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The drachma, lira and other marks will they soon return to their distributors? Among the patrons, many do not want to believe, but the taboo has fallen in recent weeks, the crisis of sovereign debt has indeed reached the heart of the monetary union. "We're not there, and policies must absolutely do everything to avoid it, demonstrates a pattern of CAC 40. But never the uncertainties have been greater, and in the circles of European bosses, the topic is everywhere. "

Within groups – especially multinationals – the challenge now is to consider this assumption is not quite school, building plans for the "case". A subject on which, not surprisingly, more people start to speak outside the euro area and within it. Across the Channel, Constable British banks have their very formally requested to develop crisis plans ad hoc.In New York and London, in turn, several large financial platforms (CLS Bank, ICMA, Thomson Reuters or FXall) that run from bank to bank transactions, including foreign exchange, have informed their customers that they were preparing. For those operators who brew massive amounts of transactions, it is to ensure full and prompt treatment, even if the name change money.

The RGPP is accused of degrading the quality of public service …

She, however, improved the quality of service. The unemployed, who had previously two parties, the ANPE and Assedic, are addressed only to the employment center. There are two more administrations for taxes, but only one. Another advance, the French can make 80% of their usual procedures online at any time of day and night. Finally, we are always looking to reduce delays. Thus, the Hospices Civils de Lyon (CHU) fell by over 50% of the time to transition to pediatric emergencies, reducing it to half past one.

It's a roller coaster! After falling to 1.3146 dollar, the euro has rebounded sharply, to $ 1.42. These days, he came back around $ 1.36. These violent movements illustrate the nervousness of the operators. In their defense, it is increasingly difficult to predict the various economic and political events.

Strategies in all were very pessimistic about the euro a month ago have adopted more moderate judgments fast cash now. "European politicians have given themselves time to solve problems. While Greece is in trouble but it still has until mid-December to collect the necessary financial support, "said John Kicklighter, Currency Strategist at DailyFX.

At Saxo Bank, comments are more incisive. "The sharp depreciation of the euro against the dollar mainly due to the renewed concern about the Italian debt.

Asian markets see red on Tuesday, like their American and European counterparts. After a brief period of optimism following the European Agreement on the debt control, "the market's attention is focused on implementing the plan, wondering when banks will be recapitalized and if additional funds can be allocated to the European financial stability, "said Kazuhiro Takahashi, broker at Daiwa Securities, quoted by Dow Jones Newswires.

The Tokyo Stock Exchange and ended the session down sharply from 1.70% to 8835.52 points. The broader Topix index has in turn yielded 1.25% to 754.50 points. In Japan, the export sector still suffers from a weak yen against the dollar only after direct intervention from the Japanese government on the foreign exchange market to weaken the outbreak of the currency.On Tuesday, the dollar stood at just above 78 yen and the euro around 108 yen, well below their value on Monday. "We are engaged in a war of nerves" with speculators, said Japanese Finance Minister Jun Azumi at a press conference.

Toyota lost 1.82%, Mitsubishi and Nissan Motor 1.90%. The automotive sector has not benefited from the announcement of an increase of 28.3% of new vehicle sales in October. TDK has, however increased by 3.67%, even after the publication of a net profit, down to $ 56.6 million in the third quarter. Toshiba has gained 1.43% despite announcing a 19% drop in quarterly profits. Other value of the day in Tokyo: Panasonic, which has lost 5.07%.The rating agency Moody's said it may lower the rating of long-term debt of the Japanese electronics giant, because of the poor profitability of its TV and semiconductor and high costs of Restructuring.

Oil down

Moreover, time is also reduced. The Stock Exchange of Hong Kong and Shanghai respectively, losing 1.97% and 0.11%. The Korean Kospi is in equilibrium, an increase of 0.03%, the S & P lost 1.52% Australian and Indian Sensex drops 0.80%. In Sydney, the mining sector was battered in the wake of the raw materials: BHP Billiton lost 2.72% and 2.98% Rio Tinto. Same thing in Hong Kong where Aluminum Corp. 4.38% loose.

Oil prices were down after the announcement of the bankruptcy of U.S. broker MF Global Fund and new fears about the debt crisis in the euro area.

The threat of a strike by cabin crew of Air France for the Thanksgiving holiday continues to weigh, despite progress in negotiations. One of the three unions, Unac, has indeed lifted its strike notice on Tuesday, after further management proposals. "Given the achievements and progress of these negotiations, delegates from the Unac consider that we should not miss this opportunity to meet our demands," said the union.

But two other unions, the SNPNC-FO and UNSA-Air, have maintained their parallel strike notice, which shall commence from 29 October for three to five days.

Negotiations break down including the number of crew members present on long flights, medium and short haul Air France would like to reduce.However, "this will place a serious case of the safety of passengers on flights of Air France," a judge of the unions representing flight attendants and stewards, the SNPNC-FO, in a statement.

Individualisation of pay

The unions also challenge the project management to change the evaluation system flight attendants. Air France would they be judged by their purser, rather than instructors, who are former cabin crew, as is the case.

But the unions, particularly the UNSA-Air, fear that this reform does not lead to an individualisation of pay in lieu of the automatic promotion today. They also fear that this new mission will turn the heads of cab "chefaillons.""After eight hours of negotiations, management has not provided a satisfactory response to our demands," summarized the SNPNC-FO cash advance today.

The social atmosphere is tense at Air France, then the group is setting up a savings plan which aims to restore its competitiveness. The priority of the airline is more than ever to fight against fierce competition from low cost airlines, said Jean-Cyril Spinetta, head Air France-KLM, in an interview to Le Monde dated Tuesday.

Restore competitiveness

To do this, Air France opened on October 2 its first regional base in Marseilles, to serve thirty destinations. Other bases are expected to follow in Toulouse, Nice and Bordeaux in 2012, after negotiations with the unions. The opening lines of low cost flights from Marseille had required a significant reorganization of work, to achieve lower costs by 15%.

If negotiations prove difficult, the group has little choice. Air France KLM has lost 40% of its market value in two and a half years, and suffered a loss of 197 million euros in the first quarter of fiscal 2011-2012. Just days after replacing unexpected Pierre-Henri Gourgeon Juniac by Alexander at the head of the group, Air France – KLM is also expected to issue a warning on its results for the period April to September, announced on Tuesday morning radio BFM Business. The company declined to comment on this information.

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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.

After his recovery in the day Wall Street takes a break. The Dow Jones falling by 0.25% to 11,549 points and the Nasdaq 0.70% to 2639 points. Investors should indeed play the card of caution before the release, after closing, the beige book of the U.S. central bank. This snapshot report on the health of the U.S. economy is still highly anticipated by the markets.

Meanwhile investors remain focused on company results and the problems of sovereign debt in Europe. After the warning on the sovereign rating of France, Moody's downgraded by two notches on Tuesday night the note of Spain. This goes from A1 to Aa2 with negative outlook. The rating agency believes that the country remains vulnerable to difficulties in credit markets.In addition, Moody's does not exclude a further reduction if the crisis worsens in the euro area.

Paris and Berlin would be willing to strengthen the stability fund

Rumors press reported an agreement between France and Germany to increase the capacity of European Financial Stability Fund (EFSF) to 2000 billion. But European officials have denied the existence of a formal agreement. This issue should be at the heart of the EU summit on Sunday. Yesterday, however, German Chancellor Angela Merkel reiterated that the top of Sunday should be an "important step" but that the crisis can not be resolved "in a single peak."

At the macroeconomic level, housing starts in the U.S. rebounded strongly in September (15%), driven by the community housing sector, according to figures released Wednesday in Washington by the Department of Commerce.The consumer prices increased in September (0.3%) for the third consecutive month, continuing to erode the purchasing power of households. Investors will also monitor the weekly report on Wednesday oil stocks.

On the foreign exchange market, the European currency climbed to 0.60% in mid-session 1.3825 dollars against 1.3752 dollars late Tuesday.Oil, however, is more mixed.

The barrel of "light sweet crude" for November delivery lost four hundred, to 88.30 dollars a barrel while Brent North Sea crude for December delivery was appreciating by 13 cents to 111.28 dollars.

Mixed results

• Morgan Stanley (2.77% to 17.09 dollars)

The bank on Wednesday reported a profit of $ 2.2 billion in the third quarter against a loss a year earlier, along with a sales increase, both worn by an accounting adjustment.

• AMR (-7.80% to 2.60 dollars)

The parent of the airline American Airlines, announced Wednesday a net loss of $ 162 million for the third quarter, stronger than expected, partly attributed to rising fuel prices no fax payday advances.

• United Technologies (-0.39% to 73.83 dollars)

Technology Group has announced a 10.5% increase in profit to 1.32 billion in the third quarter and raised its forecast for annual results.

• Abbott Laboratories (4.50% to 54.80 dollars)

The health group will split into two listed companies, one centered on the biotechnology and pharmaceutical drugs, the other on medical devices, diagnostics, nutritional supplements and generic drugs, announced the laboratory management.

After the close of Wall Street, Tuesday, several big names from the coast, including three technology giants Apple, Intel and Yahoo! have announced their quarterly results.

• Apple (-5.17% to 400.41 dollars)

The company issued a apple annual net profit up 85% to 25.22 billion dollars but less than market expectations, with a fourth quarter hit by the slowdown in sales of iPhones. The turnover stood at $ 28.3 billion against $ 29.6 billion expected. The firm at the apple has sold 17 million iPhones during the quarter (as against 20 million expected), 4.89 million Mac computers (4.4 million expected) and 11.12 million iPads. For the current quarter, the group of Cupertino expects earnings per share of 9.3 dollars against 9.02 dollars estimated by analysts.

• Intel (4.40% to 24.43 dollars)

Micoprocesseurs a giant in the third quarter against a BPAD $ 0.65 $ 0.61 expected and $ 0.52 last year.The turnover stood at 14.23 billion against $ 13.87 billion a year earlier. The group also increased the amount of its share repurchase program to $ 10 billion.

• Yahoo! (4.46% to 16.16 dollars)

The engine iinternet published for the third quarter EPS of $ 0.21 against $ 0.17 expected. The revenue excluding traffic acquisition costs amounted to $ 1.07 billion, as expected. For the current quarter, the company expects a turnover of 1.13 billion dollars against 1.24 billion expected by analysts.

• Cree (-8.17% to 25.52 dollars) has reported a turnover of 269 million dollars in the first quarter of 2011/2012, stable over one year. Net income fell 58% to 28 million.For the current quarter, Cree expects a net profit of 29-33 million.

• CSX (1.63% to 21.05 dollars)

The group of small electrical equipment achieved a turnover up 11% to $ 2.96 billion. Net income was $ 464 million against $ 414 million a year earlier.

After the close American Express and eBay announce their figures.

Morale is looking good again this Thursday on the Asian markets. After being cooled by the Slovak parliament not the strengthening of the European Financial Stability Fund (EFSF), investors in the region are now reassured by the statements of European leaders to end the debt crisis. They have shown their approval for an urgent recapitalization of banks in the euro area. Analysts see it as an important change: the euro area is now considered a default of Greece as an option.

Operators also appreciate the position of the European Commission called for a strike force increased EFSF. In this regard, the Slovak government promises a new vote in Parliament no later than tomorrow, Friday. These news had boosted European and U.S. markets to new heights yesterday.

A weaker yen

Direct impact on the markets, the euro is rising again.It is 1.3801 dollar and is trading around 106.30 yen this morning sharply higher against the Japanese currency. In Japan, the Nikkei is relieved by the weakening of the currency. One hour of closing, he climbed 0.86% to 8814 points. Export values, hit recently by concerns over the global economy is picking up. TDK Corp jumped 4.17%, 2.96% Sharp and Citizen Holdings 3.05%. The automotive sector is also up to the image of Mazda Motor (4.49%) and Hyundai (2.7%).

The Stock Exchange of Hong Kong and Shanghai respectively earn 18,680 points to 1.91% and 0.50% to 2432 points. As for ads, the trade surplus of China has contracted to 14.51 billion dollars last month with a slower growth of exports.They rose in September by 17.1% year on year to reach 169.7 billion dollars, slower than imports jumped 20.9% to $ 155.2 billion dollars.

The Korean Kospi advance of 1.11% to 1829 points and the S & P Australian 0.85% to 4240 points, relieved by the authorization granted by the competition authorities Virgin Australia (1.59%) for an alliance Singapore Airlines (1.52%).

Oil markets more cautious

The oil was however down Thursday in Asia, where the market wait before the publication of figures on weekly petroleum reserves in the United States. In electronic trading, a barrel of "light sweet crude" for November delivery lost 86 cents to 84.71 dollars. Barrel of Brent North Sea crude for November delivery yielded nine cents to 111.27 dollars for the last trading day of the deadline.

Second failure in two days for users of BlackBerry. Just hours after suffering a first stop on its servers Monday, the Canadian was again faced with a similar problem yesterday. Virtually all countries are affected. Consequence: the sending or receiving mail on BlackBerry were disrupted and access to the Internet. The explanations provided by the group are at least succinct: "We are working to restore service and apologize for the inconvenience." The breakdown would originate from a server malfunctions in Europe, according to sources.

These blackouts are more embarrassing for BlackBerry, which had the reliability of its services is signed. Aimed primarily at business users, the brand can not afford such failures.Especially since it is increasingly challenged, including the professional market, including smartphones from Apple and Samsung faxless cash advance.

Rumors of sale to Vodafone and Microsoft

In addition, these incidents are still undermining the leadership of the group which faces a shareholder revolt led by investment funds. They call for a change of management or the sale of the company. Since the beginning of the week, rumors have multiplied. The Wall Street Journal referred to a sale of the Vodafone brand. Others imagine a takeover by Microsoft, but it already has a partnership with Nokia.

These rumors have helped support the stock price. On Wall Street, on Tuesday, shortly after 20 hours (French time), the action Research in Motion (the maker of BlackBerry) was the same upward trend, gaining 3.63% to 24.07 dollars.

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The award, last year's Nobel Peace jailed Chinese dissident Liu Xiaobo was an unexpected victim: salmon from Norway, host of the committee awarding the famous distinctions.

Furious at the sudden media exposure of Liu – they consider a "criminal" – Chinese authorities have in fact increased the veterinary strengthened against Norwegian salmon. The AFP ensures that the health tests are so extensive that these fish end up rotting in warehouses.

Result, exports of Norwegian salmon in China have fallen by half during the first eight months of 2011, Oslo hoped an increase of at least 30%. Three figures sum up the confusion of Scandinavian fishermen. December 2010, the date of the ceremony: 1000 tons sold. January 2011: 315 tonnes. February 2011, 75 tonnes.Norwegian exporters have tried to go through Hong Kong, but this shortcut stale quickly resulted in an impasse.

The operation antisaumon is very symbolic, since the other Chinese imports from Norway were up by 16% because of higher commodity prices. It is true that to meet their urgent needs of the Chinese energy resources are much less fussy.