Increase in grants, including Milan slight easing of interest rates in the long run Italian … Silvio Berlusconi's announcement he will leave soon to relieve the financial markets. The Italian prime minister Silvio Berlusconi

The markets applauded Wednesday morning the next departure of Italian Prime Minister Silvio Berlusconi, whose ability to recover the finances of his country were strongly questioned by investors. So much so that the pressure on interest rates threatened to kill Italian Italy asphyxiation.

In the wake of the Asian stock market, the European equity markets have in turn opened up. Italian interest rates at 10 years have slightly relaxed the bond market and oil prices climbed. The euro, however, was stable.

Paris and London and took a little over 0.8% at the opening.

"The risk appetite increases, investors favor cyclical stocks at the expense of defensive background of relief related to the resignation of Berlusconi," he told Dow Jones Newswires Justin Rooney, head of sales at CBA in Sydney.

The Italian 10-year rate is slightly relaxed: they amounted to 6.65% Wednesday morning in Asia, after reaching a day high of 6.77% in Europe. Before the announcement of the forthcoming resignation of the head of the Italian government, the 10-year rate had risen to 6.77%, a level unprecedented since the inception of the euro, slightly more than the previous record which dated from the morning same (6.73%).

Sanctioned markets and Italy for its policy and had considered lax in their sights the prime minister Silvio Berlusconi, seen as unable to apply the meusres rigor demanded by the European Union.

The number of jobs created was below expectations in the United States in October but the unemployment rate fell to 9.0%, a low of six months, and the upward revision to job creation August and September suggests that the labor market found strength.

The number of jobs created was 80,000 last month, while economists predicted 95,000. But the months of September and August, that number was revised up and give 102,000 more jobs than previously announced.

The unemployment rate fell to 9.0% against 9.1% in September.

The private sector added 104,000 jobs in October, while the public sector lost 24,000.

Unemployment up off again in September

Unemployment in France is left up in September after a slight decline in August, show statistics released Wednesday by the Ministry of Labour and job center.

The number of job seekers in category A (those who exercised any activities during the month) in France rose by 26,000 (+0.9%) last month to $ 2,780,500.

In one year, the number of unemployed in category A growing by 3%.

By adding the persons engaged in small (B and C), the number of job applicants sign an increase of 0.7%, or 27,600 more people in one month, to $ 4,175,800.On an annual basis, the increase for these three categories falls to 4.5%.

September was especially unfavorable for 50 years and older, an age in which the number of unemployed in category increased 2.1% over the month and 14.3% year on year.

It was also detrimental to the age of 25, since in that category, the number of unemployed increased by 0.6%. On a year, however, declined 2%.

The de-globalization is "reactionary" according to Michel Barnier

European Commissioner Michel Barnier to financial services has denounced the speech "against" the interests "of peasants and workers", held by Arnaud Montebourg. The EU Internal Market Commissioner Michel Barnier (here at a press conference in Brussels on 21 February 2011)

European Commissioner Michel Barnier to financial services Friday sharply criticized the "reactionary discourse" of the de-globalization held in France, saying it was "contrary" to the interests of peasants and workers. "I hear that speech that I found in France (to be) a reactionary discourse on the de-globalization", denounced Mr. Barnier, former French Minister of Agriculture and member of the majority party UMP on LCI television.

"What is it? Is protectionism? The home each and every man for himself? This is contrary to the interests of the workers is contrary to the interests of farmers who need to produce goods and export "he criticized. For the Commissioner, Europe needs a sectoral industrial policy to be "a force of production" and "not just a force of consumption." In France, the PS deputy of Saone-et-Loire, to the surprise came third in the primary Socialist, Arnaud Montebourg, notably because of the "de-globalization" a major focus of the debate politique.d

Gecina will sell other assets to reduce debt

The real estate group Gecina said Thursday it planned to sell 500 million euros of additional residential assets to accelerate debt reduction.

Citing the economic and financial climate, the land says it wants to focus more on sales than on new acquisitions in the office sector.

"By making an additional amount of sales of 500 million euros of residential assets, Gecina will quickly reach a target of 1.5 billion euros in sales," we read in the press release.

The title Gecina closed Thursday at 67 euros (5.15%). He was accused Wednesday the largest decrease of the SBF 120 in response to the departure of its CEO, Christophe Clamageran, because of differences over strategy.

Are we really rich with 6000 euros per month?

For the French, a person is rich if its income reached 6,308 euros per month. This is six times less than the threshold set by the government for the implementation of the future tax on the rich.

What a rich? As defined by the Oxford, Cambridge, is a person who has "a relatively large amount of money." The French have a much more accurate definition of wealth. For them, on average, a person may be considered "rich" when its income reached 6,308 euros per month, according to a poll published in the Journal Ifop Sunday. Two-thirds (66%) of respondents, a person is rich when it gains between 2000 and 5000 euros per month.

These figures are the wealth to 5 or 6 times the monthly poverty threshold (954 euros net per month).They are mostly in line with the scale of income tax: the marginal tax rate (the top rate of income set at 41%) apply from 70 830 euros per year, or 5900 euros monthly.

This perception of wealth of the French is in any case far from the government. Tax the rich announced in late August by the Government to fight against the deficit, a key measure of the budget in 2012, provides for taxing income at 3% tax above 500,000 euros per unit per year, or 41,666 euros per month. Parliamentarians should, however, as part of the budget vote in the Assembly in October and November in the Senate, lowering the threshold to 250,000 euros or 20,833 euros per month.

In the first case, the tax affects 10,000 homes. In the second, 25 000 households.Which corresponds to only 0.01% of the French richest, according to Insee, while 10% receive an average income of around 6000 euros per month threshold at which the French are wealth.

The Greek Minister of Finance suggests a vicious cycle

Austerity measures are necessary to Greece to escape the vicious circle imposed on its economy and its debt and turn it into a virtuous circle, said Tuesday the Greek finance minister, Evangelos Venizelos.

The latter also found that the initial objectives of the European Union (EU) and the International Monetary Fund (IMF) to restore the Greek public finances were too ambitious.

He said the European agreement of 21 July on a new plan of aid to Greece was a Bible for the government of George Papandreou.

A delegation of the EU, the IMF and the European Central Bank (ECB) will return this week in Athens and Greece will receive next month a new tranche of eight billion euros to avoid bankruptcy, said Minister of Finance.

The Prime Minister will address this "troika" of the written assurances it requires on the austerity measures proposed by the government, said Evangelos Venizelos. Finance ministers of the euro zone will review these proposals and will then be unlocked using, he said.

"The release of funds will take place and will be held on time," he said.

France could reactivate the plan to help banks in 2008

The French authorities said Sunday that the system created in 2008 to help banks following the collapse of Lehman Brothers was always available on event "extraordinary".

However, they insisted that French banks, whose market value has shrunk in a few weeks, were strong and they did not need injections of public capital demanded by some stakeholders in the financial markets.

"The only thing that exists is the mechanism 2008 of a public company may purchase securities in the capital of banks if they express a need.So if there was an extraordinary event, this mechanism is in place, "said the Governor of the Banque de France, Christian Noyer, in an interview with Journal du Dimanche.

"There is no plan.And besides we do not need, "he added, saying once again its confidence in the strength of French banks.

The Sunday newspaper also reported that a proposal by the French authorities to banks, September 11, to put 10 to 15 billion euros at their disposal, along the lines of operations in 2008.

Banking sources said this week told Reuters that exploratory talks on a possible state support to the banking sector were underway.

READY FOR 2013 IN BASEL III

According to the Journal du Dimanche, the CEO of Societe Generale, an institution whose share price tumbling for weeks, has accepted the proposal of the authorities, provided that all banks participate.But "BNP Paribas declined to be supportive, burying the project immediately," wrote the weekly.

"Many intervention schemes were under consideration, simple loan to the issuance of preferred shares with warrants," he says.

Contacted by Reuters, BNP Paribas, Societe Generale and Credit Agricole had no comment.

As for the Ministry of Finance, "between the more formal denial" of the possibility of an imminent public recapitalization plan mentioned by the Journal du Dimanche.

Christian Noyer also stressed in the same interview that he has asked banks to speed up the process of strengthening their capital of schedule III of Basel, the international agreement designed to make banks more resilient. "They will be ready by 2013," he said.

To address the financial crisis following the collapse of U.S. bank Lehman Brothers, the French government established in the fall of 2008 a plan to help the banking sector by mobilizing a budget of 360 billion euros, including 40 billion to build equity and 320 billion to help banks refinance themselves via the Company's financing of the French economy (SFEF).

German banks not affected by the crisis of the euro

The rating agency Fitch sees no reason to lower notes of the major German banks, while the sovereign debt crisis in the euro area is growing, said Thursday in a Reuters analyst at Fitch.

"German banks have improved the quantity and quality of their capital positions since the beginning of the financial crisis," said Michael Dawson-Kropf, chief analyst at Fitch German banks.

"The crisis of sovereign debt in the eurozone has so far had no impact on the capital positions of the major German banks," said Michael Dawson-Kropf, in a written reply to questions from Reuters.

There is also no sign of contraction of liquidity in the big German banks such as Deutsche Bank and Commerzbank, he added.

The outlook for German banks results look good this year but a negative trend in financial markets and the outlook darkened for the German economy may restrict the results of 2012, said the analyst.

An extension of the crisis of sovereign debt in the euro area could have serious consequences for German banks, announced Wednesday the rating agency Standard & Poor's (S & P).

Moody's downgraded Wednesday Societe Generale and Credit Agricole up a notch, and extended monitoring of BNP Paribas, adding that any downgrading of the rating on BNP would probably also limited to one notch.

The market seems to focus attention on the exposure of German banks to lower Greece's debt, compared to its French counterparts, said Michael Dawson-Kropf.

Fitch has no large German bank under review with negative implications as a result of the debt crisis in the euro area, he further said.

U.S. growth slowed in 2011

Soaring commodities, debt crisis in Europe and the United States and the earthquake in Japan have affected the GDP of the first world power, which grew by only 1.3% in the second quarter.

Economic growth in the United States has slowed markedly in 2011 to 1.3% annual rate in the second quarter according to preliminary estimates released Friday by the U.S. government.

This growth rate, below analysts' expectations (1.8%), is particularly low given the significant revision of the first quarter, now estimated at 0.4% against 1.9% in June

The world's largest economy has continued to disappoint since the beginning of the year, gross domestic product rising at a rate sufficient to significantly reduce unemployment.She was hit by higher raw material prices, supply disruptions caused by the earthquake of March 11 in Japan, the uncertainties in the financial markets due to the crisis of government debt in Europe and a political debate on conflict the national debt that has left Washington without reaction.

In the second quarter, business investment shot activity, while consumption stagnated and public spending declined.

Households have seen their purchasing power by a compressed wage growth and low recruitment, combined with rising gasoline prices. They maintained an almost stable level of spending (0.1%, a contribution of 0.07 point to growth) for the first time since the recession ended in June 2009.

GDP growth is entirely attributable to the investment, which contributed 0.87 percentage point of growth, and foreign trade, which added 0.58 point.

Public expenditure, with the end of the recovery plan launched in March 2009 and the financial difficulties of the States and local governments, have weighed on activity for the third consecutive quarter. This time they cut 0.23 percentage point of growth.

The stagnation of economic activity aggravates the prospects for tax revenues at a time when U.S. lawmakers are unable to find common ground on budget issues.

Discussions on measures to accompany the raising of the legal limit to the debt of the federal government continued Friday as the Treasury has estimated that beyond Tuesday, if the cap is left at this level, states United will not honor all their commitments.

However, the central bank (Fed) and the government remained convinced in recent weeks that the economy would leave a better footing in the second half.

Treasury Secretary Timothy Geithner, recalled Sunday that "the best forecasters in the country" foresaw a growth rate around 3% in the second half. The Fed chairman, Ben Bernanke, said in mid-July that "the pace of economic recovery (would) rise in the coming quarters."

The publication of figures on Friday reflected the annual revision of GDP statistics.It shows that the recession that lasted from late 2007 to mid-2009 was deeper than previously thought the United States.

If growth in 2010 was revised to 3.0% against 2.9% in the previous estimate, the decline in GDP in 2009 was estimated at 3.5% against 2.6% previously, and the evolution of GDP in 2008 was not zero but negative, with a decline of 0.3%.

The most dramatic revision to the fourth quarter of 2008, the period of most intense crisis, during which GDP fell 8.9% year on year, against 6.8% previously estimated.