TRUMP: While the markets and several governments around the world may have breathed a sigh of relief following the MOU that appears to be capable of ending the crisis and the blockade of the Strait of Hormuz, the more… humorous among us are looking for something else.
Was Emmanuel Macron’s decision to welcome Donald Trump to Versailles, just as the memorandum with Iran was being politically sealed (and the electronic signatures were being entered), simply a display of French grandeur—or a major...troll aimed at the American president, who, as is well known, does not have the best relationship with history.
Because Versailles is not just a palace. It was there, after the end of World War I, that the treaty was signed which sealed Germany’s defeat, under terms that were harsh and humiliating for the vanquished.
The international community’s relief is understandable. Yet another protracted crisis in the Persian Gulf, with the Strait of Hormuz blocked, could trigger even more serious energy and economic turmoil.
Behind the sighs of relief, however, most analyses agree that the memorandum bears no resemblance to an American triumph. On the contrary, it appears to clearly favor Tehran’s position, as Washington simply had no better options left.
TRUMP II: Indeed, many point out that the agreement significantly elevates Iran’s role in the region and in the Strait of Hormuz, offers it significant economic relief, and, above all, that it fails to achieve any of the war’s core objectives, as Trump himself described them when he launched the war last March.
In short, regardless of the relief—and the hope that the agreement will hold—in both the West and the East, politically speaking, the MoU can hardly be presented as a victory for Trump himself. It looks more like a standard... capitulation.
A capitulation which, according to some American analysts, could have serious geopolitical consequences not only for the U.S. but also for Israel.
It is no coincidence that the prestigious American magazine *Foreign Policy* published a lengthy article titled “Iran Is a Bigger Defeat Than Vietnam,” which argues that a war of Trump’s choosing has turned into a strategic disaster for Washington.
So the question that remains is whether Macron chose Versailles for this very reason, setting a symbolic trap for the American president, or whether he simply failed to realize just how poisonous the historical parallel could become.
P.S.: Iran’s Supreme Leader Mojtaba Khamenei also twisted the knife in President Trump’s wound yesterday, stating that “it was the American president who, out of desperation, used every kind of leverage to secure the memorandum of understanding.”
PASOK: Charilaos Trikoupis’s insistence on maintaining an equal distance from problems and opponents is becoming legendary. Until now, she’s chosen to take a two-pronged approach against Mitsotakis and Tsipras (and it hasn’t served her well in the polls…), but now she’s doing the same within her own party: Yes, we disagree with what Anna Diamantopoulou said (regarding the government’s sound fiscal policy), but we equally disagree with Haris Doukas (“the above position does not reflect PASOK’s views”).
Of course, no official statement was issued by the party, but the party’s new secretary, Yannis Vardakastanis, took this… middle ground.
Why try to straddle two sides? It is well known that the leadership believes Ms. Diamantopoulou’s center-right perspective can retain like-minded voters who are turning to PASOK, preventing them from returning to New Democracy. That is why—as those in the know say —Nikos Androulakis decided to include Ms. Diamantopoulou on the ballot for the Southern Athens District (instead of Thessaloniki, as was initially planned) to prevent this voter base from shifting toward the “blue” camp, now a candidate, Andreas Loverdos.
So far, however, even this strategy isn’t paying off in the polls…
On the other hand, the PASOK leadership is “cracking down” on any center-left references (such as those made by Doukas) to progressive alliances, because Tsipras’s newly formed ELAS is lying in wait to “snatch up” voters who agree with such a prospect.
The factor that has… even baffled PASOK officials is the “neutral stance” taken in response to Doukas’s observation that Diamantopoulou’s position does not represent PASOK. “So, do they represent us?” they wonder—and not just rhetorically.
The same officials (whether from one side or the other) are warning the party leadership at Harilaou Trikoupi that anyone who tries to straddle two boats… will be swallowed by the sea.
Or as the party’s MP Evangelia Liakouli put it: “PASOK has seven lives, but we don’t need to use up all seven of them”…
REAL ESTATE: A new company active in construction and real estate development is making its debut on the market. GSK CONSTRUCTION & DEVELOPMENT I.K.E. was founded in Halandri with an initial capital of 500,000 euros, investing in a wide range of services covering both the construction sector and real estate.
The business venture of brothers Georgios, Stylianos, and Konstantinos Karageorgos is active in everything from the construction and renovation of buildings to property management, short-term leases, technical studies, and the development of investment projects.
REAL ESTATE II: With capital of 1.5 million euros, entrepreneur Christos Pantazis established TAXIARCHIS Real Estate, expanding his presence in the real estate sector. The company, headquartered in Argyroupoli, focuses on real estate management and operation, with its core business being the leasing of owned or leased properties.
SUPERNOVA: The new company of entrepreneur George Kafiris has a capital of 25.83 million euros, consolidating his stake in Electromec under a single entity. Supernova Energy Holding Single-Member I.K.E. was established as a holding company, with the majority of its capital coming from a contribution of shares rather than cash. Specifically, 6,960 shares of Electromec were contributed, representing 24.17% of the company’s share capital. According to a valuation by Kreston Greece, the value of the stake amounts to 25.81 million euros, valuing Electromec at a total of 106.8 million euros.
BIOTECHNOLOGY: A new company in the health and biotechnology sector has been established in Florina. The company is Integrated Diagnostics Labs S.A., with a capital of 600,000 euros and Ertan Sipahioğlu as the majority shareholder, holding 50% of the share capital.
Other shareholders include Margarita Koutsoumpi with 25%, Christos Pavlidis with 17%, and Lazaros Lavasidis with 8%.
Margarita Koutsoumpi will serve as chair of the first board of directors, and Dimitrios Agkas will serve as CEO.
EUMORFIDIS: A new investment in the tourism sector is underway in Monemvasia through the establishment of D.A. Efmorfidis Single-Member I.K.E., which began operations on June 12, 2026, with an initial capital of 200,000 euros. Its founder is Dimitrios Alexandros Efmoridis. The company is headquartered in Xifias, Ambelia, Monemvasia, and is active in the development and construction of building facilities, while also expanding into the provision of short-term tourist accommodation services.
DUTY FREE: Duty-Free Shops S.A. (KAE) is proceeding with the expansion of its retail spaces at Athens International Airport “Eleftherios Venizelos,” following approval from the Independent Authority for Public Revenue (IAPR). The decision concerns the expansion of the Duty-Free, Duty-Exempt, and Taxed Goods Store in the airport’s Satellite Terminal, adding 73.4 square meters of new retail space. With this addition, the total floor space of the company’s stores at this terminal now stands at 476.7 square meters.
INVESTMENT: One of the largest investments approved under the “Manufacturing – Supply Chain” program involves the company “Kyriakidis Vasileios S.A.,” which operates in the flat glass forming and processing sector. The investment involves expanding the capacity of the existing flat glass shaping and processing plant in the Sindos Industrial Park (Municipality of Delta), with total eligible and subsidized costs of 8,615,941.37 euros. The final aid intensity for eligible regional costs amounts to 60%, consisting of a base rate of 50% and a 10% bonus due to the company’s SME status. However, the requested grant rate was set at 48% of the total investment cost, resulting in a final aid amount of 4.14 million euros.
CENTRIC: The Board of Directors is proposing to shareholders that the listed company’s corporate purpose be expanded to include the provision of (various other) support services to affiliated and non-affiliated companies.
In addition, it is proposed to specify the corporate purpose with regard to the management of movable and immovable property. It should be noted that Centric’s primary revenue comes from the performance of its investment portfolio.
EUROBANK: The bank is proceeding with the energy-efficiency and aesthetic renovation of the building complex it owns in Alimos (editor’s note: the former Famar headquarters), with the aim of creating a unified complex. The estimated budget for the project, excluding VAT, is 25.12 million euros, while Grivalia Development will serve as project manager for a maximum fee of 725.8 thousand euros (2.9% of the estimated capex)
CREDIABANK: Heavy trading volumes are expected at the close of the trading session for the bank, which is at the center of the rebalancing by Stoxx and FTSE.
It should be noted that, starting Monday, CrediaBank will be included in the following indices: STOXX Greece, STOXX Developed and Emerging Markets, STOXX Emerging Markets, STOXX Eastern Europe, STOXX Balkan, STOXX All Europe, and STOXX Global Total Market. ELLAKTOR is being removed from these indices.
The 5th cluster is also a key player in the changes to the FTSE 25 index. With its inclusion in this cluster, Sarantis’s stock is being “downgraded.”
CrediaBank closed yesterday at 24.62 euros (+3.36%), while over the past 30 days it has recorded marginal losses.
HELLENIQ ENERGY: The stock saw a marginal gain yesterday following a strong two-day rally. The stock tested even higher levels (reaching as high as 11.36 euros, or +3.93%) and ultimately closed at 10.97 euros, with trading volume reaching 7.5 million euros.
Over the past three days, the stock’s return approached 8%, even though international developments were not in its favor…
AKTOR: In contrast, the construction group’s stock, which also led the market in terms of performance over the past 24 hours, showed “strength.” Although it briefly turned negative during the session, it managed to close at the day’s high of 11.6 euros, with a return of 6.03%.
This column reported yesterday that more than one corporate move is expected.
THRACE PLASTICS: With a 4% year-over-year increase in sales, the Thrace Plastics Group reported a nearly 30% rise in gross margin in the first quarter (gross margin of 24.4% up from 19.6%). The adjusted EBITDA margin jumped to 15.1% from 9.7%, and the net profit margin to 5.3% from 0.6%. The improvement came mainly from the packaging segment, whose sales reached 40 million euros in the first quarter, with gross profit at 11.8 million euros (Q1 2025 sales: 33.9 million euros; gross profit: 7.1 million euros). EBITDA for the packaging division amounted to 9.2 million euros, far exceeding that of the technical textiles division (6.2 million euros).
P.S. Yesterday, the stock closed at 4.51 euros, with gains of 3.8% and trading volume of 561 thousand euros. The year-to-date high of 4.57 euros was reached on June 9.