National affairs, Karystianou’s party, Rafina and the… brat, Maria, PAO and Melina, Ivan holds the port but Telis strolls around Thessaloniki ///

-Greetings, a week of nationalist involvement has conscionable begun, with the item being Mitsotakis’ gathering with Erdoğan, successful a play erstwhile each fronts are unfastened and uncertainties are immense some successful our wider portion and successful the full world. By the way, I’d similar to dependable a question for each those successful Athens who knock the government’s overseas argumentation and the Prime Minister because, they say… Trump is talking with Erdoğan truthful the Turks mightiness get F-35s, the Americans are person to the Turks now, and truthful on. Honestly, bash they truly deliberation that Trump’s caller regime—which has turned things upside down wrong and extracurricular the U.S., with unprecedented events successful history—will halt to see whether Greece is annoyed erstwhile they speech to Erdoğan oregon openly chopped large deals with him? Maybe we’re being a bit… self-centered, oregon are we conscionable saying thing for the involvement of opposition, oregon is it conscionable me?

Last greeting java earlier NYC
-For 1 greeting contiguous K.M. volition beryllium astatine M.M., and the greeting java volition beryllium convened earlier helium departs for NYC until adjacent Monday. His docket of meetings is already packed. Along with him volition beryllium Gerapetritis, who besides has a choky docket of meetings, Deputy Foreign Minister Alexandra Papadopoulou, who was successful New York earlier Washington, and Papastavrou volition besides beryllium successful the U.S. He has contacts astatine the Atlantic Council and a gathering with U.S. Energy Secretary Chris Wright.

Karystianou’s party
-Back to home politics: a connection Karystianou made the different day, I think, near the doorway wide unfastened for the instauration of a party—though fto maine accent the obvious, that it’s wholly her right. Still, statements similar “I don’t cognize if I could pb specified an effort…”, and “we’re not reasoning astir thing similar that yet, but I besides consciousness the need…”, and “if determination truly is 25% of radical who judge that the uncorrupted indispensable measurement forward” etc. etc., amusement that the woman—at the precise least—is earnestly considering it. So, arsenic usual, I asked the pollsters what they find astir the ‘Karystianou party’ successful surveys, should she so determine to spell for it. “We haven’t measured a Karystianou party, similar accidental the Tsipras party, but successful each the absorption groups we’ve run, the representation of implicit and cosmopolitan sympathy for the parent who is surviving the calamity of losing her girl doesn’t lucifer with her arsenic a imaginable governmental leader,” my polling root told maine and, betwixt us, I find that wholly logical. Again, of course, everyone has the close to effort their luck successful authorities and, from the looks of it, until the elections we’ll have… a downpour of caller parties. But since they each purpose astatine the aforesaid audience, successful the extremity the concern volition astir apt favour the opponent, who is one: Mitsotakis.

The brat…
-Now that I mentioned Mitsotakis, a person of mine, a bully gossip, told maine that anyone visiting Karamanlis (Rafina) astatine his office, aft a fewer minutes of speech with the erstwhile Prime Minister, hears him accidental thing like… whoever wants tin come, arsenic agelong arsenic the brat leaves Maximos, meaning K.M. Now, to beryllium honest, I wasn’t there, truthful I can’t curse to it, but I don’t find it implausible either—it’s conscionable that each those who want… the brat gone, politicians and businessmen alike, haven’t told america who and however would travel nether the existent circumstances, with today’s governmental facts. Like we said, we’re heading for an unforgettable winter—but look who’s talking… Rafina.

Pierrakakis’ turf
-“Like astatine home” is however Pierrakakis present feels successful meetings with his European counterparts. Six months aft taking office, the Finance Minister is gaining much and much crushed successful the Eurogroup and ECOFIN meetings, which traditionally instrumentality spot monthly. In fact, astatine the caller Friday and Saturday sessions successful Copenhagen, Pierrakakis was asked to instrumentality connected the relation of coordinator successful a highly captious treatment centered connected digitization and innovation—and, by wide admission, helium was “in his element.” In his remarks, the “Economy czar” focused connected the urgent request for Europe to drastically accelerate the processes of awarding nationalist contracts, particularly connected issues concerning emerging technologies. At the aforesaid time, helium stressed the interconnection of European systems, citing arsenic an illustration the benefits of interoperability the European COVID Digital Certificate—a connection by Kyriakos Mitsotakis that helped restart European economies aft the lockdowns. Pierrakakis’ connection was clear: immoderate reforms are casual and popular, others nevertheless transportation the “creative destruction” Schumpeter described. As helium said, it’s governments’ work to guarantee nary 1 is near behind.

Tsiaras successful Brussels
-Today Agriculture Minister Kostas Tsiaras volition person meetings with 2 EU Commissioners, with an oculus connected November 2, the deadline for submitting the caller subsidy program that volition travel with the merger of OPEKEPE into AADE. Tsiaras estimates determination volition beryllium nary problem, but the Europeans privation to beryllium informed astir each step, arsenic their caller acquisition is not precise encouraging.

Solution for ERT’s arrears
-I took a look astatine the draught measure connected ERT by Marinakis, the media curate and authorities spokesman, which has been successful consultation for a fewer days now. Among galore things connected nationalist broadcasting, what’s absorbing is that yet idiosyncratic recovered a solution for the contented of unpaid revenues from the nationalist broadcasting fee, which chiefly betwixt 2015–2019 piled up to large numbers, exceeding €40 million. The adjacent measure that volition spell to Parliament from the authorities spokesman, aft this 1 connected ERT, is astir determination TV channels that person been operating with impermanent licenses since 2003. Since then, 15–20 ministers person travel and gone, confirming the saying “nothing is much imperishable than the temporary.”

Kimberly and the renovated ambassador’s residence successful Athens
-It’s present official: Kimberly Guilfoyle is the caller U.S. ambassador to Greece, successful information the archetypal pistillate American ambassador. She’s expected astatine the embassy successful October. Meanwhile, I perceive that extended renovations are underway astatine the ambassador’s residence, modernizing it to supply each comforts for its high-ranking resident. Since I had the aforesaid thought arsenic you, my sources successful the wider American ellipse successful Greece rushed to archer maine that “the renovation was scheduled. The location is aged operation and needed renovation. We didn’t bash it for Kimberly.” I besides learned that nary peculiar preparations are being made for her arrival, isolated from the briefing papers already sent. And since galore are wondering if the embassy volition big a reception to invited Kimberly and present her to the Greek concern and governmental world, I’ve got news: insiders spot it… improbable successful the adjacent future! Here’s why: past summer, owed to melodramatic planetary geopolitical developments, the July 4th reception that was scheduled astatine the Megaron was postponed. Some thought of moving it to September, erstwhile Kimberly’s accomplishment was expected, sidesplitting 2 birds with 1 stone. But the hold successful her assignment canceled that program too. As my sources say, “October is present acold excessively removed from July for specified a reception.” So—we wait.

Ivan’s defense…
-Let’s determination present to the market—or rather, its backstage—starting with Thessaloniki Port Authority. A well-informed root said the Americans person greatly reduced, astir eliminated, their involvement successful Thessaloniki’s larboard and person shifted their absorption to the Chinese successful Piraeus, arsenic we precocious reported. According to the aforesaid source, the Americans recognize that adjacent if, by immoderate miracle, Savvidis withdrew, Thessaloniki’s larboard would spell to the French, who contiguous are the second-largest shareholder aft Ivan. After all, successful the marketplace they accidental Savvidis believes that down the involvement shown by the Dreyfus family, with their nationalist connection for Thessaloniki’s port, were the French, with whom they person fantabulous relations. Savvidis organized his defence with affable forces that bought shares of the larboard authority, prices went up significantly, helium himself accrued further the shares helium controls, and it became wide that anyone funny would person to excavation precise heavy into their pockets. So, for now, successful Thessaloniki’s port, the concern remains arsenic is.

…and the caller “Macedonarch”
-For now, Ivan seems to beryllium holding his ground, though successful Thessaloniki the counterweight made its beingness felt. Though mostly a low-profile man, Telis Mistakidis lately seems to person changed strategy, showing that helium seeks to summation a foothold successful Northern Greece—to the constituent wherever immoderate assertion helium aims to go the caller “Macedonarch.” I find that an exaggeration, but connected the different manus the self-made billionaire is taking immoderate awesome steps. For example, he’s putting €20 cardinal into transforming the iconic Roosevelt gathering successful Eleftherias Square—one of Thessaloniki’s astir beauteous buildings—into a modern bureau building, which volition location his businesses. He has acquired different properties successful Thessaloniki (and beyond), portion since April 2024 helium owns 48% and controls 68% of Aegean Baltic Bank. All this of people is normal, tied to his business, but astatine the aforesaid clip he’s been making appearances astatine PAOK, raising unit connected Ivan, who was “forced” to travel retired of isolation and, aft years of absence, marque nationalist appearances sporting an awesome beard that adjacent the Patriarch would envy. Now he’s knocking connected the doorway of the club’s much “humble” section, the amateur division, and connection is helium whitethorn instrumentality implicit the hoops team. Some accidental this is the commencement of a program to yet instrumentality implicit PAOK entirely.

Maria Angelikousi and the shot rumors
-Maria Angelikousi recovered herself successful the spotlight for 2 reasons. The archetypal has to bash with nonrecreational shot successful Greece, since it was rumored and written that she is entering Panathinaikos FC. As soon arsenic that script circulated, I got a telephone from a accepted Greek shipowner who erstwhile had ties with the athletics and was a precise bully person of Yannis Angelikousis, Maria’s father. He told me: “With the precocious Ioannis Angelikousis we adjacent went to Olympiacos’ distant European games. I retrieve the lucifer with Celtic successful 1974 erstwhile we adjacent drew. We went together. Leaving to drawback the bid backmost to London due to the fact that the adjacent time we had enactment astatine our companies’ offices, Celtic fans heard america speaking Greek and cornered america successful an alley. We got an earful, but thankfully that was all,” and helium continued: “Maria grew up successful a profoundly Olympiacos family. Now, if thing changed on the way, I don’t know….” Anyway, anyone who asks executives of the radical astir the substance gets a grin successful return.

Maria versus Melina
-Meanwhile, down the scenes of planetary shipping, Maria Angelikousi is emerging arsenic a cardinal fig of resistance-reaction against the caller model of the International Maritime Organization (IMO) for zero greenhouse state emissions from ships. With her stamp, an archetypal radical of six Greek shipowners has evolved into an planetary conjugation of 1,200 vessels, with heavyweights from Norway, Korea, and Saudi Arabia. She promotes LNG arsenic an alternate fuel, which she believes is simply a “realistic bridge” connected the roadworthy to greenish transition, contrary to biology voices that spot it arsenic a dormant extremity since it’s fossil-based and simply emits 30%-40% less. In Athens, whispers accidental the Angelikousi determination shows the value of Greek shipping wrong the IMO. The Greeks’ presumption does not bespeak that of the Union of Greek Shipowners, chaired by Melina Travlos, who sides with the IMO connected the logic that it’s planetary authorities combating fragmentation from determination regulations, which make superior problems successful shipping’s regular operations.

Commission connected alert implicit the cable: New teleconference
-The derailment of the Great Sea Interconnector continues to origin beardown interest successful Brussels, with the Commission convening a caller teleconference with ADMIE, RAAEY, and the Cypriot Energy Regulatory Authority successful a last-ditch effort to interruption the deadlock implicit the €25 cardinal that Nicosia refuses to pay. This foot-dragging not lone blocks the project’s timeline but besides deepens uncertainty for France’s Nexans, which has undertaken operation of the cable, arsenic payments person been frozen and the menace of enactment suspension is present existent if regulated gross is not instantly secured. Despite authorities optimism that the situation tin ease, Cyprus’ stance fuels worry, with Energy Minister Giorgos Papanastasiou successful caller days leaving unfastened for the archetypal clip the anticipation of “freezing” the Crete–Cyprus link, stressing that Israel is earnestly considering adjacent a nonstop transportation lone with Cyprus if it is not portion of a wider network. Against this backdrop, the upcoming gathering of Prime Minister Kyriakos Mitsotakis with Tayyip Erdoğan successful New York takes connected large significance, arsenic it is expected to code the large vigor and geopolitical projects successful the region—projects that are short-circuited acknowledgment to Turkey’s interference.

“White Knight” for N. Kioleides company?
-The institution “N. Kioleides” is simply a conveyance assemblage shaper successful Greece, based successful Kifisia. It maintains 2 plants, 1 successful Athens and 1 successful Volos, with a theoretical output of 2,000 vehicles per year. The older procreation whitethorn retrieve that “N. Kioleides S.A.” was the licensed shaper of MAN buses successful Greece and has built vehicles for the Hellenic Army, definite OSE bid lines, arsenic good arsenic for large companies similar FAGE, Aktor, TITAN, Heracles Cement, and METKA. In caller years, the institution has been going done a terrible endurance crisis, with large problems successful gathering obligations, strikes by unpaid workers, etc. However, Europe’s caller epoch of “militaristic Keynesianism” seems to make a model of accidental for “N. Kioleides.” It is precise apt that a listed radical volition look arsenic a “White Knight” for the company, acquiring it successful bid to enactment successful assorted defence programs of Greece and Europe. Awaiting authoritative announcements…

GEK TERNA bond: With a competitory complaint versus the Greek 7-year
-The involvement complaint of GEK TERNA’s bond, to beryllium announced contiguous earlier the marketplace opens, volition beryllium highly competitive. What does “highly competitive” mean? At the moment, the Greek 7-year authorities enslaved yields astir 2.90%. So, a instrumentality supra 3% is considered much than attractive. According to analysts, the issuance—through which GEK TERNA seeks to rise €500 million—is tied to the revenues of the company’s concession projects. And arsenic is good known, concessions are projects-services that guarantee dependable and recurring gross streams. At slightest 30% of the enslaved contented volition spell to backstage investors, portion the remaining up to 70% volition beryllium allocated to a premix of backstage and organization investors.

Rebalancing favored Bank of Cyprus
-Rebalancing successful the FTSE Russell and Stoxx indices dominated the past Athens banal marketplace session, pushing regular trading measurement to €464 million. Bank of Cyprus had the highest turnover with €122.55 million, portion besides posting a beardown emergence of 2.7%, closing astatine €7.7—close to its historical precocious of €7.9. The slope banal benefited from its inclusion successful the FTSE Emerging Europe Large Cap index. Due to the reshuffling, trading was besides precocious for systemic banks, with National Bank of Greece astatine €67.08 million, Alpha Bank astatine €44.52 million, Eurobank astatine €34.15 million, and Piraeus astatine €29.48 million, with Eurobank present included successful the Stoxx Emerging Europe Large Cap. They were followed by Metlen with €22.06 cardinal and OPAP with €21.87 million.

New highs for Aktor and the Viohalco group
-Beyond the ample trading volumes, we besides had caller records successful Friday’s session. Aktor cemented its presumption supra €8 and made a decisive “step” towards €8.2, a terms marking an 18-year high. Specifically, it closed astatine €8.18, reaching €8.19 intraday highs, portion the adjacent levels are those unseen since aboriginal August 2007. Viohalco radical shares proceed to “sail” uncharted waters. The genitor institution recorded its seventh consecutive rise, broke done the €7 barrier, and closed astatine the historical grounds of €7.12, reaching adjacent €7.18 intraday. Cenergy Holdings widened its historical record, surpassing €12 intraday for the archetypal clip ever. CENER’s momentum led Eurobank Equities to rise its terms people for the banal to €14.1 from €12.7 previously. Another large victor was radical subordinate ElvalHalcor, riding the question of its inclusion successful the FTSE Emerging Europe Mid Cap. Its turnover roseate to €5.47 cardinal with implicit 1.8 cardinal shares traded, topping the large-cap committee with a leap of astir 5.8%. This pushed it up to €2.93, a 17-year record, with €3—unseen since January 2008—now the adjacent people for ELHA.

The “cursed” 39th week of the year
-Today begins the 39th week of the twelvemonth which, by some statistic and superstition, is considered “cursed” for Wall Street. It is historically the worst for the S&P 500: since 1990, the index’s mean play instrumentality is -0.6%. Traditionally, September is the worst period for stocks, with an mean instrumentality of -1.2% since 1928 and antagonistic returns successful 55% of months. Over the past 5 years, September has averaged a -4.2% drop. Already, 2025 has not started well. In the archetypal 73 trading days, the S&P 500 fell -10.2% owed to tariff threats. The marketplace past recovered, but volatility has been a hallmark of the year. Many times, this statistic works arsenic a self-fulfilling prophecy, since investors’ antagonistic expectations pb them to liquidate holdings to fastener successful profits.

When markets judge successful some exertion and gold
-The world’s largest golden ETF (SPDR Gold Shares) has reached a grounds $113 billion, doubling its assets nether absorption successful 2 years. Markets are investing trillions successful artificial intelligence, blockchain, and cryptocurrencies, portion astatine the aforesaid clip flocking en masse to the oldest “safe haven”—gold. This paradox reveals marketplace psychology: enthusiasm for the future, but fearfulness for the present. Gold traditionally rises erstwhile investors interest astir money’s purchasing power. The “AI Euphoria” has truthful acold boosted tech institution valuations by 593%. Every tech gyration brings existent progress, but besides excesses successful valuations. The simultaneous “flight to gold” shows that adjacent the astir optimistic investors support an “umbrella for the rain.”