Maximus’ “conclave”, Liargova’s “question”, Motor Oil prepares for “answers”, Millenium’s bet, Coca Cola’s moves in Romania – Economic Post – 2024-08-31 02:04:41

The staff of the… staff

Numb I learn is the government staff in view of the TIF. So it’s in the… dark.

They know neither the policy directions nor the measures that will be announced. It is a “secret”… Of Maximos.

That is, of Maximos’s inner circle, of his staff… staff. Who asked to have only the critical fronts of each ministry (up to 6!), in view of TIF, without these being accompanied by recommendations for the measures being prepared.

That is why the “silence” of many ministers, who do not know what to communicate, at a time when the climate for the government is negative and the messages of the latest opinion polls are gloomy.

Enterprise “North Greece”

That is why the prime minister has taken upon himself the issue of “Northern Greece”. That is where it has the most leaks.

Since yesterday that he has been in the co-capital, he has been promoting the projects, with the Metro naturally being the focus.

It is certainly not long after the tarpaulins and the stations without wires that it finally opens its operation on November 30.

Of St. Andreas, emphasized the prime minister, winking at the most religious audience of Thessaloniki…

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Heavy echo

And while the prime minister is announcing various things in Thessaloniki, in Athens it is heard… “achos barys”.

I think that the president of KEPE, Professor Panagiotis Liargovas, has “lent” his photo to the “targets” that exist in and around the Maximos Palace. And they have been “marking” him since the day before yesterday.

Of course, the fact that he himself is on vacation is probably good for him, because he avoided them – maybe? – unwanted encounters.

He was sought after by the world and the world. And then they started throwing him… “darts”!

With a delay

The reason is simple. Last July, around the 20th of the month, the KEPE’s electronic magazine “Economic Developments” was released, which hosted an article on “Relative position of the average hourly wage and the working poor in Greece” by the researcher Mr. Vlasis Missos.

There, therefore, it is stated, among others, that “Greece now appears as the second poorest country in the EU27, after Bulgaria, based on GDP per capita, measured in terms of common purchasing power”.

When the magazine was published, it seems that no one noticed.

A few days ago, however, opposition parties and journalists found it – everything is finally learned! – they “picked it up” and it was a disaster.

One after another

The Minister of National Economy and Finance was the first to react with a lengthy statement, emphasizing mainly the achievements of the last five years. Justifiably!

Then the baton was taken by the Minister of State – the panth’ora – Mr. Akis Skertsos who “set” with “fire at will”.

And rightly so, because we left the “Thomsen vision” in the past.

Now we are in the season of bliss! He cannot open the issue of impoverishment a few days before the Prime Minister’s ascension to the TIF.

And well it opened, how will it close?

Come on! That’s why Mr. Skertsos became furious.

A right to recognize him!

Mr. Makis Voridis

Of course, another Cappadocian – or in other words, the rival awe of Megaros Maximos, who holds the “right boots” – the also Minister of State, Mr. Makis Voridis, could not fail to react.

He appeared yesterday morning on the TV station SKAI. And he said and what he didn’t say, neither more nor less, that we are “catching” the Germans on the minimum wage.

Ok, he didn’t say it exactly like that but that was the point.

Mr. Panagiotis Liargovas

However, the professor of the Department of Economics at the University of Peloponnese told me he was surprised at the reactions “this was published in July, why now?”.

And he added that “as we should, we highlighted a social-economic problem, it is the State’s duty to deal with it.

And in any case we recognize what the government has achieved in the last five years”.

However, he seems to recall with nostalgia the time when he was the head of the Budget Office of the Parliament and collaborated with Messrs. Yiannis Stournaras and Gikas Hardouvelis.

But it passed forever. And fortunately…

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And other fronts further… south

Of course, the fronts are not exhausted in Athens, but we also have one even further south, that is, in the southeast of Greece, where the climate has electrified… dangerously.

The Great Sea Interconnector project, which has also received funding of more than 600 million euros from the EU, seems to be headed for… wreck.

CERA’s insistence on not revising its previous decision is short-circuiting the grandiose project of the electrical interconnection of Cyprus with Greece and the EU. and the lifting of its energy isolation.

And that’s not all, because those who benefit from the wreck of the project are known.

And the solution seems to be clearly in the hands of the leaders of the two states, Kyriakos Mitsotakis and Nikos Christodoulidis.

Motor Oil is preparing for “answers”.

We expect the Motor Oil management to send its own response today.

In the afternoon it will announce the results of the second quarter of the year, while tomorrow the management has a teleconference with the analysts.

A two-day… answers, comments my source from the market.

Answers “hits”

The truth is that it was not an easy summer for the listed company.

First came the extraordinary tax on refineries from the government and then came the exit from MSCI’s Standard Greece.

In fact, Friday will be the last day of its presence in the index and from Monday it will be in the Mid Cap.

The result was not good for the stock. Where he saw 30 euros in May, today he is trying to get back to 22 euros.

Millenium also found an opportunity

The turmoil also brought the “shorties”. And more specifically Millenium International, which appeared with an open position in the stock.

At 0.87%, based on the latest update, with the fund betting on pressures on the stock during the day of large outflows, due to rebalancing, on Friday.

After all, he had done it again exactly one year before with TERNA Energy (for the same reason)… then closing the position arron aron dubious profits in the bet…

What will the “hotelier” say

I’m not against open positions, nor should anyone be. After all, the important thing in a market is the different positions taken by the participants and this is the “soul” of trading.

But what the market sees is that management will not leave the stock unsupported.

Fundamental support, that is, which is not limited to just absorbing any offer that comes out.

That’s why we’ll be interested to hear what he tells analysts and if it’s confirmed we’ll see a jump in adjusted EBITDA for the group.

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What is happening to Coca Cola in Romania?

Change of baton in the leadership of Coca Cola HBC in Romania. The multinational soft drink group has announced the appointment of a new general manager at its subsidiary in the Balkan country.

Thus, Cornel Caramizaru will succeed Jovan Radosavljevic, who has decided to make a… turn in his career and jump to another professional branch after 26 years in the… Coca Cola system.

During his career, Jovan Radosavljevic has been called upon to manage the impact of the pandemic which has been a demanding challenge for all CEOs around the world.

Of course, some “bad guys” in the market do not rule out the possibility that his departure after 6 years is connected to the company’s low performance in the Romanian market.

They cited the multinational group’s results in the second quarter, where the local subsidiary saw a decline in sales volume.

You say?