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.
Today, Jakarta Composite Index (JCI) may move limited with potential downtrend. INCO, INDY, and KLBF are in oversold area.
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.
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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