Statements are increasing demand for greater involvement of the European Central Bank in supporting countries' debt fragile. Germany opposes even his veto. But until when? German Chancellor Angela Merkel.
The list of support for bold action from the European Central Bank (ECB) on the European debt grows by the day. On Tuesday the United States have supported through the U.S. ambassador to the European Union. William Kennard suggested essentially the ECB to take as an example the action of the Fed during the crisis. Much more direct, the former head of Credit Lyonnais Jean Peyrelevade said that "if one does not involve the ECB, while Petera." This does not prevent the leaders of the Central Bank to resist these demands, aided by Germany, its largest shareholder.
Cash lenders will loan anything from a couple of hundred dollars to around $1500, which generally must be paid back in full, along with the interest, within two to four weeks.The new Italian Prime Minister presented his austerity plan to rescue the country from the grip of the market. Mario Monti – who is also Minister of Economy – promised to keep the accounts of Italy, while stimulating growth for the time being very sluggish. Mario Monti.
The new Prime Minister Mario Monti on Thursday presented a very ambitious program of austerity and recovery to restore "credibility" of Italy and help save the euro in a European Union through its worst crisis of the post the war. "Discipline, Growth and Equity" are the great watchwords of Mr Monti, which was the first speech programs before the Upper House of Parliament before it obtains in the late evening with confidence 281 votes support of 307. The vote of confidence of the members are expected Friday and should get on this occasion also an overwhelming majority.
Scavengers and transport agents have been on strike for eight days in Athens. They protest against wage cuts under the new austerity plan. Their movement caused the accumulation of tons of garbage in the city. Thousands of "outrage" expressed Sunday, June 19 against the austerity of Syntagma Square in Athens.
Athens was again denied Monday transport due to a 24-hour strike, while tons of garbage piled in the streets after more than a week of mobilization scavengers against wage cuts. No subway, bus, trolley and tram, with only the train interbanlieue running, the main lines of the Greek capital was delivered to huge traffic jams, as on several occasions in recent weeks.
Employees of organizations from the metro and buses, which are manifest in the early afternoon in the center of the capital, protesting against investment in short-cuts and new salary, recently announced by the government, under pressure from country's creditors, the European Union (EU) and the International Monetary Fund (IMF). In turn, municipal employees responsible for waste removal began their eighth day of the strike, while the only landfill in the city remained closed. Torrential rains in the morning had drained the garbage on the roads, aggravating the condition of the streets.
Several government agencies, such as the National Agency for Medicines (EOF), the National Laboratory of Chemistry and the Society of IT Management of Social Security (Idika) were also occupied by their staff.To protest against new measures to cut public sector officials have observed a 24-hour strike Wednesday, the day some 30,000 employees of government departments and public bodies demonstrated in Athens and Thessaloniki (north).
A general strike in the public and private sectors is also scheduled for Oct. 19. The representatives of the troika of the country's creditors (Commission and European Central Bank, IMF) Monday also continued their audit of the Greeks, for the discount provided by 24 October of a report based on which area euro to decide the payment of a portion of eight billion euros, vital to the country always on the verge of bankruptcy.
The European Central Bank has not changed interest rates on Thursday, the rise in inflation last month having won on expectations of lower rates in response to the deepening crisis in the euro area.
The refinancing rate remains at 1.5%, the deposit facility rate to 0.75% and the marginal lending rate to 2.25%.These rates have not budged since 7 July, when all three were found a quarter of a point.
President Jean-Claude Trichet will give his final at 12:30 GMT news conference before handing over to the end of Mario Draghi.
The markets are wondering if a possible break leave for the ECB to lower rates anyway by the end of the year or if it will announce the resumption of bidding Long.
Shaken by a drop in subscriptions, the magazine of the National Institute of consumption could increase in the private sector, the risk that its credibility challenged.
While its competitor, the UFC-Que Choisir a hit, the magazine "60 million consumers" has seen its sales plummet by 22% between 2008 and 2011, according to an audit of the accounting firm of MBV & Associates, commissioned by the National Consumer Institute (INC), owner of the title. The erosion is partly due to the termination of a policy of recruiting new subscribers in recent years. Now, to return to profitability, the magazine should flow to 200,000 copies, twice today.result, the UFC-Que Choisir has 420,000 subscribers to 30 million euros in revenue and 60 million consumers of only 100,000 subscribers to 10 million euros.
For MVB & Associates, a status quo would lead to accumulated losses of € 4 million over the next three years, involving the continuity of the title. Conclusion of the firm: the magazine must be backed by the private sector, the only way to inject € 18.5 million for its re-floated. For now, while the parliament is considering a draft law on consumer rights, no decision has been taken and two scenarios are being studied in INC.
Two scenarios under consideration
"Either we are content to mobilize internal resources at the institute who are not fertile and we made a small raise of the subscription.However this can not go very far, "said Francis Amand, president of the board." Either we have a more ambitious recovery and growth capacity, requiring more funding that could come only from a private operator, "he added. A decision could be taken at a board of directors of the INC on 9 November.
The scenario of backing caused an outcry among staff and among some readers, who fear for the independence of the magazine. "Regulators want to get rid of the newspaper." 60 million "can not keep its identity and mission of public service outside of the INC," said Lionel Maugain, staff representative on the board. A support committee was set up by readers and journalists to oppose any backing to the private sector.Thursday, nearly 7,000 people had signed.
"It is difficult to an investor put money in a way that could not provide a lot of sales because the potential reader would think that this title is biased," assured Francis Amand. A charter could also be signed to ensure editorial independence, he said.
"60 million" was founded in 1970 by the INC, who realized that TV shows were not enough to inform the consumer. nitially released under the name "50 million consumers," the magazine is primarily known for its main comparative tests on the appliances. Then he is getting stronger with campaigns that make loud noise on the soaring prices and declining purchasing power, or on the Harms dyes, abuse of trustees and breathalyzers unreliable.A score of journalists working for the magazine, working closely with engineers, lawyers and economists INC.
Release published Wednesday the details of the debt of French local authorities have signed 5500, the report said, toxic loans from the bank Dexia Credit Local (DCL) between 1995 and 2009.
The daily said that based on a confidential file of the bank, writes that DCL had distributed 25 billion euros for its customers at the height of the "bubble".As estimated by the bank, the additional cost of these loans was estimated at 3.9 billion euros at end 2009, reports Liberation.
"The bank common that ruined 5000", as Libération, which published on its website (www.liberation.fr) a map of the communities adhering toxic loans from Dexia.
Release cites the example of Antibes, which would have borrowed 60 million and 21 million would pay in addition to that amount, or department of the Loire, which is expected to repay 22 million in excess of 96 million toxic loans.
Dexia declined to make immediate comment but a spokesman said the bank did not rule upon "appropriate action in the interests of Dexia and its customers."
The European Commissioner for Economic and Monetary Affairs Olli Rehn said on Thursday that in his opinion, all States in the euro area have ratified the amendments to the bailout fund EFSF to the end.
Olli Rehn, speaking in Wroclaw in Poland is to be held an informal meeting of finance ministers of the European Union (Ecofin) on Friday and Saturday, also said he expected a "serious discussion" on the efforts of Greece during the two days.
The Finnish Commissioner stressed the importance of reaching early agreement on the guarantees demanded quick to Greece by Finland in the second rescue package granted to the country.
The French president in whirlwind visit to Beijing to prepare for the next G20, estimates that China has "a major role" in reviving global growth. "We need the G20 summit (…) make decisions and take part in the revival of global growth. This is a major issue and China has a key role," said Nicolas Sarkozy.
The next G20 summit in Cannes will "decide" to revive the global economy, China is playing a "major role" in the process, said Thursday in Beijing Nicolas Sarkozy. The French president was greeted by his counterpart Hu Jintao at the Palace of the people of Beijing, Tiananmen Square, for a whirlwind tour of about five hours, with talks on Libya and sovereign debt crisis, and a dinner working with the Chinese president.
"As chair of the G20, I could not imagine not coming to China to talk with my Chinese friends of the great economic issues of concern to the world," said the head of the French state. "We need the G20 summit (…) make decisions and take part in the revival of global growth. This is a major issue and China has a key role," he added, to sides of the Minister of Finance Baroin came just prepare for this appointment.
The next summit of the G20 (group of rich countries and major emerging markets, currently chaired by Paris) will be held in Cannes (south-eastern France) on November 3 and 4. "That France and China strengthen their dialogue is of great importance for the success of the summit in Cannes, for strengthening international economic cooperation and to promote recovery and healthy development of the global economy," said Hu Jintao.
Paris and Beijing in phase of the post-Qadhafi
Nicolas Sarkozy is located in Beijing while the fall of the regime in Libya is not complete: the remaining pockets of resistance in Tripoli after the entry of rebel and Colonel Qaddafi is not found. But after being in Paris on Wednesday the number two of the rebellion Libya, Mahmoud Jibril, Sarkozy has proposed a conference of "Friends of Libya" on 1 September in Paris, which would go beyond the mere contact group and include the major emerging economies such as China. If China was hostile to the coalition strikes against Libya, it is however in line with Paris on the post-Qadhafi since Beijing also wants to see the UN play a "leading role" in Libya.
But the official newspaper China Daily Thursday gave a somewhat optimistic vision of the post-Gaddafi, saying "inevitable chaos and conflict emerge as the various opposition factions will fight for the political leadership." "China must maintain contact with all parties," added the newspaper.
The presidents Sarkozy and Hu should also talk about the problem of sovereign debt in Europe that undermine stock markets. The Global Times said Thursday in its Chinese version that Sarkozy "has just (in Beijing) first to get the continued support of China on the resolution of sovereign debt crisis in Europe." Considering that "26% of foreign exchange reserves of China are in euros," Ding Chun, professor at the Center for Research on Europe at the University of Fudan, Shanghai, called in the official newspaper of Europe to put the finances in order.
"The EU and Sarkozy have, while calling on China to take more responsibility in maintaining the stability of the global economy, making a decisive and courageous sacrifices (…) that developed countries must to face global challenges. " After a press statement, Mr Sarkozy will resume early in the evening fly to New Caledonia where it is to open Saturday the fourteenth game of the Pacific.
Google announced Monday the acquisition of Motorola Mobility for approximately $ 12.5 billion (8.7 billion euros) in cash to strengthen the market share of its operating system for mobile phones Android.
The internet giant will pay $ 40 per share, a premium of 63% over the course of its target at the close Friday on the New York Stock Exchange.This is the largest acquisition ever by the group of Mountain View.
In pre-market transactions, the title Mobility Motorola jumped from 59% in pre-market, that of Google fell by 2.8%.
Google has built a special place in the smartphone market with Android, that team almost 50% of the combined media around the world, but the group suffers from a lack of intellectual property in the wireless telephone to deal the Apple iPhone.
"Google wants to provide a total experience with hardware and software (like Apple)," notes Colin Gillis, an analyst at BGC Partners.
Google says to expect the transaction to be completed by late 2011 or early 2012.The transaction was unanimously approved by the boards of the two groups.
The U.S. retailer Wal-Mart is in talks to buy the Brazilian subsidiary of Carrefour, said Tuesday the newspaper Valor Economico.
Officials from Wal-Mart are in direct contact with their French counterparts, writes the newspaper.
The two groups had in 2009 negotiated a merger, but talks had failed because of disagreement on the valuation of assets.
These new negotiations would occur while the Brazilian businessman Abilio Diniz gave up in July to its proposed merger between the Brazilian distributor Grupo Pao de Acucar (GPA), controlled by Casino, Carrefour and the subsidiary in Brazil.