Greeks continue to protest this second bailout package due to the extreme austerity measures it puts on the Greek people. The people of Greece have already dealt with extreme austerity measures from the first bailout package.
Greece’s finance minister, Evangelos Venizelos, is expecting a deal to be done at some point today. “We expect today the long period of uncertainty—which was in the interest of neither the Greek economy nor the euro zone as a whole—to end,” Venizelos said in a statement. Who knows if that will actually happen. We’ve been hearing a Greek deal is done for months now.
The Netherlands have insisted that Greece meet all its obligations before it would approve any additional bailout packages. Some officials worry that Greece will not adhere to new austerity measures after their elections in April. The Greek people are deeply against the austerity measures as they have suffered greatly doing the bidding of the bigger EU countries.
If a Greek deal is signed today, the overall market should rally. If not, then uncertainty and fear will creep back into the market.