The flight of industries or why we have underestimated Europe’s problems The good progress of the Greek economy, which may not have been reflected in the pockets of all Greeks but is reflected in the indicators that foreign investors study, covers the extremely unpleasant image of Europe and the serious problems in Germany and France. Add the problem of the direction of the European Union precisely because the Franco-German axis is crooked and you have a very explosive mix. And the waste from this wave of twists in Europe can strike as a tsunami and Greece. The people of industry, for example, argue that the Commission’s “dark” function, which does not allow key initiatives to reduce energy costs, already cost thousands of jobs in Europe after industries move production to the US or another. Do you think Greece will for a long time remain immune to the movement virus across the Atlantic? To study more the movements of some powerful industries. The head of one of these industries was recently regretting that instead of choosing the American stock exchange he introduced the shares of the group into a Western European market (not London to avoid confusion). Is it accidental that the Titan administration preferred the American stock market? Especially now that Donald Trump promises more business-friendly policy, within the US, even more Europeans may think about moving. The Greek industrialists see the speculation as the main cause of the rise in gas prices the president of the industrial union EVIKEN, Antonis Contoleons. In recent statements he stressed that the stock market in the Netherlands, the so-called TTF, is not controlled: “There are uncontrollable players and they are not consumers, i.e. it becomes a spore. The configuration in large percentage is a game. If the weather is heavy in Europe, this can affect the price by 2-3 euros, but everything else is toys. 5% of European supplies cut by Ukraine are not a significant percentage and had been discounted. However, it was heavily aired and exploited by speculators. In any case, the Greek industry has no alternatives and will continue to consume electricity and natural gas.” Perhaps with some investments it could limit the dependence on imported energy, Mr President. We’ve rewritten them! Investors from Qatar and Costa Navarino A few weeks ago had released rumours that proved to be rumours that the Constantakopoulos family is discussing selling the Costa Navarino tourist complex to foreign investors. The column had since the first moment argued that the strategic investor search scenario for TEMES, the tourist arm of the Constantakopoulos Group as it has in front of it a very large investment program not only in Costa Navarino but also in Greek. In Greek he prepares two tourist complexes that will include residences. At that time the name of Qatar’s state investment fund had also been released as a candidate investor. It seems that this information is based on and that there are indeed discussions, without this being translated into “the sale of Costa Navarino” as written. The case with Viva will go away. You’ll read yesterday’s J.P. lawsuits. Morgan against Werealize.com, members of Viva Wallet’s board of directors including the principal shareholders of the last Harry Karoni. It is recalled that Karonis has also taken legal action against the American banking colossus that Viva Wallet had acquired a few years ago. From the first moment the relations of both sides, Karonis and Americans, were difficult and as the months went by they were even harder. J. P. Morgan’s e-payments officers probably didn’t know that H. Karonis didn’t testify easily. The businessman, who has hired one of the most well-known law firms internationally, went on to make careful statements yesterday at Bloomberg’s agency although he spoke of “intimidating” the members of Viva Wallet’s Board. He also repeated what he has said in recent months, and in the courts, about the obstacles that J. P. Morgan put in place at Viva Wallet’s entry into the American market. Looks like the court case will last years. Annotation: All J. P. Morgan executives directly involved in the deal are no longer working in the American group! The Court of Auditors and the Recovery Fund were reading the columns of the Court of Auditors which published yesterday a report on the Recovery and Durability Fund (TAA). People didn’t have to read to us after checking and studying the evidence of the course of the critical program ending in August 2026. The report confirms what we write about the inadequate timetables, the inadequate implementation by the state bodies of the monitoring and implementation procedures of the projects, the understretching of these bodies, resulting in delays in the preparation of projects and programmes. The column has pointed out in addition to the negative and positive initiatives taken at this time at the highest government level, i.e. the Prime Minister’s Office, in order to mobilise the state apparatus and not endanger the country by losing valuable funds of the Recovery Fund. Faster electronic auctions are coming for the beaches After last year’s successful implementation of the new electronic auction system of the Aegean Sea, new changes are coming. According to the information in the column, these changes will have to do with the timing of the auctions. Specifically, this time is planned by the financial staff to speed up, so that all processes for the economic exploitation of the beaches will run faster, which is extremely critical for next summer, as it is expected even more “hot” from a tourist point of view for Greece. However, it remains to be seen whether the government will take the necessary measures at other levels too, not closely economically, in order to support, in terms of public infrastructure, the expected tourist wave. Prebutting new price increases? In yesterday’s column we expressed concern that the upward trends recorded in December in energy prices “cancell” food reductions in the near future. But concern is not just about food. Before alector talks three times, Eurostat’s communication on producer prices in industry in the last month of 2024 shows that new pressures are accumulating that will lead to new increases in goods that we all consume. In fact, while the consumer price index for industrial goods fell in December, the producer price index, i.e. the wholesale prices sold by the producer to the intermediaries and before reaching the retail shelf, increased by 0.2% annually, for the first time after 21 months of continuous reductions! Due to the forward nature of the producer price index, the reversal of the downward trend is expected to reflect, in part or in total, on what the consumer will soon pay to buy these industrial goods from the stores. These products include everything except construction materials, waste and waste management and other very specialized product categories. In short, and if and when this trend continues, statistics give us clear indications that in the coming months we should expect new increases in consumer goods of all kinds, with the cost of energy that these industries pay to produce their products to always be a factor that threatens with further pressure. The “City of the Future” by Toyota While we are dealing with the three lakes under Kifissos, Japanese Toyota announced on Tuesday (January 7th) that the first inhabitants will start moving to the futuristic city that it has built on the outskirts of Mount Fuji. It is Woven City (“City of the Future”, “Interconnected City” is two of the translations) in which 100 people, former and current Toyota employees with their families will initially move. Later the city’s population will increase to 2,000 inhabitants. What will be tested in the new city? The president of the Japanese group Akio Toyoda said innovations will be tested in the movement of people and products and information as well as energy infrastructure. He cited the example of a wheelchair that would develop greater speeds because “all must experience the fastest journey” or drones that will be able to accompany children and older people to their homes at night for safety reasons. He talked about robots – pets that will provide services to elderly people, about flying cars, etc. All for Woven City then!
The risk of industries leaving Greece and the spectre with international gas prices Qatar and CostaNavarino comes a long-term court struggle J.P. Morgan H. Karoni and the new concerns about the Recovery Fund
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