What does the upgrade of the stock market mean, “withdrawals” and investments in Allianz, which photovoltaic are they fighting for, what is missing from Avramar, thanks to Hatzidakis – Economic Post –

I am following with great interest the public debate on upgrading the Greek stock market in the developed markets.
Because here too we are divided, I put the signatory in the frame as well, as to whether it is a step in the right direction or not.
That’s why I did a mini, informal poll to see what some of the big managers thought about the matter.
And what I gathered is that a yes or no answer is the least impulsive.
They said more… but my code of decency won’t let me reproduce them.

Reason 1

The approach, then, to answer safely is multifactorial.
The first reason is that clearly the funds active in the developed markets are much more, but the weighting of the “small” Greek market will be a drop in the ocean.
But assuming inflows and outflows is a basic methodological error.
Because the estimates for the size of the securities that will accompany the Greek index are uncertain.
Will it be 5, will it be 6, will it be less? Nobody knows.
As no one knows their size until then.
In other words, if the front runners come back and inflate the valuations, then we will have some titles that will get a few tens of millions of euros more inflows.
Of course, the same is true for the opposite.

Reason 2

In order to be able to calculate the orders that an institutional Fund will be obliged to place in the Greek market, one should know the statutes of all the Funds active in the developed markets.
If one starts today… maybe by 2026, when we will have and probably the final decision of the houses, find a way.
Because there are Funds that may have specific market spread rules, but may have secondary fund allocation rules, such as on currency specific markets.
So, what additions and subtractions are we talking about? The discrepancies will be large.

Reason 3rd

The above are just the general observations most admins have pointed out to me. There were other reasons that had to do with individual securities, mutuals or ETFs, which make the equation even more difficult.
At the same time, there is another reason that has more to do with the symbolism of the issue.
Greece’s bankruptcy stigmatized the country, Europe and the euro.
Her return… after a little over ten years means a lot. For everyone.

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Allianz and European Credit

The last big deal in the Greek insurance market was completed two years ago.
And I refer to the acquisition of the European Trust of Christos Georgakopoulos by the German multinational group Allianz.
The changes in the new insurance organization are progressing and do not stay at the level of organization or products…

The “withdrawals”

As it became known a few days ago, Stefanos Verzovitis, COO and one of the close associates of Christos Georgakopoulos, is also leaving the group.
I learn that the Germans are looking for every opportunity to place executives of their own trust at the top of the Allianz – European Trust administrative pyramid.
And they found such an occasion with Verzovitis, the most experienced and capable executive in the insurance market by common confession.
It doesn’t make sense to reveal it to you… And also whether the “departure” of Verzovitis makes sense or not….

And late investments

What is important to tell you is that soon we will have news about a large investment by the Germans regarding the renovation of the building of the European Faith in Kifisias.
Although it is late… it is said that it will start now…
Let’s see….

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Competition is rising

Major energy groups are running their investment plans for the development of projects in Renewable Energy Sources.
And these projects, especially in photovoltaics, have opened up jobs for large construction companies.
I am informed that for a large photovoltaic park being developed by an energy group, in an ongoing tender, two to three large domestic construction groups have rushed in with bids to take over the…
The competition is fierce…
We will have news soon….

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Competition awaits

And while in energy there is great mobility, in fish farming everyone is waiting for the developments with Avramar.
The delays are now long, although as my sources inform me we are very close to white smoke finally coming out.

The paradox

The paradox, of course, is that the industry is booming. It is no coincidence that Greece leads the way in Europe, while in the Mediterranean it is behind only Turkey.
But it is also a “black box” for the government, as a source tells me.
Because the main issue is to complete the special spatial planning of aquaculture.
The delays by the relevant ministries are unjustified, as the agencies themselves have repeated.

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The persistent Mr. Giorgos Vlachos

It was fair done! In – for life please! – response of the Minister of National Economy and Finance Kostis Hatzidakis to the MP of New Democracy Giorgos Vlachos.
In Parliament – ​​where else? You will remember that Mr. Vlahos was among the “11” MPs of the ruling party who submitted a question to Mr. Hatzidakis about “red loans” and distressed borrowers.
It was the first manifestation of the “guerrilla” of the… “neglected” MPs of the New Democracy.

He came back

Then the minister sent an answer to Parliament – he was not obliged to give it from the start.
And this caused great dissatisfaction. But Vlachos is a persistent person. And he doesn’t put it down easily. So he came back to the subject.

The friend of Kostis Hatzidakis

But he is an old friend of Mr. Hatzidakis – the two men’s relations became even… emotional, one could say, from the time when the MP was Deputy Minister of Trade with “my friend Kostis” as Minister of Development.
Well, the Minister of National Finance said not to spoil his favor. And today at noon he will answer him in person from the steps of the Parliament.
About the “red loans”. That’s how these things are. Old loves go to heaven….

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Time is counting down for the ESEE

I think he has realized that several young, aged, market professionals have taken matters into their own hands.
And if you ask me, they are doing well, because they have proven that they bring a different air to the institutions and institutional interlocutors of the government.
That is why I see with a very good eye that the current president of the Athens Chamber of Commerce and vice-president of EBEA, Stavros Kafounis, will take over the reins of ESEE.
After all, he has been vice president for 6 years already at Synomos