Weakened by European delay over Greek bailout funds as well as the disappointing FOMC minutes which provided no hints of QE3 the JCI finished 25.44 points lower or shed 0.64% to end at 3,927.61 while the LQ-45 index also slipped 5.64 points or 0.82% to finish at 681.55.

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Twenty-two stocks booked gains on Wednesday while ten were unchanged and the other thirteen stocks finished in the red. The JCI index itself ended at 3,953.05 or up slightly by 0.23 points or 0.01%, while the LQ-45 index finished down 0.98 points or 0.14% at 687.00.

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That was the essence of what Greek PM Lucas Papademos asked from his ministers as the Greek saga moves on. Four ministers from the LAOS party resigned as a result, while Saturday and Sunday will see Greeks on strike again. Despite these drawbacks, the Cabinet has approved the budget and this should be able to secure the 130B euros of loans from the Troika. U.S. stocks which had seen the light at the end of the tunnel on Thursday came crashing on Friday as the EU finance ministers asked more…

Despite the Greek political leaders finally accepted the austerity proposal which could lead to the disbursement of the next tranche of aid money, the EU finance ministers deemed the agreed points are just not enough. EU finance ministers wanted the agreement to be ratified at the parliamentary level as well as more squeeze on the government spending and, in addition to provide assurances from political leaders so that whatever happens at the poll this year, the austerity program will be…