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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).

Most of the people assume all individual health insurance plans to be similar. And it is here they do the mistake.

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.

While the euro was more resilient to the debt crisis since the beginning of the year, the European currency on Monday found the lowest level since mid-February against the dollar, under $ 1.36, and for ten years against the yen. Around 10 am (Paris time), the euro was quoted at 104.23 yen against 105.92 yen Friday and 1.3562 dollars against 1.3651 on weekends.

But more than the strength of the euro is the weakness of the dollar that kept so far the exchange rate high. Since Friday and the arrival of a new wave of panic on the stock exchanges in Europe and America, the single currency is strong baisse.Si we consider the last two sessions, the euro lost 4.69 % relative to the yen and 3.83% vis-à-vis the greenback.

"There are more ways to save Greece"

The explanation is simple: "Investors act a failure of Greece, says Andrea Tueni, an analyst at Saxo Bank.With the statements of German officials to prepare a plan to deal with a lack of Greece, they have the impression that Germany surrendered and there are more solutions to avoid bankruptcy in Greece. Europe seems to think more to save its banks. " In other words, to avoid a contagion effect to Spain or Italy. "The situation is serious and everyone is wondering how this will end," said an analyst in the currency market. New economies announced Sunday by Greece have not reassured the markets.

After flirting with $ 1.40 in recent weeks, the euro plunged below $ 1.36.

The CAC 40 plunges into the red Monday. The benchmark index of the Paris Stock Exchange, which closed Friday on the day of a severe fall of 3.6%, falling more than 4.73% to close below 3000 points to 2999.54 points, after a opened down 2.41% to 3072.51 points. The movement is the same in the rest of Europe in London, the FTSE-100 index lost 3.58%, in Frankfurt the Dax was down 3.94%. Madrid and Milan unleash respectively 3.38% and 3.97%.

The health of European banks up to the center of attention. The President of the French Banking Federation (FBF), François Perol, recognizes this Monday, in an interview with Les Echos, that if "bank liquidity in euro is not a problem," "the dollar is more refinancing tense. "Executive Director of the International Monetary Fund, Christine Lagarde, in turn repeats, in an interview published Monday in Germany, criticized the request of a European bank recapitalization. "We think in general it is necessary to recapitalize European banks so that they are strong enough to withstand the risks associated with the debt crisis and low growth," she told the weekly Der Spiegel.

The chief executive of Deutsche Bank, Josef Ackermann, in turn, poured oil on the fire by saying that some European banks would not survive if they were to reassess the sovereign debt of their accounts at market price.Recapitalization forced the European banking sector could in turn send the wrong signal to markets, in this case the loss of faith on the part of authorities in the ability of measures to succeed, however, said Josef Ackermann .

Societe Generale lost 8.75% to 20.25 euros (largest decrease in the ACC). The bank is also penalized by the U.S. federal agency oversight of mortgage that has filed a complaint Friday against 17 major international financial institutions which include the French bank, for a total loss of $ 41 billion in bonds linked to subprime .

In its wake, BNP Paribas lost 7.33% to 30.97 euros, Crédit Agricole 6.22% to 5.80 euros and 4.85% at Axa 10.01 euros. Natixis lost 5.05% to 2.57 euros.The aerospace equipment Safran (-2.78% to 26.25 euros) will make its entry into the CAC 40 index, while the bank Natixis is about to leave, said Friday the Scientific Council of the indices of NYSE Euronext. The changes take effect Sept. 19.

Bad signals on growth

In addition to banking problems, the first global economy has fueled fears of a global slowdown by announcing Friday it had no jobs created in August. Following this announcement, Wall Street closed on a sharp drop of more than 2%. U.S. markets will do on Monday with European stock any procedure they will remain closed for Labor Day (Labor Day observed every first Monday of September)."Wall Street remains closed doors, it seems unlikely that operators take the slightest risk," said Chris Weston, an analyst at IG Markets.

In China, HSBC index of purchasing managers in the Chinese sector services slowed to an unprecedented low in August. Seasonally adjusted and calculated by the Institute Markit, it fell to 50.6 after 53.5 in July

No other indicator may move the indices are expected on Monday. One highlight of the week will be the release of the Beige Book Fed on Wednesday night, which will be the summary of economic conditions in regions in the United States payday loans direct lenders.

No recession expected in Europe

The side of the euro area, European Commission President Jose Manuel Barroso, has tried to reassure investors.Traveling in Australia, he said that the European economy would experience in the coming months a "moderate growth" without going into recession. "We do not anticipate a recession in Europe. The latest forecasts from the European Commission show that the growth will be at the meeting, although this growth will be moderate, it is true, "he said in Sydney.

Markit, the company that carries out the PMI, however, said on Monday that growth in private activity in the euro area slowed more than expected in August, falling to its lowest level in two years, reinforcing fears of a return to recession by the end of 2011. The composite index, which summarizes the activity in the service sector and manufacturing fell to 50.7 points against 51.1 points in July, according to a second estimate.

For his part, Jean-Claude Trichet, president of the European Central Bank said it is "imperative" to implement the decisions taken by Heads of State and Government of the euro zone in July to resolve the debt crisis.

The euro fell to 1.4127 dollars, its lowest level in three weeks. For their part, oil prices were down in electronic trading in Asia, depressed by the poor figures on employment in the United States. A barrel of "light sweet crude" for delivery in October lost 59 cents to 85.86 dollars per barrel of Brent North Sea crude for October delivery 74 cents to 111.59 dollars.Saft takes off

EDF: -2.77% to 20.37 euros

The Italian Minister of Industry, Paolo Romani, said Sunday he would meet Monday Proglio about the power company Edison.

ArcelorMittal: -4.67% to 13.46 euros

Peabody Energy and ArcelorMittal announced Monday it had extended until September 27, the period during which the short bid for $ 5 billion (3.53 billion euros) on the Australian Macarthur Coal.

Zodiac: -1.94% to 54.05 euros

The group said it had completed the acquisition of the American Heath Tecna and have reached an agreement with its banks to raise 300 million euros the amount of an existing credit line.

Schneider Electric: -6.01% to 41.35 euros

The French government intervened with the company to freeze a plan for the removal of one.000 temporary positions, the daily Liberation in its Monday edition, but the group has firmly denied to AFP such a plan.

Saft: 4.81% to 22.87 euros (largest increase in the SBF 120)

The American automotive supplier Johnson Controls will pay $ 145 million (102 million euros) to the French specialist in batteries as part of an amicable agreement ending their joint venture in the automotive industry, announced Friday the two groups in a joint statement.

Alstom: -5.16% to 29.21 euros

The group signed a 66 million euros with Iraq to build a power plant in the province of Nineveh in the north, said the Iraqi Minister of Electricity.

France Telecom: -1.67% to 12.36 euros

TPSA its Polish subsidiary has announced to contest the fine of 128 million euros that inflicted the European Commission.

After market, environment and Dried Assystem unveil their first-half results.

Shortly before the start of the session in New York, the index futures Standard & Poor's 500 and Nasdaq 100 declined by 0.26% to 1169 points and 0.77% at 2122.50 points. The Dow Jones was approached for its small down from 0.13% to 11,253 points.

After aligning the day before a third consecutive session, the U.S. stock markets may experience a more mixed session on Thursday. As of Wednesday evening, the title of Apple, the Apple brand famous plunged 7% in electronic trading after the close of trading in reaction to the departure of the group's founder, Steve Jobs, Tim Cook replaced by .

So that investors may enclose the value seriously, now, from the beginning of the session. The stakes are high for Apple.On 9 August, Apple had a happy time oil giant Exxon Mobil's first-place capitalization in the world in full trading day before falling on the second step of the podium.

Unemployment menu

In terms of macroeconomic indicators, the weekly jobless claims, which will be published before the start of the U.S. session at 2:30 p.m., will also be monitored. A consensus of analysts expected a slight decline to 405,000, against 408,000 previously.

Wednesday night, orders for durable goods in the United States had rebounded in July, prompting stock markets to rise, on both sides of the Atlantic. "But the indicator of business spending showed the U.S. economy remains fragile," do, however, keep stock analysts from Barclays.In a context marked by the end of the indicators is misguided, or worse in reality than it seems, investors are on their defense.

Meanwhile Jackson Hole

Especially since tomorrow is Friday that Ben Bernanke will speak from Jackson Hole this Friday at 16:00. We will then know whether a possible third last monetary easing, on which markets have been speculation this week, will be decided. Alternatively, investors can look forward to continued low interest rates likely. The second estimate of U.S. GDP for the second quarter will also be unveiled.

The growth rate of the world's largest economy in the spring, which had greatly disappointed a month ago, could then be revised down 0.2 percentage point to 1.1%.

The slowdown in industry was confirmed in France. So much so that the activity in this sector has even contracted in August, according to the leading index prepared by Markit PMI. The latter appears to 49.3 points (against 50.5 in July) this passage below 50 points signals a return to recession in the sector. This is the fourth consecutive monthly decline in French industrial activity. The first time since 2009. "The volume of new orders in manufacturing decreases, the contraction is also most severe for 27 months," Markit analysis.

These figures confirm the slowdown in the second quarter as the government puts the finishing touches on additional measures of rigor.

The overall activity in France continues to grow

The French, however, overall activity continues to increase, to 53.6 points in August (from 53.2 in July), on the strength of services. The services sector recorded the first increase of its activity for three months, to 56.1 points against 54.2 a month earlier. "The increase in the number of new contracts received by service providers is accelerating and shows a high of three months," says Markit.But negative signal, trust services companies about their business prospects over-year declines, to an extent not seen since the crisis began in October 2008.

Whether in the servcies or industry, employment, however, continues to progress with a "rate of creation of posts which falls to its highest level in four months," said Mark. Jack Kennedy, economist at Markit, said further that "despite the growing concern in financial markets about the French debt, growth does not record further deterioration." The horizon is by no means completely clear. The economist considers indeed "likely that growth will remain sluggish in the third quarter."

The activity in the eurozone at their lowest for two years

Throughout the euro area, the overall activity stood at 51.1 points in August, unchanged from July."Growth in the Eurozone recorded a low of two years, the volume of new orders contracting again," said Mark. Services continued to grow at 51.5 points against 51.6 in July. This is its lowest growth since September 2009. At the same time, the industry is stagnating, just under 50 points, to 49.7, against 50.4 in July.

The coming months ahead do not pleasing. The index of business prospects in the service sector recorded its largest decline since October 2008. In industry, the activity should also slow in the short term, according to Markit.

"The private sector activity in the Eurozone only records again in August that a marginal growth, demonstrating for the past few months, the weakest pace of expansion in two years," notes Chris Williamson, economist Chief at Markit.It expects a growth lower than the already weak second quarter to 0.2% was established. He added: "The near stagnation of business in Germany, so far one of the main engines of growth in the euro area, is a source of even greater concern."

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Asian stock markets are in a bad mood on Thursday. Investors in the region are not reassured Wall Street that ended Wednesday in the balance after a volatile session. Fears of an economic slowdown in the world come to the fore.

The Tokyo Stock Exchange sets the tone with an opening in the red, down 0.42% for the Nikkei. The Japanese benchmark index widened its losses in the morning to show a decline of 1.24% to 8944 points at a time of closing. A new mixed indicators on the front disrupted operators: Japan reported in a July trade surplus, four months after the earthquake of March 11, but the surplus has shrunk by more than 90% because of lower exports and a surge in energy costs.The third largest economy last month generated a trading profit of 72.5 billion yen (650 million), confirming a recovery in economic activity, but its exports fell by 3.3%.

Tokyo is hit by a rise in the yen against the dollar, which traded below 77 yen again this morning values ​​exporters are under pressure, in the image of Mazda Motor (-5.65%), Fuji Heavy Industries (-5 , 16%), Nissan (-2.96%). The electronics sector is hit by the fall of Dell in the U.S. markets. Toshiba lost 4.45% and 2.34% Panasonic.

Hong Kong is the perfect balance while in Shanghai, the stock market unscrews from 0.34%. The Korean Kospi lost 2.95%, the S & P Australian loose 1.40% and the Indian Sensex was down 0.73%.

Oil off again down

Oil prices were down Thursday morning in electronic trading in Asia as investors await key U.S. economic indicators, the first consumer of black gold in the world. On the menu, including: the weekly jobless claims, the index of leading indicators and consumer prices.

In morning trading, a barrel of "light sweet crude" for September delivery lost 33 cents to 87.25 dollars. That of Brent North Sea crude for September delivery yielded 30 cents to 110.30 dollars.

European banks may need to raise 80 billion euros, to reassure the markets. A report by JPMorgan Cazenove, led by analyst Kian Abouhossein, estimates that if the level of reserve requirements is strictly adhered to 7%, nearly two banks will raise new money. French banks Societe Generale, BNP Paribas and Credit Agricole would need twenty billion.After the publication of this note, banking stocks are displayed among the largest declines in the Cac 40: while the benchmark index of the Paris Stock Exchange was down 1.13% to 10.30, Credit Agricole wipes a drop of 1.77%, BNP Paribas was down 2.05% and Societe Generale lost 3.08%.

But French banks are not the only ones to be shamed by JPMorgan Cazenove, which encrypts needs capital to 25 billion euros for UK institutions and 14 billion euros for German lenders, including Deutsche Bank . The Italian UniCredit, Credit Suisse and Santander are also cited in the report.

This study revealed the results of stress tests published last Friday by the EBA.These tests, built on capital requirements as 5%, entered into a need to refinance 2.5 billion euros for eight of the 90 banks assessed, including any French. But investors believe these tests inadequate, particularly criticizing for not sufficiently taken into account the default risk in Greece. JPMorgan Cazenove said the criticism in his study, indicating that these stress tests have "limited value".

The evolution of banking stocks on European stock markets will be very observed on Monday morning to find Investors Arbitration between the reassuring results of stress tests and numerical study of JPMorgan. In March, ratings agency Standard & Poor's had conducted its own tests of resistance.His conclusion: European banks would need 250 billion euros of additional capital.

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The U.S. Federal Trade Commission is preparing to open an antitrust investigation of Google, said the Wall Street Journal last night. According to the daily U.S. economy, sending requests for information would be imminent. A committee of five people in the U.S. federal agency seeks to determine whether Google has abused its dominant position in the Web, particularly in the context of its advertising activities. They represent 97% of its turnover.

So far, the U.S. competition had not addressed the situation as Google through various acquisitions, such as the acquisition of DoubleClick Internet governance, governance AdMob mobile or, recently, the specialist ITA Tourism Online. The investigation by the FTC in addition to the one that opened in November the European Commission.Google is particularly suspected of promoting its own services in search results.

From this Tuesday, June 14, the fish will be on the shelves of foreign origin. In any case, this says a study published by the NGO OCEAN2012 and Nef (new economics foundation). Dubbed "the EU's growing dependence compared with fish from elsewhere," the survey said that from Tuesday, "We go fishing for fish other" because the reserves in the waters of the European Union are exhausted . For the Hexagon, "the date of self-sufficiency in marine products now comes six weeks earlier than in 2000." Without aquaculture, France even become dependent upon May 7

The country is obviously not the only one to get his fish outside EU waters. Further, where the fisheries sector is less developed, starting much earlier. This is the case of Austria, an enclave in the mountains, has to import from January 15, or of Germany (April 27)."It is surprising to note that this is also the case in some Member States with access to substantial EU marine waters, including Portugal (April 26), Italy (April 30), Spain ( May 8), "says the report.

Overall, the rate of self-sufficiency of the French following a downward trend common to all 27 EU countries. The average date on which member countries must import is currently July 2. "Last year was July 9, this indicates a decline of fishery resources in the EU of about 200,000 tons in twelve months," adds the study.

"We play with the future of stocks"

The French situation is, however, made more remarkable by the boom in demand for fish.The French consume twice as effects of seafood (34.2 kilograms per person per year) than the global average (17.1 pounds) according to 2008 figures from FAO and Eurostat, cited by study. The EU average stands at 22.1 pounds. "By eating more fish than the waters of the EU can not produce, we play with the future of fish stocks and communities dependent on fishing. We are risking the jobs and livelihoods, both within the EU and beyond, "says Rupert Crilly, co-author of the report no faxing payday loan.

"Fish stocks are a renewable resource. Yet, according to figures from the European Commission, we draw the fish faster than the stocks are able to rebuild, "says the study.The conclusion is clear: "In the EU, most of overexploited fish stocks is valued and many of them face a high risk of exhaustion."

Reforming the CFP

How then to match the ever increasing demand for and supply of fish within the EU? For the authors of the study, the answer is in the Common Fisheries Policy (CFP). This must be reformed next year for an application to January 1, 2013. To put the stocks in good condition, OCEAN2012 therefore demands a review of access rights to resources for each country. "We should set up an evaluation grid with criteria such as environmental impact on the capture of juveniles, on the release of CO2, illegal catches," said Stephan Beaucher policy adviser for fishing OCEAN2012 and co-author of the study."The criteria are also social because 100 tonnes of fish can provide 15 permanent jobs." Based on this grid, a bonus-malus loaded weight of the fishing rights for the member countries would be established.

While waiting to present his ideas to the European Commission, the NGO has read the first draft of reform. It includes bans on ocean dumping, an objective of maximum sustainable yield by 2015 expected to provide only the surplus fishing stocks and the introduction of individual transferable fishing quotas between countries."We must focus on environmental sustainability but the Commission refuses to make this a priority," says Stephan Beaucher which provides that "power relations are being put in place and it'll be hot."

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