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The Greek government expects a budget deficit reduced to 5.4% of GDP in 2012 assuming implementation of the proposed debt exchange expected to reduce the burden of public debt, according to the proposed final budget submitted Friday in parliament.

Excluding the impact of the debt swap (PSI), the project includes a deficit equivalent to 6.7% of gross domestic product next year after 9.0% this year.

The exchange of debt should lead to an issue of new bonds with a nominal value of EUR 70 billion and the payment to bondholders deprived of 30 billion euros in cash.

The parliamentary debate on the budget next week to begin by examining the text in committee, the plenary vote is scheduled for 8 or 9 December.

In many cases, individuals will apply for an online advance in order to avoid a blemish in their credit history. As in the case of any other loans, while applying for instant payday loans it is important to contemplate all the viable options that are available to you.

Confidence will be key to reviving growth in the U.S. economy and soothe the anger that swells around the global financial system, determined by the Director General of General Electric, who said he understood the movement of "outrage" of Wall Street.

Jeff Immelt, who heads the world's leading manufacturer of aircraft engines and electric turbines is also senior adviser to President Obama for employment and the economy.

"Until we have restored confidence, we can not move forward," he said at a conference organized by Thomson Reuters in New York.

He called for exercise of "empathy" with respect to the crowds of protesters occupying Wall Street and parade through the United States last month to denounce the excesses of the financial system, inequality and the economic crisis.

"Unemployment reached 9.1%. Underemployment is even higher, especially among young people without a university degree," he listed. "It is natural to assume that people are angry."

"The only way to solve this particular problem is growth," he said. "If unemployment is falling, people will feel better.If unemployment rises, people will feel even worse, what happens on Wall Street, no matter what the reform of finance. "

Jeff Immelt also commented on the debt crisis in the euro area, which worries financial markets worldwide and has already pushed major banks like Bank of America and JPMorgan Chase to announce layoffs.

"The most likely scenario is that Europe has a low growth for a long time," he said.

The very slight decrease (-0.1%) the number of job seekers with no activity was offset by higher (0.5%) of the total number of people seeking work, including those engaged in a reduced . Agency employment center in Nice

The number of job seekers without work (Category A) in France has declined slightly in August from 0.1% after three months of increases, to 2.754 million people, according to figures released Monday by the Ministry of work. However, the total number of people seeking work, including those engaged in a reduced (categories A, B and C), has again increased in August by 0.5% the previous month to 4.148 million in people.This number is up 4.3% year on year.

After four months of reflux from January to April, unemployment has gone the way of rising from May to July along with the slowdown in growth (which was nil in Q2). In total, since the beginning of the year, the number of job seekers without work rose 29,000 people. The increase over one year (from August 2010) is 2.3%. It is 4.3% over the year including applicants who have worked reduced.

By age, the situation improved slightly for young people but deteriorates again for seniors.The number of job seekers in all categories, under 25 years decreased by 0.4% in August on a month (-1.3% yoy), while that of job seekers over 50 years increased by 1.2% (+14.6% yoy). The long-term unemployment also continues to grow: the number of registered unemployed for over a year has increased 0.6% from July and 8.7% year on year. The average length of job seekers registered in categories A, B, C, end of August 2011 is 455 days.

Unemployment remains at 9.3% at end 2011

A month, entries for the end of fixed term contracts (-0.2%), redundancy (-5.5%), first entries (-6.4%), times of activity (-3.6 %) and other cases (-4.8%) declined. Entries for other layoffs are stable. Those for the purpose of temporary assignment (5.2%) and resignations (+1.2%) have increased Revenge.The outputs for employment times reported (-4.6%), came into training (-14.7%), research stops (-5.2%), radiation administration (-11.1%) and other cases (-8.1%) declined. Radiation for failure discount for their part, rose by 6.1%. In total, the number of entries is higher than output.

The government is committed to increasing the unemployment rate below 9% by the end of the year. Unemployment insurance for its part considers that rising unemployment will continue this year and 2012. According Unedic, the number of job seekers without work is expected to increase again this year to 36,700 and 55,500 in 2012. In all, the end of 2012, 2.8 million people and 4.4 million inactive with reduced activity would be included on the lists of employment center.

A study released today by Coe-Rexecode is hardly more optimistic.According to the Institute of conditions close to the business, the GDP should grow lights this year by 1.7% and 1.2% next year. The French economy would create 195,000 jobs in 2011 and 115,000 in 2012. The level of unemployment, however, remain high at 9.3% and 9.1% end 2011 end 2012.

The Tokyo Stock Exchange finished Monday up 1.37%, taking in turn the path of recovery from the European and U.S. markets late last week.

The Nikkei gained 122.69 points to 9,086.41 and the Topix, broader took 8.93 points (1.16%) to 777.12.

GDP figures, published earlier today in Japan, reported a smaller than anticipated contraction in the economy, with a decline of 0.3% against -0.7% expected and 0.9% in quarter above.

As the Osaka Securities Exchange, the operator of the Osaka Securities Exchange, finished up 8.6% to 410,500 yen.The daily Yomiuri Shimbun reported on Saturday that the Tokyo Stock Exchange plans to become the purchaser via a takeover bid.

Toyota, Honda and Sony have outperformed the market by winning respectively 2.91%, 3.43% and 3.93%.

From Tokyo to Wall Street, via Frankfurt, Paris or London, the world stock markets have been strongly shaken on Monday by the deterioration of the credit rating of the United States. The specter of a new stock market crash is on everyone's mind. In Asia, the Shanghai Stock Exchange closed down 3.79% Monday, August 8. Why stock markets loosen?

Initially, it is the debt crisis of the Greek and European, who threw the trouble in the markets. Even the European rescue plan last July 21 is reached only very briefly restore investor confidence. Since every day is bad news was sinking deeper into the red exchanges. In late July, the U.S. announced a low growth in the first half (+1.3%) and something unique, a downward revision of growth earlier.The slowdown in industrial activity, lower consumption, and uncertainty on global growth while adding to the uncertainty room. At the same time, fears the strongest focus on the U.S. debt crisis, for which the consensus seems impossible to find. On 2 August, a few hours of the deadline, Democrats and Republicans finally agree to increase the ceiling on the debt. But markets were not satisfied with this agreement as a minimum, no resolutions have been taken seriously to reduce the deficit. The rating agency S & P, which called for an agreement is reached 4 trillion dollars of debt reduction ends up putting his terrible threat. Friday, it fell for the first time in its history the U.S. debt rating to AA +.The perfect ingredients for an explosive mix together: the problem of rising debt and sluggish growth concerns, which eventually self-sustaining. On the European side, where stock markets have dropped tremendously due to the debt crisis of the European, the penalty is double, the markets continue to tumble.

Companies are they for something?

Companies are not completely foreign to the decline. The second quarter results have indeed disappointed the markets, especially in Europe, where companies suffer from the downward revisions of growth in Asian countries. Some of them are even forced to carry warnings about results, after first quarter yet considered excellent. In the United States on the other hand, companies have greatly benefited from sustained growth in Latin America and favorable foreign exchange effects.Thus, in the second quarter, 71% of U.S. companies have published the results above expectations, against only 46% in Europe. In detail, the most battered markets are industrials, technology and raw materials, that is to say the most exposed to global growth … However, the health of companies is not as bad as it sounds, and has participated only slightly in summer stock unscrewing. "The CAC 40 companies for example are for the most beneficiaries. What more shocking is the difference between the optimism a few months ago and gloom," said Christian Parisot, an economist at Aurel Level .

Can we talk about stock market crash?

The definition of crash-sudden and precipitous decline in the index of one or more places worldwide, is not absolutely clear.Economists agree that there is crash when the index lost more than 10% in one session, and / or 20% in a few days, which only happened twice in the twentieth century, 1929 and 1987. Even in 2008 at the height of the financial crisis, we have not seen a stock market crash, but only to a very high price volatility. This does not mean that the situation is not alarming either. Since the last above, July 22, several European indices like the CAC 40 lost more than 15%. Moreover, the concern of investors is more about the resulting decline in prices on the magnitude of this decline: from 10 days now the markets are falling continuously, including a first for the CAC 40. This means that in 15 days, any economic indicator, no technical rebound has allowed the evidence to blow.

How far this can go down?

This day of Monday is crucial. All weekend, governments and central bankers worldwide have struggled to find solutions to avoid the emergence of a new Lehman Brothers. In France, Nicolas Sarkozy has stepped up calls with its European counterparts, particularly with German Chancellor Angela Merkel. The G7 finance ministers also met in the night from Sunday to Monday and pledged to "take all necessary measures to support financial stability and growth." Understand the central banks are ready to inject liquidity in the markets in a panic. As for the ECB, it was prepared to buy back the debt if the Spanish and Italian investors deserted.The result was encouraging since at the opening of European stock, the dreaded crash did not occur. But as and when the day, the situation has worsened. At 4:30 p.m. in Paris, the benchmark index fell nearly 4%, as investors kept their eyes on Wall Street. Almost an hour after opening, the U.S. stock markets lost more than 3%. The crash is not excluded.

In the longer term, it is very difficult to predict what will happen in the markets. "Everything will depend on the credibility of political solutions in place to absorb the debt crises on one side and across the Atlantic, said Christian Parisot. While at present, governments have made important decisions, their implementation is delayed. "In Europe including the pace of the support plan, which must not pass the national parliaments by the end of September, largely contributes to the crisis of investor confidence. Moreover, "everything depends on the practical implementation of plans to reduce deficits. If growth continues despite the cuts, then the market can regain some momentum," said Christian Parisot. But for the latter, as any good macroeconomic indicator will not be published, global indices remain capes, investors are not willing to pay dearly in the future of stock exchanges as unstable.

G20 countries have made contact by telephone Sunday morning to discuss the consequences of the debt crisis on both sides of the Atlantic, shaking financial markets and fears of a relapse of Western countries into recession.

After heavy turbulence in global financial markets, which lost 2,500 billion during the past week, European and American leaders find themselves again forced to reassure investors about the ability and determination of countries to reduce their deficits and public debts.

According to South Korea, a conference call Sunday morning brought together financial officials of the G20, which groups the world's major economies, to discuss the situation caused by tension on the debt in the euro area and lower by Standard & Poor's sovereign rating of the United States.

The G7 finance ministers are also expected to contact during the day and it is possible that they broadcast a statement, said a Japanese government source. The most logical would be that the conference takes place before Asian markets open on Monday at 9:00 (0:00 GMT).

The European Central Bank (ECB) will hold a conference call for its Sunday afternoon.Markets expect the ECB to see begin on Monday the purchase of government bonds in Italy and Spain in order to stabilize prices, but the issue divides within the institution in Frankfurt.

French President Nicolas Sarkozy, whose country currently chairs the G7 and G20, spoke Saturday on the phone with British Prime Minister David Cameron.

ITALY

In Washington, an economic adviser to the White House deplored the decision by S & P to degrade the rating of U.S. debt from AAA to AA +, which could ultimately affect all markets by increasing the cost of borrowing and undermining the prospect of sustainable recovery.

Asian allies of the United States, Japan and South Korea have renewed their confidence in U.S. Treasury bills, may lose value.

"There will be no sudden change in our policy of reserve management," said Vice Minister of Finance of South Korea, Choi Jong-ku.Much of the country's foreign exchange reserves, valued at over $ 300 billion, are made up of U.S. bonds.

"No alternative does not provide such stability nor such liquidity," said the South Korean official.

But the immediate concern of financial markets for the debt crisis in the euro area, while interest rates in Italy or Spain jumped to their highest levels in 14 years in recent days.

The absence of repurchase obligations of both countries by the ECB to ease prices has been particularly punished by the markets that have seen the sign of internal divisions harmful.

German officials in the central bank to claim the benefits of the implementation of stringent austerity measures before giving the green light.

Pressed on all sides, the Council President Silvio Berlusconi said Friday evening the implementation of an austerity plan a year ahead of schedule, achieving a balanced budget in Italy in 2013.

WASHINGTON SERMON S & P

One of the dangers feared by economists is to see Italy, the third economy in the euro area and the eighth world economy, private market financing.

Italian public debt reached 1,800 billion euros, or 120% of gross domestic product.

July 21, the countries of the euro area agreed on strengthening the European Financial Stability Fund (EFSF) to assist its members in trouble, but decisions must still be translated into action.

In addition, an extension of the crisis in Italy or Spain, after the bailouts granted to Greece, Ireland and Portugal, in the eyes of observers would require a strong increase in lending capacity of EFSF, with time for the 440 billion euros.

Quoted by the weekly Der Spiegel, the German government experts doubt that Italy could be re-floated by the EFSF even if the fund saw its capacity threefold, because the needs of Rome are in their too great.

United States, the lowering of the sovereign rating has been denounced by the Treasury, which held that the rating agency "forgot" 2000 billion in budget savings in its calculations.

Gene Sperling, economic adviser to Barack Obama, quipped on an agency "that starts from a conclusion and then looks for arguments to prove it."

The U.S. president called on members of Congress, who have battled for weeks over the question of raising the debt ceiling, to unite to improve the fiscal situation and stimulate growth.

Nissan Motor said Tuesday it intends to nearly double its annual sales in China to sell 2.3 million vehicles a year by the end of 2015.

Nissan, the first Asian manufacturer in China, plans to do to invest 50 billion yuan (5.3 billion euros) in this market, now the world's biggest car market.

This objective is part of the strategy of the Japanese manufacturer who wants to focus on emerging markets and increase its margin to 8% in the next six years.

"The strong partnership established with Dongfeng Motor was the main driver of growth over the last eight years the Chinese market," said the boss Carlos Ghosn of Nissan in the statement.

"The new plan, which includes investments in production capacity, products and innovation, will enable the Chinese market to remain the largest market for Nissan."

To propel its sales, currently 1.3 million vehicles a year, Nissan will launch 30 new products in the next five years, including electric vehicles under the brand Venucia, which will be marketed by 2015.

Last year, Nissan has won a record global market share of 5.8%.China's market share was 6.2%, ahead of Toyota Motor and Honda Motor.

In September, Carlos Ghosn announced a target of 10% market share in China, but did not specify a timetable.

In the first half of 2011, Dongfeng Motor, a joint venture between Dongfeng and Nissan, sold 734,440 vehicles in the Chinese market, which represents an increase of 13.4% over the previous year, against a 3.4% increase on all markets.

The businessman Carl Icahn proposed Friday to $ 10.2 billion on the table to buy Clorox, a maker of bleach.

The offer represents investor 76.50 dollars per share, a premium of 12% over the closing price of Clorox Thursday night. He already owns 9.4% of the company.

In a letter to the CEO of Clorox, Carl Icahn said he had great confidence to see other groups for Clorox to purchase at a higher price.

Carl Icahn offerings have traditionally a positive impact on share prices of groups in which it invests.

He said companies specializing in consumer products would make interesting synergies if they were to acquire Clorox.He said not to exclude offers $ 100 representing the action on the part of groups such as Procter & Gamble, Unilever, Colgate-Palmolive, Reckitt Benckiser, Kimberly-Clark, Henkel or SC Johnson, an unlisted group.

Analysts industry experts question the advice given by Carl Icahn, holding that the Clorox product line is not necessarily the most attractive for groups that already have a foothold in the consumer products.

The Spanish bank Banesto Retail reported Tuesday a 25% drop in net profit in the first half, due to higher funding costs.

This drop is less than expected, but by 9:45 GMT, Banesto yielded 0.38% in the wake of other Spanish banks on fears of contagion from the debt crisis across the euro area.

"This is total panic in the market, and following the fall in sovereign risk," said Nuria Alvarez, an analyst at Renta 4."The market does not look at the results, and even stress tests do not weigh much."

Majority owned by Santander, Banesto is the first Spanish bank to publish its first half results.

It gives a first indication of the status of an industry plagued by soaring cost of borrowing, while the performance of the Spanish sovereign debt has surpassed the 6.0%, a record since the creation the euro area.

Banesto's net income in the first half stood at 287 million euros, while analysts polled by Reuters on average expected 265 million.

Net banking income stood at 769.4 million euros against 763.5 million euros expected.

The share of debt held by Banesto risk increased to 4.39% of its book debts at the end of June, against 4.15% in late March. This ratio remains below the industry average, which was 6.11% in late March.

The bank also said that he was late in June 82 million of generic provisions – capital reserves made ex ante to cover potential losses – while analysts expected it to have exhausted in the second quarter.

To believe the comments of the New York Times that revealed the problems of credibility of the accused, many readers are not yet ready to launder the former head of the IMF. They are even quite wary about it. Soon the end of the tunnel for DSK?

The charges against Dominique Strauss-Kahn is on the verge of collapse, says the New York Times. The U.S. newspaper revealed that the alleged victim Nafissatou Diallo lied several times since his alleged assault on May 14 and that the prosecutor's office does not believe much in the version of the maid of the Sofitel Guinea. If the French press has already begun to rehabilitate DSK, many Americans remain suspicious rather the contrary.The more than 500 comments from readers provide a first glimpse of the variety of their reactions.

"Sexual assault does not touch the innocent"

Many are warning against a hasty conclusion about the innocence of DSK. "It may be a liar, a thief, an illegal immigrant or even just a bad person and being raped. Sexual assault does not touch the innocent," recalls Tracey S. Peter also relativize the importance of the lies of the accuser: "A woman in her situation lie nervously on his immigration status should not surprise anyone, given the hostile climate of the country to its immigrants."

She may have reasons to lie, but it may be enough to kill his chances of convincing the jury because, as Lambert points out, "the whole process is based on the words of the protagonists.It was obvious that DSK would do whatever his extensive financial power would allow him to sully the bribe, or both. "A comment may be forgetting a little faster than calling into question the credibility of the complainant is that the prosecutor's office, not lawyers DSK.

Even readers willing to consider that DSK can be innocent of the crime he is accused believe that this whole thing is still positive. "If this incident pushed the French to reflect on their attitudes towards women, is a good thing," said Ralph, who adds: "it is evident that Strauss-Kahn has a sordid past and a reputation that had been hidden under the carpet. Now the truth is out, you can not hide. "

A little self-criticism …

More rare are those who undertake a real critique of American media and judicial management of the case."What a shame for the NYPD, the Manhattan District Attorney and the United States, Publius indignant. If you leave someone like him from the aircraft to give it the" perp walk "and prevent it from obtaining its bail, you better be sure of your cause. " Doug Terry said meanwhile that DSK "was not a fugitive unknown, but a senior official of one of the best known global institutions and we knew he was in France." For him, it should have been let go quietly in Paris, "it would have only been" suspected "but not arrested, charged and banned from traveling. What happened is a huge shame for the United States and our system of laws."

JScottK and warns that this case is a blow over the Franco-American relations: "Next year, Strauss Kahn will be a candidate for president and the French will express their sympathy by voting for him.If you believe that the Franco-American relations are strained now, wait until 2012 to see ".