The “red” ministers, Maximos dusts off tax exemptions, a shock wave in supermarkets, Louis Vuitton (?) will save Epilecto, the “revenge” of Alpha Bank, we will also have an AI factory – Economic Postman –

It may be that the problems of the opposition, official or not, it doesn’t matter as things have developed now, have overshadowed many malfunctions of the government, but don’t think that there is calm in Maximos either. It’s just not coming out yet. But not for long. Because as I learn there are two ministers who are in the “red”. That is, very close to either leaving their ministry, or moving to a non-… productive one. If you ask me which scenario is more prevalent, I would say the first one. One of them is even credited with the dissatisfaction of the citizens, since especially in the capital it has not managed to improve everyday life. Despite the announcements, it has been spent on supplies… missing!

The tax paper

Of course, there is also the “orange card” of Maximos, which he also has for other ministers, although the climate cannot yet be characterized as irreversibly negative for them. One of them is the Minister of Finance, who is burdened with the responsibility of subsistence allowances for the self-employed, which may have given a boost to tax revenues, but there has been attrition. That is why a race has begun to convince freelancers that “the presumptions will not remain forever” or how many taxes the New Democracy abolished.

The American “lesson”

As I also learn, the disapproval of the Democratic party in the USA has sounded the alarm in all the capitals of Europe. And Athens could not whistle indifferently. Because Americans, especially the middle class, taught a lesson in discontent. Do you remember where the last SYRIZA government that messed with the middle class was? So that’s what they fear.

They are dusting off tax breaks

That’s why a new file has been opened at the Ministry, which says… tax exemptions. Which ones can be applied, which ones can be reinforced and which ones can play communicatively. In other words… the card of pro-social politics is being played.

Are you telling him to get out…?

However, to stay on the subject of taxation, the Ministry of Finance’s intention to open up the complex issue of cryptocurrency taxation could not have come at a more appropriate time. Trump’s election to the US presidency has brought cryptocurrencies into the spotlight, naturally attracting the interest of all kinds of legal and illegal investors. Of course, the problems are big, as are the unanswered questions. And I don’t know how the 14-member team that was formed will get the hang of it. However, the group includes officials from the ministry, the president of the Capital Market Commission, bank and Bank of Greece officials, as well as officials from the Anti-Money Laundering Authority.

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Harbinger of developments?

A shock wave of developments and reorganizations is expected to be caused in the coming period in the Cypriot market, after the completion of the acquisition of the Papantoni supermarket chain by the Sklavenitis group. Expected! When the largest Greek retailer decides to “increase” its presence in the Cypriot market – a presumably small market – as you can imagine, many facts will soon change….

Alpha Mega

First of all, the largest Cypriot retailer, Alfa Mega, which collects sales of around 350 million euros, sees its primacy at risk – even if the Sclavenitis group, after the acquisition, collects around 300 million euros. So observers of the Cypriot market estimate that the Papahellina family will be forced to move in the near future to improve their position. Until now, the largest Cypriot supermarket chain has developed – mainly – by opening its own stores. Only a small part of its growth is due to acquisitions of small retail businesses. Some even believe that he will soon be forced to move more aggressively. It will be seen in the next period….

Private label

However, one important parameter in Cypriot competition is the category of private label products. The presence of Lidl and its expansion has brought this category to the fore. Alfa Mega initially collaborated with the British Tesco, from which it procured private label products, and from 2022 it collaborates with the French Casino. Masoutis is also present in Cyprus in collaboration with a chain of small and medium stores, Mas Supermarkets, which has 52 stores. Masoutis supplies it with private label products. In any case, the Greek company has a presence in Cyprus. With what this might mean for the future. Metro SA is also present with a cash & carry store and a second one is being prepared in Nicosia!

Online…

However, what I want to point out is that little by little the Cypriot market is turning into a “connected” market with the Greek one. Otherwise, a new field of competition between Greek companies – a product of the time, of course…

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Very close to the deal

Much may have been said about the value of cotton production in Greece, but perhaps the reward will come. Even if it’s late.
After all, the interest of some foreign fashion houses in Greek cotton is well known.
And as I learn the plans are quite advanced.
In other words, it is not excluded that we will see in the next, i.e. in the winter 2025/2026, Louis Vuitton bag collection that Greek cotton is also included in their materials.

The problem of Epilectos

The irony of fate is that Epilectos, under Euripides Dontas, is at the center of these negotiations.
But at the same time, the country’s largest textile industry with three factories in Farsala, Livadia and Lamia and 117 employees seems to have its back against the wall and is fighting to stay afloat.
In fact, the company’s statutory auditor declared his inability to express an opinion on the annual financial statements he recently published for the 2023/2024 financial year.
The stock is on hold, too.

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The “revenge” of Alpha Bank

Do you think Alpha Bank’s share will surprise at the end of the year?
However, something seems to have changed in the stock, after the better than expected profits it announced in the 9th month.
Not just better, that is, much better.
He also presented the plan to accelerate the amortization of deferred tax assets (DTCs), like the others.
However, the stock still lags behind the rest of the sector, being the only one in negative territory since the beginning of the year.
In other words, it will have to make a big effort to reach the large double-digit returns of the other systemics.

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This will be fine too…

I don’t want to be a soothsayer, but just a few hours after I wrote to you about the problems of the Daedalus supercomputer, the official submission of Greece’s bid, along with other countries, for the European Union’s artificial intelligence factory came.
Our country is among those that submitted proposals for the creation of the first artificial intelligence factories on the continent.
Of course, the Minister of Digital Governance, D. Papastergiou, had already announced it, as, as he said, Greece must take advantage of the momentum of Artificial Intelligence.

The connection with Daedalus…

The Greek Artificial Intelligence factory will be based on three axes:
In Health, “where there is already a lot of data”
In Culture, with its large open source language models,
In Environment and Sustainability.
The Daedalos supercomputer will be the “key”, Mr. Papastergiou had said.
In which building we don’t know yet…