After months of seemingly endless false starts, heated negotiations
and parliamentary votes, eurozone finance ministers are expected to
agree to on a US$172 billion bailout package for Greece on Monday.
The Mediterranean country has also been locked in talks with private
creditors who have agreed to take reductions, or so-called haircuts, on
their US$130 billion holdings of Greek paper. However, the debt exchange
has not been finalized and is unlikely to take place until the bailout
from the European Union and International Monetary Fund is finished.
"I am of the opinion that today we have to deliver, because we don't
have any more time," Jean-Claude Juncker, the prime minister of
Luxembourg and chair of the Eurogroup said as he arrived at the meeting
in Brussels, according to Dow Jones Newswires, as quoted by foxbusiness.com.
The road to receiving the bailout has been a long one for Greece. In
return for the aid, the so-called Troika, which is made up of the
European Union, European Central Bank and International Monetary Fund,
has pushed for Greece to take on painful austerity measures. The
Hellenic Parliament passed a sweeping reform package slightly more than a
week ago, and the leaders of Greece’s main political parties have also
signed on. However, the moves have sparked intense, and sometimes
violent, protests, strikes and other forms of civil disobedience.
Reliance Securities:
Today, Jakarta Composite Index (JCI) may move limited with potential downtrend. INCO, INDY, and KLBF are in oversold area.
e-Trading Securities:
The JCI today may move mixed within the range of 3,954-4,-28 with uptrend position. Several stocks to watch: BORN, INDY, and JPFA.
Sinarmas Sekuritas:
The JCU tends to move limited within the range of 3,950-4,010. Several stocks to watch for day trading: PGAS, AKRA, BMRI, and BWPT.
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