The address, the favors, the hostage situation, the Mimis doctrine: “Go to court,” the shouts and whispers of the blue parliamentary group, Alpha Trust was sold

Hello and person a bully Holy Week, though the upwind seems to beryllium spoiling things a spot with temperatures and oversea conditions, though thing is certain—we’ll person a clearer representation from tomorrow. Let’s present determination connected to the superior issues, namely the judicial entanglements, starting with the astir important one… that of Ioanna Touni, who was enactment successful custody, adjacent if lone for a fewer hours, due to the fact that she was filming (poor thing) successful a store the antheral who had made revenge porn astir her! And truthful it is proven that successful this state you tin ne'er beryllium definite what awaits you the adjacent day. Let’s present determination to different judicial-political escapade we’ve been experiencing since past week with OPEKEPE2, which was sent to america by the European Public Prosecutor’s Office. So, a fewer observations from what we person work truthful far:

Clientelism and the “Mimis Papangelopoulos doctrine”

A. From the nonstop dialogues and references to politicians, determination is not adjacent a hint—nor from the judges who compiled the lawsuit file—that immoderate person was taking wealth for themselves. Yes, they were asking for favors, administrative deviations successful immoderate cases illegally, successful others not, connected behalf of their farmer-voters, but not for idiosyncratic fiscal gain. Political gain, yes, since MPs from agrarian areas are involved, mediating with the caput of OPEKEPE for clients-voters—Serres, Larissa, Trikala, etc. B. The judicial authoritative who drafted the lawsuit record powerfully recalls the logic of the precocious Mimis Papangelopoulos: “take a prosecution and spell to tribunal to find your justice.” Most cases impact telephone calls (and emails) requesting favors of the benignant that nary MP successful the past of the Greek parliament has failed to marque since the constitution of the Greek state, particularly erstwhile they are portion of the government. Let’s not unreal ignorance oregon innocence astir this—not lone PASOK members who governed with specified dealings for 20 years, but particularly the aged right-wingers who “invented” the party-state arsenic spoils. The Karamanlis family, inactive immersed successful favors adjacent today; the Pavlopoulos circle, who appointed astir 250,000 enactment affiliates during the “K.K. Rafina” government; and Samaras, who until helium fell retired with Mitsotakis was calling the Maximos Mansion and ND ministers asking for a favour a day. I’m not saying that these conversations astir favors are due for a 2026 government, nor bash I contradict that immoderate whitethorn person transgression dimensions. But determination isn’t a azygous ineligible adept who has work them and doesn’t accidental that, astatine most, 1 oregon 2 cases mightiness warrant prosecution among the 20 MPs mentioned.

Government nether hostage?

C. Another magnitude of the contented is the maneuver followed by the European Public Prosecutor’s Office since past summer, which astir seems deliberate successful trying to destabilize a government. Granted, determination are method issues with transcriptions, statutes of limitations, and substantiation of offenses, but bash they truly not recognize what is happening with this approach? Don’t they recognize that this drip-by-drip method is shaking a authorities and interfering successful the governmental beingness of a subordinate state? What would person happened if, alternatively of this piecemeal approach, they had sent everything astatine erstwhile truthful everyone would cognize what lies ahead?

Case files successful installments

In immoderate case, if the authorities is anxious, the European Public Prosecutor’s Office volition nonstop much volumes successful the coming period. For example, it is rumored that successful May OPEKEPE3 volition arrive, including 5–6 much MPs—hence the preemptive removal of Deputy Minister Kellas from Larissa during the reshuffle.

Maximos Mansion: each wrong…

Finally, let’s crook to those responsible, connected whom this— successful my opinion—completely incorrect handling of the lawsuit since past summer’s archetypal installment (OPEKEPE1) volition fall. Let’s callback a much superior caller case, that of Tempi. About 13 months ago, Mitsotakis hastily gave an interrogation (to Sroiter) successful which helium astir accepted rumors that the EDOASAM study (a committee-parody for the tragic accident) claimed determination was amerciable xylene successful the bid wagons, causing an detonation that killed people. The authorities past entered a immense tailspin—simply put, it was connected the verge of collapse. The Maximos Mansion, arsenic it turned out, intelligibly had incorrect accusation oregon appraisal and believed thing that did not beryllium and was fabricated by Zoitsa, President Maria, and their circle, who are determined to bring down Mitsotakis. Proof came 3 months aboriginal erstwhile a video showed that the wagons supposedly afloat of amerciable xylene were empty—and this was evident since they were unfastened wagons, similar flatbeds. Before that video, each this grounds already existed successful the lawsuit record successful the signifier of photographs. When the mishap occurred, constabulary officers successful the beingness of a authoritative photographed everything and included it successful the Tempi file, arsenic expected. Yet nary 1 told the Prime Minister the obvious, nary 1 informed him truthful helium wouldn’t publically judge mendacious theories. So, without comparing the Tempi xylene lawsuit with the existent OPEKEPE case, I judge the handling present is besides amateurish, and it’s not close to lump unneurotic fractional your parliamentary radical due to the fact that they made calls to service their voters—even if improperly. A favor-seeker is not the aforesaid arsenic a thief.

The address

Mitsotakis has spoken with galore radical these days and heard galore things. I’m told helium has successful caput to signifier a governmental framework, arsenic helium indispensable contiguous a communicative some to citizens and to ND members who are being attacked successful TV panels and successful section communities. I recognize helium won’t denote immoderate tangible inaugural but volition alternatively item the reforms successful the heavy authorities carried retired successful caller years and outline aboriginal goals. After all, the docket of the adjacent elections volition see specified reforms, similar placing OPEKEPE nether AADE, which hasn’t yet been implemented since nary applications oregon payments person been made this year.

Hatzidakis–Maximos

Yesterday connected SKAI, Hatzidakis made a meaningful favoritism betwixt cases of MPs included successful the file, logically noting that, for example, the lawsuit of Tsiaras with a €190 irrigation transmission and Vartzopoulos sending a substance asking if thing tin beryllium done is not the aforesaid arsenic idiosyncratic accused of a felony. Marinakis had said thing akin connected Saturday, stressing that determination should beryllium nary witch hunt. However, the Maximos Mansion was reportedly acrophobic by Hatzidakis’s remarks, with a root saying “this is not our line,” adding that Marinakis has stated immunity volition beryllium lifted for all.

The trap with lifting immunity

Speaking of ND MPs, many—especially those with alternatively trivial cases successful the file—are acrophobic aft seeing the European Public Prosecutor’s approach. Consulting their ineligible advisors, they recognize the hazard that aft their immunity is lifted post-Easter, the Prosecutor whitethorn not telephone them for grounds but proceed straight with prosecution, adjacent for misdemeanors. They would past person to spell into elections with charges hanging implicit them, though the Maximos Mansion is reassuring that, for the overwhelming majority, determination volition beryllium nary contented with campaigner lists. Nevertheless, determination are whispers that galore MPs are considering not supporting the lifting of immunity for colleagues they judge person done thing incorrect and simply conveyed requests, arsenic immoderate of them would.

Meeting connected concern vigor costs

Today astatine the Ministry of Energy, Papastavrou, Theodorikakos, and Theodoropoulos volition conscionable to sermon measures to trim concern vigor costs and enactment investments for vigor upgrades.

Alpha Trust: the market’s caller deal

Moving to marketplace news, we commencement with an absorbing improvement concerning the “holy grail” of plus management, Alpha Trust, which had been nether siege from imaginable buyers. Who precocious published preliminary fiscal statements? Alpha Trust. Why are specified statements usually published? To extremity the closed play during which large shareholders and absorption cannot merchantability shares. Phaedon Tambakakis had been discussing Alpha Trust but not selling; present helium has changed people and is selling without discussion.

New hold for the Olympic Equestrian Center

The Hellenic Corporation of Assets and Participations has granted a 3rd hold to the timeline for the caller tender to make the Olympic Equestrian Center successful Markopoulo, Attica. The erstwhile hold was successful mid-March, the archetypal successful aboriginal February. Originally, bids were owed connected March 27, 2026, but aft the extensions, the deadline is present June 30, 2026. According to the tender terms, improvement volition instrumentality spot done granting aboveground rights implicit the spot for 99 years. A erstwhile tender was canceled (as successful 2014) aft objections, including from the Hellenic Equestrian Federation, and the Council of State did not o.k. the improvement plan. The program included turning it into a taxable park, preserving equestrian sports successful portion of the country portion processing sports, mild commercial, and tourism activities elsewhere. Built for the Olympic Games, the halfway occupies a monolithic 1,000 stremmas (about 100 hectares), apt owed to the… immense popularity of the athletics successful Greece, but has since mostly fallen into disrepair. About 600 stremmas are exploitable for investors and see aggregate arenas, stables, offices, parking areas, and adjacent a helipad.

Central slope losses and Bank of Greece dividend

While large cardinal banks worldwide are reporting billions successful losses, the Bank of Greece is holding its 93rd Annual General Meeting with a affirmative effect and dividend for its main shareholder, the Greek state. The U.S. Federal Reserve’s cumulative losses scope $245 billion, mostly owed to paying precocious involvement connected reserves portion holding low-yield bonds bought during zero-rate periods. The aforesaid applies successful Frankfurt: the ECB recorded losses of €1.254 cardinal for 2025, reduced from €7.944 cardinal successful 2024 owed to little nett involvement expenses, but inactive the 3rd consecutive twelvemonth of losses, truthful nary nett organisation to eurozone cardinal banks. The Bank of Greece, however, is successful a antithetic position. Net income for 2025 reached €880.8 cardinal (up from €436 million), with profits astatine €257.7 million. The wide assembly is expected to o.k. a dividend of €0.6720 per stock and a transportation of €244.4 cardinal to the Greek state. Public assemblage deposits earned €353.4 cardinal successful interest, bringing full payment to implicit €600 million. The Bank of Greece did not instrumentality large-scale enslaved acquisition programs, frankincense avoiding the dense load of low-interest indebtedness present affecting different cardinal banks. Its reserves reached €21.3 cardinal astatine the extremity of 2025, up from €15.8 cardinal a twelvemonth earlier.

The waters that came and the asterisks connected the half-billion project

The torrential rains of caller days person near down a beardown impact. On the 1 hand, they caused superior harm and, unfortunately, nonaccomplishment of quality life, highlighting the strength of the phenomena. On the different hand, they proved lifesaving for 1 of the astir pressing issues of the Attica basin: h2o scarcity. EYDAP’s reservoirs were importantly reinforced, arsenic astir 90 cardinal cubic meters of h2o were added compared to past year’s mediocre April, of which much than 20 cardinal entered the “tanks” successful conscionable the past week—a invaluable enactment for the country’s largest municipality area. Nevertheless, experts stay cautious. As they constituent out, a impermanent betterment is not capable to awesome the extremity of the alarm, since the sufficiency of h2o resources tin lone beryllium ensured if rainfall is sustained and consistent. One concern, therefore, is the continuation of these invaluable rains. The different concerns EYDAP’s projects. People with nonstop cognition of developments spot respective “asterisks” astir the large half-billion-euro concern announced past year, erstwhile the state was experiencing the “torture of the drop.” This is the “Evrytos” project, the large paper for Attica’s h2o supply, which is already facing resistance. The transportation of the Karpenisiotis and Krikelopotamos rivers to the Evinos reservoir is planned done 2 successive tunnels, 14 and 6 kilometers agelong respectively, with a diameter of 4 meters and a travel capableness reaching 27 cubic meters per second. The tunnels are designed astatine specified an altitude that they gully h2o lone erstwhile stream levels emergence owed to rainfall, frankincense ensuring the indispensable ecological flow. Once completed, the task is estimated to unafraid up to 200 cardinal cubic meters of h2o annually, an magnitude that could alteration the scenery for Attica’s h2o supply. However, section communities bash not presumption the task favorably—and this is acold from unnoticed. Municipalities specified arsenic Karpenisi and Agrafa, on with productive bodies, are already informing of biology load and superior impacts connected the section system and development. These objections, concerning the partial diversion and transportation of h2o from the Karpenisiotis and Krikelopotamos to the Evinos, are shaping a struggle script expected to intensify arsenic the task moves toward implementation. In this context, officials with cognition of developments estimation that specified a task is improbable to proceed earlier the elections. Thus, portion quality has provided a invaluable boost to h2o reserves, the large situation of Attica’s h2o proviso remains unfastened and intimately tied to governmental balances, societal reactions, and captious decisions for the future.

The profits of Metropolitan College

Metropolitan College / Alphabet Education—part of BC Partners’ portfolio—aims to fortify its position, besides done synergies with Keele University (which past twelvemonth became the archetypal nationalist British assemblage to person authoritative operating support successful Athens nether the model for non-state universities). For the fiscal twelvemonth 1/7/2024–30/06/2025, the institution recorded turnover of €54.27 cardinal and post-tax profits of €12.97 million, which are not comparable to the instantly preceding play (1/1/2024–30/6/2024), arsenic that was a shortened fiscal twelvemonth pursuing alignment with the world calendar. For the existent year, management—with Konstantinos Rodopoulos arsenic president and Christina Paraskevopoulou arsenic CEO—estimates “particularly affirmative prospects,” expecting important gross maturation driven by accrued request for its acquisition programs. Further contributions are expected from the instauration of caller postgraduate programs, synergies with Keele University of Greece NPPE, and enlargement done attracting planetary students. Last twelvemonth already saw further maturation successful the fig of progressive students compared to the erstwhile world period, and the aforesaid has occurred this year. It is recalled that successful 2025 Metropolitan College established its subsidiary Keele University of Greece NPPE, with 100% participation, which received an operating licence successful August 2025 from the Ministry of Education nether the model governing non-state universities.

Genco’s counterattack and disapproval of Diana implicit anemic returns

The clash betwixt Genco Shipping & Trading and Diana Shipping, owned by Semiramis Paliou, is not conscionable different shipping dispute. It resembles a classical Wall Street power conflict successful purely fiscal terms. Genco is playing its strongest card: performance. With a 213% full shareholder instrumentality implicit 5 years versus 37% for Diana and 75% for the S&P 500, its antiaircraft enactment is clear: “If it works, don’t alteration it.” On the different side, Diana is attempting an assertive takeover astatine a terms that Genco’s absorption considers inadequate. Two rejected offers, the latest astatine $23.50 per share, suggest unit alternatively than negotiation. The existent stake, however, is not the terms but the model. Genco has built a communicative of debased leverage and precocious dividends—a illustration rewarded by Wall Street successful uncertain times. The informing that a alteration successful absorption could erode this strategy translates simply into hazard to yield. Behind the scenes, Diana’s accusation of “entrenchment” is emblematic successful proxy fights. But Genco’s effect shifts the battleground: it’s not astir positions, but astir superior returns—and successful that field, numbers service arsenic defense. The conflict is present moving into a purely organization arena: who tin person shareholders they tin amended negociate the aforesaid plus base.

The representation and substance of Greek shipbuilding activity

Questions originate astir however immoderate larboard operators look to construe things otherwise successful practice. Market insiders wonderment however beardown concern enactment and profitability successful Greece align with the prime to procure tugboats from abroad, specifically from Turkey. Some adjacent reason that, astatine the aforesaid time, a Greek-origin representation is being projected. Meanwhile, Onex’s inaugural to proceed with a home tugboat-building programme shows that an alternate attack exists. The question, therefore, arises: are these simply antithetic strategical choices, oregon a contradiction that yet affects some the representation and substance of Greek shipbuilding activity? The tensions look apt to intensify down the scenes of the revival of Greece’s shipbuilding industry.

How Greeks connected Wall Street physique spot with investors

At Costamare Inc. and Safe Bulkers Inc., the connection from crossed the Atlantic is clear: Greek shipowners progressive connected Wall Street cognize that capitalist spot is built with cash—and supra all, consistency. Among New York analysts, Costamare, owned by Kostis Konstantakopoulos, has agelong been considered 1 of the astir “disciplined” dividend stories successful shipping. Its latest announcement amazed nary one; connected the contrary, it confirmed that the institution continues to run with predictability, repeatability, and precedence connected shareholder returns. In a instrumentality marketplace that has seen beardown fluctuations aft the pandemic, the awesome it sends is that it has the visibility needed to enactment its currency flows. Meanwhile, Safe Bulkers, owned by Polys V. Hadjiioannou, operates successful the much cyclical and often much volatile adust bulk environment. However, maintaining dividends connected preferred shares shows management’s volition to “lock in” an capitalist basal seeking unchangeable income, adjacent erstwhile freight rates are not astatine their best. In Wall Street terms, this is an effort to equilibrium risk: higher volatility successful the underlying business, but stableness successful superior returns.

Pappas reads the Middle East representation differently

At Star Bulk Carriers, owned by Petros Pappas, it seems they person begun speechmaking Middle East maps differently—not nautical ones, but geopolitical ones. The transition of a 2nd vas done the Strait of Hormuz did not spell unnoticed by Wall Street analysts. Not due to the fact that it was an operational feat, but because, arsenic they softly say, “someone made a telephone earlier raising anchor.” At a clip erstwhile the Strait of Hormuz functions much arsenic a geopolitical filter than a elemental oversea route, specified moves are not made without coordination. The Stardust whitethorn beryllium conscionable different Kamsarmax successful the company’s fleet, but it indicates that Tehran is not acting nether a broad deterrence approach. On 1 hand, Iran leaves tiny windows of normality successful a captious vigor artery; connected the other, companies similar Star Bulk cautiously trial the limits of this “controlled tolerance.”

A windy Sunday

Yesterday, Sunday morning, wintertime near down a tiny record. The wholesale energy terms astatine the Hellenic Energy Exchange (ENEX) dropped to historical lows, €31.18 per megawatt-hour. During the night, beardown winds boosted upwind workplace output significantly. Demand, typically debased connected a Sunday—with manufacture idle and businesses closed—created a surplus of production, which, combined with debased demand, led to a melodramatic terms driblet (from €70.29/MWh connected Saturday and €129/MWh connected Friday). If Greece inactive relied connected lignite—the aged exemplary immoderate nostalgically recall—the terms would beryllium astir €150/MWh. However, determination is besides a origin explaining wherefore specified prices are not imperishable for Greek consumers: Greece’s interconnection with energy-intensive neighbors (Bulgaria, Romania, Italy), which sorb excess Greek accumulation but, during periods of precocious demand, export costly vigor back. This is simply a structural contented of the European grid for countries surrounded by energy-intensive industries. A contrasting illustration is Spain, which, with mild interconnections and a ample upwind and star base, consistently records little wholesale prices annually than Greece. For Greece, it is an urgent precedence for vigor retention to present quickly—batteries that volition store the nighttime upwind to powerfulness the system connected Monday morning.

Greek robotics shows its strength

Three days of “open house,” instrumentality worthy €10 cardinal successful afloat operation. Automation successful manufacture is simply a one-way street. In a fewer days, Gizelis Robotics volition unfastened the doors of its facilities successful Schimatari, Boeotia, for a three-day Open House Exhibition dedicated exclusively to the aboriginal of expanse metallic processing. The institution is the newest subordinate of the Gizelis SA group, 1 of the oldest manufacturers of expanse metallic processing machinery successful the world, with exports exceeding 80% of its accumulation to 55 countries. It has evolved into the largest robotics systems integrator successful Greece. It employs 140 highly skilled workers and is increasing astatine a complaint of 40% for 2026. Every operation bears the signature “made successful Hellas.EU,” which differentiates it successful a marketplace dominated by Asian and Central European companies. At the Open House, hundreds of visitors—industrialists, entrepreneurs, academics from universities, polytechnics, and method schools, arsenic good arsenic politicians—will ticker unrecorded demonstrations of the Robobend strategy for robotic bending and welding, arsenic good arsenic offline programming bundle applications. E. Gizelis says that companies implementing integer accumulation translation tin execute up to +50% further instrumentality operating time, astatine slightest -10% little attraction costs, and +30% betterment successful accumulation quality.

Stagflation: the “stag” is the astir unsafe part

In astir 2 weeks, connected April 29, the Governing Council of the European Central Bank volition conscionable nether antithetic pressure. At its past gathering successful March, the ECB sharply revised upward its ostentation forecast for 2026 to 2.6% from 1.9%, portion lowering the eurozone maturation forecast to +0.9%. This combination—higher inflation, little growth—has already enactment connected the array the connection nary cardinal banker wants to utter: stagflation. In their charts, cardinal bankers spot the proviso curve shifting near and upward. Prices emergence portion output is squeezed. This script does not lucifer erstwhile demand-driven ostentation shocks, specified arsenic the post-pandemic overheating of 2021–2022. A imaginable summation successful euro involvement rates cannot “cure” lipid shortages and the “supply shock.” Nevertheless, Barclays and JP Morgan foretell up to 3 involvement complaint hikes by the ECB this year, with the archetypal perchance connected April 29, portion markets terms an 88% probability of an increase. On the different broadside of the Atlantic, Powell has rejected the word “stagflation,” keeping unfastened the anticipation of lone 1 complaint chopped successful 2026, provided ostentation declines. Morgan Stanley insists the Fed volition proceed with cuts aft the summer, noting that the tightening of fiscal conditions already equates to an 80-basis-point complaint hike. On some sides, the occupation is not the “flation” but the “stag”—a trap with nary evident exit.

The alternate way for Saudi oil

A 1,200-kilometer pipeline, built successful the 1980s arsenic a “Plan B” for the worst-case scenario, is present astatine the halfway of the planetary vigor crisis. Saudi Arabia’s East-West Pipeline connects its lipid fields to the larboard of Yanbu connected the Red Sea. It is presently operating astatine afloat capacity, astir 7 cardinal barrels per day. Crude exports from Yanbu scope astir 5 cardinal barrels daily, portion different 2 cardinal provender Saudi refineries. Normally, 20 cardinal barrels per day—20% of planetary consumption—passed done the Strait of Hormuz. Saudi Arabia had prepared for decades for precisely this script and activated its program wrong hours of the archetypal attacks. The pipeline is simply a information valve but cannot regenerate the monolithic volumes that utilized to walk done Hormuz. Tankers loading astatine Yanbu indispensable transverse the Bab el-Mandeb Strait, a way exposed to threats from Yemen’s Houthi forces. Brent has risen astir 55% since precocious February, portion WTI closed astatine $111.54, marking its largest implicit regular summation since 2020. JP Morgan forecasts prices of $120–130 successful the adjacent term, with the hazard of exceeding $150 if the Strait of Hormuz remains closed until mid-May.

Nasdaq, Oracle, and the questioning of Artificial Intelligence

The Nasdaq scale has fallen -10.9% from its peak, moving beyond a elemental correction. Tech stocks are nether unit from Trump-era tariffs that proceed to make uncertainty successful proviso chains, arsenic good arsenic from doubts astir whether investments successful Artificial Intelligence volition yet present the expected returns. At the aforesaid time, Oracle’s 5-year CDS (Credit Default Swaps) person risen to grounds levels, 198.18 ground points, surpassing the erstwhile grounds of December 2008. The outgo of insuring against a imaginable Oracle default has quadrupled since mid-2025. With astir $120 cardinal successful bonds, Oracle is the largest non-bank issuer, and its CDS are among the astir actively traded successful the investment-grade market. In different words, Oracle’s CDS are not conscionable a stake against 1 company—they are besides the astir “liquid hedge” against the AI bubble arsenic a whole. In February alone, Oracle issued $25 cardinal successful bonds to concern infrastructure, bringing its full indebtedness to astir $120 billion. Today, markets are asking whether Artificial Intelligence volition ever make capable returns to warrant this avalanche of debt. In equity markets, stocks reply “yes.” Oracle’s CDS say, “we uncertainty it.”