The national success at the Eurogroup and the “frapés” (inside and outside ND), the meetin

Source: ProtoThema English

Greetings. Yesterday, the Minister of National Economy, Kyriakos Pierrakakis, became the first Greek politician ever to win such a high-ranking position in the European Union through a vote — that of Eurogroup President. Pierrakakis, with the guidance and active backing of Mitsotakis, modestly, measuredly, persistently, and methodically managed to beat his opponent, the Belgian Finance Minister Vincent Van Peteghem. Here is a brief account of the road to this extremely important post, both for the country and for the 42-year-old politician who was elected MP for the first time only two years ago. The “father” of the idea to nominate Pierrakakis for Eurogroup President was his predecessor, Ireland’s Minister of Economy Paschal Donohoe, who resigned in order to take a high-level position at the World Bank. When this was suggested to Pierrakakis — informally, of course — he immediately went to Mitsotakis and asked first for his opinion, and second for his permission and support.
According to information, before the Prime Minister said YES to Pierrakakis and threw himself fully behind his candidacy, he made two phone calls. The first was to the President of the European People’s Party, Manfred Weber, to ask whether “our minister” would be acceptable and had chances within the EPP; and the second call was to Donohoe himself, to ask how much time the Eurogroup presidency consumed. Afterwards, Mitsotakis summoned Pierrakakis and told him he would support him, informing him of the two previous calls. “I called Weber and he’s positive, and I called Donohoe to ask how much time he spends on the Eurogroup. He told me about 30%, so you’ll need to work… 130% of your time,” he said.
Pierrakakis thanked him (and naturally assured him about the working hours), and from that day — about five weeks ago — Mitsotakis literally did everything possible to get his minister elected. Every day in K.M.’s schedule there was a “Pierrakakis hour,” meaning the time he would always make one or more international contacts in favor of the minister’s candidacy. He didn’t leave a single prime minister he didn’t speak to, even from the opposite political camp, like Meloni — given that the Belgian PM belongs to the same party as the Italian. In that sense, this is very much his success as well.
Of course, Pierrakakis himself, along with several other Greeks, started from the very beginning the effort to gather votes from the Eurogroup finance ministers — Foreign Minister Gerapetritis, MP Chatzivasileiou, and naturally his team: Vassilis Karatzas and director Nikos Dimakis.

“Frapés” and intra-party matters…

• Meanwhile, at the same time as the Eurogroup yesterday, the entire opposition bet on the submission of the so-called “Frapés,” a Cretan fellow who, it seems, was taking money illegally from OPEKEPE because… there’s a photo of him from 2017 with Mitsotakis at a Cretan celebration along with another 30 party members. And because, as the great leader Nikos A. “revealed” (who knows nothing about Cretan roughnecks), Kyriakos Mitsotakis’s father had officiated the wedding of “Frapés’” brother in 2004!
  Meanwhile, images of Pierrakakis as the new Eurogroup President and of Mitsotakis making statements about this undeniably national success were traveling around the world. Compare the images and the contrast with the opposition’s communication strategy. I’d say the only one who’s gaining within her audience is Konstantopoulou. I imagine similarly that the images of Karamanlis and Samaras hanging out together don’t help in comparative profiles…

Mitsotakis–farmers meeting

• On domestic matters now, the agricultural issue dominates, and today the ruling party also holds its Parliamentary Group meeting. Mitsotakis will first give a light scolding to his MPs who shout in order to… be heard by the farmers, telling them that we all care about these people, and that if the inspections hadn’t been carried out first, they would not have been paid by the EU. Because, as is well known, the EU services don’t listen to the Serres-style protests of Mrs. Arampatzi. The spokesperson Marinakis already hinted yesterday at what the PM’s reaction will be.
  At the same time, from ND’s Parliamentary Group Mitsotakis will announce a private meeting with the farmers’ representatives, provided they elect delegates at their assemblies tomorrow. The meeting can happen Monday or Tuesday, if delegates are chosen, and Mitsotakis intends to satisfy their main demands — chiefly cheaper electricity — so that everyone can have a calm Christmas. We’ll see.

MPs back at Lolita’s

• My source saw a lot of activity last night at the well-known Lolita’s in Psychiko, with quite a few MPs heading up to the restaurant’s mezzanine. I hear the host for the evening was ND’s parliamentary representative Notis Mitarakis, with about 25 MPs dining — a group that started with 7–8 people and kept growing. So even though the dinner with K.M. at “Karavitis” didn’t happen, ND MPs haven’t exactly gone into fasting mode. As you can imagine, ahead of today’s Parliamentary Group meeting and amid farmers’ blockades, the menu included rich political gossip — but I’ll refrain for now…

The MP, the field, and the “technical solution”

• Let me give you another piece of gossip involving an MP that reached my ears, after the one who wanted OSE to grant favors with jobs for his voters. So, an MP who owns a field with some trees in his home region — where he’s also elected — was receiving small sums from OPEKEPE, but he didn’t really bother with it much since the subsidy money was peanuts and the production was mainly for home use.
  After the scandal, however, he too started digging and at some point realized he didn’t receive a subsidy for a plot that belongs to his wife. He looked into it and found that some producer from Crete had — apparently through a “technical solution” — declared his field as grazing land since last year, and continued the same practice this year. And now he’s trying to sort it out…

The road opens for major deals in brokerages

• Euroxx, despite denials from the company’s side — let’s assume justifiable since no agreement has been signed yet — is heading toward the Piraeus Group. As for Pantelakis, discussions are apparently underway, likely with Credia, though they haven’t yet concluded; and the information clearly fits within the context of the recent statements by E. Vrettou about one or two acquisitions by the bank.
  In any case, major private brokerage firms are moving into the banking sector, opening the way for the remaining investment firms (AXEPEY) which now need to scale up quickly and find their place in the new era of our stock market.
  Private brokerages are much more flexible in their management style and in staff compensation, but they will need significant capital — and organizational — reinforcement to meet the market’s new demands. Already there is talk of funds that may boost the share capital of private brokerages (Depolas, BETA, Merit, etc.), though they are still unable to define the scale and scope of the changes needed to become Prime Brokers in the Euronext era.
  There is the example of Portugal, although it’s quite old, and the more recent successful example of Italy, which today contributes 25% to 30% of Euronext’s total revenues.
  In Greece, the scale is different, so the first choice for private AXEPEY seems to be “limited licensing” (e.g. no Clearing, no Custody). All this remains until the first major deals close with funds that want to invest in the newly upgraded Greek stock market under Euronext.

After THEON, the EFA Group of Chatzimina

• The great success of Theon International Group, which in just two years has tripled its market value and is now closing major contracts abroad, is bringing developments to another defense technology group of Christian Chatzimina, the EFA Group. Announcements about the company, which has also embarked on the path to the stock market but in a second phase, are expected next Tuesday and, according to information, will include the entry of well-known business groups into the share capital. Meanwhile, the company’s new factory is already ready, laying even stronger foundations for the Group’s subsidiaries covering a wide range, from electronic warfare, satellites, drones, software, and more.

The STOXX rebalancing and Metlen

• Next week, Friday, December 19, after the market close, the annual restructuring of the STOXX indices will take effect, with three Greek companies strengthening their international presence. According to Eurobank Equities, Metlen Energy & Metals, VIOHALCO, and the Bank of Cyprus are joining the STOXX Eastern Europe Total Market Large Index. Metlen stands out with broader inclusion. It will be added not to one or two but to five additional indices: STOXX Developed and Emerging Markets Total Market, STOXX Emerging Markets Total Market, STOXX Balkans Total Market, STOXX Greece Total Market, and STOXX All Europe Total Market. This multiple inclusion also generates significant multiple flows from passive funds tracking these indices.

Grylos (also) in real estate

• Yesterday, the Grylos family, which controls the IOGR group — including the airline Sky Express, aircraft ground handling company Swissport Hellas, and a strong presence in the tourism market — moved to establish a new company with… an eye on real estate. The new company is called Grylos NIA Developments S.A., is headquartered in Heraklion, Crete, and starts with a share capital of €100,000. Its purpose is property management and leasing services, general building cleaning, and more. The founders and shareholders are Andreas Grylos, contributing €51,010 (51.01% stake), Ioannis Grylos, €16,330 (16.33%), Nikolaos Grylos, €16,330 (16.33%), and Marianthi Mastrakouli, €16,330 (16.33%). In the first Board of Directors, Andreas Grylos is Chairman and CEO, Marianthi Mastrakouli Vice-Chair, and Ioannis and Nikolaos Grylos are members.

Over 7,500 private investors in Aktor’s bond

• The bond loan of the AKTOR Group attracted strong interest from the investing public, experiencing very high demand. More than 7,500 private investors participated, depositing a total of €251 million of the €440.7 million submitted, leading to significant oversubscription — about 3.1 times the requested amount. Brokerage sources note that the issue had quite strong characteristics, and despite being supported by only one systemic bank, Piraeus Bank (and also Credia and Optima), the process was completed with absolute success and particularly high demand. Furthermore, they highlight that the large sum raised is even more significant considering that during 2025, bond issues by listed companies exceeded €2 billion in total. This underlines both the attractiveness of this issuance and the market’s confidence in the Group’s business plan and prospects. It is also noted that this was the new AKTOR Group’s first appearance in the markets, giving even more weight to the result.

Grimaldi fenced in Brussels

• At the conference for the 60th anniversary of the European Community Shipowners’ Association (ECSA) in Brussels, Emanuel Grimaldi made it clear he wasn’t going to let the anniversary go by in “low gear.” While the audience expected a customary speech, the Italian chose a straight line: he spoke about politicians who “don’t listen” and about European decisions made without regard to the reality of shipping. His reference to a former Commissioner who sought his opinion “without intending to follow it” left a frozen smile on the panel. The message was clear: Europe still asks the experts only to… confirm that it will do the opposite. Grimaldi reminded everyone that shipping is not a playground for political games, but a sector for decisions that keep the European economy upright. In Brussels, some felt the criticism was pointed directly at them.

Emanuel vs. MSC

• While this was happening in Brussels, the Grimaldi group successfully opposed the planned sale of five Moby ferries to the MSC giant, leading to a suspension of the plan by the Lazio Regional Administrative Court (TAR). Grimaldi’s objections are mainly based on concerns about competition and the risk of creating a monopoly on lines to Sardinia and other Italian islands.

Tsakos and the Rebrain

• You may have heard about Minister Niki Kerameos’s presence in New York with the main purpose of repatriating Greek scientists to Greece — the so-called Rebrain. The Minister attended the Rebrain Greece event in the Big Apple, and according to reports, significant support for these efforts comes from the Tsakos Group, specifically the NYSE-listed Tsakos Energy Navigation, founded and led by Nikos Tsakos. There is even a photo of Nikos Tsakos with the Minister and Archbishop Elpidophoros of America, showing the serious effort underway. TEN is the oldest Greek-owned shipping company listed on the NYSE and has been active for decades in social contributions, always with the homeland in mind.

Storm… Alert at Navios

• The recent placement of the Storm Bond Fund in Navios Maritime Holdings’ bonds caused a stir, mainly for the timing. At a period when many managers avoid increasing exposure to cyclical companies, Morten Astrup’s fund chose to “lock in” a 7.75% yield on Navios’s senior unsecured bonds. From a Wall Street analyst’s perspective, this move shows that Navios is still considered a company with measurable predictability — not because the market suddenly became stable, but because the company shows what bond investors call an “equity cushion that does the job,” i.e., the “buffer” offered by the company’s net worth against its debt.
  The most important asset, however, is the $3.7 billion backlog, which ensures cash flows over a time horizon that traders rarely watch but bond managers never ignore. Storm placed 1.2% of its portfolio in Navios bonds — a small percentage, but for a conservative high-yield shipping fund, it is a clear signal of confidence. This is not a “vote” for the stock or management, but for the company’s ability to generate predictable EBITDA and maintain its debt structure without surprises.

The long squeeze of cryptocurrencies

• It was the afternoon of October 6, when the price of a bitcoin surpassed $123,857, and that day dozens of analyses were published predicting a rise to $150,000 or even $200,000. Reality proved completely different. Today, bitcoin struggles to hold $90,000, with daily fluctuations of +/-5% becoming routine. Those optimistic enough to believe the analyses forecasting huge six-figure numbers rushed to borrow in order to take positions and make more money. What we’ve seen in recent days is the massive liquidation of leveraged long positions, like the one two days ago when more than $250 million vanished in a few hours. It was yet another classic “long squeeze,” typical of the crypto market’s over-expectations. When Bitcoin began to drop from $120,000, automatic liquidation mechanisms triggered the familiar domino effect. The price fall activated margin calls, forcing position sales, which in turn pushed the price even lower. One thing is certain: now, macroeconomic concerns — from Fed policy to geopolitical tensions — affect all so-called risk assets, including cryptocurrencies. Technical analysts argue that the $89,600 level is a critical support, and a potential break could lead to further decline toward $85,000. For now, the world’s largest cryptocurrency trades safely above $90,200.

Oracle reminded Wall Street what an “expectations bubble” means

• The trend was visible from the night session with futures contracts. But as soon as yesterday’s Wall Street session began, Oracle Corporation’s stock immediately recorded its biggest daily drop since 2001. At the open, it fell -14%, evaporating $105 billion of its market capitalization in minutes. It all started with the Q2 earnings announcement, which disappointed Wall Street’s expectations for accelerated growth in cloud computing. Oracle follows a fiscal year starting in June, so its second fiscal quarter ended on November 30. The key to the negative reaction lies in cloud services revenue, which increased only +12% year-on-year — well below analysts’ expectations of 15%–16% growth. Oracle is aggressively investing in cloud infrastructure to compete with Amazon Web Services and Microsoft Azure. For these investments to pay off, large contracts with hyperscalers and AI companies are needed, which are not yet visible. Management also warned of margin pressures due to higher capital expenditures in data centers, while plans for new cloud contracts fall short of targets. Bernstein and Goldman Sachs analysts immediately downgraded their recommendations, noting that the company is paying the price for entering the cloud war late. Oracle’s collapse also dragged down other enterprise software companies like Salesforce and SAP. Beautiful expectations burn beautifully.

The original article: https://en.protothema.gr/2025/12/12/the-national-success-at-the-eurogroup-and-the-frapes-inside-and-outside-nd-the-meeting-with-the-farmers-the-big-deals-in-brokerages-grylos-in-real-estate/ belongs to ProtoThema English .