As if something moved yesterday in the stock market and we came out of the lethargy of the last month.
One the introduction of the Bank of Cyprus, one the leaks about the National Bank package, the transaction thermometer rose a little.
Are you saying that Arapoglou’s presence on the market reminded of other times? The banker who left his mark on the National has a heavy history.
I’m exaggerating of course. The catalyst is the placement in the National and everything revolves around it.
The meeting between Arapoglou and Stournara
However, immediately after the… “bell” at the Athens Stock Exchange, which marked the return of the Bank of Cyprus to Athens Avenue, Takis
Arapoglou together with Panikos Nikolaou had a meeting with Yiannis Stournaras.
That’s why they had to leave the Stock Exchange room one after the other, leaving the journalists… slightly disappointed that they didn’t get a chance for a one-on-one meeting for further details.
Mr. Arapoglou, however, speaking at some wells before the start, expressed himself positively about the progress of the Greek economy, after the vicious circle of the Memoranda, but also about the Athens Stock Exchange.
The digital age
Regarding the Bank of Cyprus’ goals, the bank’s executives stated that the priority is the financing of large businesses and shipping, while the development of a branch network does not seem to be included in the plans. At least at this stage.
Everything is now done from the mobile phone…
Guerrilla activity continues in New Democracy
I wrote to you a few days ago about the government MPs who are in opposition. Since there is no official opposition, they said to raise their own flag.
The tactic will continue, as I learn. And this time the signatories will be more. I have counted 25, but more names may be added.
So the next question that will be asked will be about energy prices.
Electricity bills “burned” again in August, when energy needs were high.
Of course, the prime minister asked for help from Ursula, but she referred… to the plan to deal with climate change. Another one…
What are they asking for?
In essence, however, what the signatories are asking for is… visibility.
This is what they tell me, expressing their dissatisfaction with how Maximos works. Especially the non-parliamentarians.
The elected representatives of the party cannot be bypassed and a closed group decides on policy, they convey to me.
And to tell the truth they are right.
Do you remember what I told you on the eve of TIF? That none of the government MPs knew what to say about Maximus’ intentions?
Well… this is coming out little by little.
Stale… balance sheets
However, in addition to energy prices, I will also make a proposal to the late opposition parties.
To ask a question about the unprecedented phenomenon for a country in the Western world… regarding the publication of financial statements.
Because we are talking about delays of one or two years!
We are not talking about companies listed on the Athens Stock Exchange. These are required to publish at regular intervals. We are talking about those who are off the board.
“Even multinational giants cannot fail to publish their financial data on time. It is unimaginable…”, notes a leading banker.
These companies write on the oldest of their shoes every principle of transparency and proper operation of the market, he adds, stressing that you cannot know the real situation of the company since the data is… to say the least stale.
And they don’t capture today’s picture.
Is anyone there in the government listening?
The hottest market
Crete is one of the most important tourist destinations. This is known. As it is also known that the Cretan tourist season extends until the end of October – possibly even later for some.
And the famous Cretan diet makes many… gels inside and outside of Greece. As you can imagine, the Cretan market is the hottest market in Greece. And this despite its small size compared to other areas!
The highest growth
I am referring to the consumer goods market and in particular to the supermarket sector.
In fact, according to Circana’s data concerning the 12 months July 2023 to July 2024, the Crete market is “running” with a growth of 5.3%.
The highest rate of all other regions of the country – consider that in second place is Northern Greece outside of Thessaloniki with 4.9%, while Attica “struggles” with 2%!
Masoutis and Sclavenitis
And of course all the big chains of the sector are “crowded” in the Cretan market. Of course, the “lion’s share” is occupied by Masoutis and Sklavenitis.
And this is because the first managed to cooperate in terms of shares with SYNKA – it owns 50% – whose main strength is in the west of the island, in Chania, and the second to acquire, from the still difficult years of the crisis, the share held by Veropoulos in Minas Chalkiadakis SA whose strength is in the east, in Heraklion.
All present
From there on, of course, Metro AEVE, AB Vassilopoulos – which had bought the Plus network – and of course Lidl have a presence.
Of course, the retail or even the wholesale market of Crete is one side, the other is the small productive food businesses, which operate in almost all prefectures of the island.
Lidl and AB
Lidl has made good use of this market for the production of private label products (olive oil, nuts, breadcrumbs, etc.). Oh no, but AB Vassilopoulos also acts accordingly.
And it will soon introduce its partners. Well, the two big ones use them anyway because of the strong network they have. Crete in its glory…
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The next “Battle of Crete”
Of course, in Crete, supermarkets are not the only ones fighting. But also many who want the casino in Gournes. The last assets of the Reds (Ellaktor).
In the coming weeks, the Gaming Supervision & Control Committee (EEEP) will even look for the consultants.
The interest is huge, not only from local prominent players, I learn, but also from others in the eastern Mediterranean.
After all, the tourism that Crete has is the great guarantee of the success of the venture.
After all, it was not by chance that MEP Giorgos Avtias said that tourism is… a frigate of the economy….
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Another big project
Of course, the utilization of the “little Hellinikon”, as the project in Gournes has been called, is not the only thing in progress, as the utilization of the EKPA’s real estate will also start very soon.
In fact, it has been taken over by the experienced Marios Tsakas, who was the head of DEDA, one of the gas network companies acquired by Italgas as part of DEPA Infrastructure.
The new project is huge, as the University of Athens has, through bequests, huge real estate, which, as I learn, can also be used for tourism.
As long as he doesn’t get “entangled” in time-consuming bureaucratic procedures…
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