... setelah berbulan-bulan berdebat soal nasib kelanjutan the eurozone dengan Yunani, akhirnya derita 5 taon kebijakan ikat pinggang BERAKHIR SUDAH... penderitaan TERBURUK segera MULAI ...
bbri dalam jangka panjang bisa +2300%, reksa dana Panin Dana Maksima +7500%, walo melalui BANYAK KRISIS RAKSASA
All the heated negotiations and analysis around a bailout for Greece seem oblivious to the key problems of any settlement.
bbri dalam jangka panjang bisa +2300%, reksa dana Panin Dana Maksima +7500%, walo melalui BANYAK KRISIS RAKSASA
JAKARTA kontan. Meski sempat melemah pada awal pekan, Indeks Harga Saham Gabungan (IHSG) mencoba bangkit. Alhasil, Jumat (26/6), IHSG naik 0,06% ke 4.923,00. Dalam sepekan IHSG menyusut 1,24%.
Meski begitu, pekan depan ada sentimen positif yang patut di tunggu.
Eddy Wijaya, Analis Sinarmas Sekuritas, mengatakan, belum jelasnya penyelesaian masalah utang Yunani menekan IHSG selama sepekan. Ditambah kabar dari Jerman yang masih menolak proposal Yunani.
Achmad Yaki Yamani, Analis Sucorinvest Central Gani, menambahkan, data ekonomi Amerika Serikat, Eropa, dan China selama sepekan mampu menunjukkan hasil positif. Selama sepekan investor asing net sell Rp 275,9 milliar.
Sementara penguatan kemarin cermin masih adanya kepercayaan investor terhadap penyelesaian utang Yunani. Ini menjelang kembali digelarnya rapat di Eropa terkait utang negeri asal olimpiade itu.
Achmad memprediksi, secara teknikal, IHSG sepekan ke depan masih melemah. Namun, pekan depan ada sentimen positif yang patut dinanti, yaitu data manufaktur Indonesia pada 1 Juli, diharapkan dapat naik.
Ketiga analis memproyeksikan, IHSG akan melemah. Achmad memprediksikan, IHSG sepekan kedepan akan bergerak di 4.790-4.975. Sementara Eddy memperkirakan, IHSG dalam sepekan akan bergerak dalam kisaran 4.850-5.050.
Editor: Sanny Cicilia
All the heated negotiations and analysis around a bailout for Greece seem oblivious to the key problems of any settlement.
Since February’s “deal,” the parties have inched close to an agreement in a prolonged battle of alternative drafts (some incorrect; other misdirected). It remains highly uncertain whether agreement can be reached. The creditors insist this is their “last and best” offer. The Greeks bluster about democracy and blackmail. Now, the Greek government has called a snap referendum on the new proposals.
In its current form, the terms will represent a few concessions by the creditors, but almost total capitulation by the Greek government. Consider:
First, the agreement is likely to cover five months, necessitating a more comprehensive further program, which willinevitably require creditors to provide new financing to Greece (in effect a third bailout) if default is to be avoided.
Second, the focus originally has been on the release of 7.2 billion euro EURUSD, -0.3569% from the existing second bailout program. If the amounts that Greece has run down from reserves, pensions and also its account at the IMF are replaced, then there is little additional new funding to Greece. It seems the European have found a little more money, by shuffling funds, whereby the amount would be a more “generous” 17 or so billion euro. But it is far from clear what Greece needs in any case.
Third, the issue of debt repayments or relief is not addressed, other than in vague terms. Greece has commitments of around 5-10 billion euro each year plus the continuing need to roll over around 15 billion euro in short-term Treasury bills. Greece may not have the ability to meet these obligations on an ongoing basis. This does not take into account additional funding needs of the State that may arise from budget shortfalls or the need of Greek banks.
The emphasis on budgets ignores the need for major structural reforms.
Fourth, the ability to meet plan commitments is affected by performance of the Greek economy. The political uncertainty, capital flight and weak banking system have resulted in a sharp contraction in activity. Bankruptcies have increased. Arrears on loans have risen. Tax receipts have fallen. This will make budgetary targets difficult to meet. Techniques to improve public finances such as delaying payments to suppliers and citizens cannot be continued indefinitely. In addition, if growth falls further with the continuation of austerity then the primary surplus objective will be missed creating additional funding needs.
Greek bailout talks pushed to weekend
European finance chiefs pushed off talks to seal a Greek bailout deal until the weekend, after ending another meeting without agreement. This leaves just days to keep Athens from defaulting on a loan payment due June 30. WSJ's Charles Forelle reports. Photo: AP.
Fifth, the emphasis on budgets ignores the need for major structural reforms. Continuing membership of the euro restricts the ability of Greece to devalue to improve competitiveness. Further internal devaluation (lowering of costs) and structural changes are the only options.
Sixth, many of the existing proposals were in previous programs. Promised proceeds from privatizations, reduced over time, have proved elusive. Proposals for higher taxes and pension contributions from companies require improved tax collection and reversal of tax amnesties. Successive Greek governments have proved poor at implementation. It is not clear why this time it will be different.
Seventh, weaknesses in the banking system persist. Banks deposits have fallen by almost half as capital flees Greece. Banks are dependent on the European Central Bank via its Emergency Loan Assistance program for roughly half its funding. But the amount of eligible collateral acceptable to the ECB is increasingly limited placing pressure on this source of funding.
Europe’s handling of the Greek crisis has revealed its complete inability to face up to incompatibility of a single currency.
Bad debts are rising as the economy contracts and borrowers default strategically to obtain write downs of their debt. The banks are also large holders of Greek government bonds which would result in large losses if there was debt default. The problem is compounded by the poor quality of Greek bank capital, with a high proportion consisting not of equity deferred tax assets in the form of future tax credits from the government.
Eight, irrespective of whether agreement can be secured and the legislature in individual countries assents, political uncertainty will continue to increase. Greek Prime Minister Alexis Tsipras’ position is vulnerable. The Greek government have compromised on many election commitments, the so-called red lines, such as pension payments. Many left leaning parties that are part of the Syriza coalition may withdraw their support. The outcome of the referendum is unknown. Greeks have consistently chosen the contradictory position of rejecting austerity and repayment of odious debt while wanting to remain part of the euro. Even before the referendum takes place on July 5, continuation of funding for Greek banks by the ECB cannot be guaranteed
The protracted negotiations have revealed deep divisions within Germany and within the eurozone. Europe’s handling of the Greek crisis has revealed its complete inability to face up to incompatibility of a single currency, one monetary policy and national fiscal policies as well as lack of political integration.
It has also exposed a ponderous, indecisive process of dealing with crises. London’s Daily Telegraph pithily summed up the problem with five identical images dated 2011, 2012, 2013, 2014 and 2015. In each, a stern German Chancellor Merkel tells various Greek prime minsters: “This is your last chance.” In the foreground, flowers in a vase are wilting with the passage of time.
Whatever happens, the position of ordinary Greeks is bleak. The future for other Europeans is not much better. There will be no winners — regardless of the outcome of this latest and “absolutely final” deal.
Satyajit Das is a former banker and author of “Extreme Money” and “Traders, Guns & Money.”
nyt: Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece By ANDREW HIGGINS JUNE 25, 2015 SOFIA, Bulgaria — When Greece looked as if it might default on its debts early this year, Nikolay Stoyanov, a Bulgarian financial journalist, decided he had had enough of “Greek madness.” So he withdrew his modest savings from one of four big Greekowned banks that do business in Bulgaria and moved it to his wife’s account at a Germanowned lender. He said he was not particularly worried that he might lose his money, but simply wanted to be on the safe side after following the dizzying twists and turns of the Greek debt drama as part of his daily job. He kept his account open at a Bulgarian branch of Greece’s Alpha Bank, but now uses it only to receive his salary and pay electricity and other bills. With Alpha and three other of Bulgaria’s top 10 banks owned by Greek lenders caught in a whirlwind of fear and panic at home in Greece, Bulgaria, a former Communist country that is today the poorest member of the European Union, has found itself under unwelcome scrutiny from financial experts and Western banks 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 2/5 worried that Greece’s troubles could spread havoc farther afield. Also in their sights are Serbia, Macedonia and Romania, other nations at the center of a nowabandoned push by Greek banks to expand their operations into foreign markets. But it is Bulgaria, where Greekowned lenders hold around 20 percent of deposits and exporters depend on Greece for about 7 percent of their business, that “stands out as the one that has the most to lose from a potential further collapse of the Greek economy,” Morgan Stanley said in a research note in May. Many experts agree that Greekowned banks in Bulgaria, unlike their parent companies in Greece, are financially sound, with healthy balance sheets and large amounts of cash. They also have a better reputation than Bulgarianowned banks, one of which — the country’s fourthbiggest lender — went bust last year in a blowout that shook the financial sector. But what makes the Greek drama so potentially dangerous is that nobody knows what irrational and destructive forces could be unleashed if Greece fails to reach a deal with its creditors and stumbles toward a default and even an exit from the euro currency. In Brussels on Thursday, a negotiating session on the debt crisis ended without a resolution. “If everything is messed up in Greece, you never know what madness this could create,” said Peter Andronov, the chairman of the Association of Bulgarian Banks and the country manager in Bulgaria for a Belgian banking group, KBC. Even countries with no Greek banks or other obvious routes of contagion question the assurances of officials in Brussels and elsewhere that Greece, unlike five years ago when its crisis began, has been safely quarantined. Opening a highlevel conference last week in Slovakia on challenges to the postCold War order, Miroslav Lajcak, the Slovak deputy prime minister and foreign minister, warned that while Greece accounted for only a tiny portion of the European Union’s economy, a default on its debts “would send shock waves 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 3/5 across the whole of Europe.” President Rosen Plevneliev of Bulgaria, which joined the union in 2007 but still uses its own currency, the lev, said he was “very worried” by events next door in Greece. But, in an interview at his offices in Sofia, the president dismissed any risk of Greece’s troubles infecting Bulgaria through its banks, insisting that Greekowned lenders in Bulgaria have no exposure to Greek debt and face no risk of Bulgarian depositors stampeding branches to demand their money back. “We have seen so many crises around us, there is nothing more that surprises us,” Mr. Plevneliev said, insisting that Bulgaria’s deeply entrenched sangfroid would prevent panic among depositors. All the same, he keeps his own money at Deutsche Bank in Germany, where he lived for many years, and at a local subsidiary of Austria’s Raiffeisen. But, as the owner of a home in Greece, he said he also had a bank account there to pay his bills. “We want Greece to succeed,” he said. Mr. Stoyanov, the financial editor of Kapital, a Bulgarian business newspaper, agreed that Greekowned banks in Bulgaria seemed sound, but cautioned that a Greek default could scramble rational calculation and lead to “uncontrollable problems.” Customers at Greekowned banks in Sofia, the Bulgarian capital, so far show little sign of concern. “I have no worries. I only get my pension here,” said Snejana Doktorova, a 68yearold client of United Bulgarian Bank, which, despite the name, is Greekowned. Another Sofia resident, who asked to be identified only by his first name, Vasil, however, voiced concerns that show how fickle and unpredictable the trust that underpins banking stability can be. He said that he had withdrawn 10,000 euros, or about $11,000, and closed his account at the Bulgarian subsidiary of Greece’s Piraeus Bank — not out of any fear that it could go bust but out of political conviction after the victory in January elections of Syriza, the radical leftwing party now in power in Athens. “I’m against Communists and was deeply disappointed when the Greeks elected a Communist 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 4/5 government,” he said. According to calculations by Kapital based on Central Bank data, deposits in Greekowned banks in Bulgaria fell by nearly a billion lev, around $580 million, in the first quarter of this year, the last period for which data is available. It is a small amount compared with the more than $4 billion yanked by depositors in Greece last week but, according to Kapital, is still “a little scary.” Officials at Bulgaria’s central bank declined to comment, maintaining what Bulgarian journalists called a policy of silence on potential risks to the banking sector. “When you keep everything silent, it looks fine on the surface, but it is a bit of an illusion,” Mr. Stoyanov said. All the same, remaining mute is perhaps a wise strategy in view of the fact that few people trust what the central bank says after its failure to stop the rot at Corporate Commercial Bank, known as K.T.B., which collapsed last summer. The governor of the central bank, who has faced relentless criticism over the K.T.B debacle, announced this week that he was resigning. “We don’t believe in anything, including ourselves,” said Ognyan Minchev, the director of the Institute for Regional and International Studies, a research group based in Sofia. Mr. Andronov, the bankers’ association chairman, said he understood the reluctance to discuss the risk of Greece infecting Bulgaria’s weak but stable economy. “If you start talking too much you create a panic,” he said. Greekowned banks, he added, are entirely stable, with liquidity levels higher than the norm and no direct link to Greece “other than their owners and brand name.” International banks, it seems, have also come to much the same conclusion, that short of a catastrophic crisis of confidence set off by a Greek default and exit from the euro, Greekowned banks here are healthier than their parent companies in Greece. Deutsche Bank, in its report on Bulgaria, asserted that “potential contagion is mitigated” by the Greekowned banks’ conservative lending practices and other factors. 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 5/5 But it has also helped the Greekowned banks here that Bulgarianowned banks, many of which have been tarnished by murky connections to political figures, have such a bad image. “They are perceived as more stable than local banks,” said Georgi Angelov, an economist at the Open Society Institute in Sofia. Correction: June 25, 2015 An earlier version of this article misspelled the name of an Austrian bank. It is Raif eisen, not Raif heisen. Correction: June 25, 2015 An earlier version of the above correction misstated the nationality of the bank Raif eisen as Swiss. Boryana Dzhambazova contributed reporting. A version of this article appears in print on June 26, 2015, on page A11 of the New York edition with the headline: Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece .
deutsche welle : By the end, the finance ministers of the Eurogroup needed no more than two hours to show their Greek counterpart the door. Yanis Varoufakis could find no one else to listen to him. Instead, the 18 other members of the currency union drew the consequences of the actions of his government.
Great expectationsDiplomatically speaking, direct democracy is pretty much the biggest act of shamelessness imaginable. Because that same afternoon, Tsipras had once again sought a private conversation with Merkel and French President Francois Hollande, where, as far as we know, he had told them nothing of his plans. There was a phone call that evening with Berlin, but that did not lessen the snub. When Merkel declared her hope that there could still be a positive result, her Greek counterpart must have already made his plan.
TEMPO.CO , Jakarta: -Analis pasar modal, Reza Priyambada menilai Indeks Harga Saham Gabungan (IHSG) masih akan diuji di level 4.800. Laju indeks yang fluktuatif tampaknya masih akan menghiasi perdagangan. "Pekan depan, IHSG diperkirakan berada pada rentang support 4.885-4.950 dan resisten 4.965-5.000," kata Reza, Sabtu, 27 Juni 2015.
Menurut analis dari PT NH Korindo Securities Indonesia itu, belum adanya sentimen positif menutup peluang indeks saham untuk dapat kembali rebound. Reza mengatakan jika belum terjadi volume pembelian yang cukup besar, sulit bagi IHSG untuk kembali rebound dan mempertahankan penguatan.
Reza berharap aksi jual mulai mereda dan dukungan dari rilis data yang positif bisa mengurangi sentimen negatif. "Semoga laju IHSG menguat di pekan depan. Tapi tetap antisipasi sentimen yang akan datang.".
Pekan ini, dia menjelaskan, pelemahan bursa saham Amerika Serikat dan Eropa akibat belum tuntasnya masalah utang Yunani membuat laju bursa saham Asia melemah. Sempat ada penguatan di awal sesi yang mendatangkan harapan menguatnya IHSG, tapi pelaku pasar memanfaatkan penguatan untuk profit taking.
Rencana pemerintah yang membuka keran ihwal kepemilikan orang asing pada properti belum cukup kuat mendorong indeks saham. Menurut Reza, pelemahan yang terjadi membuka peluang pelemahan lanjutan jika tidak diimbangi oleh aksi beli. "Sentimen yang mewarnai IHSG kemarin lebih banyak negatifnya. Kalaupun ada sentimen positif hanya dijadikan ajang profit taking," kata dia.
Pada penutupan perdagangan jelang akhir pekan, IHSG di Bursa Efek Indonesia (BEI) menguat tipis 2,96 poin atau 0,06 persen menjadi 4.923,01. Sementara kelompok 45 saham unggulan atau LQ45 naik 1,46 poin atau 0,17 persen menjadi 842,36.
ADITYA BUDIMAN
... secara kuantitatif, besaran DANA YANG BAKAL BERMASALAH @ GREXIT (Yunani keluar dari Eurozone) itu LEBE IMUT daripada DANA YANG NYANGKUT DI FED FUND ... well, yang kualitatif itu AMAT BESAR yaitu KEUTUHAN EUROZONE ... ya, kita liat aza lah :) (peluang bwat BELI SAHAM YANG BERFUNDAMENTAL BAGUS n MURAH "murmer")
nyt: Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece By ANDREW HIGGINS JUNE 25, 2015 SOFIA, Bulgaria — When Greece looked as if it might default on its debts early this year, Nikolay Stoyanov, a Bulgarian financial journalist, decided he had had enough of “Greek madness.” So he withdrew his modest savings from one of four big Greekowned banks that do business in Bulgaria and moved it to his wife’s account at a Germanowned lender. He said he was not particularly worried that he might lose his money, but simply wanted to be on the safe side after following the dizzying twists and turns of the Greek debt drama as part of his daily job. He kept his account open at a Bulgarian branch of Greece’s Alpha Bank, but now uses it only to receive his salary and pay electricity and other bills. With Alpha and three other of Bulgaria’s top 10 banks owned by Greek lenders caught in a whirlwind of fear and panic at home in Greece, Bulgaria, a former Communist country that is today the poorest member of the European Union, has found itself under unwelcome scrutiny from financial experts and Western banks 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 2/5 worried that Greece’s troubles could spread havoc farther afield. Also in their sights are Serbia, Macedonia and Romania, other nations at the center of a nowabandoned push by Greek banks to expand their operations into foreign markets. But it is Bulgaria, where Greekowned lenders hold around 20 percent of deposits and exporters depend on Greece for about 7 percent of their business, that “stands out as the one that has the most to lose from a potential further collapse of the Greek economy,” Morgan Stanley said in a research note in May. Many experts agree that Greekowned banks in Bulgaria, unlike their parent companies in Greece, are financially sound, with healthy balance sheets and large amounts of cash. They also have a better reputation than Bulgarianowned banks, one of which — the country’s fourthbiggest lender — went bust last year in a blowout that shook the financial sector. But what makes the Greek drama so potentially dangerous is that nobody knows what irrational and destructive forces could be unleashed if Greece fails to reach a deal with its creditors and stumbles toward a default and even an exit from the euro currency. In Brussels on Thursday, a negotiating session on the debt crisis ended without a resolution. “If everything is messed up in Greece, you never know what madness this could create,” said Peter Andronov, the chairman of the Association of Bulgarian Banks and the country manager in Bulgaria for a Belgian banking group, KBC. Even countries with no Greek banks or other obvious routes of contagion question the assurances of officials in Brussels and elsewhere that Greece, unlike five years ago when its crisis began, has been safely quarantined. Opening a highlevel conference last week in Slovakia on challenges to the postCold War order, Miroslav Lajcak, the Slovak deputy prime minister and foreign minister, warned that while Greece accounted for only a tiny portion of the European Union’s economy, a default on its debts “would send shock waves 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 3/5 across the whole of Europe.” President Rosen Plevneliev of Bulgaria, which joined the union in 2007 but still uses its own currency, the lev, said he was “very worried” by events next door in Greece. But, in an interview at his offices in Sofia, the president dismissed any risk of Greece’s troubles infecting Bulgaria through its banks, insisting that Greekowned lenders in Bulgaria have no exposure to Greek debt and face no risk of Bulgarian depositors stampeding branches to demand their money back. “We have seen so many crises around us, there is nothing more that surprises us,” Mr. Plevneliev said, insisting that Bulgaria’s deeply entrenched sangfroid would prevent panic among depositors. All the same, he keeps his own money at Deutsche Bank in Germany, where he lived for many years, and at a local subsidiary of Austria’s Raiffeisen. But, as the owner of a home in Greece, he said he also had a bank account there to pay his bills. “We want Greece to succeed,” he said. Mr. Stoyanov, the financial editor of Kapital, a Bulgarian business newspaper, agreed that Greekowned banks in Bulgaria seemed sound, but cautioned that a Greek default could scramble rational calculation and lead to “uncontrollable problems.” Customers at Greekowned banks in Sofia, the Bulgarian capital, so far show little sign of concern. “I have no worries. I only get my pension here,” said Snejana Doktorova, a 68yearold client of United Bulgarian Bank, which, despite the name, is Greekowned. Another Sofia resident, who asked to be identified only by his first name, Vasil, however, voiced concerns that show how fickle and unpredictable the trust that underpins banking stability can be. He said that he had withdrawn 10,000 euros, or about $11,000, and closed his account at the Bulgarian subsidiary of Greece’s Piraeus Bank — not out of any fear that it could go bust but out of political conviction after the victory in January elections of Syriza, the radical leftwing party now in power in Athens. “I’m against Communists and was deeply disappointed when the Greeks elected a Communist 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 4/5 government,” he said. According to calculations by Kapital based on Central Bank data, deposits in Greekowned banks in Bulgaria fell by nearly a billion lev, around $580 million, in the first quarter of this year, the last period for which data is available. It is a small amount compared with the more than $4 billion yanked by depositors in Greece last week but, according to Kapital, is still “a little scary.” Officials at Bulgaria’s central bank declined to comment, maintaining what Bulgarian journalists called a policy of silence on potential risks to the banking sector. “When you keep everything silent, it looks fine on the surface, but it is a bit of an illusion,” Mr. Stoyanov said. All the same, remaining mute is perhaps a wise strategy in view of the fact that few people trust what the central bank says after its failure to stop the rot at Corporate Commercial Bank, known as K.T.B., which collapsed last summer. The governor of the central bank, who has faced relentless criticism over the K.T.B debacle, announced this week that he was resigning. “We don’t believe in anything, including ourselves,” said Ognyan Minchev, the director of the Institute for Regional and International Studies, a research group based in Sofia. Mr. Andronov, the bankers’ association chairman, said he understood the reluctance to discuss the risk of Greece infecting Bulgaria’s weak but stable economy. “If you start talking too much you create a panic,” he said. Greekowned banks, he added, are entirely stable, with liquidity levels higher than the norm and no direct link to Greece “other than their owners and brand name.” International banks, it seems, have also come to much the same conclusion, that short of a catastrophic crisis of confidence set off by a Greek default and exit from the euro, Greekowned banks here are healthier than their parent companies in Greece. Deutsche Bank, in its report on Bulgaria, asserted that “potential contagion is mitigated” by the Greekowned banks’ conservative lending practices and other factors. 6/28/2015 Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece The New York Times http://www.nytimes.com/2015/06/26/world/europe/bulgariafearsfalloutfromgreecesfinancialtroubles.html?_r=0 5/5 But it has also helped the Greekowned banks here that Bulgarianowned banks, many of which have been tarnished by murky connections to political figures, have such a bad image. “They are perceived as more stable than local banks,” said Georgi Angelov, an economist at the Open Society Institute in Sofia. Correction: June 25, 2015 An earlier version of this article misspelled the name of an Austrian bank. It is Raif eisen, not Raif heisen. Correction: June 25, 2015 An earlier version of the above correction misstated the nationality of the bank Raif eisen as Swiss. Boryana Dzhambazova contributed reporting. A version of this article appears in print on June 26, 2015, on page A11 of the New York edition with the headline: Despite Assurances, Bulgaria Fears a Spillover of Troubles From Greece .
deutsche welle : By the end, the finance ministers of the Eurogroup needed no more than two hours to show their Greek counterpart the door. Yanis Varoufakis could find no one else to listen to him. Instead, the 18 other members of the currency union drew the consequences of the actions of his government.
Up until then, they had shown Athens Buddhist levels of patience, and allowed themselves to be dragged back to Brussels five times in 10 days, only to meet the inflexibility of the radical group from Greece. Alexis Tsipras and his ministers seemed to think they could not only lead the Eurogroup round the circus, but impose their own will on it. Or did the prime minister and his Syriza party not want a result at all? The majority of the finance ministers came to the conclusion that Athens had gone too far, and finally ended the ongoing drama. And it was high time!
Shamelessness as a political method
After the summit in Brussels, the German chancellor had called on Athens to accept the creditors' latest offer, which she described as "exceptionally generous." A few hours later, the answer came from Alexis Tsipras, who announced a referendum on Greek TV, and recommended that his people dismiss the offer.
Great expectationsDiplomatically speaking, direct democracy is pretty much the biggest act of shamelessness imaginable. Because that same afternoon, Tsipras had once again sought a private conversation with Merkel and French President Francois Hollande, where, as far as we know, he had told them nothing of his plans. There was a phone call that evening with Berlin, but that did not lessen the snub. When Merkel declared her hope that there could still be a positive result, her Greek counterpart must have already made his plan.
This Greek government has broken every political and diplomatic rule. This was more than simply lack of manners and revolutionary directness. The Greek representatives behaved arrogantly, without it ever being apparent what their limitless expectations were based on.
They wanted their government to be financed by the European taxpayer, without limit, and they were out to insult the other euro countries while they were doing it. It is just stupid to drive your country to the wall while caught up in your own rhetoric.
Alexis Tsipras is pulling Greece into the abyss, not because there is no other option, but out of vanity. The eurozone did not want to accede to his demands, so now he is risking dragging his country into bankruptcy and out of the euro. That is more than irresponsible, because for months polls have shown that he has no mandate to do that. If he had the wellbeing of his people at heart, he would have accepted the creditors' last offer. That would have given him time until November to bring the economy back on track and continue negotiating. Now he is choosing the leftist wing of his party and their ideology over his people. He will go down in history as another Greek leader who has completely failed while in office - worse than his predecessors. Barring a miracle, Greece could sink into chaos and bankruptcy. The Greek people should chase Tsipras out of office as quickly as possible.
TEMPO.CO , Jakarta: -Analis pasar modal, Reza Priyambada menilai Indeks Harga Saham Gabungan (IHSG) masih akan diuji di level 4.800. Laju indeks yang fluktuatif tampaknya masih akan menghiasi perdagangan. "Pekan depan, IHSG diperkirakan berada pada rentang support 4.885-4.950 dan resisten 4.965-5.000," kata Reza, Sabtu, 27 Juni 2015.
Menurut analis dari PT NH Korindo Securities Indonesia itu, belum adanya sentimen positif menutup peluang indeks saham untuk dapat kembali rebound. Reza mengatakan jika belum terjadi volume pembelian yang cukup besar, sulit bagi IHSG untuk kembali rebound dan mempertahankan penguatan.
Reza berharap aksi jual mulai mereda dan dukungan dari rilis data yang positif bisa mengurangi sentimen negatif. "Semoga laju IHSG menguat di pekan depan. Tapi tetap antisipasi sentimen yang akan datang.".
Pekan ini, dia menjelaskan, pelemahan bursa saham Amerika Serikat dan Eropa akibat belum tuntasnya masalah utang Yunani membuat laju bursa saham Asia melemah. Sempat ada penguatan di awal sesi yang mendatangkan harapan menguatnya IHSG, tapi pelaku pasar memanfaatkan penguatan untuk profit taking.
Rencana pemerintah yang membuka keran ihwal kepemilikan orang asing pada properti belum cukup kuat mendorong indeks saham. Menurut Reza, pelemahan yang terjadi membuka peluang pelemahan lanjutan jika tidak diimbangi oleh aksi beli. "Sentimen yang mewarnai IHSG kemarin lebih banyak negatifnya. Kalaupun ada sentimen positif hanya dijadikan ajang profit taking," kata dia.
Pada penutupan perdagangan jelang akhir pekan, IHSG di Bursa Efek Indonesia (BEI) menguat tipis 2,96 poin atau 0,06 persen menjadi 4.923,01. Sementara kelompok 45 saham unggulan atau LQ45 naik 1,46 poin atau 0,17 persen menjadi 842,36.
ADITYA BUDIMAN
... secara kuantitatif, besaran DANA YANG BAKAL BERMASALAH @ GREXIT (Yunani keluar dari Eurozone) itu LEBE IMUT daripada DANA YANG NYANGKUT DI FED FUND ... well, yang kualitatif itu AMAT BESAR yaitu KEUTUHAN EUROZONE ... ya, kita liat aza lah :) (peluang bwat BELI SAHAM YANG BERFUNDAMENTAL BAGUS n MURAH "murmer")
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