Toll populism, the Attica Bank bet, Russell awaits the National, what Germany wants from Greece, the “opposition” of the government, the mysterious Mr Bitcoin – Economic Postman –

I will give you an example of how the government (and not only it) deals with some important events happening in this place.

One of the biggest, if not the biggest, denationalisation ever has been completed.

The concession of the Attica Road brings 3.27 billion to the coffers and reduces the debt by 1.5 percentage point.

In another country this would be considered a great investment, with a significant benefit for all Greeks.

Not here…

Not here. I was surprised to see several ministers on Sunday uploading their toll receipts on social media to show the lowest tolls.

That is, what they consider as major is the 30 minutes that someone will save from tolls. And not that all the Greek people now have more than 2 billion less debt on their backs.

The roads are sad…

Ok, I understand that not all ministers have debt as their main concern, and certainly not transport.

But I wonder if they circulate on the streets of Athens and Thessaloniki.

If they do they can’t help but get stuck in rush hour traffic.

Not to mention the Metro routes.

Could it be that instead of putting up the “cards” of the tolls, they were looking for a plan on how to relieve Athens of traffic?

Maybe they were looking after the acceleration of other major infrastructure projects? The backlog is now sky high.

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But now they have other jobs…

I have no claim that they will see this problem immediately either, since as I learn there is a mini-chaos within the government.

I have been writing this to you since the end of August, you will tell me and you are right.

But as a former member of the conservative faction told me… one conservatism, another change of direction.

What did he mean? We’ll see in a little while, he told me. New-fangled defenders of the founder’s vision will see the door to obsolescence, he said, not wanting to point the way out.

In fact, he referred me once again to “de-symbolize” the questioning MPs, who have recently assumed the role of parliamentary control.

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Attica Bank’s bet

The approval of the prospectus for the AMC of the Bank of Attica is expected by Friday, October 11. An equation for both existing shareholders and those looking to get in on the bank’s growth.

Because the process starts with a reverse split. The 100 shares will become one. That is, the bank will have 530,643 shares.

Then the first phase of the IPO will be carried out, with the incumbents getting 677 new shares for each one they will have, for 1.87 euros (1,265.99).

After the increase, each new share will give a right for 3.5 new shares (2,369.5), for 0.05 euros each.

In other words, the average ownership will be significantly reduced, in order to cover (?) the loss suffered by the older shareholders, towards the increase.

Psychopath…

The process for an older shareholder is clearly soul-crushing. It is not easy to see one’s position degraded, whatever it may be.

However, from October 11, when the trading of the new shares will begin, the targeting of the major shareholders will also be seen.

They clearly did not and will not enter the bank just for trading. The guarantees have been given, despite the difficulty of the undertaking.

The low dispersion that will exist will make even small movements have a strong impact.

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Don’t rush…

And to stay with the banks, today the new securities of the National Team will also be credited to those who participated in the placement.

You read what happened last week in detail from OT. I don’t need to insist. History will show the mistakes and the right things done.

That is why I recommend patience to those who participated and took shares.

Because tomorrow, the national team’s weighting on Russell will also increase due to the release of the package. We will have a mini rebalancing.

They are waiting around the corner…

I remind you that several big institutions are waiting in the corner… for titles that have their criteria of course.

And the National Team is among them and their goals for many months. But they cannot take “cards” from the board. They don’t even exist.

So in order to reach the quota they should have, they either wait for packages, or they wait for placements, or they wait for turbulence and rebalancing.

And the mind…

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Germany is in crisis

It was with great pleasure that I watched the German ZDF’s extensive documentary on Sunlight.

Well, the Germans took it elsewhere, because they are on fire for the deindustrialization that is going on in the country.

In fact, the title of the documentary was actually “Is Made in Germany Over?”.

They were used to being the “steam engine” of Europe and now they see themselves losing their crown.

And of course not from another European country. But from countries whose labor and energy costs cannot compete with Germany.

And from other European countries.

The example of Sunlight

However, the journalistic team of ZDF turns its attention to Greece and wonders what they can learn from our country.

In fact, it is presented as a case study, which the Germans would do well to emulate, as their own industry is going through a difficult period.

Because with successive strategic acquisitions in foreign countries and placing international executives throughout the “chain” of management, research and production, Sunlight has changed many “tracks” in recent years, having become one of the major players internationally.

Mariella Röhm-Kottmann, CFO of Sunlight Group, spoke to the channel and praised the skilled staff of the Greeks.

The proposal… OT

I have no intention of blessing the beards of Greek business. After all, we are far from becoming a force to be reckoned with.

But I recommend to the Germans to meet on October 9 in Frankfurt.

There, the mid cap of the Greek capital market will hold its own mid cap roadshow.

There will be ADMIE, Metlen, Austria Card, Lamda Development, PPA, Premia, Profile, Thrace Plastics, and others.

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The mysterious Mr Bitcoin

Since the column is pro-market, it can’t help but be interested in bitcoin as well.

After all, since it was created in 2009, it does not stop disturbing the soft underbelly of the mainstream markets and authorities.

Until, of course, the beginning of 2024, when it became a member of the large Wall Street ETFs.

But the great myth is the person who created it.

That’s why crypo-maniacs everywhere, whatever their philosophy, are waiting for Cullen Hoback’s documentary, which claims to have cracked the true identity of Bitcoin’s creator.

The big reveal is set to air on Wednesday at 2am. CET (Tuesday at 9 p.m. EST) on HBO.