A new order has just been circulated in the corridors of Maximus, I learn.
Who is she? Every new bill will have a “cost-benefit” analysis.
Don’t get confused though. Politician costs. Not financial.
A lot of capital was spent…
What does “principal” mean?
That the government, and especially the prime minister, have used up much of their political capital so far and cost containment must be done.
And I’m talking in financial terms, because that’s how Maximos’ communication staff team sees it.
In practice this means that difficult files will not be opened, especially on the taxation and charge front.
Only what the prime minister said in Thessaloniki. Obviously each measure was aimed at a specific group.
“Subject” 1st
The one folder that won’t open is the objective values.
With commercial values rising and real estate prices running wild, one would naturally expect the property values to change as well.
Forget it… the political cost is high.
Because if commercial and objective values converge, the tax will increase, the cost of transfers will be burdened dramatically.
“Subject” 2nd
Nor will the tax scale of employees be indexed. Even if it costs politically…
And as I learn, it has been discussed, with the benefit to tax revenue being small.
So the cost is not worth incurring. There are other more targeted measures to employ.
It is a pan-European phenomenon
Of course, not to blame only the Greek government, the phenomenon is pan-European.
Hence the decision of the German government to carry out controls at its borders, in order to reduce the anger of the Germans about the immigrants… on whom the responsibility for the economic woes of the country and the whole of Europe falls.
Of course, no mention of the Draghi report. Even when Lagarde herself reminded her at her press conference yesterday. In fact, in the statement. So she had prepared the reminder… she wasn’t asked.
Much credit, but…
At ours now, the change in Maximos’ attitude has also been detected by foreign funds and they are waiting… This is what people in the capital market who have already assessed the climate in view of the placement of Ethniki convey to me.
That is why we also see this lull in the stock market, the first and easiest gateway for foreigners to the Greek economy.
epa03219311 (FILE) A file picture dated 13 July 2011 shows the Moody’s logo outside the offices of Moody’s Corporation in New York, New York, USA. According to media reports on 14 May 2012, ratings agency Moody’s have down graded 26 Italian banks which include UniCredit and Intesa Sanpaolo. The negative outlook is leading to a possible further downgrade with Moody’ sfurther stating that the step was taken because of the poor Italian economy. EPA/ANDREW GOMBERT *** Local Caption *** 00000403105018
They now refine the valuations and count the discount units, while also adding the dividends as other “accountants”.
As they tell me, not even Moody’s is likely to make a difference today, Friday the 13th, despite being the house that has not yet given our country the legendary “investment grade”.
They are missing from the real economy
After all, in addition to the stock market, outsiders also see qualitative data.
And the government has no answer to this.
That is, how is it possible to be in a positive environment, with higher growth compared to other European countries, and that a foreign bank has not come to Greece.
Don’t tell me about Unicredit, because it is known that they took a stake in Alpha Bank with their motive clearly being Romania.
What jobs?
And don’t pretend that data centers are an investment. Essentially, they are warehouses with gigantic machines that are not even produced in Greece and “eat” energy.
And all they can offer are some positions of engineers and technicians, or some guards.
They are good too, I know, but what I don’t know are the productivity points they offer in an economy whose competitiveness is in tatters.
KEPE also rang the bell yesterday about the trade deficit.
The government ran
Of course, the government “rushed” to speed up the building permits for Microsoft’s data centers in Mesogeia.
I put “ran” in quotation marks, because it took almost 4 years of paperwork to get the permits.
So in the last quarter it ran to become the first data center in Spata.
This, along with two others in Koropi promise to create 100 new jobs immediately and 300 in a ten-year horizon…
As the cartoons used to say… “without words”.
Attiki Odos
A concession tender was closed quickly according to the public data. The reason for Attiki Odos, which GEK TERNA undertakes to operate and manage.
The concession contract was signed yesterday and as TAIPED CEO Dimitris Politis had emphasized at the OT FORUM at the 88th TEF, it is the first time that a concession holder succeeds the next…
And at what price…
GEK TERNA gave almost 3.3 billion euros, an unprecedented amount in a concession tender in Greece, as pointed out by the Minister of National Economy and Finance.
George Peristeris
If nothing else, the claim and acceptance of yet another major concession by GEK TERNA (Egnatia Odos, BOAK, Kastelli, Integrated Tourist Complex in Elliniko, etc.) is due to the strategy drawn up and implemented by the major shareholder and president and CEO of the group, George Peristeris.
At least this is what they are commenting once again on the market, characterizing him as a “meter of concessions…”
Attiki Odos as well as the aforementioned concessions won by GEK TERNA offer multiplier value both to the national economy and to the shareholders of the listed company.
The 3.3 billion
The 3.3 billion euros paid to TAIPED by GEK TERNA reduce the public debt by 1.5 units of GDP.
And not only. The concessionaire, who undertakes for 25 years the financing, operation, maintenance and exploitation of the Attica Highway, in addition to the one-off financial consideration, will annually pay to TAIPED a percentage amounting to 7.5% of all types of revenues from the operation of the highway , while further investments and costs of upgrades and modernization of 380 million euros are foreseen for the entire duration of the concession.
Benefits
And of course the Greek government wins, as all the above shows, while drivers will also enjoy a reduced toll price for five years.
From 2.80 to 2.50 euros.
However, the shareholders of GEK TERNA also benefit. It is a low-risk project with a large surplus value as the highway of Attica shows particular resilience in any condition and economic environment.
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