Greek
opposition leader says to quickly scrap bailout if elected - (www.reuters.com) Greek
opposition leader Alexis Tsipras promised on Tuesday that if elected, he would
swiftly scrap the country's EU/IMF bailout without waiting for the outcome of
talks with lenders. Tsipras' pledge contrasted with the conservative
government's plan to seek a negotiated exit from the unpopular 240 billion euro
($298 billion) bailout program, which has required years of austerity including
deep wage cuts. Greece could
face early elections next year, depending on the outcome of a separate vote to
elect a president. The latest opinion poll by the Pulse agency showed Syriza,
the radical leftist party that Tsipras heads, would win with 29.5 percent of
the vote if national elections were held now. "We will replace the bailout
with (Syriza's) program from the initial days of our government, before and
regardless of the outcome of the negotiation," Tsipras told a conference.
Exclusive:
U.S. oil and gas well permits plunge 37 percent in November - (www.reuters.com) Plunging
oil prices sparked a drop of almost 40 percent in new well permits issued
across the United States in November, in a sudden pause in the growth of the
U.S. shale oil and gas boom that started around 2007. Data provided exclusively
to Reuters on Tuesday by industry data firm Drilling Info Inc showed 4,520 new
well permits were approved last month, down from 7,227 in October. The pullback
was a "very quick response" to U.S. crude prices,
which settled on Tuesday at $66.88 CLc1, said Allen Gilmer, chief executive
officer of Drilling Info. New permits, which indicate what drilling rigs will
be doing 60-90 days in the future, showed steep declines for the first time
this year across the top three U.S. onshore fields: the Permian Basin and Eagle
Ford in Texas and North Dakota's Bakken shale.
Nine
Layers of Red Tape Show Ukraine Failure a Year Later - (www.bloomberg.com) Thirteen
floors above a snow-covered complex on the outskirts of Kiev, in a half-built
high-rise, Egor Popov wondered aloud when the warren of dusty rooms would be
ready for move-in: maybe next year, probably not. Presales on the 1,210-unit
Sun Gate’s fourth wing, still a concrete-and-brick skeleton accessible only by
a shaky open-air elevator, may be delayed, he said. Not because of a lack of
financing or demand for flats. The issue is the nine layers of red tape and
graft requests that are part of finishing the project, said Popov, a spokesman
for TMM Real Estate Development
Plc (TR61),
Ukraine’s only publicly listed developer.
Russian
Woes Worsen as Recession Looms With Banks in ‘Panic’ - (www.bloomberg.com) Russia’s economic crisis deepened as the government
acknowledged it’s heading for recession and a former central banker spoke of
“some panic” in the financial system as oil prices plunged. Speaking a day
after PresidentVladimir
Putin said
Russia is scrapping a proposed $45 billion pipeline to Europe, the government predicted the economy will
contract next year and canceled a bond auction. It was also forced to pledge
39.95 billion rubles ($740 million) to support OAO Gazprombank, at least the
third lender to secure a capital injection since U.S. and European Union
sanctions curbed their ability to borrow.
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