From Macron’s…coke to the xylene of Tempi, the friends Merz and K.M. (but there are too many migrants), Generali, Einstein and Bioiatriki, the deal of Piraeus Bank

Greetings! Today, I want to explore a seemingly unconnected link between two events that, despite appearing distant, share notable similarities. Just a few days ago, shortly after Zelensky met with European leaders in Kyiv (including Macron, Scholz, and Starmer), a controversial video began circulating on social media. The footage allegedly depicted Macron concealing a small bag of cocaine beside a spoon typically associated with drug use. This video quickly went viral, reportedly garnering 85 million views according to the BBC. The claim was further propagated by Russian officials and numerous fake accounts. Upon closer inspection, it was revealed that the “coke” was actually a used tissue, likely belonging to Macron, and the “dose spoon” was simply a coffee stirrer. Nonetheless, social media had already concocted a narrative implying that Zelensky was treating Macron, Keir, and Friedrich to illicit substances to lift their spirits!

Now, shifting to a more serious matter—particularly tragic for us and the 57 families affected by the Tempi incident—public attention became fixated on a “fact” that has since been debunked. Initially, the narrative suggested the presence of smuggled xylene in the train cars, but we have since learned there was no substance found. This conclusion was affirmed not just yesterday with the Polytechnic’s confirmation, but over the past several weeks, as foreign universities denied having issued any reports regarding combustible materials on board. Consequently, we’re left with the so-called “experts”—one individual making media appearances and perpetuating misinformation. Even the Maximos Mansion was swept up in the initial hysteria, with the Prime Minister almost alluding to possible illicit activities in a televised interview. In hindsight, had there been a consultation with knowledgeable individuals at the time, perhaps more caution in statements would have prevailed. Such incidents, whether accidental or orchestrated, can easily lead to mass confusion and considerable fallout.

Opposition

The xylene cover-up theory, while shocking, ultimately served to distract from actual governmental accountability. Both sides of the opposition, including Zoi with Androulakis and Famellos with Velopoulos, rallied around this narrative and continue to deflect responsibility. Despite the ongoing situation, they remain reticent to face the consequences of their actions, instead opting to criticize anything or anyone that doesn’t align with their stance. The damage is widespread, impacting everyone involved, including themselves.

In New Democracy

To be fair, some members of New Democracy, such as Adonis and Pavlos Marinakis, resisted the tide of misinformation regarding xylene. Or did they?

Judicial Developments: The Triantopoulos Case

With the senior judicial officials appointed to the Judicial Council, procedures are now in place to formally refer Christos Triantopoulos to regular justice. This council will convene on the 7th floor of the Athens Court of Appeal due to a lack of space in the Supreme Court building. Triantopoulos will be investigated for potential misconduct related to his actions following the tragic train collision in Tempi, which some claim involved a cover-up. Coincidentally, this referral coincides with the recently published National Technical University of Athens report attributing the fireball to engine oils and an electric arc from the collision, thereby refuting the narratives surrounding the transport of illegal flammable substances.

Meeting of Friends

The friendly rapport established between Mitsotakis and Merz, evident from their interactions at the Chancellery, extended into private discussions. According to a trusted source, “It was a meeting between friends.” They have had several prior conversations, including a recent meet in Valencia. Their discussions encompassed European affairs, defense, the EU’s unified approach to tariffs, the Ukraine war, investments, energy, and digital governance. Reports suggest that Merz is a proponent of all energy interconnection projects Greece is pursuing in the region.

Challenges and Communication Channels

However, not everything is seamless. Mitsotakis made it clear that Turkey should not be involved in EU cooperation discussions—a sentiment that Merz understands, although he differs from Scholz on this issue. Migration, a topic Germany is focused on concerning deportations, is set for further talks between Germany’s new Interior Minister Dobrindt and Voridis. Still, direct communication exists between Mitsotakis and Merz, allowing practical resolution of issues. Channels like their friendship with the new chief of the Chancellery, Jakob Schrot, and longer ties within EPP also facilitate dialogue.

Lunch and Executives

The atmosphere at the Chancellery was lively, with various attendees from the Greek side, including Michalis Argyrou and others. The menu featured beef fillet preceded by a smoked fish salad. Later, Mitsotakis met with CEOs from major German firms at the Marriott hotel auditorium, further discussing ongoing matters.

Union Tensions

In the realm of public revenue, the Independent Authority for Public Revenue (AADE) is witnessing major restructuring aimed at enhancing operational efficiency. Early results show increased revenue and reduced tax evasion. However, this has sparked discontent among unionists, who have urged tax officers to limit their inspections and refrain from using official vehicles outside work hours. Shouldn’t such issues be addressed rather than perpetuating existing practices?

Healthcare Developments

In healthcare, notable activity is unfolding, particularly with Generali’s negotiations to acquire Euroclinic. An industry insider remarked on the parallels with Einstein’s wisdom on redundant experiments. Meanwhile, the Spanou family of Bioiatriki is also pursuing talks with investors, although the financial landscape remains challenging with substantial debts and clawback payments.

Progress with Piraeus Bank

The agreement to sell part of Piraeus Bank’s offsite ATMs to Printec is set to be finalized by the end of next month, assuming no unforeseen hurdles arise. Around 800 ATMs will be transferred, strategically retaining a significant number in remote areas to maintain banking access for residents. Printec has evolved over 37 years from a printing establishment to a major player in automated transaction technology across 17 countries, with robust financial performance in recent years.

Thessaloniki Port Authority Update

Shareholders of Thessaloniki Port Authority (OLTH) anticipated a productive general meeting to unveil “beyond the port” initiatives, but a recent postponement request from the State representative sent shockwaves through the market. While the stock initially dipped to €33.8, buyers quickly emerged, pushing prices back to €34. Giannis Tsaras, the current CEO, is managing complex dynamics between partners as they navigate these developments.

JP Morgan’s Legal Disputes

The legal battle involving JP Morgan and WeRealize is far from over, with JP Morgan deciding to withdraw its UK lawsuit but maintaining its €917 million compensation claim in Greece. The situation remains contentious, and the standoff regarding share ownership continues, awaiting further developments this July.

New Venture: Noval Property’s Investment

Noval Property unveiled plans for a mixed-use development in Mets, managing a newly renovated building that includes both residential and office spaces. The expected rental prices are high, indicating a trend in property values within the area.

Market Movements Reflecting 2010 Trends

The Athens Stock Exchange is experiencing growth reminiscent of May 2010, with the General Index aiming for 1,800 points. The banking sector also made strides, with substantial gains observed this year. Key companies are hitting historical highs, marking a notable period of economic recovery.

Anticipating MSCI and Future Events

Despite a rocky start to yesterday’s trading, market experts noted a positive outlook, with key buy-ins in blue-chip stocks. Critical upcoming events include the MSCI report and the Fitch Ratings assessment of Greece’s credit rating.

American Investment Trends

Americans have shown a preference for real estate as the top long-term investment option, despite recent surges in stock prices. This trend underscores a continued belief in the stability of real estate as a reliable investment.