Current News Headlines

Queen of fiscal orthodoxy, Germany wants the EU to acquire a European Monetary Fund, modeled on the International Monetary Fund (IMF). Such a body in the euro area would cope with crisis situations, such as it is currently because of Greece.

"For the stability of the euro area, we need an institution that has the experience of the IMF and similar powers to intervene," said Sunday Wolfgang Schauble, Minister of Economy in the newspaper Welt am Sonntag.

The European Commission said in the wake it supported such a proposal. "We are working closely on this issue with Germany, France and other member states of the EU," said European Commissioner for Economic Affairs Olli Rehn in the Financial Times Deutschland published Monday.

A "FME" (European Monetary Fund) would most Europeans treat their own problems. The Germans, like other member countries of the euro area, in fact, reject the idea of an IMF intervention in favor of Greece. "The euro area tends to be able to solve its problems alone. Accept financial aid from the IMF would, in my opinion an admission that the countries of the euro can not solve all their problems alone, "said Wolfgang Schauble argued in the German Sunday newspaper.

Above all, Berlin, traditionally hostile to an integrated European fiscal policy, said a WEF would finally impose its partners more lax fiscal discipline any Germanic."According to the German conception of the thing, the plan [to reform European economic policy, Ed] could include significant penalties for countries in the eurozone would fail to discipline their public finances," writes the Financial Times, which is based on statements by senior European officials.

"Effective sanctions'

Alexander Dobrindt, general secretary of the CSU, the Bavarian wing of the German Conservative Party, says the same thing. "We must now consider how we are going to better control the future state of the eurozone as Greece and to make sanctions effective," he said in the Bild am Sonntag, dated Sunday.

Other proposals for European economic government move. Belgium proposes the creation of a European agency debt.This institution could issue and manage debt of member countries, giving rise ultimately "a single European market for government debt," wrote Prime Minister Yves Leterme in an article published in Le Monde and the Financial Times Deutschland. Luxembourg offers his hand to the establishment of a European rating agency.

Athens finally got the good report from Brussels. The European Commission ruled Wednesday that the savings plan acceptable Greek. "The Commission shares the ambitious deficit reduction that the Greek government has set, and the fiscal and structural reforms announced in the stability program," she said in a statement.

Greek Prime Minister George Papandreou, had presented new budget measures, including freezing the salaries of all officials at the last moment on Tuesday evening. The Commission appreciated the welcoming approach.

The approval of Brussels is not a blank check Payday Loan for Bad Credit .The Commission "calls on Greece to explain the tax measures announced and the timetable for their implementation in the coming weeks" and ", more detailed measures to be implemented in 2011 and 2012.

Athens will be placed under surveillance and will be an infringement procedure for lack of reliability of its statistics.

After the announcement of the Commission, the Greek bond yields back down to 6.516% against 6.742% on Wednesday morning around 8:30.

ALSO READ:

SPECIAL FOCUS – Greece, a challenge for Europe

"Greece can not be excluded from the euro area

The prefect of Vienna, in his words, "stuck a little face." Reason for dissatisfaction: Sweden's Autoliv, owner of the manufacturer Autoliv flying car-Isodelta, announced last week in the press came from 22 of his Tunisian employees, to compensate for a lack of manpower on the site Chira-en-Montreuil. Flat: This reorganization comes barely a year after that 80 employees of the company have been acknowledged. "Autoliv has chosen to relocate to Tunisia. Very good. But they take and they do not come here of Tunisian Workers' prevents the secretary general of the prefecture of Vienne, Jean-Philippe Setbon.

Production of flying is in fact shared between the site of Chiré en Montreuil (680 employees), and El Nadhour Tunisia (700 employees).The leather trim has been relocated there fifteen years since the two hours required for each transaction made it difficult profitable in France. But shortly before Christmas, the Tunisian factory hand in flames. It seems logical now to work exceptionally Chiré en Montreuil some of these employees unoccupied. It is effective without the vigilance of the prefect. "When he read it in the press, he asked me to call the consulate of France in Tunisia to halt issuance of visas," says Jean-Philippe Setbon. 80 interim have been recruited to ensure the controls.

After three sessions "for nothing", investors seem to be a little more optimistic on that last week's meeting. The publication, at 14.30, figures on U.S. employment for the month of December has revealed an unemployment rate stable at 10%. The U.S. has destroyed 85,000 jobs over the last month of the year, far more than expected by economists.

Recall that the statistics revealed in December for the month of November had been particularly good. Yesterday evening, the U.S. stock exchanges closed at equilibrium. While Asia has ended in hesitation, but with a jump in Tokyo.

In an interview with Le Figaro, Patrick Devedjian, minister responsible for implementing the recovery plan, draws up an initial assessment.More generally, Aurel BCG 'fears about the quality of the debts of some Member States and economic indicators still very erratic combine to maintain doubts about the prospects for the euro zone, including short term. "

At 11 hours, Eurostat reported unemployment in the euro area rose, reaching the symbolic threshold of 10% and confirmed that the rate of GDP growth stood at 0.4% in third quarter, compared to the second.

In France, the trade deficit of France was again widened in November. It reached 5.304 billion euros, according to Customs. Later, investors will also some attention to the index of construction costs in the third quarter in France. In Spain, industrial production fell 5.7% in November.

On Thursday the Bank of England decided to keep rates unchanged.The day before, the minutes of the Fed suggested a prolonged status quo on U.S. monetary policy.

On the currency front, the euro has stabilized against the dollar, traders taking a cautious stance before the publication of figures for U.S. employment.

Veolia Environnement still leads

In this market optimism, Veolia Environment (+3.91% at 25.10 euros), still leading the ranking of ACC 40, supported by integration by Goldman Sachs in its list of preferred values. Dexia gained 1.55% to 4.98 euros, while the bank has good looks, including Societe Generale, which won 1.50%, to 51.53 euros, which warned Friday it wants to consolidate all its assets Toxic scattered around the world.

Conversely, Renault lost 0.78%.The group should choose to assemble its new model on the site of Bursa, according to the Tribune on Friday.

Out of CAC 40 companies and Gameloft Beneteau derive Sector Index leisure facilities to increase (+2%). Beneteau (+8.80% at 12.49 euros) has announced a turnover of 87.7 million for its first quarter 2009-2010.

About the 400M (which actually date a third flight), "at a meeting of Secretaries of State will be held in London January 14," said a spokesman for the German Ministry of Defense AFP.The boss of Airbus (EADS subsidiary, 0.99% to 14.35 euros), the German Thomas Enders, has told a Christmas dinner of the director in December that it would " believed in a continuation of the program, and have begun to prepare its end, said Tuesday the Financial Times Deutschland.

The state, which holds more than 90% stake in Areva (-1.4% to 370.55 euros), discussed today with three partners in particular: the Japanese industrial Mitsubishi longstanding partner of the group nuclear, Qatar's sovereign wealth fund and its counterpart in Kuwait.

Bolloré Telecom, cantor of WiMax and a subsidiary of Bolloré Group (+0.17% to 118.20 euros) just bought the operator Altitude WiMax licenses of Alsace and Burgundy regions.

The second French operator of mobile telephony, SFR (subsidiary of Vivendi), claimed on Thursday offers the most complete multifunction phones, thanks to exclusive deals with Palm and Google. Vivendi (-1.18% to 20.86 euros), precisely, the trial in New York continues its course. This public trial in class action accuses the group of giving financial communications strompeuses between 2000 and 2002.

Rentabiliweb announced this morning launching a capital increase of 10 million euros. Its shares are now traded on Euronext, and not on Alternext.

The two bad U.S. indicators were not sufficient to curb the enthusiasm of investors on the Paris Bourse. The CAC 40 closed up about 0.32% to 3910.75 points, above the threshold of the fateful 3900 points. When the transaction volume, it remains very low at 1.9 billion euros.

After a setback, following the publication of figures for new home sales in the United States and the index of consumer confidence, the market has finally resumed.

The detailed values follow …

In full financial restructuring, CMA CGM seeks to reassure. The world number three container shipping has taken show figures to support that end the crisis was indeed visible.

Thus between June and October the prices of container traffic between Asia and northern Europe has increased from 416 to 1062 dollars. Similarly, the fall in volumes shipped, down 20% in the first half, was halted since early summer.

In this context the accounts should return to the balance from December. "We remain cautious, but positive signs are every day more," says Nicolas Sartini, head of Asia-Europe line CMA CGM.

ALSO READ:

"Jacques Saade:" 2009 will mark the resumption of trade "

Louis-Dreyfus looks CMA-CGM (with Wansquare)