Greetings. For more than three and a half hours, Mitsotakis listened to some 25 representatives of the farmers, or of some of them, laying out their issues—let’s say, in a good sense, their pain. I will not comment on the substance of the meeting with the prime minister, although I don’t think it couldn’t have taken place with Hatzidakis or Tsiaras, who deal with agricultural matters, as well as the OPEKEPE issue, on a daily basis for months now. It is understandable, however, that everyone would like to speak with and be heard by Mitsotakis or by the prime minister of the day. And personally, I do not recall any prime minister having sat at the same table for nearly four hours to discuss and listen to trade unionists from any sector, at any time—and not even in a pre-election period. I wrote it yesterday as well: the patience and persistence, as well as the “willingness to be flexible,” of K.M. are proverbial in all matters and, of course, this has worked out quite (to very) well for him. That is why he did it yesterday too, despite the fact that throughout this period the behavior of most representatives of the farmers had been insulting toward the government in general.

What was said inside…
– The meeting therefore lasted at least 3.5 hours and indeed a serious discussion took place, as the people who sat at M.M.’s table know the issues and were not throwing fireworks into the air. Each of the 25 producers who took the floor raised a fairly substantive issue, with Mitsotakis intervening at several points in the discussion, making observations and, in some cases, recommending that this or that issue be discussed with the competent ministers, mainly pointing toward Hatzidakis and Tsiaras. My source told me that even if these farmers on their own may not be able to dismantle the roadblocks, the fact that in one meeting they left with a package exceeding €100 million more than what had been given shows that, had the “hardliners” come, they would have come out winners. And this may be reflected in the composition of the roadblocks in the period ahead, as various people who are covered may gradually withdraw. In any case, in his statement after the meeting, K.M. did not appear particularly inclined to discuss with those… outside the hall who ignored, for the third time, an appointment with him.

The meeting with the Northern Greeks
– The farmers, however, are not leaving Athens today. And that is because at around 11:30 they have another meeting with Hatzidakis and Tsiaras, specifically on the issue of ATAK, which concerns farmland in prefectures of Northern Greece. The issue was a significant obstacle in the payment process and is moving toward resolution. In general, at M.M. they believe that yesterday’s image, with a proper discussion, creates dilemmas for the hardliners. Let me tell you that contacts with those who came were made by Tsiaras, the Hatzidakis staff, Mylonakis, Mitsotakis’ adviser Thanasis Nezis, ND secretary Kostas Skrekas, among others.

From “The Farm” to Maximos
– Possibly the name of livestock farmer Nikos Parlantzas from Larissa may not mean much to many, but the man is among the “25” who went yesterday to see K.M. at Maximos. Someone more observant than me remembered that Parlantzas, who is a bona fide livestock farmer, had gone in 2023 to the reality show “Farm” on Star. He did not win, of course, and then returned to his life and his unit, until he was struck by smallpox.

Shocking report
– This case with the communications blackout at the airports is getting worse and worse. Yesterday the competent Investigation Committee issued its report, which—through “technicalities” and verbal gymnastics—says that the system is a mess due to its age. It also writes that not only are the systems… ancient, but the Civil Aviation Authority (HCAA) and OTE do not communicate well with each other. Since, therefore, OTE does not belong to the state but HCAA does, along with the minister, they would do well to tell us what will happen with the administration of HCAA, what with Dimás, and, above all, when they will get new equipment. From here on out, time is counting down for everyone, especially after the findings of the report. And yes, the competent authorities maintain that flight safety issues are not raised, but if three major media outlets in Europe and America get hold of the report… good luck spotting a tourist even with binoculars!

Polling begins
– This week pollsters get to work, in an effort to map the landscape forming at the beginning of the new year, and of course they also want to measure the potential influence of new parties on political life, especially Karystianou’s party and our beloved Alexis, who ran into President Maria. In any case, the polling source I spoke with yesterday told me that “patience and careful analysis of the data are needed, to avoid exaggerations and depictions that are not realistic.” And he continued: “When someone tells you that it is likely they will vote for Tsipras’ party and Karystianou’s party, where do you place them?” concluding that the electoral pool of the two nascent formations has significant overlap. So a little patience, because the sum will go to 140%…

Industrialists on hot coals
– Both in the leadership of SEV and in the staffs of the major industrial groups, concern and disappointment are widespread over the inability to find a satisfactory solution for the price of industrial electricity. The waiting continues; the discussions that took place and the promises that were given were not kept, with no clear sign at the moment of how the situation will evolve, as the farmers’ roadblocks—which are obviously a government priority—and the energy prices on the table leave no room for optimism. The Italian model, which was SEV’s proposal, has foundered, without there now being a clear direction, only conjectures.

ELLAKTOR and Dimand’s block
– Early in the morning, at the start of the session, while Dimand’s share had started at €11, a transaction of 100,000 shares worth €1.16 million took place in the market. At the end of the session the share closed at €11.2, with capitalization rising to €209.2 million. Now that it has wrapped up with MINION, Dimand found a buyer in ELLAKTOR, which, according to reliable information, acquired the block. Various rumors and scenarios circulated in the market regarding the block and the ELLAKTOR Group, but the most likely explanation is that these are portfolio management moves.

More than a month’s delay for a criminal record certificate
– Complaints are increasingly frequent about Gov.gr’s response time regarding criminal record certificates. The complaints come mainly from businesses that need certificates for members of the Board of Directors (participation in tenders, licensing, registries, etc.). They submit applications on Gov.gr, but the file with criminal record certificates has become clogged, and there are applications pending since early December that have still not been answered. That is, more than a month’s delay for a certificate, whereas previously the process was completed in 2–3 days and, in the most extreme cases, in five working days. Automation in submitting the application is nice, but the responses are still done with folder and hand, so the digitization of the state still has a bright field of glory ahead of it.

Jim Allen in Athens
– The CEO of Hard Rock is coming to Athens to inspect the big bet of Ellinikon. Jim Allen, chairman of Hard Rock International and CEO of Seminole Gaming, will visit next Monday the construction site of the Integrated Tourism Complex at Ellinikon. The largest tourism project of the decade in Greece is developing at a fast pace and is finally attracting the attention of the international gaming industry. Hard Rock Athens IRC, the €1.8 billion investment being built by GEK TERNA in a joint venture with the American giant, has moved beyond the stage of promises. In the 197-meter, 42-storey tower—one of the tallest buildings in the country on Poseidonos Avenue—the foundation phase has been completed, and now the 100-meter cranes are working nonstop to raise the building. The goal is for Athens to acquire, by late 2027 or early 2028, the only Integrated Resort Casino in continental Europe. With 1,100 rooms, a 15,000 sq.m. casino, a 3,000-seat theater and 15 restaurants, the IRC aims for revenues translating into €200 million annually for the state over 30 years.

The Koutsoulioutsos trials
– The judicial shadow that continues to weigh over the Folli Follie case spread once again yesterday at Evelpidon, with two parallel proceedings reminding us that many issues remain pending. The trial of Dimitris Koutsoulioutsos for felony embezzlement of €2.75 million, following a complaint by the company, was scheduled to be heard yesterday, but there was no progress as… due to time constraints it was postponed to November 23, 2026. The case concerns a complaint by Folli Follie against D. Koutsoulioutsos for felony embezzlement of €2.75 million from the company’s cash and bank accounts in 2018. Indicative of the slowness with which the judicial aspect of the case is proceeding is the fact that there was an interruption at its initial hearing (on December 8, 2025), and now it is being pushed back a full year later…
The other trial yesterday concerned the Court of Appeal regarding the multi-year prison sentences that had been imposed. There, the prosecutor proposed that all objections by the Koutsoulioutsos family against the participation of minority shareholders, the Hellenic Corporation of Assets and Participations (Hyperfund), EOPPY and EFKA in support of the prosecution be rejected. In this way, the prosecutor opposed the defendants’ objection, who seek to exclude minority shareholders from the proceedings, as had happened in the past with Folli Follie itself. This stance opened the way for a substantive presence of small investors in the trial, recognizing their role and legal interest. Immediately after the prosecutorial recommendation, the minority shareholders, through their lawyer, took it a step further, requesting the release of €4 million from an account of Tzortzis Koutsoulioutsos so that these funds be paid to them. The pleadings will continue in the coming days.

Twenty years the “Egnatia Insurance” saga has dragged on
– It was February 2007 when the political leadership of the Ministry of Development at the time, following a recommendation by the Private Insurance Committee, decided to revoke the license of “Egnatia Insurance.” Due to financial problems, the company was unable to cover the solvency margin and the required reserves and shut down. Egnatia AEGA, although it had a checkered past, had managed at that time to gain—by offering the lure of very low premiums—a very large share of the motor insurance market. However, it turned out that it was not meeting the solvency requirements, entered a rehabilitation program, investors were sought, and ultimately it failed and shut down, leaving enormous debts to the state exceeding €350 million. Almost ten years later, in 2016, compensation to its employees was paid, and today, after another decade, liquidation balance sheets were posted on GEMI so that the process can move forward.

BYLOT after almost 27 years for INTRALOT
– The stock market ticker INTRALOT is changing to Bally’s Intralot, as this is its new name, after almost 27 years of trading on the Stock Exchange, since the group entered the Athens Exchange on 03/11/1999. After the deal with Bally’s Interactive, the name change was decided and, by company decision, as of tomorrow, 15/01/2026, its name in the Athens Exchange systems will become Bally’s Intralot S.A. and the OASIS code will change to BYLOT (in Latin characters), from the existing INΛOT.

New executive at the Divani Group
– A new arrival at the Divani hotel group, where Polychronis Griveas assumes the position of Chief Strategy & Business Officer and Group Hotel General Manager. P. Griveas has more than 30 years of international experience in hospitality and tourism, in senior management positions in Greece and the United States. Among other roles, he has served as CEO of Astir Vouliagmenis and the Marina of the landmark complex, as well as an executive at leading international hotel groups such as Foxwoods Resorts, Fairmont Hotels & Resorts and Sofitel Hotels. In his new role, he will be responsible for the strategic direction of the Divani Group, hotel operations and its future development.

TIME on Tsakos (and how he simultaneously monitors 110 ships)
– Tsakos Energy Navigation (TEN) is introducing innovation into every aspect of its operations, leveraging digital technology and artificial intelligence to manage its fleet. At the company’s control center, visitors and partners have often compared the technological infrastructure to NASA’s Houston Space Center, as TIME magazine notes in a special feature on AI and the global industry. From there, TEN executives monitor in real time more than 110 vessels, recording performance, speed and gas emissions, achieving high levels of precision in transport management and coordination. Recent investments in artificial intelligence have further enhanced the efficiency of the operations of the company controlled by Nikos Tsakos, enabling optimization of fleet management and energy consumption on a global scale. TEN is creating a modern operating model in which technology and innovation become key tools for reducing the environmental footprint and improving the efficiency of shipping.

The dottore, green loans, political capital
– Behind the scenes of shipping, loans often speak more clearly than announcements. And the more than €270 million secured by the Grimaldi Group are not simply bank financings for newbuild vessels, but a clear political-economic message: whoever wants to stay in the game must go green—and fast. The three agreements with Intesa Sanpaolo, Bank of China and Crédit Agricole Italia show that major banks have chosen sides. Green shipping is no longer a nice idea for conferences and ESG reports, but a prerequisite for financing. In other words, without batteries, cold ironing and alternative fuels, not a euro. On the street it is said that Emanuele Grimaldi is investing not only in ships, but also in political capital. In a Europe that is constantly tightening the environmental noose and with the IMO raising the bar, the Italian group is making sure to stay one step ahead, with the endorsement of major international banks, from Milan to Beijing. And if the new PCTC vehicle carriers—the so-called Pure Car & Truck Carriers—reduce emissions by up to 50%, at the backstage level they also reduce risk. Because whoever has green ships also has access to green money. And dottore Grimaldi, it seems, has already taken the lead in the race of the green transition.

Ismini Panagiotidi, the split, and her shareholder prestige in New York
– Ismini Panagiotidi made the move that all players in the shipping market were expecting: a one-for-five reverse stock split for Icon Energy. In simple terms, the 3.46 million shares became 692,000, the price per share jumped to $3.22, and the company stayed… in the Nasdaq game. In practice, this move means two things: it ensures that Icon complies with Nasdaq’s minimum $1 price rule and at the same time makes the stock more attractive to investors who until now were watching from afar. What is interesting is that Ismini is following the same recipe used by her brother at Robin Energy: stock splits and buybacks to keep the group’s companies high on American radars. With this tactic, Icon keeps its presence in the U.S. capital market alive.

Which Greek stock rose 1,300% over 27 months?
– Within the coming week, ONYX’s management will announce the completion of the Term Sheet Agreement for financing its ambitious investment plan in Sani, Halkidiki, with €100 million from a Greek banking group. ONYX has announced one of the largest investments in Greek tourism and real estate, on a privately owned area of 650 stremmas in Halkidiki, of which 433 have already been included in the Strategic Investments process and under the Recovery Fund framework. At the same time, according to information, ONYX is in advanced negotiations (having signed a non-disclosure agreement) with a major international hotel group for the management of the project as well as the pre-purchase of villas by the group, a development that will significantly boost liquidity and accelerate implementation timelines. The name of the major hotel group remains confidential for now, but information indicates that it is a “global player with a footprint in the Mediterranean.” The stock of Thessaloniki-based “ONYX Tourism” is recording an impressive performance on the Greek stock exchange. From its entry into the Alternative Market in July 2023 as MED (an underwear company) with a capitalization of just €10.2 million, the stock has skyrocketed to €143 million, posting +1,300% over 27 months. The upward trajectory accelerated after the shift to a tourism vehicle in 2024, with the merger of three real estate companies and the change of name to ONYX. In October 2025, the transfer to the Main Market with an IPO price of €2.50 gave new momentum, with capitalization reaching €170 million in the first sessions.

Everyone is waiting for the correction, but…
– We have reached the point of considering as “low” the trading value of €280.5 million that accompanied yesterday’s corrective move of the General Index (-0.21% at 2,206.3 points). Awaiting the January derivatives expiration on Friday, portfolio restructurings are observed in heavyweights with large gains and even larger promises. The value of pre-arranged block trades exceeded €46.5 million, most of them, of course, in banks. Everyone talks about the necessary correction that is “coming,” but everyone remains in the market for fear of missing the exciting continuation. The six-month extension granted by the Exchange’s management to six listed companies—so that they can “correct” their free float depending on capitalization—removed part of the pressure for quick transfers of blocks in those stocks.

Which stocks took the “baton” from banks on the Athens Exchange
– Essentially, it was a breather for the Athens Exchange, correcting slightly yesterday from 16-year highs, without however falling below the 2,200-point support level. Buyers nevertheless continued to support banks, with the sector index rising to a new 10-year high (November 2015), while Piraeus Bank closed at a 5-year high (March 2021). There were also certain stocks that provided stronger support compared with banks, drastically limiting profit absorption. Yesterday it was HELLENiQ ENERGY’s turn to star, driven by the reopening of Vardax, the Greece–North Macedonia oil pipeline. The stock climbed by 3.75%, its best daily performance of the past four months. It also approached the recent record of €8.83. The next target is €9, a price it has not seen since September 2019. Titan also remained on the “chariot” of records, closing for the first time above €55. At the same time, AVAX touched €3.2 intraday and reached the highest levels of the past 16+ years (December 2009).

Americans don’t learn with cryptocurrencies
– This is yet another case of politicians playing with the crypto-casino. The story is simple and oft-repeated: a memecoin (a meme-based cryptocurrency) is issued by a very well-known figure, shoots up to a $580 million market capitalization and then, within minutes, collapses by -80%, leaving behind $500 million in wreckage. The protagonist: former New York City mayor Eric Adams, a politician already facing criminal charges for bribery and fraud and now active in the cryptocurrency market. Following in the footsteps of Trump and his wife, he created a memecoin (a cryptocurrency with no fundamental value, built around a viral meme) that followed exactly the same path: explosive rise at the beginning, with big gains for the “initiated,” and destruction for those who entered last. Thousands of small investors left their savings on the blockchain. Celebrity memecoins appear to be establishing themselves as the new—painful for many—El Dorado of the internet. It is a market with no rules, no oversight, operating simply on supply and demand. There is no intrinsic value, no supervision—only the dizziness of easy, fast profit. These are “coins” that have only a name, but zero real value.