive measures to mitigate the tax impact, while it intends to pursue an increase in its market share in the UK.

Dispersion placements before year-end

The share of EKTER returned to “normal” trading volumes yesterday after the latest wave of pre-agreed block trades through which 6% of the company was transferred to institutional investors. The process began with EYATH, with the Hellenic Corporation of Assets and Participations (HCAP/“Ypertameio”) selling 5% of its shares to institutional portfolios, followed by EKTER with a 6% placement, and next in line is ELTON. The new Athens Stock Exchange regulations require a minimum free float of 25% for companies with a market capitalization under €200 million, while for larger companies the threshold is 15%. EYATH, with a free float of just 21% and HCAP holding 24.02%, completed the placement of 1.815 million shares (5% of the share capital) on December 8. HCAP now retains 19%, and the free float comfortably exceeds 25%. EKTER followed two days later. The main shareholder, Athanasios Sipsas, disposed of 1.7 million shares to Greek and foreign institutional investors. ELTON, with the Papathanasiou family holding 78.17%, remains in the “red zone.” With a market capitalization under €200 million and a free float limited to 22%, the chemical products company has until January 2026 to restore its free float, otherwise it faces a “penalty,” meaning a transfer to the Surveillance category. Logically, this will not occur, as ELTON’s management is expected to complete its move soon.