The reductions in interest rates, the euro-debate of Papalexopoulos, Mytileneos and ELETAEN and Elin catches the Straits of Gibraltar – Economic Post – 2024-05-10 17:48:43

Next month, in June, we will not only have the new composition of the European Parliament, but also the first good news in a long time. We may have the first interest rate cut by the European Central Bank!

In June

As is known, the rise or fall of interest rates is a function of inflation, its rise or fall. So, based on current data, last April’s eurozone inflation was maintained at 2.4%, but its direction is downward. And now we can be optimistic. The beginning of interest rate decline is near. June has arrived! Nevertheless…

At a slow pace

But while in the previous phase of the rise, interest rates rose at a constant and high rate, the existing forecasts are not particularly optimistic about the rate of their de-escalation. It is said that the rate of reduction will not be greater than 0.25 of a unit at a time. That is, their de-escalation will be slow. Will this only apply to the first reductions? I am not familiar. The only thing that is certain is that the time of the fall has come…

And the eurozone

Of course, this is not only good news for the borrowers, but also for the Greek economy of course. And if we also take into account the fact that the Eurozone is slowly starting to recover, it is obvious that a more favorable environment is being formed for Greece!

Exports

Even if the forecasts of the Medium-term Stability Program, recently submitted to the Commission, even if revised downwards – from 2.9% provided by the budget to 2.5% – have the element of exaggeration! For example, a more optimistic environment in the European Union will primarily favor export activity, which has been “struggling” for a year now…

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European elections

One month remains before the European elections on June 9.

Although unfortunately the majority of public opinion in Greece considers them to be an uninteresting political event, important issues for the lives of European citizens are at stake from the rise of political forces on June 9.

And of course the same applies to business activities. And not only the Greek multinationals but also the businesses that operate and are active within borders.

Debate

Businesses are therefore interested in the European elections but also in any decisions that will be made in Brussels in the coming years.

Thus, on the one hand, they seek to hear the positions of the Greek political forces and their representatives, while they also seek to present their own agenda.

Business representation bodies are organizing discussions on the European elections in the next period of time.

Mr. Dimitris Papalexopoulos (Titan)

BSE

BSE is the first to open such a discussion. It is organizing an event on May 13 with the theme: “European elections 2024: The world is changing. Can Europe?’

The two of the few major industrialists of the country, Mr. Dimitris Papalexopoulos (Titan) and Mr. Evangelos Mytilineos (Mytilineos) will present their positions and concerns about the future of Europe in the midst of threatening geopolitical realignments. The issues of prosperity, competitiveness and the single market will be of concern to the two businessmen who, notably in addition to their institutional role in the BSE, represent their businesses in corresponding European institutions.

Mr. Papalexopoulos is not only the president of the BSE, he is also the vice-president of ERT (European Round Bank for Industry) and Mr. Mytilineos, in addition to being the vice-president of the BSE, is also the president of Eurometaux.

So their experiences and positions have special weight.

Mr. Evangelos Mytilineos (Mytilineos)

ELETAEN

A corresponding initiative – a debate is also organized by the representative body of companies producing electricity from wind farms, ELETAEN.

More specifically, he has sent nine questions to the MEPs.

Three of them are: “Which standing committee of the European Parliament will you seek to join if you are elected?” How informed are you about PPE policies? How do you prioritize and assess the need for wind energy investment?’

ELETAEN will publish the answers of the MEPs after May 27.

It will be interesting…

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Elin

Elin energy group is one of the Greek companies with great extroversion.

Its export activity through the Elinoil and Elin Nautiki companies reaches 45 countries on 5 continents.

And the exports of petroleum products and lubricants were those that maintained the group’s financial performance for 2023 at satisfactory levels.

Gibraltar

The management of Elin continues its efforts to diversify its portfolio and especially for its exports to other markets.

So, in short… there has been news about a key investment that will limit its losses from other petroleum products.

The group notes that fluid and volatile conditions in international trade remain and will negatively impact the outlook for JET, diesel and gasoline sales, particularly in Europe.

So in order to limit the losses in these products, it enters the fuel oil market more dynamically. So he invested in storage space (tanks) in Spain. In fact, he leased relevant facilities. This move will allow Elin to grow sales in West Africa, the Mediterranean and Gibraltar covering the loss of revenue from sales in Europe.