The Greek economy is going to pass through important milestones by the end of June despite the pause that has been "pressed" on government work due to the second elections.
Following a decision by the Belgian judge, the measure of electronic surveillance of Eva Kaili is conditionally lifted. These terms came into effect on May 25th and will expire on August 25th unless extended or amended.
The composition of a caretaker Cabinet was announced on Thursday, ahead of the June 25 general election.
He had been attracting investors since late 2013. He promised them returns of 5% per month with risk-free trading and a minimum investment of £100,000. He himself with his personal property – he told them – would guarantee their money.
This concrns 41-year-old Anthony Constantinou, a Greek-born tycoon who was recently convicted after being found guilty of 7 counts of fraud and money laundering after a trial that lasted almost two months.
According to Bloomberg, as it turned out the reality was very different: In the offices of the trading company he ran (Capital World Markets) on the 21st floor of a skyscraper in the City of London, the charts on his traders' computer screens were fake, as were the claims surrounding his wealth. The police raid took place on March 3, 2015, following a message from a former employee who alerted authorities to the risk of the "pyramid" collapsing.
Constantinou's defiantly lavish lifestyle (he had married his wife in a $3.1 million ceremony in Santorini, with guests flown in by private jet) was financed by money put into his company by small investors. The amount of the "pyramid" fraud is estimated at 70 million British pounds.
He disappeared during his trial. Weeks later he was arrested in Bulgaria carrying forged documents, but was released and is still on the lamb.
Constantinou's company sought out clients at conferences and among acquaintances, to whom he "sold" investments they did not understand.
Prime Minister Kyriakos Mitsotakis didn't just defy pollsters with his sweeping election victory in Greece on Sunday. He also broke through the barriers that his main political opponent tried to put up against him, according to a Bloomberg analysis of the elections held in Greece.
The New York Post gives a "vote of confidence" in Greece for holidays in 2023 in its recent extensive article.
An analysis by Goldman Sachs focuses on the reaction of banking stocks after the victory of New Democracy in the elections, pointing out that the shares of Greek banks strengthened by 13%, while bond yields took the opposite direction, with those of AT1 falling by 30 – 50 basis points and the senior preferred bonds by approximately 10 – 20 basis points.
The policy of provocations is continued by Turkish officials. Mevlut Cavusoglu chose to add fuel to the fire after the formation of the great victory of New Democracy in the elections.
"Greek stocks and government bonds rally at the open as Prime Minister Kyriakos Mitsotakis secured surprisingly strong support in Sunday's election, fueling optimism for market-friendly reforms." With these words, Bloomberg comments on the market's reaction to the election results.
The publication highlights that the centre-right New Democracy of Prime Minister Kyriakos Mitsotakis received almost 41% of the vote against around 20% of the left-wing SYRIZA party of former Prime Minister Alexis Tsipras. "While he failed to secure a majority in parliament, analysts are confident he will secure a one-party government in about a month, when new elections are expected to be held."
The Athens Stock Exchange's General Index rose as much as 6.7% early Monday, extending 2023 gains to 29%.
Bloomberg writes that the election was seen by analysts and investors as the last obstacle standing in the nation's path to regaining the investment grade it lost 13 years ago, and a Mitsotakis victory was seen as the most market-friendly outcome. In 2022, Greece's debt to GDP ratio fell faster than any other European country.
"The vote result puts Greece firmly on track to secure investment grade, possibly before the end of the year," commented Wolfango Piccoli, co-chairman of Teneo Intelligence in London. "While such an upgrade is largely discounted by investors, it will be an important moment as a stigma that has existed since late 2010 will disappear."
The yield on Greece's 10-year government bond fell about 9 basis points to 3.933%. The rate fell more than 100 basis points from last year's high, narrowing the spread significantly to 1.45.
Over 20 points is the difference between New Democracy and SYRIZA based on the first estimate of the final result by the Ministry of the Interior in 40% of the Territory.
Incumbent New Democracy (ND) appears set for a first-past-the-poll showing in Sunday’s Greek general election, with the first exit poll results presented by the country’s most popular broadcaster, Mega Channel, showing the center-right party with a projected 36 percent to 40 percent of the vote.
The voting of Greeks abroad for the parliamentary elections has been completed. So far the Ministry of the Interior has an image of their participation in the polls until midnight on Saturday (Greece time) for all countries where electoral divisions were set up except the USA and Canada, as due to a large time difference the electoral process there was ongoing until the morning hours.
In particular, out of 20,970 registered, 16,827 voted and 4,143 abstained. That is, the participation rate (excluding USA - Canada) was 80.2%.
Of the approximately 170,000 Greeks who live permanently in the United Kingdom, they finally managed to register 4,876 people on the special electoral rolls. This is the majority of Greeks abroad, not only in percentage but also in absolute number, who declared that they want to vote in their place of residence.
The vast majority of them are people up to 45 years old. Many of them settled in Britain in the last decade, while many voted for the first time in their lives.
As the Greek ambassador in London, Mr. Ioannis Tsaoussis, pointed out, "the voting was conducted smoothly and without any problems at all in all 12 electoral divisions created in the United Kingdom."
With a participation rate that exceeded 90% for the Greeks of Cyprus, the voting for the elections of May 21 was completed.
Voters came to the five polling stations set up in Nicosia, Larnaca, Limassol and Paphos, from 07:00 to 19:00.
Out of a total of 1,462 registered in the special electoral rolls, 1,340 voted, a percentage corresponding to 91.6%.
More specifically, in the first electoral division of Nicosia, 397 out of a total of 438 voters voted. In the second electoral division of Nicosia, 438 out of 474 voted for them.
In Limassol, out of a total of 255 registered, 227 voted. While in Larnaca, out of a total of 212, 198 voted.
Finally, in Paphos, 80 of the 83 registered voted for the Greek elections.
The elections in Greece dominated the attention of international media. Since morning, international networks have been transmiting all developments from the electoral process. From the first moment when the ballot boxes were opened to voters, the largest global networks of have been broadcasting, all developments from Greece and the electoral process.
"We have the prospect of the election being inconclusive and maybe having another vote later in the summer. Anyone sleeping around here was probably woken up by the church bells and that will bring more people to vote at this school during the day," the BBC reported.
Reuters, which had cameras in various polling stations, broadcast live the vote of Kyriakos Mitsotakis and Alexis Tsipras.
Al Jazeera, in its online version, prepared a live broadcast on Greek election day. This means that it uploads the developments from Greece minute by minute.
"Politico" has the election as its first topic. The "Politico" site analyzes in every detail the factors that will determine the outcome of today's elections and lists the scenarios for the next day.
According to the information provided by the Ministry of the Interior, 31.52% of those registered in 16,520 polling stations have voted so far in the elections.
"We decided to give the second announcement once and for all, where approximately 80% of the electoral divisions participate in it," said the Secretary of the Ministry of the Interior, Michalis Stavrianoudakis.
At 19.00 in the afternoon, the first, joint big exit poll is expected to be published on the Greek private television networks. Polling companies will attempt to measure the ranking and percentages the parties have received.
The first official assessment of the election result is expected earlier than any other time. According to SingularLogic within just 90 minutes from the moment the polls close, at 20:30 we will have the first estimate.
