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Gradually, the Mediterranean Solar Plan is developed. Thursday morning in Brussels, the two flagship projects and Medgrid Desertec designed separately at first, will sign a cooperation agreement. Of French origin, the first consortium aims to build high-voltage lines connecting Africa to Europe. Inspired by German, the second involves the construction of huge solar farms in North Africa.

The document will be ratified by André Merlin, President of Medgrid, and Paul Van Son, his alter ego in Desertec. Eric Besson, the French Minister of Industry and Jochen Homann, his German counterpart, will also attend. In Brussels, which is also a Council of European Ministers of Energy, the Commission also takes advantage of having worked for the merger of the two initiatives quick cash.But technological advances have reduced line losses, which now stand at 3% per thousand miles, plus 2% at the entrance and exit of high-voltage network, says the expert of the IEA.

Current day and night

The future of solar photovoltaic Maghreb will not. This will be central to thermal concentration (on the principle of Gemasolar, Spain) that have the great advantage of storing energy and thus provide power at night or on cloudy days, and especially the demand.

The first project under the Desertec should expand its parabolic mirrors of 12 square kilometers, near Ouarzazate (Morocco) and an output of 500 megawatts (more than half of a nuclear reactor for generating Fessenheim for example).

The bank said target savings of 4 billion euros of equity at end-2013.

To this end, she had set the goal of lowering rapidly than 5% of the costs CIB. Plans job cuts had been launched in Romania, Poland, Egypt and Russia.

Before the General Society, Italian UniCredit, the British HSBC and Barclays, Credit Suisse or Bank of America announced this summer plans job cuts payday loans guaranteed no fax.

Employees of BNP Paribas will be set for their Wednesday morning on their fate: the management of the bank called a central works council (CEC) to present its own special plan to cut staff in France.

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.

Just adopted and already obsolete. Wednesday afternoon voted in first reading by the House, the bill funding the Social Security (PLFSS) for 2012 will undergo significant corrections in the coming weeks. The text presented by the government was in fact built on a growth forecast of 1.75% of GDP in 2012. However, the admission of Nicolas Sarkozy, the increase in activity will be at best 1% next year. Be "a shortfall of 1.5 billion" euros compared to the current bill, said Yves Bur, the rapporteur of the social security budget. "This bill is disingenuous," said Wednesday the Socialist MP Marisol Touraine to explain the negative vote of the group. Given the measures already adopted, could fill the hole but not limited to one billion.To compensate for the 220 million that was to bring this measure, the government is considering several options: postponement of one day of payment of daily allowances, creating a fourth day of default in case of sickness, a reduction of 0, a point of the national goal of health spending (ONDAM, set the time at 2 payday loan.8%) or correction of daily allowances for stops exceeding 15 days.

The switch left the Senate finally adopted complicated "as" the social security budget. The Social Affairs Committee on Wednesday rejected a text "needy, irresponsible and unrealistic." For the communist president Annie David, this budget marks "a return to the cessation of the corporate balance" with a deficit projected at 18.2 billion in 2012.

Shale gas are not likely to be exploited in France. This was decided by the government, according to our information, is about to repeal the three exploration permits in possession of the American Schuepbach respectively (in the Ardèche and the Larzac) and French Total (near Montelimar) . The decision should be formalized at the start of next week. It comes close a file full of controversy.

Under the legislation July 13 that prohibits the controversial technique of hydraulic fracturing to exploit shale gas, licensees had to put the government in September a report in which they detail their exploration techniques. Sixty-four reports have been well reviewed by the Directorate General for Energy and Climate (DGEC).Most relate to conventional deposits and are not a problem.

In its report, stressed Schuepbach did not give up hydraulic fracturing, considered the only available technique to extract oil trapped in narrow fissures of shale payday loan. The operator is therefore logical to withdraw his license by the government.

However, Total indicated on September 12 to do without this process. "We do not take for granted the release of Total, we will use the report" had then told the BBC the Minister for Ecology Nathalie Kosciusko-Morizet. According to a source familiar with the matter, the experts found the report of the French group in accordance with law. Unless last-minute turnaround, it was not enough to prevent the decision to revoke the license of Montelimar."Nobody would have understood that we the American differences and not the French," said an industry expert.

The Paris Bourse, after changing course several times in the morning, remains close to balance mid-term. The CAC 40 in advance symbolically from 0.38% to 3034.20 points. The day before, was awarded the CAC 40 5.74% to close at 3023.38 points. Same trend in Frankfurt the Dax gleans 0.32% and the FTSE in London ahead of 0.18%. Fears about the strength of global growth are making a comeback. Economist Nouriel Roubini known to have foreseen the financial crisis of 2008 before anyone else, believes that the United States and most advanced economies are already in recession.

The Paris Bourse keep their eyes on the crisis in public finances in Europe and particularly Greece. For several days, investors expect tough decisions to stem the debt crisis in the eurozone.Europeans should take measures to stabilize Greece and the banking sector. Strengthening the emergency fund indebted countries (EFSF) was particularly mentioned. Donors of the "troika" must return to the country Thursday confirmed aa the European union. German Chancellor Angela Merkel said Wednesday await the outcome of the audit of the troika on the financial situation of Greece, to determine whether or not to renegotiate the terms of the second aid plan in the country decided July 21 .

Meanwhile in Europe, the rigor needed everywhere. After Greece, Ireland, Portugal, Spain and Italy, it was the turn of France to deliver a message of rigor.The government will finalize a 2012 budget of rigor at 17:00 with a public debt of 87% in 2012 and a tax ratio that exceeds the 44% of GDP next year, against 42.9% in 2011.

The numbers of zero growth (0.0%) in the second quarter were confirmed by INSEE on Wednesday morning. Other macroeconomic indicators are expected across the Atlantic: orders for durable goods in August, the United States will be published at 14.30 and the weekly crude oil inventories at 16:30.

As for the oil markets, a barrel of "light sweet crude" for November delivery lost 1.25 dollars to 83.20 dollars in the morning. A barrel of Brent North Sea crude for November delivery gave 96 cents to 106.18 dollars.The previous day, oil had spread over 4 dollars in New York.

The bank to follow

Among the values ​​to be followed, the bank, which had literally flown Tuesday, evolve piecemeal. BNP Paribas advance of 3.59% to 31.13 euros.

Societe Generale (-0.02% to 20.50 euros) also seeks to sell its stake in Newedge, a subsidiary jointly owned with derivatives Crédit Agricole (0.91 to 5.23 euros), as part of its plan to sell non-strategic assets, according to Reuters.

Green Bank is expected to announce a sale of assets today, reports the Financial Times. Following the example of BNP Paribas and Societe Generale, Credit Agricole and wants to improve its solvency ratios.The amount of the sale, however, was not known by the British newspaper.

The Franco-Belgian bank Dexia (0.33% to 1.51 euros) examine options to strengthen its balance sheet but excludes any split in the group, said Tuesday its chairman at the end of a board whose held fueled much speculation.

Neopost (-2.34% to 56.36 euros) on Tuesday announced an increase of 2.7% of its turnover in the first half (+5.9% excluding currency effects).The solutions specialist courier has confirmed its forecast 2011 and launched a plan to optimize its structures in the United States and Europe which should generate annual savings of about 7 to 8 million euros in 2013 .

Renault (-1.83% to 25.79 euros): According to a source close to the deal quoted by Reuters, its partner Nissan will invest $ 1.5 billion (1.1 billion) in building a factory in Brazil, capable of producing electric cars.

Alten (-3.79% to 21.55 euros) back fortementmalgré the publication of a net income up sharply in the first six months of the year (+26% to EUR 31.9 million) and perspectives optimistic about the rest of 2011.According to analysts of Gilbert Dupont, "the key issue now is the level of activity in 2012," for which the markets seem pessimistic

Goldman Sachs lowered its recommendation to "neutral" to "sell" and target price of 40 euros to 26 euros previously Peugeot (-1.06% to 16.74 euros).

Goldman Sachs has increased its share in Eurotunnel (0.98% to 6.48 euros), crossing the 25% threshold of voting rights, according to an opinion of the AMF, on Wednesday.

Sanofi (1.43% to 50.23 euros) has successfully placed a bond issue of one billion dollars (0.73 billion) maturing in 2014, with a coupon of 1.20%. The title Sanofi rose 0.73% to 49.88 euros.

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"Il Cavaliere" did not like to see the note in his country degraded by Standard & Poor's. "The ratings of Standard & Poor's seem more driven by stories in the newspapers as the reality and they seem to have been negatively influenced by political considerations," said Silvio Berlusconi in a statement. The Italian prime minister said that the country has already approved measures to balance its budget in 2013 and Italy in adopting new ones to stimulate growth. The austerity plan of 54.2 billion euros adopted on September 14 does not seem to have convinced the rating agency which doubted the credibility of the government and the Italian president.

Without having published a press release responding directly to the attack of the Italian President, Standard & Poor's is fighting back."The sovereign ratings by S & P ratings are apolitical, based on the evolution of" credit risk, provided to investors, "says one in the U.S. rating agency.

Moody's and soon …

S & P also ensures that its assessment is based on "independent analysis and detailed economic and fiscal outlook in Italy and on assumptions about the expected evolution of the debt.""The ratings indicate how the various policy initiatives may impact on the financial reliability and to hear any suggestions on policies that a government should or should not continue," said the rating agency.

Entangled in new revelations about his private life, Silvio Berlusconi is aware that the decision of S & P is a blow to the country, as Moody's may degrade the note of Italy in October that had never been lowered since the beginning of the debt crisis.

Player Figaro BFM

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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"Emerging countries would come to the aid of Europe

Pressure on Europe. Even before the G7, which met Friday night in Marseille finance ministers and central bank governors of the G7 (U.S., Japan, Canada, Germany, France, Italy, UK), Christine Lagarde urged leaders of the Old Continent to "act now and boldly."

Executive Director of the IMF did not hesitate to dramatize the situation. "The world economy is in a period fraught with danger," she said in London, alongside the British Chancellor of the Exchequer, before flying to Marseille.She reiterated her concerns vis-à-vis European banks: "Faced with the rising risks and uncertainties and the need to convince the markets, some need to strengthen their capital." We explained to the IMF and the European economies are funded for three quarters by banks and only a quarter through the markets (the opposite in the U.S.) and are highly dependent on the health of their banking system.

Old friend of Christine Lagarde, the U.S. Treasury Secretary has also multiplied the statements at the Europeans. In an article in the Financial Times, Timothy Geithner asked "an unequivocal commitment to support the European financial system and ensure that states can borrow at interest rates as they adopt sustainable reforms."Then, Friday afternoon, he returned to the charge, live from the Old Port with Bloomberg TV in the rooms was sending a market enchanting image: "It is very important for the world that the Europeans do the right thing , he said. It is in the interest of the United States that the euro will survive. "

Tensions

The G7 meeting ended, Friday night, for a press conference Baroin, who chaired the proceedings. The central bankers have published "terms of reference" that mark a commitment to "strong" and "coordinated," said Baroin, on four themes: the challenges of the global economy, the balance between fiscal consolidation and recovery, pursuing monetary policies that allow banks to supply the necessary liquidity, and the reform of financial regulation.

The responses of the G7 remains limited.The possibility of an announcement of coordinated central bank for monetary policy even more generous seems unlikely, "I do not think we will see that," Geithner acknowledged. The IMF, whose services are exposed to a new state G7 encrypted in the world economy, called for a stimulus modulated, depending on the situation of each country, welcoming the passage the Obama plan for employment (see below below).

But Germany, the only G7 country whose public finances could provide room to maneuver, had refused in advance: "Combating the crisis with a debt even more pronounced, it would be the wrong path to take," said Wolfgang Schäuble, his finance minister. But that's another German who fed the conversations, Jürgen Stark, the chief economist of the ECB, resigned.

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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.