Greek national among victims of shooting and knife attack in Tel Aviv
Early reports have identified the victim as 25-year-old university student Ionas Karussis, the son of Thessaloniki-born doctor Dimitris Karussis, who moved to Israel in the late 1980s.
Greece on alert for migrant wave, terror concerns
Greece is bracing for a potential wave of uncontrolled migration, a concern highlighted during Wednesday’s meeting of the country’s National Security Council (KYSYEA).
https://www.ekathimerini.com/news/1249973/greece-on-alert-for-migrant-wave-terror-concerns
Listed companies enjoy record profits in year’s first half
The companies listed on the Greek bourse are on track for a third consecutive year of record profits in 2024, based on their performance in the first half of the year.
Public offering of National Bank placement oversubscribed 12 times; official results Thursday
The public offering of a 10% share in the National Bank of Greece (NBG), launched on Monday morning by the Hellenic Financial Stability Fund (HFSF), has already been 12 times oversubscribed according to sources.
ATHEX: War drums send stocks tumbling
The escalation of geopolitical tensions in the Middle East into a regional war predictably sent stock prices tumbling across Europe, including Greece, on Wednesday. The fourth consecutive day of decline for the local bourse came on significantly increased turnover, which highlights that sellers mean business. Very few stocks braved the selloff and resisted the pressure, including Coca-Cola HBC.
https://www.ekathimerini.com/economy/1249963/athex-war-drums-send-stocks-tumbling
KATHIMERINI: Double alert for Athens regarding migrant waves and terrorism due to the Middle East conflict
TA NEA: Middle East: 3+1 fears for Athens
EFIMERIDA TON SYNTAKTON: No division should be allowed regarding the Tempi train crash case
RIZOSPASTIS: Everybody rally against the imperialistic massacre in the Middle East
KONTRA NEWS: USA greenlights attack against Iran
DIMOKRATIA: New mutiny within New Democracy: 11+8=? ?
NAFTEMPORIKI: Loans are a heavy load for listed companies
DRIVING THE DAY: EU TRANSPARENCY
LAWMAKERS BASH “FLAWS” IN FINANCIAL DISCLOSURES: Let’s get ready to ruuumble! Ursula von der Leyen’s incoming team of commissioners is about to face its first major challenge as members of the European Parliament’s legal affairs committee scrutinize their declarations of interests.
Minefield: The review is a closed-door process that should last two weeks before hearings start on Nov. 4, but it’s fraught with peril for the incoming class. Remember Sylvie Goulard, France’s original pick to be Paris’ commissioner back in 2019? She never made it past the declaration of interests stage because lawmakers kicked up a fuss about a lucrative side gig, leading to her replacement by one Thierry Breton.
Can we keep this quiet? Helpfully for the commissioners, the declarations they’ve filed won’t be made public (more on that below). But as the legal affairs committee digs in, looking for potential conflicts of interest or transparency failures, lawmakers are already criticizing what they describe as a flawed process that falls well short of a formal declaration of assets required of politicians in other countries.
Their main gripes: It’s a long list (compiled here by French left-wing lawmaker Manon Aubry), but among them is that Parliament doesn’t have the tools to properly investigate commissioners’ holdings and can’t use other sources of information (i.e. from the media) to evaluate them. Also, the questionnaires given to incoming commissioners require limited detail, leading to blind spots and discrepancies between some who provide plenty of detail and others who leave their declarations nearly blank.
Bad as in not good: “The process is opaque and flawed because it does not provide the necessary tools and information for the members of the JURI committee to undertake their allocated tasks,” said Mario Furore, an Italian lawmaker and coordinator for the Left on the legal affairs committee, known as JURI. “The JURI committee should have real investigative power but instead it focuses solely on declarations of interest and cannot even consider public information from the press.”
What to watch: The JURI committee will meet from 9 a.m. today to do a first screening of the declarations. Aubry’s group will hold a press conference later this morning laying out their criticisms.
What to expect: Brussels is a leaky town and no institution is leakier than Parliament. So we can expect these declarations to find their way into public view sooner rather than later.
Step back: Commissioners are bureaucrats rather than elected officials, but they do carry a heavy responsibility on behalf of all citizens of the European Union. The Qatargate scandal — as well as the controversy surrounding Henrik Hololei’s flights aboard Qatar Airways, and even this story about a senior Commission official helping to operate a 5-star hotel in Bali as a sideline — sparked intensive debate about the EU’s transparency requirements. Yet the rules on financial disclosures are arguably getting looser for incoming commissioners. And they are full of holes, giving officials latitude to self-evaluate what might constitute a conflict of interest.
Plus, there’s no way of comparing an elected official’s wealth and assets before taking office to what they own when they left.
This is out of step with international norms. Incoming ministers in France are subjected to a grueling vetting process conducted by a dedicated institution, the HATVP. U.S. presidential candidates must submit onerous information on their holdings, which are made public. The EU recommends that countries aspiring to join the bloc require asset declarations of their public officials.
Step it up: “If you compare this process with the kind of declarations U.S. presidential candidates file, where you can see stock holdings and much more, this is a flawed process,” said German Greens lawmaker Daniel Freund.
GENTILONI BACKS FITTO: Meanwhile, the EU’s outgoing economy commissioner, Italian Socialist Paolo Gentiloni, put party allegiance aside and threw his weight behind his far-right political rival Raffaele Fitto. “I would vote for him [Fitto],” in the upcoming ballot in the European Parliament, Gentiloni said. Story here.
NOW READ THIS: My colleagues Gregorio Sorgi, Barbara Moens and Jacopo Barigazzi have a profile of Poland’s Piotr Serafin, nominated to be the EU’s next budget commissioner.
EPP CIVIL WAR
WEBER TIGHTENS GRIP: Manfred Weber, the Bavarian politician at the top of the EU’s center-right political family, is taking more control of the European People’s Party (EPP) amid a row with its Secretary-General Thanasis Bakolas. In a document seen by POLITICO’s Max Griera, Weber laid down the law for Bakolas.
Power move 1: Weber needs to be “formally consulted” about any new hires or promotions of senior staff in the EPP’s general secretariat, the document said.
Power move 2: Bakolas will have to live with a “four-eye principle” when it comes to managing the budget and human resources, working more closely with the EPP’s treasurer, François-Xavier Bellamy. Under these measures (outlined in a decision approved by the EPP presidency on Monday, Max reports), Bakolas will have to “cooperate on a regular basis and in a timely manner with the treasurer and the general secretariat to ensure the fulfillment of his duties,” the document said.
Power move 3: There will be a “thorough assessment” of the human resources situation in the party headquarters, based on individual interviews with EPP staff. This process will be led by Bellamy and EPP Vice President Mariya Gabriel, and not the secretary-general, who is usually in charge of HR matters.
Weber’s explanation: “As [the treasurer] is entrusted by the presidency with the proper administration and use of financial resources together with the secretary-general, we as a party also want to set the example by implementing a four-eyes principle, i.e. to involve the treasurer as fully as possible in the performance of his assigned task,” a member of Weber’s office told POLITICO in answer to written questions. The spokesperson added that the president wants “a point of contact among vice presidents for staff to express ideas, concerns and hopes for the party future,” and added that Bakolas would be part of this “inclusive” process.
Reward for von der Leyen’s enemy: It will surprise some that Bellamy is being given these powers since he led the charge against the EPP’s Spitzenkandidat Ursula von der Leyen during the EU election campaign and voted against her appointment. “Following the resignation of our former Treasurer, Paulo Rangel, it was François-Xavier Bellamy who was elected by the Political Assembly to take on this role,” Weber’s office said.
WEBER CROWS AS FOREST BILL SET BACK: The Bakolas affair isn’t Weber’s only battle with a fellow EPP heavy-hitter. On Wednesday, the European Commission delayed for a year the introduction of landmark rules banning agricultural products from logged forests. Weber, who led the charge against the new rules, claimed victory: “I am pleased that Ursula von der Leyen has followed my initiative.” Louise Guillot, Karl Mathiesen and Camille Gijs have the details here.
Not happy: Other parties, activist groups and the former commissioner who first pitched the rules aren’t happy. Speaking to Playbook, Virginijus Sinkevičius — formerly the EU’s environment commissioner, now an MEP — bemoaned the delay. “It’s an interesting contrast when someone from the EU goes abroad and tries to talk about deforestation as a major issue … but back in the EU we continue to buy products that actually contribute to deforestation.”
Furious: Bernd Lange, a Socialist MEP who leads the European Parliament’s international trade committee, called the delay a “disgrace.” Claudio Angelo, head of international policy at the Brazilian NGO Observatório do Clima, said the EU seemed to be telling its trading partners overseas to “let it all burn.”
S&D ACCUSES WEBER OF COZYING UP TO THE FAR RIGHT: Is Weber’s EPP locking arms with the European Parliament’s far-right groups, the European Conservatives and Reformists, Patriots for Europe and Europe of Sovereign Nations? That’s what the Socialists and Democrats claim, arguing that the EPP joined forces with the three right-wing groups to decide on the agenda for an upcoming plenary on foreign affairs.
The EPP, alongside the three far-right groups, opposed a proposal to add the words “wars in the Gaza Strip and Lebanon” to the agenda’s title, according to an S&D spokesperson. The four groups also banded together to block the European Parliament’s Committee on Civil Liberties, Justice and Home Affairs from having responsibility over Finnish Commissioner-designate Henna Virkkunen’s hearings.
STARMER DOES BRUSSELS
THE MEETING ABOUT THE MEETING: Keir Starmer and Ursula von der Leyen agreed they wanted an “agenda of strengthened cooperation” between Britain and the EU, after the PM had a day of meetings in Brussels Wednesday. What do they mean by cooperation? They’ll meet again later this fall to work that one out, POLITICO’s EU-U.K. reporter Jon Stone writes in to say.
Starmer told reporters before the meeting: “I firmly believe that the British public wants a return to pragmatic, sensible leadership when it comes to dealing with our closest neighbors, to make Brexit work and to deliver in their interest.”
Not so fast. Is the EU desperate for a new Brexit deal? It doesn’t seem so. “We have a set of solid agreements in place,” von der Leyen, standing next to Starmer before their chat, told reporters. “We should explore the scope for more cooperation while we focus on the full and faithful implementation of the withdrawal agreement, the Windsor framework, and the TCA [EU–U.K. Trade and Cooperation Agreement].”
Reality check: The polite but insistent message coming from Brussels at the moment is along these lines: If you want to do another deal, how about implementing what we agreed already? There are still gaps on issues like controls across the Irish Sea, border checks and citizens’ rights.
That’s not all: Despite London’s objections, the EU is insisting that Britain sign up to a youth mobility scheme — regarding it as the price of entry to talks. Starmer’s priorities — including a veterinary agreement, a security agreement and mutual recognition of professional qualifications — would come as part of a “package” with Brussels’ demands, one EU official said. But not everyone in Westminster is keen.
More meetings promised: Starmer and von der Leyen plan to meet again “this autumn” but also to hold “regular EU-U.K. summits at leader level” to “oversee the development of the relationship.” The first such summit will take place “ideally in early 2025.”
MIDDLE EAST
PRESSING ON 2 FRONTS: Israel on Wednesday said eight of its soldiers had died during its ground offensive against Hezbollah in Lebanon. At least six people were killed as a result of Israel’s strikes on central Beirut in the early hours of this morning. In Gaza, Israeli operations in the territory’s second-largest city of Khan Younis killed at least 51 people, Palestinian medical officials said. Reuters has more.
BIDEN WARNS AGAINST STRIKES ON IRAN’S NUCLEAR FACILITIES: U.S. President Joe Biden said he doesn’t support Israel attacking Iran’s nuclear sites in retaliation for Tehran’s ballistic missile attack on Israel on Tuesday.
BLAIR’S TAKE: “It is the way of Israel that if they come under attack, they fight back,” said former British PM Tony Blair, speaking with POLITICO’s Power Play podcast host Anne McElvoy. “They came under attack on Oct. 7, and they came under attack on Oct. 8, and therefore, they’re going to defend themselves,” Blair added (speaking before Iran’s missile barrage on Tuesday). Listen here.
IRAN WARNED NASRALLAH: Ayatollah Ali Khamenei, Iran’s supreme leader, warned Hezbollah chief Hassan Nasrallah to flee Lebanon days before he was killed in an Israeli strike and is now “deeply worried” that Israel has infiltrated senior government ranks in Tehran, Reuters reported.
BORRELL DEFENDS U.N. CHIEF: Europe’s top diplomat Josep Borrell stuck up for U.N. Secretary-General António Guterres, who was banned from entering Israel after being accused by its foreign minister of failing to “unequivocally” condemn Iran’s missile strikes. Posting on X last night, Borrell praised Guterres for his “tireless efforts to achieve peace in all the conflicts and particularly in the Middle East” and said “we deplore the unjustified attacks against him.”
RUSSIA’S WAR
KILLING PUTIN’S PROFIT MARGINS: Russia would be starved of funds to run its war economy if Saudi Arabia delivers on plans to hike crude production, report my colleagues Gabriel Gavin, Eva Hartog and Geoffrey Smith. Oil and gas have been the largest single source of revenue for Russia over the past decade, making up as much as half of the country’s budget.
PARIS MOVES TO CONTROL UKRAINE FUNDS: France has suggested limiting the European Commission’s freedom to hand out money to Ukraine without wider oversight from national capitals and the European Parliament. During a meeting of EU diplomats this week, Paris supported increasing national control over the distribution of Brussels’ €35 billion loan to the war-struck country, which is set to be finalized over the coming weeks. Gregorio Sorgi has more here for Financial Services Pros.
NOW READ THIS: Russia and China’s cooperation in the Arctic is a rising nuclear threat, argues Liselotte Odgaard in this opinion piece on POLITICO.
IN OTHER NEWS
NEW RULES FOR CABINET COMPOSITION EXPECTED NEXT WEEK: It’s the document officials chasing a Cabinet job have been waiting for. New rules on the composition of Cabinets in the next European Commission are expected to land next week, laying out requirements for nationality, gender and seniority. They are key for the future commissioners and their heads of Cabinets to piece together their personnel puzzles, and Commission officials expect the new rules will be stricter than the current ones, Barbara Moens and Eddy Wax write in to report.
JUST STOP OIL VS. ART: Question: How does one practice throwing soup at a priceless masterpiece? Answer: In the shower. My colleague Karl Mathiesen has the remarkable inside story of a stunt that shocked and irritated the world — and why it’s likely to be repeated.
FOCUS ON SERBIA: MEPs Gordan Bosanac of Croatia and Vladimir Prebilič of Slovenia have been meeting with Serbian activists to discuss the growing crackdown on human rights campaigners in the country, particularly those protesting against the government’s lithium-mining plans. “Credible NGOs from Serbia have been reporting arbitrary arrests,” Bosanac told Playbook reporter Šejla Ahmatović. “The government is repeatedly participating in orchestrated attacks on activists and bizarre smear campaigns by the state-controlled media by using and publishing private data of activists.”
EU hesitates: Bosanac criticized the EU for being “silent” on this issue, noting that the only response was a vague social media post from its delegation to Serbia. He argued the EU has abandoned Serbian citizens who are struggling to fight against rule-of-law backsliding under President Aleksandar Vučić. The consequences could mean a further decline in the state of democracy and “destabilization of the region,” according to Mirko Popović, director of the Renewables and Environmental Regulatory Institute.
THE CASE AGAINST TRUMP: U.S. special counsel Jack Smith unsealed a dossier of evidence against former U.S. President Donald Trump providing a detailed look at what Smith described as a “series of increasingly desperate plans to overturn the legitimate election results” in 2020. It included details of private conversations that Trump had with Republican legislators and operatives in which they nearly all warned him that his allegations of election fraud were flimsy and false. My U.S. colleagues have the full story
MUSK UPDATE: X owner Elon Musk started funding Republican causes much earlier and more extensively than previously known, the Wall Street Journal reports.