Deep Political and Social Crisis: The Beef Between Samaras and Venizelos, New Growth Sectors, and Critical Minerals

The political system is in deep crisis… While public interest may focus on the battle for second place between PASOK and Freedom Coalition or the decline of ND percentages, the real issue lies in the fragmentation of the political system. The government has given society many rights but now faces significant opposition. Meanwhile, PASOK struggles, SYRIZA has dissolved into its constituent parts, and no one knows what the future holds amidst global uncertainty. Society is disillusioned with both the government and the opposition, creating an unstable environment. Additionally, the longstanding alliance between Samaras and Venizelos has turned sour, with Venizelos advising Samaras to adopt a more progressive approach, which Samaras strongly rejects. Amidst this turmoil, Greece’s new growth sectors include construction, energy, and technology, driven by European initiatives. Furthermore, Greece possesses critical minerals such as bauxite, nickel, cobalt, magnesium, and high-quality sulfur ore, although the mining sector has faced challenges due to deregulation. Infrastructure projects like the Athens-Pyrgos highway and the Thessaloniki Metro expansion continue despite controversies, while Terna’s projects are nearing completion. In financial markets, GEK Terna’s inclusion in the FTSE/Russell Large Cap index could attract additional inflows. Meanwhile, the Public Debt Management Agency (ODDHE) has successfully covered nearly 90% of its annual program, potentially allowing it to return to markets if conditions permit.