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Released in early 2010, a year and a half of recession caused by the bursting of the housing bubble, Spain could plunge into the red. Supported by the only engine of exports and tourism, the economy will suffer from the international slowdown. And domestic demand – consumption and investment – remains stalled, weighed down by record unemployment. Economists forecast a decline in activity over the next two quarters. For the full 2012, Natixis expects an increase of GDP, limited to 0.2%, even more severe, Bank of America Merrill Lynch expects a fall of 0.7%. Two days before the election, the government had to accept lower growth for 2011 at 0.8% against 1.3%, less than half that expected by Brussels in the euro area.

Occupation: the red lantern of Europe

This is the black point of the Spanish economy fast cash without a hassle.With more than 22% Madrid shows the unemployment rate the highest in the euro area. One in five is unemployed and no improvement is expected in the short to medium term. Affected sectors, construction and real estate have lost more than 1.4 million jobs since 2007, while 700,000 jobs were destroyed in the industry. Are the front line jobs with low qualifications, young people without experience and foreign populations. The long-term unemployment has risen sharply, increasing the risk of dangerously exclusion. This file will be the priority of the next majority. Structural reform, initiated by the Zapatero government, to more flexible labor market, had no positive effect on job creation.

Damaged property market beating down the banks

In 2003, real estate euphoria, he built over 700,000 homes per year.

Some cheap term life insurance policies may look cheap, but what matters the most is that you must get it.Getting a cheap term policy is not an easy task.

Optimism is more than up to the Paris Stock Exchange on Monday. After increasing by 0.61% at the opening in the wake of the Asian markets, up sharply, the CAC 40 is pressed into the red after the release of poor figures on economic activity in the euro area, dropping 0, 31% to 3162.59 points shortly before 14 hours.

Private activity has accelerated its decline in October in the euro area, the PMI reaching 47.2 against 49.1 in September when he was dropped below 50 points for the first time in two years, indicating a decline in activity. France is no exception to this trend, since the firm Markit PMI index fell to lowest in 29 months, to 46.8 points against 50.2 in September.Note that in France, business failures showed a sharp rise of 19.4% in May, a month after three consecutive monthly declines, said Monday the National Institute of Statistics.

The prospect of a solution to the debt crisis in the euro zone after the EU summit this weekend has not been sufficient to support the CAC 40. Meeting in Brussels, Nicolas Sarkozy and Angela Merkel Sunday near their positions on the key issue of European bailout fund and its clout in the marketplace. However, on request of Germany, the final decision will be taken until the night of Wednesday to Thursday, after another conclave of crisis. Considering the situation "very complex", Nicolas Sarkozy has sought reassurance "negotiations progress on the issue of banks on the issue of Greece, things are progressing," he said.Selun President of the Republic, "a broad agreement is emerging on strengthening the EFSF."

For its part, Angela Merkel added that the proposed model does not imply the ECB, as advocated by France. Clearly, the European bailout fund (EFSF) leverage its resources, but no new States' contribution of the euro, or use means unlimited in principle of the ECB. With leverage, the EFSF-today with $ 440 billion, and could see his strike force raised in 1000 or € 1500 billion.

In addition, the euro area is considering creating a special fund that could be echoed by emerging countries to stem the debt crisis. China has expressed particular the possibility of financial support.Still, this idea is controversial, some states are reluctant to explicitly request the help of Beijing, according to diplomatic sources cited by AFP.

Tensions within the 27 Member States

Until particularly critical of the slow pace until the European Union to manage the crisis, the International Monetary Fund, through its Executive Director Christine Lagarde, immediately praised the "very good progress" Sunday . "It was really an effective meeting, and I hope it is really in the right direction for Wednesday," she insisted.

However, the rising discontent among the ten states of the European Union not members of the euro area, Britain in the lead, complaining of the increasing willingness of states using the common currency to make decisions without consulting them."The crisis in the euro area affects all our economies, including that of Great Britain", insisted the British Prime Minister David Cameron on Sunday. Of tit for tat, Nicolas Sarkozy replied: "We are tired of hearing you criticize us and tell us what we have to do," the French president would have dropped according to the Daily Telegraph and The Guardian, quoting diplomatic sources .

Another measure expected: the Atlantic, Barack Obama will unveil this week a series of initiatives to support the economy and that will not require congressional approval, said an official of the White House.The U.S. president will announce such a measure to facilitate the refinancing of mortgages for Americans own their homes bad credit payday loans.

Activity contracted in France in October

On the macroeconomic front, Markit publishes this morning the Flash PMI in October measuring the level of activity in the private sector in several European countries. In France, the composite index fell to 46.8 from 50.2 in September, falling below 50 which separates growth and contraction. In other words, the activity in the private sector in France shrank in October for the first time since mid-2009, through reducing the risk of recession.In Germany, private sector activity in October also falls in the area of ​​decline, with a composite index stood at 48.9, while analysts expected a growth in activity across the Rhine over the month.

Orders to industry in the euro area will be published early in the afternoon.

For its part, the ECB will publish its report weekly purchases sovereign debt at 15.30.

Oil prices were up in early trade Monday morning in electronic trading in the morning, a barrel of "light sweet crude" for December delivery gained 8 cents to 87.48 dollars on the New York Mercantile Exchange. Hand currency, the euro is stable against the dollar on Monday, the single currency displayed in the balance dollars 1.389 (-0.02%).

Bank stocks on Monday surrounded by very

The list of the progressions in the CAC 40 is dominated by the Monday morning increases of bank stocks, buoyed by hopes of an early solution to the debt crisis in Europe. Thus, BNP Paribas gained 0.25% to 31.86 euros. Allows itself Societe Generale 2.87% to 19.50 euros and Credit Agricole advance of 1.26% to 4.90 euros.

Outside the CAC 40, Faurecia (4.38% to 18.36 euros) stands up.The French automotive supplier controlled by PSA Peugeot Citroen, saw a 16% increase in sales in the third quarter to 3.8 billion euros, and confirmed its annual forecast.

The values ​​next to the lowest market-oriented Paris on Monday morning located Peugeot (-1.89% to 16.62 euros), Yellow Pages (-1.57% to 3.01 euros) and Mercyalis (-1 , 83% to 26.28 euros).

The land in the spotlight

• Gecina (0, 82% to 68.84 euros)

The land identified for the first nine months of a recurring profit of 239.8 million euros, down 8.5%, according to a statement. At six months, the decline of this indicator management was limited to 7.8%. The group does not publish its net profit for the period. He cashed for 476.5 million euros in gross rents on these nine nine months, up 2.9% over the same period in 2010.Gecina confirms its forecast of a recurring profit down 7% for the entire year.

• Icade (-1.08% to 64.30 euros)

The group released Monday property sales up 11% in the first nine months of 2011, thanks in particular to the full-year effect of the acquisition of Compagnie la Lucette. Its sales reached 1,065.8 million at September 30.

• Renault (0.40% to 27.63 euros)

The automaker expects to see its sales volumes grow in the range of 2 to 8% this year, said Carlos Tavares, the deputy CEO of the automaker, in an interview published by Automotive News.

• Sanofi (1.06% to 51.51 euros)

The pharmaceutical company announced that Lemtrada, a drug to fight against multiple sclerosis, was more effective in preventing relapse than medication legacy developed by Germany's Merck.

• April Group (3.15% to 11.95 euros) and Seb (2.36% to 59.95 euros) will also publish their turnover in the third quarter. While STMicroelectronics (0.34% to 5.33 euros) will report its third quarter results.

On track, continuous effort. This is essentially the OECD verdict on Ireland, engaged for three years in a drastic recovery program of its public finances. After a decade of strong growth on an annual rate of 7%, which has risen to fourth in the OECD in terms of GDP per capita, the former Celtic Tiger has suffered a banking crisis and an unprecedented three years of recession. The deficit exploded in 2010 to over 32% of GDP if we include the expensive bank recapitalization and debt exceeded 100% of the national wealth.Distrust of markets has forced the authorities to use the end of 2010 with the IMF, the EU and the ECB.

In his study, presented Friday, experts from the Muette emphasize the competitive advantages of Ireland on Portugal and Greece, the other two countries under international supervision, "export sector a more developed and more high-tech"-the Exports account for 100% of GDP against 31% in Portugal and 21% in Greece, "a workforce more skilled, more favorable conditions for businesses, a more efficient tax system based in particular on corporate taxes low and stable and well-regulated markets and more flexible, both for products that work."

The conservation plan will represent 2.2% in 2012

Despite the recession, Ireland continued to attract significant foreign direct investment and the country, supported by the engine of exports and improving cost competitiveness, has returned this year with growth, while Portugal and Greece will experience another year of recession pay day loan lenders.

On the fiscal side, Dublin's goal is to bring the deficit below 3% of GDP in 2015. Before the intervention of the Troika, the authorities had imposed a cure equivalent to 9% of GDP. The economic plan of 2012 is still 2.2%.

If these efforts "are starting to bear fruit" requires further consolidation, the report of the organization of the Muette, in the perspective of a "global growth lower than expected."The OECD recommends including "broaden the tax base" and "focus more on consolidating spending cuts" -60% recovery, "by improving the efficiency of the public sector, reform of social protection and lower infrastructure projects. " Another priority should be the fight against unemployment from 4.6% in 2007 to 14.2% in the second quarter of 2011.

Among other tracks, it is necessary to improve employment services, training programs adapted to market needs, encourage job search, extend some cuts in employers' contributions … Finally, Dublin to pursue the restructuring of the banking sector and further improve competitiveness to promote exports.

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"SPECIAL – Crisis: the fear of debt

The Paris Bourse tries to continue the registered slight rebound on Friday. The CAC 40, which opened sharply lower did an about face in the morning. Around 11:00 he advances from 1.86% to 2863.9 points, pulled up by the banking sector. On Monday, Asian stock markets were grinding still black, still concerned about the problems of economic downturn worldwide. "The main problem is that neither the U.S. nor Europe has many options to address their concerns," said Masayoshi Yano, a broker at Meiwa Securities, quoted by Dow Jones Newswires.Investors include much more than expected joint statement of finance ministers and central bankers from the G20 at the end of the meeting in Washington Thursday.

Other major European markets are evolving in a piecemeal, Frankfurt ahead of 1.25% but London always yields 0.84%.

Moreover, the concern surrounding the problems of sovereign debt in Europe remains strong, especially as we enter a crucial week for Greece. The International Monetary Fund (IMF) said that a delegation will travel to Athens this week to determine whether or not the country can benefit from the sixth round of eight billion euros, it vital to avoid bankruptcy. Moreover, Germany will vote Thursday the agreement for the expansion of the scope of the relief fund of the zone (EFSF). Sunday, German Chancellor Angela Merkel expressed confidence the outcome of the vote.Evangelos Venizelos, Greek Minister of Finance, for his part spoke with Jean-Claude Trichet, head of the ECB, a debt restructuring Greek.

In an effort to reassure global markets, finance ministers of the euro area are committed in a common text, to "do everything necessary to solve the crisis of debt and financial stability of the area in whole and its Member States. "The idea of ​​taking office faster than expected EFSF has also been raised by Germany this weekend.

EU Commissioner Olli Rehn himself has said that Europeans reflected to provide the EFSF additional instruments, beyond those agreed in July to give "more power" in an interview with Die Welt newspaper.

The Ifo index better than expected

The Ifo index of business climate in Germany has brought a little balm in the heart of investors. Ila recorded in September a decrease less than expected payday loans.However, this is its third consecutive decline, which seems to suggest that the activity of the first euro zone economy is slowing.

Program from the rest of the week are particularly, the index of investor confidence and U.S. consumers (Tuesday), the final reading of French GDP in the second quarter (Wednesday) and U.S. (Thursday) and retail sales in Germany (Friday).

As for currencies, the euro still appears under the $ 1.35 this morning at 1.3407 dollar. Oil prices, however, went up the slope in morning trading, amid hopes of an agreement to increase the reserve fund for the eurozone.A barrel of "light sweet crude" for delivery in November gained 18 cents to 81.04 dollars a barrel and Brent North Sea crude for November delivery took 42 cents to 104.39 dollars.

Values ​​to follow

• Banking

The banking sector led the trend. By late morning, returning 7.7% BNP Paribas, Credit Agricole and Societe Generale 7.3% 4.54%.

Rumors are still running on a recapitalization by the state of all French banks. The Journal Sunday this weekend evoked an injection of 10 or 15 billion euros.

In addition, the Deposit, the Postal Bank and Dexia negotiate the creation of a new public to fund local governments, according to Le Figaro.In addition, the Franco-Belgian bank could increase its program to sell its toxic assets, housed in bonds, 20 billion euros, according to Les Echos.

• LVMH (-2.23% to 103.10 euros)

The group announced Friday now hold almost all the shares of the Italian jeweler Bulgari, the luxury giant announced the takeover in March.

• France Telecom (-0.91% to 11.40 euros) Iliad (-0.70% to 84.80 euros), Vivendi (-1.29% to 14.57 euros), Bouygues (-1.89 % 24.43 euros).

The state is on track to win his bet on the financial 4G mobile frequencies after a first series of which reported more than budgeted and, according to experts, suggests an aggressive posture in the second round by operators who have not had the expected number of lots.

Note that the IPO of Groupama, long anticipated, was again postponed and is now expected "more towards 2015," said its director general, Jean Azema, in an interview with Les Echos.

It's already Christmas in the "civet"! The government has made on Friday, a nice gift for tobacconists. Their pay on each pack of cigarettes will increase from 6.5% to 6.9% of the selling price. This increase will begin in January 2012 and will be spread over five years, the duration of the new "future contract" signed between Valérie Pécresse, Minister of Budget and Pascal Montredon, president of the Confederation of tobacconists. This is in addition to various support measures for tobacco shops located near the border and in rural areas, estimated at 320 million euros.

The increase in compensation benefits, it at all tobacco shops alike. Paradoxical, because "the sale of tobacco as aids have allowed your average income increase by 57% between 2002 and 2010," as recalled by Valerie Pécresse to tobacconists, who held their annual conference in Paris Friday."In total, more than 1 billion euros that came with your support and profession, which has also benefited, for many of you, the effects of the reduction in VAT in catering."

"At least 10 cents more per pack"

In early 2003, a sharp rise in prices had collapsed sales and forced the closure of nearly 5,000 retailers. There remains 28,000. But since 2004, the price increase regular, moderate (6% per year since 2009) did not in fact impact on the number of cigarettes sold in tobacconists, to the dismay of supporters of tobacco control and Department of Health. As a result, sales of tobacco outlets rose year after year at the rate of inflation of cigarettes for their benefit as for that of tobacco, and especially of the state, who pocketed 80% of price of a pack, which brings in each year over 10 billion euros Business Card Holders.

While the additional gift to tobacconists would have no direct impact on government accounts. In all likelihood, the increase will be offset in compensation not to lower fees charged by Bercy, which closely monitors its accounts, but rather by a decrease in compensation of the tobacco industry, as was the case in the previous contract for the future.

To the extent that tobacco companies have no intention of making less money, they will offset the decline in their pay on each packet by an increase in their prices. "To erase an annual decline of 0.1% of our earnings should be increased by at least 10 cents the price of a package," says one manufacturer. "It's a vicious cycle that will strengthen the cause of the difficulties of cross-border tobacco shops," adds another.

Tobacco companies can increase their prices at the beginning of each quarter.Their next rate adjustment will occur not necessarily next January, to the extent that prices will rise by 6% already on Monday, October 17 or 10, as decided by the government. The pack of Marlboro will then 5.90 to 6.20 euros.

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Pay gold more expensive than platinum? Before 2008, impossible for investors to believe this hypothesis. At that time, an ounce of platinum, the metal so rare and more precious than gold, skirting peaks close to 2200 dollars, while the gold turned laboriously around the bar in 1100 dollars. That gold can fill such a gap appeared unlikely. Yet three years later, this is real. Since the beginning of September, gold has repeatedly passed the plate at the meeting.

What happened in three years for such a reversal of steam takes place? The answer lies in the United States. In September 2008, Lehman Brothers went bankrupt and causes his fall in the economy and global finance. Or "platinum, like palladium, is a precious metal that is used to build cars.The automotive sector, linked to economic conditions, decreased high during the crisis. The platinum price has consistently dropped sharply during this period, "said Steve Allard XTB.

The evolution of the gold price since February 2010 (top) and platinum in February 2006 (below). Source: XTB France

While Europeans are struggling to develop a common strategy of leaving the euro crisis, several major powers, anxious, just lend a hand to the old continent. The U.S. treasury secretary, Timothy Geithner, will participate Friday and Saturday at a meeting of finance ministers of euro zone countries to be held in Poland. This is the first time a foreign official is invited to a meeting of the Eurogroup.

Officially, "the presence of a representative of the American administration will be part of the transatlantic dialogue on the current macroeconomic and financial issues," said the Polish Presidency in a statement. But in fact, Americans doubt the ability of Europeans to find a solution and Timothy Geithner should urge his counterparts to intensify efforts to resolve the crisis of the euro, says Bloomberg.One analyst told the agency "the Americans were anxious quietly and discreetly present, they become intensely anxious and present."

In the wake of rumors about a possible support from China to Italy, Chinese Premier Wen Jiabao told him at the opening of Summer Davos Forum, held for three days in Tianjin, China that his country "will continue to increase its investments in Europe Internet Payday loans." The prime minister said he was confident "China believes that the European economy can rebound." But Wen Jiabao said, "I hope that EU leaders consider their relationship with courage to China a strategic point of view." China wants to be granted market economy status from the European Union, which considers that the conditions are not yet in place.

China is not the only emerging economy to say ready to support the European Union.In fact, the five major emerging economies, BRIC (Brazil, Russia, India, China, South Africa), will discuss next week the opportunity to help the Union européenne.Ils could include increasing their holdings of bonds denominated in euros.

And Europe itself is mobilized. Greek Prime Minister George Papandreou, French President Nicolas Sarkozy and German Chancellor Angela Merkel should discuss the situation of the country on a conference call scheduled for late afternoon.

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Finally a positive signal in the current economic environment. According to the firm AON-Hewitt, the companies expect an increase of 3% of their budgets for salary increases in 2012, against 2.8% this year. According to the 183 companies surveyed in this study, the general increases to 1.9% (against 1.7% in 2011) and the individual, mainly intended for managers, 2.7% (against 2.3% in 2011 ). These prospects for wage increases are close to pre-crisis levels of 2008, but achieving them. In 2009, budgets were part of an overall increase in growth of 3%, but reached 3.3% in 2008.

If companies somewhat loose purse strings is to best manage a triple constraint, says Ariane de Calbiac, head of compensation consulting at Aon, Hewitt."Their priorities for 2012 are at the same time to maintain the purchasing power of their employees, retain their best people while controlling costs payday advance online." The "talent retention" is indeed an urgent need for HR managers at a time when the rate of commitment of employees show great signs of weakness in a company in three.

The variable has the dimension

The current stock market turmoil, with their potential economic consequences of corporate life, are they likely to question the good intentions wage. Not at this time, meet officials of AON-Hewitt. "The forecasts are reliable at this point. The survey was conducted between late June and 19 August.At that time, companies were already aware of the economic uncertainty, "insists Ariane Calbiac.

Other trends survey wages, AON-Hewitt is the further development of variable compensation, including among the non-executives, and increase the overall value of the "package" of compensation, which includes the Perco or employee ownership.

Faced with bronce generated by the project operators to end unlimited Internet packages fixed, two questions remain suspens.Premièrement, who are these "netgoinfres" very heavy users of Internet operators that want coach? Opinions differ. "These are 5 to 10% of consumers who use 80% of the bandwidth. They are found in all countries. The population is fairly limited, "says Yves Le Mouël, Director General of the Federation of Telecom.

In Focus: the "geek" who downloads movies and massive music, spends time on YouTube and Dailymotion. "They are also SMEs with a standard Internet connection and download all day, they are hotels or student residences," said an executive at one operator.

David Charles, president and founder of MVNO Prixtel, but rather the fault of television over the Internet.Growing, it smoothly, he said, the networks. "If we want to free up bandwidth, it must be stopped. The TV is made to switch to TNT, especially since the state has paid dearly for the setting up in France. "

Edouard Barreiro, association UFC-Que Choisir, goes further. For him, "the netgoinfres, these are all of us." "During the day fixed networks are not busy. But they explode in the evening when everyone comes home from work, watch movies, videos, updates made its Apple … We all do the same thing at the same time, he says.Talking netgloutons is an excuse not to make the investments. "

Amend contracts

Operators deny it, but if they decided to go into action, could they change the current contracts? "Yes, it's Chatel law: an operator can easily change its offer, but the client is then free to go free, as was the case during the episode of the VAT," said Edouard Barreiro. Clearly, either the consumer accepts the new conditions, it is part.

But leave her Internet provider is not as easy as changing mobile operator. First, we must do without the Internet for about two weeks. Second, number portability works well on mobile remains fragile on the set. "Things are going well when you leave France Telecom to another operator.But when we leave SFR example, sometimes you lose his number, "said Edouard Barreiro. Finally, it must also return the box and be reimbursed for the possible bond. Not so simple!

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The dream of motorists has it become reality? The site offers Kidioui.com for several days until September 30 to adjust the PV parking offenders who collect the votes of visitors to its site. The principle is simple: anyone who wants to be reimbursed must register on the mini social network for this purpose, explain the context in which the fine was imposed, and get as many votes as euros to pay.

Each registrant may, in fact, a vote for a candidate for reimbursement. A voting system which limits the scope of the regulations to be sent. "Not to push the crime", only minutes of parking are also affected by this unusual offer, which kidioui.com starts to make itself known to the public.

The site, which usually sells cars and scooters new discount Internet, hopes to boost its sales.Opportunely launched after the passage of 11 euros to 17 euros in the price of parking fine, this communication campaign is already bearing fruit, says Uri Stopek, co-founder of the site. "In five days, we recorded over 20,000 visitors to our dedicated website. And in July, while the beta site was just launched, our sales were maintained, when new car registrations were down overall, "said he.

Budget "unlimited"

To date, the bill for this operation is approximately 2000 euros. But the site states that its budget is "unlimited." "The cost of the campaign will be proportional to its impact on public opinion. Plus we will pay fines, and we will have visitors to the site, "said Uri Stopek. This strategy, which uses a bait to attract the interest, is not new.Two years ago, the company had pushed the Rentabiliweb ploy to organize distribution of tickets in central Paris … finally canceled for security reasons.

"This type of operation, a relatively low cost compared to a conventional campaign, designed to make short-term buzz. It is a blow, Eric Weerdmeester analysis, associate director of marketing consulting firm Numsight. This generates awareness, but does not contribute to building a lasting positive image. "

But this is perhaps not the sole interest of the brand. For beyond the mere impact on the visibility of the site, the operation provides the same time to Kidioui.com data on a variety of offenders, which will then be reused for future solicitation. "Very few dealers who now offer their customers targeted offers and packaged.But this site has to do a formidable tool, said Eric Weerdmeester. It is in my opinion his best card to play. "