Greek PM Tsipras freezes privatisations, markets tumble

Greek Prime Minister Alexis Tsipras smiles as he attends the first meeting of the new cabinet in the parliament building in Athens January 28, 2015. REUTERS/Alkis Konstantinidis

ATHENS (Reuters) - Leftist Greek Prime Minister Alexis Tsipras threw down an open challenge to international creditors on Wednesday by halting privatisation plans agreed under the country's bailout deal, prompting a third day of heavy losses on financial markets.

A swift series of announcements signalled the newly installed government would stand by its anti-austerity pledges, setting it on a collision course with European partners, led by Germany, which has said it will not renegotiate the aid package needed to help Greece pay its huge debts.