CRIMINAL RECORD: In the year 2026, a businessman who is a friend of this column has requested a copy of his criminal record and has been waiting for it on his (digital, of course, of course) headset for… 25 days.
In fact, from what we’ve learned after digging a little deeper, he’s not the only one—he’s just one of… many.
In such a long period of time, of course, he and the others who have been waiting for so long would have received it even under the old manual system!
The best part, however, is that Giorgos Floridis’s Ministry of Justice announced some time ago with great fanfare that: “As part of the Digital Transformation of Justice (e-Justice), we would like to inform you that the upgraded National Criminal Records system will go live on Monday, May 11, 2026, at 9:00 a.m.”.
In other words, the digital system that takes a month to issue a criminal record copy to Greek citizens is not the old one—which, if our memory serves us correctly, was developed back in 2014 by Unisystems in collaboration with Singular Logic.
It is the new and upgraded system, which recently went live and cost around 11.5 million euros, as part of a “Set of Measures to Strengthen the National Criminal Record Information System and Further Expand Its Services.”
Admittedly, a tremendous upgrade.
We doubt, however, that the minister in charge, Floridis, has even noticed it. How could the man possibly find time to deal with secondary issues, such as serving the public?
He’s too busy with matters of high politics—such as the ongoing… tightening of penalties—to concern himself with those who have a clean criminal record.
NEW DEMOCRACY: Yesterday was not a good day at all for the ruling party, as within a few hours it faced both a court ruling (regarding Anna Michelle Asimakopoulou) and a European arrest warrant (for Dimitris Avramopoulos).
Let’s take them in order:
When absentee voting was introduced for the European elections for Greeks living abroad, the 25,500 expatriates concerned sent their personal information—email addresses, phone numbers, addresses, etc.—to the Ministry of the Interior. This information was leaked to Anna Michelle Asimakopoulou, then a New Democracy candidate for the European Parliament, so that she could expand her election campaign.
Both she and the relevant ministry officials were convicted yesterday for this conspiracy.
Government spokesperson Pavlos Marinakis argued that the electoral process was not compromised “just because an email was sent,” to which PASOK rightly replied: “They were not convicted for an email but for the leak of personal data belonging to 25,500 expatriates.”
Ms. Asimakopoulou herself, when the data leak scandal broke, publicly asked: “Well, what am I supposed to do—grab a megaphone and go to Australia to speak to the Greek expatriates?”
But that’s the point: the personal data of expatriate voters was selectively leaked to her, so, by her own logic, all European Parliament candidates from all parties would have to go to Australia (and elsewhere) with… megaphones.
As for the former minister and former Commissioner? The bombshell that dropped yesterday read: “Issuance by Belgian authorities of a European arrest warrant against former Migration Commissioner Dimitris Avramopoulos” in connection with the Qatargate case. You know, the case that sent Eva Kaili to prison (she has since been released and is awaiting trial) for accepting bribes from Qatar to advance its interests.
Mr. Avramopoulos denies any involvement and has stated that he will agree to the lifting of his parliamentary immunity so that he can stand trial.
We do not know, of course, how the case will unfold, but according to experienced parliamentary observers, the special debate in Parliament on the lifting of his immunity will bring Mr. Avramopoulos to the floor of the Plenary. This is an extremely rare move, as he is considered one of the most reticent members of Parliament…
P.S. Add to that the remaining open cases involving OPEKEPE, wiretapping, and the… rest, and the bottom line is that many (legal) clouds are gathering over the government’s horizon—and this is not exactly the most pleasant situation for the prime minister, just a few months before the election.
P.S. II: In any case, following the above developments, the chances of seeing those two names on the ballots for the upcoming elections are dwindling...
KAKEPAKIS: And the name of this company is FL Forwarding Agency Holdings Single-Member S.A. The company was established with a share capital of 5.65 million euros, which was paid in full through a contribution in kind by the sole shareholder and chairman of the company, Emmanouil Kakepakis.
The new company, headquartered in Piraeus, was not established for commercial activity but as a holding and investment vehicle, with the purpose of managing portfolios, holdings, and investments in stocks, securities, and real estate.
INVESTMENTS: The food industry company Condito and WATT received the green light to join the Development Fund. The former’s investment amounts to 8.24 million euros, and the plan involves expanding production capacity for mustard, mayonnaise, and related products at the Sindos Industrial Park.
The investment by WATT S.A., a company active in environmental projects, is for the creation of a new production facility for biological treatment equipment at the Keratea Industrial Park.
The investment plan amounts to 2.75 million euros.
REORGANIZATION: Yet another company is seeking a second chance through the new reorganization framework of the Bankruptcy Code. The company in question is “Ionia Ktimatiki S.A.,” headquartered in Chios, which, as this column has learned, an application with the Chios Multi-Member Court of First Instance to ratify a restructuring agreement involving the transfer of assets, with the hearing scheduled for September 16.
According to the application, the agreement has already been approved by creditors representing 99.93% of total claims, as well as 100% of preferred and affected claims.
STATHOPOULOS: Nikos Stathopoulos’s remarks at the Superfund conference caused a stir in the market.
The head of BC Partners argued that private equity funds are currently buying at significantly lower prices than two years ago, citing a two- to threefold decline in EBITDA multiples.
The statement did not go unnoticed. This is because, a short while later, a well-known dealmaker in the market commented pointedly: “I haven’t seen them buying anything cheaper than they used to.” He implied that theories about a significant correction in valuations are not being confirmed, at least in the Greek market.
Perhaps that is the crux of the matter. In Greece, transactions seem to follow their own logic. Limited supply, high liquidity, and the reluctance of many business owners to sell at lower prices are keeping prices high.
Of course, the actual valuation is what’s written in the contract.
SUPER FUND: A large crowd, a buzz of activity, and plenty of discussions in the breakout sessions at yesterday’s Super Fund conference, which managed to bring together nearly the entire cream of the market. From ministers and bankers to dealmakers, investors, consultants, and business executives looking for the next big project.
Beyond the public statements, the real interest was in the hallways. That’s where discussions took place about the Superfund’s new investments, the ports, the salt flats, the Thriassio project, the funds, the valuations, and, of course, the upcoming deals that appear to be taking shape in the market.
Yannis Papachristou set the tone for the following day, describing a Superfund that aspires to evolve from a state asset manager into the country’s investment arm.
With a project pipeline exceeding 10 billion euros, more than 850 tenders, and new investments through the HIIF in digital infrastructure, energy, and biotechnology, the message was that the next phase involves generating new investments and not just leveraging existing assets.
REAL ESTATE: A new corporate registration with the General Commercial Registry (GEMI) caught the market’s attention. COSMOS PORT Single-Member S.A. was established with a capital of 1.2 million euros and Cosmos Developments as its sole shareholder, with the purpose of developing and managing real estate.
The first Board of Directors includes Nikolaos Bakos and Alexandra Kaumenaki, members of the younger generation of well-known shipping families.
Developments are eagerly anticipated.
FRAPORT: Yesterday was undoubtedly a good day for Fraport, as the agreement was signed to grant the concession for Kalamata Airport to the investment consortium comprising the Fraport, Konstantakopoulos, and Kopelouzos groups.
Such was the joy of the CEO of Fraport Greece and Kalamata Airport S.A., Alexander Zinell, was so great that after the signing, he didn’t even hesitate to get down on one knee in the room just to take a selfie with the other… co-signers.
However, during the panel discussion in which the CEO of Fraport Greece participated, he raised the issue of saturation at some of the country’s tourist destinations. As he put it, “some of our destinations are reaching the limits of their infrastructure.”
The talk is of overtourism…
STOCK MARKET: Euronext Athens reached yet another milestone yesterday. The General Index surpassed 2,500 points, closing at levels that mark a new 199-month high, with the previous highest close recorded on November 18, 2009, at 2,528.95 points.
At the same time, the banking index continued its impressive run, reaching a 127-month high, with the next-highest closing level dating back to November 16, 2015.
The four systemic banks topped the trading volume rankings, combining high trading volumes with positive returns. Eurobank closed at 4.33 euros, up 2.15%, with a trading volume of 21.5 million euros; National Bank of Greece at 15.70 euros, up 1.26%, with trading volume exceeding 27 million euros, Piraeus Bank at 9.47 euros (+1.28%), and Alpha Bank at 4.152 euros (+1.12%).
Among non-bank blue chips, GEK TERNA stood out, closing at 46.50 euros, up 2.02%, with a trading volume of 11.5 million euros, confirming the momentum it has built up recently. DEI also traded higher at 23.12 euros (+0.87%) and Metlen at 42.08 euros (+1.11%), contributing to the broader upward trend.
It is worth noting that of the ten stocks with the highest trading volume, seven closed in positive territory...
VIOHALCO: However, the largest percentage gains were achieved by the industrial group. Neither the dividend cut nor the high gains from previous trading sessions were enough to halt the rally of the parent company and its subsidiaries.
Elvalhalcor (which yesterday cut its dividend by 0.11 euros per share) led the way, closing at 5.72 euros—up 7.72%—with trading volume at 5.1 million euros. In the two trading sessions following the announcement of the General Meeting convened to approve a capital increase of up to 300 million euros, the stock has posted cumulative gains of 23%, while its market capitalization has reached 2.15 billion euros.
Since the beginning of the year, the stock’s return has soared to 52.1%.
The parent company closed at 21.85 euros, up 4.3%, while shares worth 4.8 million euros changed hands. The icing on the cake was the private placement conducted at Cenergy after the market closed. This widened the stock’s float by nearly 3% and raised significant liquidity (around 145 million euros), presumably in anticipation of the capital increase at Elvalhalcor.
Note that Viohalco is also receiving approximately 35 million euros from the dividend Elvalhalcor declared yesterday.
AKTOR: On Thursday morning, this column reported market rumors that the group has more than one business deal in the works. Since then, the stock has gained 13.9% over three trading sessions. Yesterday’s closing price was 12.46 euros (+3.83%).
Trading volume reached 6.35 million euros.
GEK TERNA: Integrated Resort Complex Elliniko is proceeding with an amendment to the construction contract for the hotel, casino, and conference center complex with TERNA.
As a result of this move, the credit agreement signed with its shareholders (Hard Rock 51%, GEKTERNA 49%), the direct construction contract, the operating contract, and the agreements with the banks regarding two bond issues (editor’s note: amounting to 725.15 million euros and 475 million euros, respectively).