World Bulletin / News Desk
Greek leftist Alexis Tsipras pledged on Friday to roll back wage and pension cuts, nationalise banks and freeze privatisations if he wins this month's election.
The firebrand leader, ahead in the latest opinion poll, is keeping up radical rhetoric that has horrified the country's lenders but is winning him support before the June 17 vote that is widely seen as a referendum on the country's future in the euro zone.
In an hour-long speech to outline his economic platform for the election, Tsipras showered supporters with a barrage of promises from saving indebted households and cutting taxes on bread and milk to further hiking taxes on the rich.
"The adjustment we are proposing will come from taxing the wealthy and those with high incomes," the 37-year-old said to a crowd chanting "It's time for the left!"
A vehement opponent of Greece's international bailout, which is conditional on deep spending cuts, Tsipras pledged to cancel the 130 billion euro ($161 billion) programme.
Greece relies on the money from the European Union and the International Monetary Fund to avoid bankruptcy, and increasingly alarmed policymakers have warned Greeks that they face a painful return to the drachma currency if they abandon the programme and the austerity measures tied to it.
The Greek banking sector that Tsipras wants to nationalise is close to collapse, battered by recession and its exposure to Greek sovereign debt whose value has been slashed. Tsipras said he wanted to nationalise banks that had been recently recapitalised.
But opinion polls show that his populist proposals have brought him wide support among voters grappling with record unemployment and sharply lower living standards following a series of wage, pension and spending cuts.
Most polls show Tsipras's SYRIZA party running neck and neck with or slightly behind the pro-bailout New Democracy conservatives, though the respected Public Issue poll for the conservative Kathimerini paper on Friday gave SYRIZA a six point lead.
Most pollsters say the election outcome is too close to call, with a volatile mood among angry voters complicating predictions. This month's vote was called after an inconclusive election last month left no party able to form a government.
Greece is in its fifth year of a recession that has left one out of five people out of work. With tax revenues plunging in a shrinking economy, officials have warned the country could run out of money this month without a fresh injection of aid.
The head of Greece's biggest utility PPC told Reuters the country could suffer from power cuts later this year unless its lenders allow an emergency cash injection into power producers to let them buy fuel.
The latest economic data released on Friday showed the country's manufacturing sector shrank again in May but at a slower pace compared to the previous month, although declining production and orders forced firms to cut more jobs.
Istanbul's July 15 Martyrs' Bridge and Fatih Sultan Mehmet Bridge yield over $77.3M, while highway tolls earn $243.1M
Turkey's natural gas consumption decreases by 4.74 percent in November year-on-year
Members of the European Parliament's powerful trade committee voted 25 in favour of the deal, known as CETA, with 15 against, during a heated session in Brussels that was interrupted by a protestor.
Data monitoring company IHS Markit said its report suggested the 19-nation eurozone economy was set for solid growth with the new year starting on a strong note.
Central Bank skips repo auction for eight trading day to stem sharp decline in lira's value against other currencies
The December 10 accord obliges around a dozen nations led by Russia that are outside the Organization of the Petroleum Exporting Countries to reduce output by 558,000 barrels per day (bpd).
Turkish Treasury says dollar-denominated bond sale was more than three times oversubscribed
"The bank is weighing transferring up to 1,000 employees to Frankfurt, including traders as well as top bankers," the paper reported, citing financial industry sources.
Frankfurt's DAX 30 index won 0.2 percent compared with the close on Wednesday to 11,624.11 points and the Paris CAC 40 rose 0.1 percent to 4,859.76 .
A weaker yen helped Japanese stocks lead a broad advance across Asian markets as optimism was buoyed by Yellen's remarks on the economy but traders moved cautiously ahead of Donald Trump's inauguration on Friday.
Central Bank skips repo auction for fifth trading day to stem sharp decline in lira value against other currencies
Number of tourists across the world rose to all time high of 1.235 billion last year, World Tourism Organization said on Tuesday.
Turkish central bank has announced to open foreign exchange depot market to enhance flexibility and instrument diversity
While PM promises 'greatest possible' access to EU market, opposition hits out at 'clear break' from Conservative policy
Prime Minister Theresa May is expected to deliver Brexit speech on Tuesday
"Net easing of banks' overall terms and conditions on new loans continued across all loan categories," as in previous quarters, the central bank said in a statement.