Occupation: the red lantern of Europe

This is the black point of the Spanish economy.

Greece but also Italy, however, always crystallize concerns have increased as rumors of leaving the Prime Minister Silvio Berlusconi, immediately denied by the latter. Nevertheless, if the vote to be held today at the Chamber of Deputies on the budget is negative, the departure of Cavaliere seem inevitable. Meanwhile the distrust of investors facing the country's public debt is climbing.The performance of the obligation of Italian 10-year, reaching 6.73% in the morning (before falling to 6.66%), an unsustainable level over time under the weight of the debt.

At the same time, the finance ministers of the euro area gathered in Brussels last night stepped up their pressure on Athens and Rome to the two countries meet their commitments to reduce deficits. In the process, Wall Street ended on an optimistic note. This morning, Asian markets have proven unreliable and shared.

In this context, oil prices are rising. The barrel of "light sweet crude" for December delivery gained 0.36% to 96.29 dollars.

Transaero is the company to launch the A380 in Russia, CIS and Eastern Europe. "I am sure that the launch of this device very high capacity will stimulate the development of aviation in Russia, particularly in terms of airport infrastructure (…)», said Olga Pleshakov, CEO of Transaero Airlines. It opted for a passenger can carry 700 passengers, which will be converted into three classes.

For John Leahy, the Airbus super-salesman, "the A380 has a high potential in the Russian market.""We believe that passenger traffic in the region will grow 5.6% annually over the next twenty years." In its latest study of twenty years, Boeing estimates in turn that the needs of Russian companies will revolve around 1000 units including 700 medium-haul aircraft like A 320 and B 737, worth $ 110 billion by 2030.

16 million passengers and 400,000 flight hours

With the command Russian Airbus reached a new milestone payday loans. He recorded 28 orders and purchase intentions this year, marked by the signing of a first contract in Japan with Skymark A380. Overall, the A380 has been ordered to 236 copies per 18 airlines. 59 aircraft have been delivered since October 2007 with the first delivery to Singapore Airlines."That leaves 177 to be delivered which represents four years of work," says a spokesman for Airbus.

From the production side, Airbus is on track to reach its cruising speed is 3 units per month in the second half of 2012. Since late September, the industrial rate is 2.3 per month super-jumbos. This year, Airbus has already delivered 18 aircraft, has set a target of 25 A380s by the end of December.

The manufacturer estimated that the pace in the coming years is to sign at least 25 new orders a year, a level equivalent to its annual production. Airbus will celebrate the end of November the arrival of the 100th convoy giant Lagardère assembly hall. The kit aircraft (six pieces) is sent by road from the port of Bordeaux to Toulouse.

In service for four years, the A380 continues to conquer the global skies. He joins 26 cities in the world.

Investors have not long welcomed the determination shown by European finance ministers at the G20 Finance last weekend. At this meeting, the central bankers of the EU porutant promised to bring an answer this week "comprehensive and lasting peace" to the debt crisis at the G20. "Advanced countries will adopt, taking into account their respective national circumstances, policies to strengthen the confidence and support growth and implement measures clear, credible and targeted to rebalance public finances" stressed ministers in statement.

Above all, they promise to make a decision at the European Summit of October 23, described as "decisive" on Saturday by Minister of Economy Baroin. For its part, the ECB President Jean-Claude Trichet said the euro was "not threatened", but called on all Europeans to be "extremely vigilant" with regard to public finances.

Attempted to reassure the ability of the International Monetary Fund (IMF) to support countries in difficulty, Christine Lagarde, the Executive Director, has determined that the resources of the institution for the time were "appropriate" and "fit" to Micro Europe 1.And, while many European countries are considering to use the Fund to prevent contagion of the crisis in the euro area in case of bankruptcy of Athens.

Measures of expected savings on the U.S. side

On the other side of the Atlantic, U.S. President Barack Obama must include measures of fiscal consolidation through a savings plan. Last Friday, the country's budget deficit reached 8.7% of GDP in 2010-2011, 0.3 points less than in the previous year, according to the Treasury. In absolute terms however, the fiscal gap widened slightly compared to fiscal 2010, 0.4%, from the threshold of 1.299 trillion dollars, making it the second biggest deficit of the History of the United States.Concerns also weigh on U.S. growth, after the deterioration of consumer sentiment surprise U.S. beginning in October, falling incomes leading consumer expectations to their lowest level for over 31 years.

Following the announcement of the failure of 20% of the 360,000 small businesses in Zhejiang Province since the beginning of the year, Beijing also pledged to "rebalance" its growth engines through a battery of measures this week.

The euro retreated slightly

On the foreign exchange market, the euro fell slightly against the U.S. dollar on Monday morning at 1.284 dollars (-0.21%). While oil was up in Asia after a barrel of "light sweet crude" for November delivery clinching 35 cents to 87.15 dollars in early electronic trading.Barrel of Brent North Sea crude for December delivery gained 18 cents to 112.41 him dollars.

In terms of indicators, the United States, industrial activity in the region of New York (October) and the country's industrial production are expected in early afternoon.

In Europe, a speech in London Wolfgang Schäuble, German Minister of Finance, on financial regulation and fiscal consolidation is expected.

In Japan, industrial production for the month of August will be published in the day.

Banks remain top values ​​to follow this Monday

• Banking

Standard & Poor's (S & P) announced Friday it lowered the long-term rating of BNP Paribas (-1.47% to 31.77 euros) from "AA" to "AA-" and the Bichri (Banking Industry Country Risk Assessment) of France in Group 1 Group 2.In this context, investors will keep an eye on Societe Generale (-1.46% to 20.53 euros) and Credit Agricole (-1.52% to 5.11 euros).

• Dexia

The National Assembly will consider the draft supplementary budget by establishing a government guarantee.

• Air France-KLM (2.79% to 5.68 euros)

A special board meets Monday for the start RECORDED Pierre-Henri Gourgeon, as revealed by Le Figaro yesterday. In addition, three cabin crew unions (PNC) filed a strike notice for the weekend of All Saints to protest job cuts.

• Renault (+0.02% at 27.48 euros)

The new organization called the head of the manufacturer after the false spy case will come into force on 2 November as planned and strengthen the power of the CEO Carlos Ghosn with the aim to avoid the fiasco of the early recurrence in 2011.

• Axa (0.82% to 11.02 euros)

The French insurer Axa wants to eliminate by 2015 about 1,500 jobs in Germany, or one sixth of its workforce in the country, the Financial Times Deutschland on Monday.

• Eurosic (-0.68% to 32.27 euros)

The group has completed the acquisition of 22 office buildings with GE Capital Real Estate valued rights included 340 million euros.

• Edenred (-0.26% to 19.10 euros), Guyenne Gascogne (0.62% to 81 euros), Mercialys (-0.58% to 27.37 euros) will release its third quarter results after market close.

This rise of the single currency is a sign, according to one analyst, "the market seems a little more optimistic." In fact, for several weeks and an acute crisis on debt, the euro was more the subject of a "massive unwinding of positions."

Investors continue to regain confidence in the idea of ​​a solution to the debt crisis.Policymakers ensure that the enlargement of the European financial stability will be ratified soon, Slovakia should indeed turn around in a new vote tomorrow. What can the countries of the euro area together to help troubled banks to recapitalize, to avoid the bankruptcy of an institution that could create a systemic shock.

ALSO READ:

"The Paris Bourse is back on the rise

"Europe prepares its banks to a shock on Greek debt

In parallel, Evangelos Venizelos, the Greek finance minister, yesterday met with Jean-Claude Trichet, head of the ECB, to negotiate a restructuring of the Greek debt at a discount of between 40% and 50%.The minister said that "there is no alternative to restructuring." He said at the annual meeting of the Institute of International Finance (IIF), an association of 450 banks in the world: "We are ready to take the necessary whatever the political cost." And said it was confident about the outcome of the vote in parliament of the new austerity plan, condition of the granting of new loans of the troika, because according to him "which member will take responsibility to lead Greece to a default? ".

Germany mobilized

A view shared by the French Minister for European Affairs, Jean Leonetti, who said Sunday that "Greece will avoid bankruptcy because it is the interest of the Greek state, the Greek people and is the interest of us all.If Greece were to fail tomorrow, it would cost more than if it did not go bankrupt, "he said on Radio France International business card.

The Heads of State and Government in July found an agreement to rescue Greece and broaden the scope of intervention of the relief fund of the zone (EFSF), including providing it with an instrument enabling it to market purchases of debt of states in difficulty. This agreement is being ratified by 17 national parliaments in the area. The vote of Germany, the country is the biggest contributor to EU aid plans appear on track.In a television interview Sunday night, German Chancellor Angela Merkel has indeed shown the outcome of the confidence vote scheduled Thursday in the Bundestag.

In addition, the German Chancellor said that allowing Greece to fail would destroy investor confidence in the euro area and could cause infection comparable to that following the collapse of Lehman Brothers in 2008.

The rising social discontent in Greece

But Greece will probably have to wait beyond the holding of a Eurogroup meeting on Oct. 3 before a decision on the release of the next tranche of aid."Given the delay by the Troika mission (IMF, ECB and European Commission), I do not think that the next meeting of the Eurogroup, October 3, a decision on the sixth installment," said Sunday Washington Deputy German Finance Minister, Jörg Asmussen

In addition, the rising social discontent in Greece. Further strikes are planned next week before a general strike on October 19.

ALSO READ:

"The G20 mobilized to reassure the financial world

"Europeans are ready to strengthen the Stability Fund

Today, European banking shares held by ten U.S. funds represent 676 billion dollars, or 42.1% of their overall portfolio. These investments still weighed 47.2% in late July."Reducing exposure to leading European banks is largely offset by increased investment in financial institutions in Australia, Canada, Japan and Scandinavia," said Robert Grossman, an official of Fitch Ratings.

Some European countries are more affected than others by the flight of U.S. investment.

Direct benefits, which include expenses related to the organization made in the Principality, were valued at 14.9 million euros.According to the Minister of State Michel Roger, "76% benefited local economic entities", ie the sectors of hotels, restaurants, service providers and equipment supply.

The indirect benefits generated by visitors and participants in various events during the wedding, have immediately helped raise 4.6 million euros (2.5 million are still went to the restaurant, 1, 5 to 0.6 million hotel and derivatives such as objects and stamps). In the long term, they need to generate about 9 million.

"Capitalize" on these benefits

For Monaco and its 35,000 inhabitants, the bet seems successful. This marriage has given a boost to a tourism industry that marked the coup in 2009.The Tourism Monaco confirmed a very good month of July: "The Principality has 75,000 monthly overnights. In July, 80% of them were occupied, "said a statement citing" great numbers that exceed the reference years were 2007 or 2008. "The Oceanographic Museum and its exhibition "Story of the Royal Wedding" shows the tourist craze sparked by the marriage of July as recorded 100,000 visitors in less than a month.

To maximize the benefits for the long term, officials are working on Monegasque a special program named "Monaco, the world capital of romance" with the goal of "capitalizing on the benefits of international royal wedding and set up a course marriage," said Bouquier Michel, the Commissioner General of Tourism.

ALSO READ:

"Monaco: behind the scenes of royal wedding

"Monaco and the United Kingdom: the game of marriage

"The strange honeymoon Albert of Monaco and Charlene

"SELECT FILE MY FIGARO – 2011, the year of weddings

At a time when the euro area is attacked, France and Germany are trying to show a united front and show their determination to end the crisis. The mini-summit will be devoted to devising solutions to improve the governance of the euro area, which concern failures in financial markets. Although not conclusive a priori – "do not expect anything spectacular," said a spokesman yesterday the German government – the meeting should enable the two leaders to lay the groundwork for the future.

Sensitivity of the issue Eurobonds will however not address, contrary to the hopes markets.Berlin's opposition to the creation of common obligations to countries in the euro area has long been known. The Merkel government has good reason to be against: issued in the name of all countries, eurobonds have an interest rate equal to the average rate in effect in all countries. It would therefore be higher than that which currently takes Berlin. Until now, France is merely to show little enthusiasm for these Eurobonds.

Yesterday, Paris is out of the woods to show his unity with his partner. "The Euro-bonds are not an adequate response today. Common issue bonds requires a degree of economic integration and budgetary countries that we have not met, "says one as president fast cash. Paris joins Berlin on another "nyet" to increase the capacity of the European Financial Stability Fund (EFSF), now with 440 billion euros."The level of funding is appropriate," they say at the Elysee.

Hours before his meeting with Angela Merkel, Nicolas Sarkozy has discussed with Francois Fillon and French public finances. Lead to disappointing growth, the government has no choice: even a few months before the elections, it must take further austerity measures. France, which is followed closely by the markets, absolutely must bring its deficit to 4.6% of GDP in 2012.

Niche in their sights

To achieve this, taking into account a sluggish economy, the figure of 10 billion euros of savings is often cited. But do not confirm Bercy. In the entourage of Valérie Pécresse, the budget minister, it says only that "these savings are the result of efforts on spending cuts and tax loopholes."Last week, he had urged his counterparts from the euro area to take all necessary measures, including the creation of Euro-bonds, to avoid disintegration of the single currency "that would be an economic catastrophe, including for the United Kingdom ".

ALSO READ:

"SPECIAL – Depression, fear of debt

"Merkel faces a sharp political debate in Germany

Across Europe, national health authorities are looking into whether contaminated cucumbers are on their soil. Result of this tracking, Friday morning, Denmark indicated that the lots were problematic in two wholesalers. These have been withdrawn from sale. The Danish health agency recommended that consumers not eat raw cucumbers from Spain or tomatoes and salad from northern Germany.

"In the midst of proceedings"

In France, the hunt is underway."To our knowledge, there is no contaminated lots in France," said a spokesman Interfel, the professional association for fruit and vegetables. Thanks to the labeling requirement, it is possible to reconstruct the path of the affected vegetables from producer to distributor, even when a lot was broken by a wholesaler. "We are proceeding rapidly," nuance does one side of the DGCCRF (Directorate General for Competition, Consumption and Fraud Control).

The tracing stops when the product was sold, investigators can not trace back to the consumer's fridge. Germany is a major consumer of cucurbits in Spain. She is also the first client, with 80,569 tonnes imported in the first three months of the year, according to figures from the inter Spanish fruit and vegetables.France has for its part consumed 13,294 tons of cucumbers in Spain over the same period.

Health authorities are uploaded to the producers of cucumbers, organic gardening regions of Almeria and Malaga. Investigations have been launched in Germany to determine if other cucurbits infected come from other regions. In Spain, "the Andalusian authorities are currently investigating to find out where the contamination and when it occurred," said a spokesman for the Spanish Food Safety Agency (EASA).

"We do not know where is the contamination occurred and the European Commission highlighted the fact that it occurred outside the country of origin" of cucumbers, said Friday the Spanish Minister of Agriculture Rosa Aguilar.So far there is no evidence and there is no evidence that this could happen in the country of origin. "

Washing vegetables

The Spaniards are wondering, according to a European source, if the cucumbers were not contaminated by falling on the ground at Hamburg. "Usually, vegetables are not high-risk products, but may be soiled or in contact with the ground during transport," says one to the DGCCRF. Wash and peel vegetables would reduce by almost 90% less chance of contamination.