Israelis are going to the polls with the last opinion polls suggesting momentum had shifted to opposition Zionist Union after weeks of running neck-and-neck with Prime Minister Benjamin Netanyahu's Likud.
The International Monetary Fund will decide later today whether to approve a big package of bailouts for Ukraine - provided the country, struggling with a weak economy, a sharp decline in oil prices and a conflict with Russia, can figure out a way to get about $15 billion from its creditors. Ukraine would have to keep its debt-to-GDP low enough so that the IMF doesn't feel like it's sticking its neck out too far.
Greece sent an economic reform plan to its EU and IMF creditors overnight, according to an EU source, and euro zone finance ministers will this morning see the list which is a condition for extending the country's bailout programme by four months.
Greek Prime Minister Alexis Tsipras will visit Rome for talks with Italy’s Matteo Renzi and will be met there by his finance minister, Yanis Varoufakis, who has already been to London and Paris to try the scope for a new debt deal for Greece and reassure investors that there won’t be a default.
The prospect of dramatic European Central Bank action – coupled with the deflationary threat posed by a plunge in the price of oil and the pain it inflicts on oil producing countries – is putting the financial system under growing stress.