PASOK: The Downfall of Cooperation…—What Piraeus Heard in Paris—Tips on Plastics of Thrace, Hellenic Petroleum, and the Piraeus Port Authority

GEK Terna’s new record and Hellenic Petroleum’s high. Where does the bar stand for Thrace Plastics? Androulakis’s two-front battle and Diamantopoulou’s messages that cloud the narrative.

PASOK: The Downfall of Cooperation…—What Piraeus Heard in Paris—Tips on Plastics of Thrace, Hellenic Petroleum, and the Piraeus Port Authority

This article is an AI translation of an original piece published in Greek. Read original

ANDROULAKIS: Through a barrage of daily public statements, Nikos Androulakis is trying to drive a wedge into the poll picture that “assigns” the roles of the main electoral duo to Mitsotakis and Tsipras.

Anxiety is mounting at the New Democracy headquarters on Harilaou Trikoupi Street ahead of the new polls currently being conducted to be released at the end of the month—that is, before the polling firms shut down for the summer.

Those familiar with the findings so far report that the order in the rankings remains unchanged, with New Democracy in first place—though still far from securing the full seat bonus—and ELAS in second, with Maria Karystianou’s “Elpida” and PASOK locked in a tight race for third place.

In fact, there is particular anticipation for MRB’s semi-annual “Trends” report, to be released in the coming days, with data expected to significantly curtail the vacation plans of party leaderships…

 

DIAMANTOPOULOU: And while the “green” anxiety is hitting… red, Anna Diamantopoulou made two statements (via Open) that once again clouded PASOK’s election narrative—according to her internal rivals.

The first: “The issue of coalitions—or, to be precise, the issue of how the country will be governed—will be determined by what the Greek people say.” Of course, he has said this before, using Mitterrand’s phrase, “Between ‘before the elections’ and ‘after the elections’ lie the elections, meaning that the ballot box will determine who he will align with (the… entire PASOK or just half of it) and who he will leave behind.

The other: “Yes, our public finances are in good shape, and the country is very well received abroad—I have to admit that—but this economic policy (of the government) affects only 20%.”

And here’s where it gets interesting: Harilaou Trikoupi (once again) ignored Ms. Diamantopoulou’s remarks, but Haris Doukas did not: “The views expressed today by Ms. Diamantopoulou, in which she praises the New Democracy government for its fiscal successes and the country’s image abroad, do not reflect the views of PASOK,” he wrote online.

He added caustically: “After hearing this, I’m not surprised that she finds calls for dialogue within the progressive camp ridiculous.” 

Cooperation? Forget it. And we’re still only in mid-June...

And all this, just as President Nikos was struggling (on SKAI) to respond to Kyriakos Mitsotakis regarding the… “free” issue:

“So, we have the Prime Minister calling the 35 million ‘free’ (for free public transportation for young people up to age 24). Did 30–35 million euros seem like a lot to him? Mr. Mitsotakis is ‘free’ for his political friends, he’s ‘free’ for financial interests, but he’s very expensive for the citizens.”

He went on to explain: “He’s a ‘cheapskate’ because 35 million is nothing compared to the 1 billion fine imposed by OPEKEPE. The 35 million is nothing compared to the ‘golden’ recycling houses, for which we paid five to six times more— —300,000 euros—when we could have paid 50,000 or 60,000 euros (…) and 145 million euros in compensation for delays in expropriations. It’s “a rip-off” when he hands out hundreds of millions through the Recovery Fund to various cronies via token competitive bidding processes.”

Did these remarks dilute the message? We’ll see very soon.

 

PASOK: Consequently, Mr. Androulakis is reviving his confrontational rhetoric in an effort to stem—even if only through emotional appeals—the loss of potential voters to Alexis Tsipras’s new party.

“I wasn’t appointed leader of PASOK by some Mr. Alavanos, nor did my family tradition make me leader of New Democracy; I’ve achieved everything on my own through a great deal of effort and hard work,” he said.

The truth, however, is that his rise to party leadership began when he was promoted to the position of PASOK Secretary-General (in 2013), which allowed him to subsequently “take control” of the party apparatus and then be elected president twice.

“The problem is that in the elections, he will be called upon for the third time to prove his leadership as a contender for the premiership—and not his ability to infiltrate the party apparatus,” as many within PASOK, now deeply concerned, are quietly murmuring…

 

PARLIAMENT: And what won’t the governing majority do to secure 180 “yes” votes on any of the articles of the Constitution under revision, given the opposition’s (and especially PASOK’s) decision to leave the matter of maximum consensus in Parliament to the next election.

The subject of discussion at yesterday’s meeting of the Parliament’s Constitutional Committee was the infamous “Article 16” concerning universities. There, New Democracy rapporteur Evripidis Stylianidis proposed adding to the second paragraph of the article in question “the protection of the Greek flag as a timeless symbol of the nation and Greek culture.” With the unspoken reasoning that this cannot be done—and that, for this reason at least, there will be an increased majority.

The “not now the 180 votes” stance, however, does not appear to be wavering, while regarding the substance of the article, PASOK spokesperson Nadia Giannakopoulou articulated her party’s expected semi-agreement: “Strong public universities—yes to non-state, non-profit institutions—no to private, for-profit ones.”

But as we’ve said, the decisions will come after the election…

 

TSIPRAS: Alexis Tsipras adhered to the unwritten rule that political figures, upon assuming a central role, must make their first “trip abroad” to Cyprus—a rule he observed in his new capacity as president of a new party.

And not only that: he combined this trip with his decision to hold the third consecutive International Conference of the “Alexis Tsipras Institute,” on the theme of Peace and Social Justice in an era of multiple crises.

Prominent figures spoke during the all-day proceedings of the conference, including Professor of Economics Thomas Piketty, the former President of the Chilean Chamber of Deputies and former Minister of Defense, Maya Allende, and the Chair of the Committee on Foreign Affairs, Sameh Shoukry.

The “Prespa Peace Prize” was awarded to Orly Noy, journalist and president of B’Tselem (Israel), Christos Georgalas, Professor of Surgery at the University of Nicosia; and Konstantia Karydi, an anesthesiologist.

When asked at the conclusion of the proceedings, during a discussion with AKEL Secretary-General Stefanos Stefanou, what the purpose of the newly formed Greek Left Alliance (ELAS) is, Mr. Tsipras replied: “We want to represent the working class and those who are struggling, for the benefit of the overwhelming majority of society,” and, after reiterating his position on taxing great wealth, he emphasized:

“What we are bringing is hope and a new vision.”

 

PLASTIKA THRAKIS: The publicly traded company announces its key figures for the first quarter of the year before the market opens.

Eurobank Equities forecasts revenue of 105.6 million euros (+9.5% year-over-year) and EBITDA of 13 million euros (+43% year-over-year), in line with management’s guidance for a significant improvement in operating profitability. At the same time, the initial contribution from the acquisition of BHA Australia, which was completed in February 2026, will be reflected in the results.

The brokerage firm expects net profits of 4 million euros to be announced, compared to 0.5 million euros in the first quarter of 2025.

 

GEK TERNA: The stock hit a new record high during yesterday’s trading session in the wake of the General Meeting and George Peristeris’s remarks regarding the listed company’s plans.

The stock (also) broke through the 46-euro barrier (closing at 46.06, up 3.27%), while market capitalization reached 4.76 billion euros. Trading volume reached 18.9 million euros, thanks in part to three block trades totaling 5.9 million euros.

The group’s CEO highlighted the strong liquidity, which allows for new investments.

 

PPA: The Piraeus Port Authority stock broke its three-session losing streak yesterday.

It rebounded above 39 euros (closing at 39.05 euros, or 4.13% higher), though trading was subdued, with shares worth 217 thousand euros changing hands.

 

ATTICA GROUP: The sharp drop in oil prices was one factor, but the announcement of preliminary discussions regarding the listed company’s future had a much greater impact, and the stock took off.

It closed at 1.8 euros, up 12.5%, with trading volume worth 573 thousand euros.

The persistent rumors about Antenna and Qatari investors that have been circulating for months fueled investor interest.

P.S.: Attica Holdings’ key role in the maritime network and in connecting Greece with its islands will almost certainly require the involvement of Greek business interests, given its role in the country’s defense planning.

 

AKTOR: This column has learned that the group has more than one business deal in the works. However, no matter how hard we tried, we were unable to uncover any further details.

On the stock market, following yesterday’s explosive rally, there was limited profit-taking. The stock closed at 10.94 euros, down 1.8%. Trading volume was high for the second consecutive day.

More than 545,000 shares changed hands.

  

HELLENIQ ENERGY: The stock climbed to a new 18-year high of 10.93 euros, posting impressive gains of 5.2%.

The stock is in the spotlight following the latest developments on the hydrocarbons front, with Chevron entering as a contractor in Block 10 in the Ionian Sea.

Since the start of the war in the Persian Gulf, the stock has risen by more than 27%.

At the same time yesterday, the other refinery on the board, Motor Oil, posted losses of 1.6% to 37.9 euros, with gains since the start of the war exceeding 10%.

 

ROADSHOW: Piraeus Bank was particularly active at the Greek Investors Day organized by BNP Paribas in Paris.

As part of the event, meetings were held with fifteen leading institutional investors from France, the United Kingdom, and the U.S.

Discussions focused on the bank’s growth figures, revenue trends, the momentum of National Insurance, and digital transformation.

Strong asset quality, growth in fee and commission income, and the prospects for credit expansion emerged as key investment arguments for the bank’s management.

 

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