The comments made yesterday by the new Italian government attempted to reassure people, but realistic. On the occasion of a brief statement to the press, the former European Commissioner said that Italy could "win" the debt crisis through a "collective effort" payday loans no teletrack.Mario Monti also found that Italy, a founding member of the European Union, would be "an element of strength, not weakness." Thus, he said, the objective of the new government will "clean up the financial position and resume the path of growth in a context of increased attention to social justice." Meanwhile, the Italian Senate passed this weekend the anti-crisis plan promised the European Union.

Mario Monti had to race to form a new government as soon as possible, within ten days. From last night, the new head of state has initiated consultations to obtain a broad political consensus.

The return to growth, albeit slow, is scheduled for 2013 (1.3% in euro area and 1.5% in the EU). Unless additional shock …Olli Rehn, European Commissioner for Economic Affairs has indeed warned that Europe could "experience a new recession." He urged governments to restore confidence in "fiscal sustainability and the financial system" by accelerating the reforms. For the European Commission, the restoration of that confidence is well underway. "The measures adopted in recent months should help to remove uncertainty regarding sovereign debt and the financial crisis in mid-2012, and this should gradually unlock investment and consumption," says his report.

In France, Brussels forecasts should take a cold. François Fillon on Monday presented a new plan of austerity measures designed to bring 65 billion euros by 2016.

Now the group through a period of turbulence. Consequence of the current economic gloom, it may well issue a warning on its results in the publication of its accounts for the period April to September under November 9, said BFM Business on Tuesday. Now he hoped to bounce back after suffering a net loss of 197 million euros over the period April to June 2011.In the wake of a meeting with management, a union then estimated at Figaro that "if growth was not at the meeting, a plan for removal on 5000 to 10,000 jobs would be to fear cash advance now."

Undermined by these uncertainties and the lack of clear prospects, Pierre-Henri Gourgeon was forced to resign last week. The directors then indicated that "he was committed to stop the evolution towards a concrete structure group Air France-KLM, to focus on recovery required the two companies." Again in control group, Jean-Cyril Spinetta immediately set the tone by giving the task to Alexander Juniac new CEO of the group, "to respond to the emergence of new competitors, particularly low cost."

Still, this strategy could exacerbate climate distrust between labor and management.

This scenario of a sudden release of nuclear energy in twelve months is not the political fiction. It is seriously considered by officials and experts. Asked about this possibility by Le Figaro last week during his visit to Paris, the new Japanese Minister of Economy, Yukio Edano, kicked into touch. And answered: "We have confirmed the safety of reactors stopped before restarting. I can not tell you when. "

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Currently, only ten of fifty-four reactors are in operation Payday Loan for Bad Credit.Given the economic downturn, electricity consumption is expected to decline 4% this year compared to 2010.

Gas purchases up

To compensate for the cessation of nuclear power plants, Japan has a large fleet of oil-fired power plants, coal and gas but several were damaged by the earthquake. The Japanese also built in recent years of LNG terminals to house liquefied natural gas (LNG) imports. Tokyo has spent the last months of gas contracts with Qatar and Indonesia and in July, its oil demand rose 4% year on year.And purchases of gas to run them at current price, would cost between 15 and 20 billion.

While managing the emergency, the government of new Prime Minister Yoshihiko Noda has promised to set a new energy policy in the summer of 2012 to 2030.

Shortly before 4 am, France, Germany and the euro zone countries are agreed after intense negotiations with creditor banks on a 50% discount on debt securities Greek removing the last obstacle to a comprehensive plan of response to the debt crisis. The contribution of the private sector, coupled with an effort of the States of the euro area of ​​130 billion euros, will bring the Greek debt of over 160% of GDP today to 120% in 2020, said Nicolas Sarkozy.The French president also said that the means of relief funds in the euro area (EFSF) would be "multiplied" in order to reach "1.4 trillion dollars," or "1000 billion euros." For Nicolas Sarkozy, "the summit has to adopt elements of a comprehensive response, an ambitious response, a credible response to the crisis in the euro area". Even if the plan is still very fragile if the economy of Greece does not improve, he said.

The surge in the yen threatens Japan

For its part, the IMF Executive Director Christine Lagarde welcomed the "substantial progress" made at the EU summit in Brussels, welcomed the leaders of the euro area have set up "a program that will respond to the crisis in the region ".Greek Prime Minister George Papandreou, for its part considered that a "new era" began in Greece, speaking of a "new beginning" with this debt reduction Greek.

On the macroeconomic front, the Central Bank of Japan announced Thursday a further easing of monetary policy to fight against soaring yen that threatens the recovery of the Japanese economy.The institute has decided to increase 5 trillion yen (47 billion) purchases of treasury bills, increasing to 55,000 billion yen (519 billion) the maximum amount it spends on purchases of government bonds, corporate bonds and other financial securities, and loans at preferential rates.

The euro has strengthened

In addition, retail sales continued to decline in Japan in September, from 1.2% yoy, due to the fall in purchases of TVs after an exceptional run in early summer, announced the Ministry of Economy Thursday. However, car sales have stopped their dive.Consumers remain cautious overall spending due to fears generated by the earthquake and tsunami in the northeast of the archipelago on March 11 and the Fukushima nuclear accident they caused.

Side values, the action of the group of cameras Olympus flew more than 20% Thursday at the Tokyo Stock Exchange, following the resignation of its CEO Tsuyoshi Kikukawa, accused by his British predecessor Michael Woodford to have overcharged acquisitions between 2006 and 2008.

The euro has strengthened, buoyed by hopes of resolving the crisis in Europe. It was worth 106.26 yen and 1.3975 dollars in Tokyo Thursday morning, 1.3908 against the dollar and 105.98 yen in New Yok the night before.

Finally, oil was up, after the sharp fall the previous day in New York.In electronic trading in the morning, a barrel of "light sweet crude" gained 1.11 dollar to 91.31 dollars a barrel while Brent North Sea crude for December delivery took 70 cents to 109.61 dollars.

On the issue of Greece, progress, assured the leaders without giving details.The stabilization of the indebted country will pass through international loans and additional losses of creditor banks in the country. Europe the figure to at least 50%. According to the report of the troika (representatives of the EU, the ECB and the IMF), the discount should be 60% to maintain unchanged the envelope of € 109 billion promised to Greece, as part a second rescue plan officially recorded on July 21.

Main stumbling block between Paris and Berlin, the transformation of the European Financial Stability Fund (EFSF) in the bank, which insisted on France, finally does more of the options considered by the finance ministers of the single currency. The idea was that the Paris Fund bank can borrow from the European Central Bank. "The two options still on the table to strengthen the EFSF do not involve the ECB," confirmed the German Chancellor.This leaves two options: either the mechanism acts as a partial insurance of the public debt of troubled countries or the IMF is expected to increase its participation in the scheme.

In another area, "the work is progressing well on the recapitalization of banks," said Nicolas Sarkozy, again without providing details on the proposed solutions. Countries of the European Union discussed a budget from 107 to 108 billion euros at the meeting of finance ministers on Saturday night. "Banks must find the money markets," stressed Angela Merkel.

Finally, the pressure on Italy is maximum. The two leaders urged the Italian Prime Minister Silvio Berlusconi, with whom they met ahead of the summit, for it to decisively implement a program of growth and debt reduction Alps no fax payday advances."I hope that decisions will be taken (…) Italy is a major economic force but it has a very high public debt should be reduced in a credible manner in the years to come," says Angela Merkel . Nicolas Sarkozy has outbid by saying that Paris and Berlin were "confident sense of responsibility of all the Italian authorities' political, financial and economic."

"Do not repeat the mistakes of the past"

"We must work differently in the future," said Angela Merkel. German Chancellor said that we should not "repeat the mistakes of the past." The problem of the euro area far exceeds that of Greece, she hammered, emphasizing the need for each country to conduct "a tighter fiscal policy."The President of the European Union, Herman Van Rompuy, confirmed on Sunday that the EU treaty could be modified to improve the functioning of the euro area. "The aim is to deepen our economic union and strengthen our fiscal discipline," he said.

Europe is facing economically to "serious challenges", said Herman Van Rompuy, at the opening of the EU summit this morning. He felt that the decisions to be taken by EU leaders to deal with were "perhaps the most important" they've ever had to face the financial crisis. Greek Prime Minister George Papandreou, had also felt it was "time" to take "decisive and effective." "It is clear that the crisis (debt) is not Greek. This is a European crisis, "he judged.

For its part, the Belgian Prime Minister Yves Leterme had tried hard not announce anything at all on Sunday, in light of market pressure. "It is essential for tomorrow morning at the opening of markets, we have made sufficient progress so as not to jeopardize the credibility of the euro area," he said. Same story for the European partners have not adopted the single currency, which are concerned about the fallout from the debt crisis. "The crisis in the euro area is being extended to all our economies, including that of Great Britain ', launched the British Prime Minister David Cameron.

(With agencies)

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According to experts gathered at the end of last week on the occasion of international meetings of PPP, 104 such contracts have been signed. The European Investment Bank has calculated that it accounted for 9 to 10 billion euros, or 6 or 7% of public procurement in the Hexagon. "We are the first European country in terms of PPP, said François Bergère, Head of MAPP (Mission Support PPP). In the first half, 60% of registered contracts on the Old Continent were signed in France. "

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Why the rise? Because this arrangement allows the state and local governments increasingly impecunious to build infrastructure by private funds. Specifically, the construction company built largely at the expense of the equipment. In return, she receives a very long time (decades) the rent paid by the public to maintain the structure.Today, we build on this model just about anything you can imagine: prisons, stadiums, swimming pools as well as police stations, TGV lines … and the formula adjusts as well to huge contracts ( more than 7 billion for high-speed rail line Tours-Bordeaux) than smaller deals (ten million for public lighting of a city average).

In the euphoria of the beginning, we mostly retained the advantages of this approach: greater compliance costs and delays faxless cash advance. "In the PPP, 71% of projects are delivered on time and 80% are made in the envelope provided or an additional cost of less than 3%," says Christian Rasoamanana, consultant for the consulting firm PWC has just loop a study on the subject."This allows us to carry out four projects simultaneously (the TGV line between Tours and Bordeaux, that between Le Mans and Rennes, Nîmes-Montpellier bypass GSM and rail), said Jean-Marc Delion, Managing Director of RFF. Without PPP, we would have done that. "

The failure of the hospital south-Ile

But today, this model also raises critical. Thus, the hospital built in south-Ile PPP Eiffage is a failure. The planned opening in May 2011 will take place as early as January 2012. "I believe that there was injury to the State, noted Sunday on Canal +, Xavier Bertrand, Minister of Health. Do we remain in the same terms of the contract? We'll see. "Regarding the TGV lines, some argue that the partnership is too favorable to the public."On Tours-Bordeaux, the dealership made up of Vinci and its partners brought the third of the investment but receive 100% of the revenue generated by the passage of trains," protested Marc Fressoz, author of FGV, failure at high speed.

Others point out that the formula has its limitations. "The PPP will not return TGV lines as Bordeaux-Toulouse without sufficient traffic," said Hervé Mariton, UMP deputy, member of the Finance Committee.

On the front of the debt crisis in the eurozone, the European Commission President Jose Manuel Barroso presented this afternoon at the European Parliament its proposals to support the banking sector. It should be "emergency" recapitalize the banks, he said.He also called for increasing the EFSF and accelerate the replacement of it by a permanent, mid-2012 instead of mid-2013.

In Slovakia, a second vote could be held Friday with the support of the left opposition. "It's not good news but I trust the authorities of Slovakia to hold a second vote," said Wednesday morning the French Minister of Foreign Affairs Alain Juppé on radio France Info. For its part German Chancellor Angela Merkel said that strengthening the EFSF be ratified "in October." The Slovak Parliament was the last to vote on the strengthening of the European relief fund.Indeed, the unanimity of the country is essential to confirm the agreement reached by the Heads of State on July 21.

Berlin and Paris commitments marchésLes reassure the weekend by Germany and France had restored some hope to the financial markets. Last Sunday, Nicolas Sarkozy and Angela Merkel have in fact committed to respond "lasting and comprehensive peace" to the crisis in the euro area for the G20 summit in Cannes, 3 and 4 November. About the difficulties of the European banking sector, the two leaders said they were "determined to do whatever it takes to ensure the recapitalization of our banks." But again, the "details" to be specified later, and the EU summit scheduled for October 17 and 18 was postponed to October 23.After several missed appointments with the financial markets, Europe hopes this time strike a blow to stop the contagion of the crisis in the euro area.

The euro will always be a "hard currency", has also assured Angela Merkel, following Slovakia's rejection of strengthening financial relief funds in the euro area. On the foreign exchange market, the euro was virtually unchanged munching 0.05% against the greenback at 1.3658 dollars.

Alcoa opens the ball quarterly results

In the U.S., the season of quarterly results of large companies began Tuesday after the close of Wall Street. As usual, the aluminum giant Alcoa kicked-off for these publications. Including follow on Wednesday, PepsiCo, and Thursday, JPMorgan Chase and Google internet group and finally, Friday, Mattel.Analysts bet on an average increase of 13% earnings per share for the third quarter.

The group Alcoa (-3.25% to 9.97 dollars) reported, after market, a net quarterly profit of $ 172 million, an increase of 182% over a year and a decrease of 47% the previous quarter. Revenues jumped 21% year on year to 6.4 billion. In 2011, Alcoa still expects growth of 12%.

For his part Infosys Technologies (6.57% to 56.12 dollars) also announced after the market have achieved in the second quarter of fiscal 2011 to 2012 (ended September 30) with net income of $ 411 million, against 374 million last year while sales rose to 1.75 billion dollars against 1.5 billion a year earlier.For the full fiscal year 2011/12, the group expects a turnover of 7.08 to 7.2 billion dollars.

The Canadian Research In Motion (-2.34% to 23.84 dollars) a Wall Street side, affected by major failures affecting the Blackberry, is facing a revolt by disgruntled shareholders calling for the sale or replacement of its leaders then that its action has already lost 60% since the beginning of the year.

For its part the world leader in lithography for semiconductor, ASML (5.14% to 38.03 dollars), also listed on Wall Street believes that there will be a slowdown in growth in most segments semiconductors, with the exception of technologies related to tablets and smartphones.

This counter communicator, which allows to know its power consumption in real time and thus better control, will be installed progressively from late 2013-early 2014. A five-year period is planned to equip 35 million consumers, knowing that the European directive assigns a target that 80% of users are in possession of this tool in 2020. "This counter is a future asset for the modernization of the electricity distribution network.It will particularly help to end the current system of estimated bills, sources of discussions, said one industry player. In addition, the meter installation will require the creation of over 10,000 jobs. "

Throughout the past few weeks, a severe battle was between ERDF – a subsidiary of EDF in charge of distribution – and local authorities about the property counters Linky. Upon arrival, the government has not decided to change the current law, which states that the networks, which include counters, belong to communities. In support of its reflection, the government relied on the report of "Committee Linky" on the generalization of communicating electricity meters in France.The report, led by parliamentarians Ladislas Poniatowski and Jean-Claude Lenoir, was sent Sept. 21 to Eric Besson.

According to the overall pattern was retained, ERDF will be responsible for ordering and installation of new meters. These will be installed free of charge, the government decided that not considering either a tax increase for network use, one of the elements of the bill paid by customers.

A cost of 4.3 billion euros

In charge ERDF therefore, which plans to spend 4.3 billion euros to the generalization of the program Linky, to compensate the investment by the productivity gains achieved through this tool. For example, the new meter will perform many interventions that will distance the presence of agents of ERDF to the customer will no longer be necessary."But whatever the gains, a system of passing on costs is possible sooner or later," suggests an industry expert.

As for local, they indicated that the expected effectiveness of the new meter is fully proven. In other words it is shown that consumers can realize significant energy savings. Widespread Linky is a crucial element of energy efficiency policy of the government at a time when energy prices rise.

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