Loverdos, K.M.’s promise and the “ready Nikos,” the approaches within ND & Samaras, National Bank and Piraeus Bank for the Ethniki Asfalistiki, the City meeting

Hello, I’ll commencement with yesterday’s main governmental news: Andreas Loverdos joining New Democracy (ND). Loverdos has ever been a centrist, moderate, low-profile person who, wherever helium served arsenic a PASOK minister, near down bully impressions and immoderate tangible results — however overmuch oregon however small is subjective. He was terribly persecuted by the pack of his governmental opponents arsenic good arsenic communal fraudsters successful the Novartis case, but was acquitted lone a abbreviated portion ago. Obviously, ND had been waiting for his last acquittal earlier taking him in, but I person this question (and possibly you stock it too): wherefore successful today’s PASOK — which is struggling astatine 12–13% and has mislaid dozens, if not hundreds, of susceptible centrist figures to ND — was determination nary country for Loverdos? What pushed him away? Because honestly, I don’t spot immoderate large ideological differences betwixt ND and PASOK. Was it that “ready-Nikos” (Androulakis) didn’t privation him? Did Loverdos look superfluous? I don’t cognize wherever helium volition tally oregon what luck he’ll person (though we privation him well), but compared to galore we spot and perceive successful PASOK today, Loverdos is successful a antithetic people altogether arsenic a politician. And here’s a spot of info: 2 weeks ago, K.M. (Kyriakos Mitsotakis) had discussed Loverdos’ introduction into ND straight with him and had promised it would spell guardant arsenic soon arsenic his tribunal lawsuit was closed — and truthful it happened.

“Bloodbath” successful the South

Loverdos’ summation to ND’s ballot successful the Southern Athens Constituency truly shakes up the deck. That’s wherever six ministers are elected (Dendias, Theodorikakos, Kyranakis, Spanakis, Theocharis, Anna Karamanli), 2 MPs (Kallianos, Voultepsi), positive 2 newcomers elected successful May 2023 (Gaitanis, Gelefstathis). Also rumored: Stavros Papastavrou, erstwhile MEP Stelios Kympouropoulos, and Nikos Romanos had already announced his candidacy. In short: chaos.

Taking it casual with Samaras

As we attack elections, and fixed that Mitsotakis holds the pb successful the polls astatine astir 30% — treble that of PASOK — helium volition progressively effort cautious approaches connected several… thorny outstanding issues (how much delicately tin I enactment it?). For example: Maximos Charakopoulos arsenic radical typical successful Parliament, showing up astatine Evripidis Stylianidis’ publication presentation, and the adjacent time astatine Patelis’ book. I asked astir Samaras and the root replied: “That contented with President Antonis is delicate, sensitive, and precise personal. K.M. wants to grip it himself with large care.” Without immoderate other info, I deliberation the Mitsotakis–Samaras narration wrong ND volition present beryllium approached precise otherwise — led personally by the PM.

KYSEA–Belharra

Today’s KYSEA gathering (11:00) volition beryllium interesting, with absorption connected the migrant travel toward Gavdos and Crete’s confederate coast. Plevris says that successful the past 2 months alone, determination person already been 1,500 deportations and voluntary returns. Also connected the agenda: the apt “green light” for procurement of the 4th Belharra frigate, with Greece exercising the enactment included successful the contract. Let’s spot if successful tonight’s ANT1 interview, K.M. says thing much astir it.

Normalization with Eugenios

After immoderate stormy months with the Church of Crete, yesterday’s gathering betwixt K.M., Archbishop Eugenios, and Governor Arnaoutakis marked a “thaw” and gradual normalization. However, what was emphasized wrong the gathering — reportedly held successful a bully ambiance — is that the authorities volition not retreat the amendment regarding the immovability of the Metropolitan of Kydonia and Apokoronas, peculiarly Amphilochios of Kissamos. On the different hand, K.M. is said to person encouraged Eugenios to determination guardant with the idiosyncratic of his prime and adjacent this divisive matter.

London, Kikilias, and the Greek shipowners of the City

As portion of “London International Shipping Week,” Minister of Shipping Vassilis Kikilias was successful London. On this occasion, Greek Ambassador to the UK Giannis Tsaousis hosted a meal astatine the embassy residence successful his honor. Among the 50 guests were salient Greek shipowners successful the City. First and foremost, Haralambos Fafalios, president of the Greek Shipping Cooperation Committee (known simply arsenic “the Committee”), which this twelvemonth celebrated 90 years of beardown beingness and remains a dependable pillar of organization advocacy and strategical enactment for Greek shipping. Also present: Dr. Nikos Tsakos (third vice president), Diamantis Lemos, Nikolaos Empeirikos, and members of the Mavroleon, Tsavliris, and Kerdos families, among others. In his speech, Kikilias promised reforms to trim bureaucracy successful registering ships nether the Greek emblem and to marque the registry much competitive.

To 6+4 of Hatzidakis to investors

At yesterday’s Athens International Investor Summit organized by the Hellenic Corporation of Assets and Participations successful collaboration with Blackrock, Vice President Hatzidakis (who had besides taken the legislative inaugural for the constitution of the Innovation and Infrastructure Fund with a “dowry” of 300 million), presented 6 comparative advantages of Greece to investors and 4 imaginable concern sectors. The 6 advantages are the precocious returns owed to the concern gap, macroeconomic stability, the geoeconomic vantage (single European marketplace and cardinal presumption astatine the crossroads of Europe, Asia and Africa), the inflow of funds from the EU, the business-friendly government, governmental and organization stability. As for the 4 sectors, beyond shipping, tourism, the nutrient manufacture and pharmaceuticals, helium mentioned energy, networks, defence and higher education. Let’s spot the response.

Countdown for National Bank – Negotiations with Piraeus Bank

Let’s present determination to different marketplace matters starting with the National Bank, for which the file predicts it volition play a starring relation successful banking developments successful the 2nd fractional of September. The file reports that intensive negotiations are presently underway betwixt National Bank and Piraeus Bank to resoluteness their Gordian knot of bancassurance. The accusation is that determination should beryllium nary uncertainty that the contented volition beryllium resolved and each slope volition spell its ain way. Simultaneously with the agreement, National Bank is cutting the umbilical cord with National Insurance, arsenic the ever silent, ne'er hasty and by quality cautious P. Mylonas is moving a process for the acquisition of 20% of an security institution with which it volition enactment connected bancassurance erstwhile it is freed from the ties of National Insurance and, by extension, Piraeus Bank. The column’s accusation is that the enactment process of the security institution that volition beryllium the caller spouse of NBG is advanced, and barring surprises the quality volition travel earlier the extremity of the month. Five security companies are participating successful the process, since the prize of exclusive practice with National Bank is coveted successful the security market, particularly aft the reshuffling caused by the acquisition of Piraeus Bank. This besides explains the information of 5 security companies and is the crushed for the disorder that arose among america journalists, with each 1 penning down a antithetic institution sanction — I accidental due to the fact that each campaigner institution leaked the sanction of the rival it feared. I halt present truthful and database the security companies taking portion successful the “marriage” process with National Bank, which are: Munich Re (ERGO), Alliance, NN, Interamerican and 1 more.

The blitzkrieg woody of Credia Bank

And if National Bank volition instrumentality halfway signifier successful the coming days, Credia Bank is already successful the spotlight contiguous with its acquisition of HSBC Malta. There are 2 points of interest: The archetypal is the price, since the marketplace expected a terms of 300 cardinal and not 200 million. The 2nd is the blitzkrieg woody achieved by Credia, arsenic the Greek slope expressed involvement successful precocious July – aboriginal August stating that its connection would beryllium valid for 15 days and that it wanted a nonstop and straightforward deal. On 15/8 the non-binding connection was submitted and connected 16/9 the statement was announced. Today the CEO of Credia Bank, E. Vrettou, speaks to analysts and volition supply an authoritative representation of the strengthening of ratios and figures. According to information, she volition notation that the assets of the caller slope volition transcend 15 cardinal euros and – according to management’s estimation – the last recurring profitability of Credia Bank volition beryllium strengthened by astir 90-100 cardinal euros annually.

The Czech’s concern successful Box Now

Emma Capital of Czech billionaire Jiri Smejc, known from its years-ago concern successful OPAP, continues to support an concern beingness successful Greece and 1 of its investments, Box Now, seems to person paid disconnected precise quickly. The company, founded successful 2021, has evolved into the largest subordinate successful the home astute locker market, attracting the attraction of PCP, the concern limb of Olympia Group, which acquired a 12.5% involvement successful Box Now. Based connected the published fiscal statements, the company’s turnover skyrocketed past twelvemonth to 15.3 cardinal euros from 2.9 cardinal euros successful 2023, a effect of the accelerated enlargement of its astute locker web and the commercialized agreements it secured. The investments being made affected the bottommost enactment of the equilibrium sheet, with losses astatine 5.8 cardinal euros, reduced from the 8.6 cardinal euros of the erstwhile year. The concern for the improvement of Box Now truthful acold exceeds 42 cardinal euros and continues to grow passim the country, with accent connected land Greece. Emma Capital’s program present besides includes neighboring markets, and frankincense the until precocious CEO of Box Now Greece, Dimitris Andriotis, has taken connected duties arsenic Group CEO for Greece, Cyprus, Bulgaria and Croatia, with the extremity of faster maturation successful these countries.

The Chinese caput coming to Greece, the Americans and Piraeus

From the Chinese embassy came into the acheronian country the accusation that “according to Xinhua News Agency, Li Xi, subordinate of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China (CPC) and Secretary of the Central Commission for Discipline Inspection of the CPC, volition marque authoritative relationship visits to Greece and Belarus from September 17 to 24, 2025. The visits volition instrumentality spot astatine the invitation of the New Democracy enactment of Greece and the Presidential Office of Belarus.” It volition beryllium absorbing to spot if the contented of the larboard of Piraeus volition beryllium discussed, which has been “targeted,” on with different Chinese-owned ports, by Washington, due to the fact that it is located astatine a strategical constituent amid geopolitical turbulence. All the much truthful now, with tensions successful Gaza astatine boiling point. COSCO has denied that its larboard units, which are connected the U.S. blacklist, are related to the Chinese military, and insists its operations proceed normally. The Greek broadside states it has nary authoritative information. Among the ports targeted by Washington are those successful which China holds important stakes, specified arsenic successful Panama, but besides successful Europe – peculiarly successful Greece and Spain – arsenic good arsenic ports connected the U.S. West Coast and successful parts of the Caribbean. There is interest astatine the Big Port. And the constituent is that erstwhile buffaloes fight, the frogs wage the price.

Orgasm successful Golden Visa issuances of commercialized properties

The program is simple: We bargain an aged and abandoned commercialized spot (an aged workshop, a tiny factory, a ample retail store, etc.) successful a neglected country of Athens. We person it into a residential spot and frankincense get a Golden Visa without paying €800,000, since €250,000 is capable according to the law. The alteration of usage from commercialized oregon concern spot to residential constitutes a aureate “way out” for those who privation to get a residence licence done the Golden Visa, with the lone prerequisite being the completion of the conversion earlier the application. Information indicates that lone successful the archetypal 7 months of 2025, lone successful Athens, a full of 17,254 Golden Visas were issued (+31.4% summation compared to 2024). This fig concerns residence permits done existent property investment, with the top involvement coming from citizens of Turkey, China and Israel. In July 2025 alone, 932 caller Golden Visas were issued, marking the largest monthly summation of the past 12 months. The forgotten commercialized properties of the superior travel to life, their neighborhoods alteration appearance, the wider country comes to life. In August determination was a slowdown owed to summertime holidays, but successful September the surge continues.

The greenish maneuvers of Greek shipowners

I wrote successful aboriginal September astir the holistic greenish modulation of shipping which the International Maritime Organization (IMO), led by Secretary-General Arsenio Dominguez, wants to execute by 2028. The effort is disjointed, the targets are considered unattainable and the astir important happening is that determination are nary alternate fuels with zero CO2 emissions successful production! The full happening is successful the realm of absurdity. Those who volition not usage specified fuels volition wage a taxation into a peculiar money per vessel and per c emission. And the question is wherever the ample amounts collected volition beryllium channeled. The contented was raised by Vassilis Kikilias successful the gathering helium had the time earlier yesterday with Arsenio astatine the IMO office successful London. He told him that the IMO Net-Zero Framework requires corrective adjustments, since the deficiency of greenish fuels requires much realistic timelines, just attraction of transitional fuels – specified arsenic LNG – arsenic good arsenic astute usage of the reward mechanism. But the crippled seems lost. In fact, starring the planetary absorption against the IMO is nary different than Donald Trump. Let’s spot what we volition spot this coming October erstwhile everything volition beryllium played astatine the highest level. Meanwhile, Greek shipowners, faced with this Gordian knot, chose a middle-ground solution which has an expiration date. What did they bash and what are they doing? They instal scrubbers connected their ships, reducing greenhouse state emissions done filtering, until they spot wherever things are going. According to analysts, astir 900–1,000 Greek-owned ships are equipped with scrubbers, representing astir 22% of the total. The main dilemma for Greek shipowners is however to marque usage of the existing investments successful scrubbers astatine a clip erstwhile the marketplace is shifting to LNG, methanol, ammonia, hydrogen and biofuels. In short, their lines got crossed.

Stock Exchange: Out of strength

Not for a azygous infinitesimal of yesterday’s banal marketplace league was determination buying involvement to bring the General Index into affirmative territory. It started with Coca Cola HBC (-2.42% astatine €42) which from the opening of the league was losing €1 from its price. Immediately after, the systemic banks followed. It is diagnostic that since Monday, August 25, erstwhile the sideways downward question of the General Index began, the 4 systemic banks person been losing ground, but the non-systemic ones are gaining what the others lose. Logically tomorrow, an upward absorption of the systemics is possible, since method investigation dictates that the Banking Index should not stray from yesterday’s closing astatine 2,202 points. In immoderate case, the Banking Index – adjacent contiguous – records gains of +71.29%, a information that allows not lone the securing of profits but besides rotation wrong the sector. Yesterday’s transaction worth exceeded €183 cardinal with €27.22 cardinal successful blocks, portion the General Index ended the league astatine 2,033.23 points, with regular losses of -1.18%. It is simply a play of wars and geopolitical concerns, with turmoil successful the indebtedness marketplace and currency shifts. In Greece, connected Friday the September derivatives for indices and shares expire and the restructuring of the FTSE Russell and Stoxx indices is completed. The aforesaid day, precocious Friday night, Moody’s volition people its verdict connected Greek creditworthiness, without peculiar expectations for surprises.

With an “Italian scent” the pressures connected slope shares

Bank shares were successful the crosshairs of sellers connected the Athens Stock Exchange, arsenic they were swept on by the “wave” of liquidations that deed banks crossed Europe. The root of the occupation was Italy, wherever the Meloni authorities plans to load the home assemblage with €3 cardinal implicit 2 years. With losses of 2.4% responded Intesa Sanpaolo, Mediobanca followed astatine -2.2%, Unicredit fell by 1.4%, portion Banca Monte dei Paschi di Siena moved little by 2.8%. Some of Europe’s large banks reacted with adjacent stronger liquidations. In Germany, Deutsche Bank slipped 3.3% and Commerzbank sank 4.2%. In France, Societe Generale led the losses astatine 3.7%, portion BNP Paribas and Credit Agricole reacted much calmly with a diminution of 1.7%. In Britain, Barclays fell 2.6%, Standard Chartered 2.3% and HSBC 1.2%. Spanish banks Banco Santander, Caixabank and Banco de Sabadell besides mislaid much than 2%.

Franchise agreements successful Greek hotels

All implicit Greece, aged edifice units and complexes are signing franchise agreements with large overseas tourism groups, changing their quality and offering a wholly caller product. International chains specified arsenic Hilton, Marriott, Accor, Wyndham and Radisson person already dynamically expanded their networks successful the country. Already 50% of seasonal hotels person signed contracts for 2025 portion 34% of them travel the committedness franchise model, committing 56% of their rooms astatine prices 8% higher compared to 2024. The caller franchise deals interest acquisitions and upgrades of five-star units, specified arsenic the Golden Milos Beach successful Milos by Domotel, oregon Radisson which is investing powerfully successful emerging destinations specified arsenic Mani. With these agreements, the prime of services and the instrumentality of the hotels are upgraded, portion caller tourer destinations are highlighted (e.g. Mani, Karpathos, Argolis). Franchise is evolving into a cardinal operator of restructuring of our edifice market, upgrading the merchandise and reducing the hazard of overconcentration successful Athens and the islands.

In the property of over-optimism

The latest disposable information amusement that 45.4% of American households person invested their savings successful stocks. Even successful the epoch of the large Dot.com “bubble” successful 2000, the corresponding percent was 38%. At a clip erstwhile the S&P 500 Index is soaring to grounds levels, lodging prices are astatine grounds levels, golden has breached each erstwhile record, bitcoin is astatine unprecedented levels, American households are basing their prosperity connected the anticipation of continuous terms increases. The “AI Euphoria” of caller years has outperformed the Telecom Bubble, adjacent the Railway Mania of the 19th century. The latest Bank of America survey of money managers (FMS) showed that the overwhelming bulk of them judge that banal markets are overvalued. Yet they proceed to invest, pursuing the aged saying of Chuck Prince of Citigroup: “as agelong arsenic the euphony is playing, you person to dance.”

…and abruptly Goldman Sachs “sees” golden astatine 5,000 dollars

Goldman Sachs’ main estimation is that golden volition scope 3,700 dollars by the extremity of the year. Suddenly, however, it enactment guardant the forecast that golden could soar up to $5,000/ounce if the credibility of the U.S. Federal Reserve is shaken. Even if a tiny percent (just 1%) of the backstage U.S. Treasury marketplace shifts toward golden owed to uncertainty, these flows are capable to thrust the precious metal’s prices to unprecedented heights. Goldman Sachs estimates the full worth of privately held Treasury marketplace portfolios astatine astir 57 trillion dollars. Therefore, specified a displacement by backstage investors toward the harmless haven equates to an further $570 cardinal successful request successful the golden sector. In practice, the golden marketplace is overmuch smaller successful size, truthful “overshooting” is rather likely. The governmental questioning of the Fed by President Trump and concerns implicit the independency of monetary argumentation represent déjà vu for investors who historically crook to golden erstwhile they fearfulness dollar devaluation oregon accelerating inflation. Many cardinal banks are expected to summation golden purchases, preparing for imaginable monetary shocks.