Rolling economic and financial news as Greece’s new government starts work, and stock markets rise ahead of then US central bank’s monetary policy meeting tonightPower company and port sale frozenCivil service layoffs to be stopped 8.28am GMT Syriza is also planning to help poorer Greeks by raising the minimum wage:New Greek gov't has crossed off Piraeus port & energy privatisations. SYRIZA wants raising of minimum wage to be 1st bill #Greece 8.22am GMT Germany’s biggest newspaper isn’t showing much sympathy for a Greek debt deal, flags up ING analyst Carsten Brzeski:Asking for the Grexit by accident? This morning's Bild lists earlier German statements ruling out debt forgiveness for Greece. 8.16am GMT European stock markets have inched higher, despite events in Greece.The FTSE 100 has gained18 points or 0.3% in early trading to 6830. Investors are cheered by Apple, which smashed profit forecasts last night.FOMC policy statement today Patience the buzz But tightening via dollar strength & balance of external risks strengthen case for later hike. 8.04am GMT The new Greek government has also pledged to reverse the unpopular ‘mobility scheme’ which was used to lay off thousands of public sector workers, rolling back another key bailout measure.George Katrougkalos told Mega TV:“It will be one of the first pieces of legislation that I will bring in as a minister.”Day 1, potential major stand-offs: privatisations(Piraeus Port, Public Power Co.), public sector layoffs/re-hires, Russia sanctions #Greece 8.01am GMT Good morning, and welcome to our rolling coverage of the financial markets, the world economy, business and the eurozone.“We will halt immediately any privatisation of PPC.”#Greece Productive Reconstruction Min Lafazanis said PPC will 'return to the state', its privatisation will be halted imminently. #economyOne of the first decisions announced by the new government was stopping the planned sale of a 67% stake in the Piraeus Port Authority, agreed under its international bailout deal for which China’s Cosco Group and four other suitors had been shortlisted.“The Cosco deal will be reviewed to the benefit of the Greek people,” Thodoris Dritsas, the deputy minister in charge of the shipping portfolio, told Reuters.Handover ceremony at Finance Ministry to take place tomorrow at 2 p.m. #Greece Continue reading...
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