Wilmington Trust seeks compensation from the government over its decision to buy back GDP Warrants.

Macro/Political:

• The Wilmington Trust, which acts as the trustee for Greece’s GDP Warrants, is demanding compensation from the government over its decision to buy back securities earlier this year. More specifically, the trust is disputing the validity of the call option exercised in May, which could save Greece hundreds of millions of euros, and has filed legal claims in the business and property courts of England and Wales. The dispute began in April when law firm White & Case sent a letter on behalf of a group of hedge funds and money managers.
  Source: Bloomberg

• The increase of tourist arrivals in the country in recent years brought to the forefront the upgrade of the airports. More specifically, the big projects that are in place now in the country are those of the airports of Athens, Crete, and Kalamata. The investment in the infrastructure of Athens International Airport is expected to have a budget of EUR 1.28bn. The project will upgrade both the capacity and the functionality of the airport, with the target to serve more than 40 mn passengers without stopping its operation.
  Source: Capital.gr