The big day has arrived as today the head of the Federal Reserve, J. Powell at the Jackson Hole Symposium.
The whole world is waiting for it to get the signal that the biggest central bank of the planet will give about its interest rates.
Along with the people of L. Athens, who saw the AX locked in the waiting room this week, following a narrow path of low interest.
No matter how much we think about the “autonomization” of the AXA, the over-dependence of the Athens Stock Exchange on the moods of the global markets is not going to be broken.
Of course, as has happened many times in the past months, Powell’s Fed speech may turn out to be less enlightening than expected.
It is not excluded (on the contrary, in fact) that he will confirm the “mantra” of his counterparts in Europe that future decisions will depend on the data.
Safe game from the policy makers…
The Olympic Games supported France
On European soil, the data confirmed the strong boost the eurozone received from the Paris Olympics, which boosted private sector growth at its fastest pace in three months.
For France’s economy in particular, preliminary data showed it benefited in August from their holding, as a sharp rise in the country’s services sector offset continued weakness in manufacturing.
The comparison with Greece
The comparisons with the Athens Olympics are therefore reasonable, although 20 years have passed.
However, no matter how much one doubts whether or not Greece should undertake them, the study prepared by IOBE was clear.
He concluded that Greece’s GDP would have been 2.5% lower if the 2004 Olympics had not taken place.
In fact, he had argued that if the Olympic facilities had been used better, then the benefit would have been even greater.
So… it’s all about management.
Didn’t the Olympics bankrupt us?
In any case, however, the organization of the Athens Olympics “sits” in the soft underbelly of the Greeks, although there were no shortage of moments of national pride.
But the reason for the criticism is the feeling that the organization charged the Greeks more than what they could bear.
But it is enough to look at the country’s debt in 2004, when it was 183 billion euros, while in 2009 it had reached 299 billion euros.
In other words, we are talking about more than 100 billion of debt that was added in a five-year period.
Five years after the Games…
The wrath of Leros
A few 24 hours after the “warm” reception of the Minister. of Health, Adonis Georgiadis, from the residents of Leros, the decision of the Ministry of Shipping was issued for the upgrade of the port in Lakki.
I don’t know if it’s a coincidence, but the project will cost 800,000 euros, on an infrastructure that was dangerous for pedestrians and vehicles.
The amount was not that big so it didn’t take so long. In addition, Minister Georgiadis saw for himself the mess in which the ports are located on several islands and pressured the people of the Akti Vassiliadis building.
After all, Leros was not among the 17 port projects that were included in the Development Program of Contracts of Strategic Importance.
The change of baton at OLTH
And since we are talking about ports, an old acquaintance returns to the port of Thessaloniki.
Yiannis Tsaras took over as managing director of the Organization after the resignation of the Dutchman, Arie Koppelaar.
Now what happened and the Dutchman only stayed ten months in his position…
A message to Maximos?
However, Mr. Tsara’s position, apart from the fact that he is a man who knows the port well, was considered by many to be a message to Maximos.
The head of the PPA for six whole years, in the period 2004-2010, is considered in the co-capital as an old Karamanlikos, something that should not “excite” Megaros Maximos.
Cohabitation suits… retail
Yesterday I wrote to you about the retail battle, with supermarkets being the focus.
However, as we are informed, the battle is growing and alliances are already being formed. On a different basis now.
Ten years ago we had “cohabitation” due to the need to reduce costs. But now the powerful retail brands look at their “roommates” with a different eye.
Aim to bring the consumer to the hub
From the idea of the coexistence of IKEA, Intersport and Holland & Barrett in a Retail Hub with the signature of Fourlis, to their coexistence with Plaisio at the airport and the concepts that big brands want to share spaces.
Like Kritikos with Jumbo in Argos, and deals like Pepco’s with AB Vassilopoulos, which show the level of cooperation between naturally non-competing businesses.
The aim is to improve the efficiency of each point of sale with the expected increase in traffic and the creation of new poles of interest – commonly it is done by… cohabitation or otherwise “one hand washes the other”…
Her “lonely journey”. Coca Cola
Of course, Coca Cola does not need partnerships to continue its good course.
That is why the strong execution of its business plan has already been incorporated into the numbers, as Eurobank Equities also found, which, however, sees the margins for the stock narrowing.
The price essentially incorporates an increased risk premium due to its exposure to emerging markets.
Positive operational surprises are therefore needed to restore the buy recommendation, as he downgraded it to hold, as the stock remains 10% below its long-term average.
In any case, however, the listed company has a healthy balance sheet, well positioned to benefit from the growing soft drinks market.
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