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LE FIGARO. – Despite the progress of the Brussels summit in Cannes and G20, the euro area is still in turmoil. What is the right long-term EU strategy to ward off these attacks on the euro?

Edouard Balladur. – Efforts by the Franco-German cooperation is commendable, but it must go further. The Europe of 27 is too broad and diverse, it is little more than a big market for the euro area, it has a single currency, but it is struggling to make quick decisions and does not have a policy exchange decided by a governmental authority. For twenty years, I defend an organization of Europe by combining circles States according to the skills shared. It is urgent to implement and begin to better organize the euro area.If the ECB was implementing this massive deterrence, speculation would fall and we would cease to move from crisis to crisis paydayloan.

The Germans did not they always raised an objection of inadmissibility outright the idea?

Do they have a reasonable expectation of it together without the 2 trillion dollars that would discourage speculation? Why is opposed to the expanded role of the ECB? The fear of inflation? The risk is much less in a world of globalization based on a competition that lowers prices.

Some defend the "other policy" and openly talk about protectionism. This crisis gives them she right?

On the contrary, it gives them wrong. History has decided: to maintain our role in the world, defend the ability of our business, secure our energy, we need to reduce deficits.

There are a number of agencies that assist you with fast cash loans and the same will be deposited in your bank through electronic fund transfer.

Disturbing signal. The leading indicator of the economy, the PMI fell to 46.8 points in October, against 50.2 in September, Markit Economics reported. The index, published in draft form, is passed below 50, reflecting a contraction in activity.

"The PMI data are currently consistent with a negative growth rate (of about -0.5 or -0.6%) for the third quarter," that is the beginning of a recession, worries Jack Kennedy, economist at Markit. The French government, which still formally table a growth of 1.75% in 2012, suggested Friday that it has revised downwards this goal.

The contraction in activity has particularly affected the service sector. He has recorded its sharpest fall for 27 months, 46 points, against 51.5 in September. The industry is not much better.Despite a slight improvement, she underwent her third consecutive month of decline, to 49 points against 48.2 the previous month.

"The impact of European debt crisis may be felt on the real economy," says Jack Kennedy. Markit Economics and recorded "a further decline in confidence in the services sector." "The growing uncertainty surrounding the evolution of the economy leads in fact companies to revise downward its business prospects to twelve months, the optimism of the service providers also display its lowest level since April 2009" , notes the Institute for Financial Studies.

Very little sign of hope for a quick turnaround the economy, companies have seen a decline in the volume of new business, "the highest in almost two years," notes Markit Economics.Especially in services, providers are concerned about "the largest decline in new contracts since July 2009." In industry, the decline in sales is that alarm. A trend in both export and domestic market.

Slowdown in Germany

The slowdown in activity is not only France, but also German industry. For the first time in two years, the PMI for the sector fell to 48.9 points in October, against 50.3 in September. Unlike the Hexagon, however, services are able to climb out of the area's 50 points marked a growth in sales, to 52.1 points, 49.7 points against the previous month.Overall, notes Tim Moore, economist at Markit, "uncertainty about the euro area largely explain, according to the companies, investment reports and cuts in non-essential spending."

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Markets take a breather. After four sessions chained up in a row, the CAC 40 lost 0.25% to 3153.52 points. The volumes remain thin. About 2.7 billion changed hands on the great values ​​of the Paris stock exchange. Operators have benefited from the strong performance of the last day to reap a share of profits.

Lack of energy also in other major European markets, which ended in a disorganized. In London, the FTSE fell symbolically 0.06%, while in Frankfurt the Dax was up 0.30%. Of the European indices, the Euro Stoxx 50 slipped 0.50%.

Wall Street was also on the reserve. In session, the Dow fell by 0.26% and 0.35% Nasdaq clawing. Investor caution was reinforced by the expectation of several major events.In Europe and the United States.

For specialists in Barclays stock, the markets were essentially "focused on the voting Slovakia for the ratification of the European Financial Stability Fund." Slovakia is the last of 17 countries in the euro area to decide. In order for this tool, designed to help fragile countries in the euro area to work, the votes of 17 countries in the euro area is needed.

Opening of the ball results on Wall Street

Febrile, investors have minimal response to green light by the Troika, comprising the creditors of Greece, the release "early November", a new tranche of the loan in Athens, vital for the country low interest rate personal loans.

The outgoing president of the European Central Bank, Jean-Claude Trichet, also dampened investor optimism.He said that "for three weeks, things have deteriorated, the crisis has become systemic."

The launch of the quarterly earnings season in the U.S., added to the uncertainty, while the U.S. economy is idling.

As usual the aluminum giant Alcoa will open the show of these announcements after the close of Wall Street. These publications will tell more about the economic outlook of the world's largest economy, which continue to worry the markets.

Bank stocks up

In Paris, as in the rest of Europe, however, the banking sector continued its forward march.José Manuel Barroso, President of the European Commission Jose Manuel Barroso said on Wednesday that he would "proposals" concrete to the European Commission on the recapitalization of European banks.

Credit Agricole SA has gained 1.12%, BNP Paribas was up 2.96% and 5.28% Societe Generale. Operators, disoriented and obviously out of inspiration, wore special attention to the beliefs of analysts. Vallourec (-1.42%) and Aéroports de Paris (-0.85%) have seen their recommendation downgraded by JPMorgan and Essilor (-3.83%) by Morgan Stanley.

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The Louvre is just a trial balloon. Haier, the giant Chinese electronics and appliances, a partner in the last Asian Film Festival in Deauville, is found now official sponsor of the exhibition "The Forbidden City in the Louvre," while the group Fosun, active in the steel industry, mining, property development, distribution and services, financed the catalog.

"This is the first time that we sponsor an event abroad. Traditionally Chinese companies involved in the financing of aid to natural disasters, earthquakes or floods. They argue that very few art events. But we made several acquisitions in Europe and you want to get closer, "says Jane Zhang, director of brand and strategy Fosun.

This, indeed, holds 9.5% of Club Mediterranean.It has also invested in a chain of jewelry and fashion accessories in Greece. Haier, meanwhile, set up last year, the seat of his European office in Paris. For one as for the other, cultural patronage that they are discovering can be a powerful tool to better integrate. But the payments remain a state secret.

Open the Forbidden City

As many as 350,000 Chinese visited the Louvre last year. The country is now the fifth largest foreign tourists to the museum, behind the United States, Brazil, Italy and Russia. So Wan Jie, head of Artron, specializing in printing, which was not 50 years, is very interested in the Young Patrons Circle of the Louvre.All they need to pay 2,000 euros per year if they are under 40 years beyond 5000 to be included, says Christophe Monin, head of development and sponsorship of the museum.

"The demand from wealthy individual to the corporate philanthropy is very strong in Asia, but their goal is to first do something for their country," says Nathalie Sauvanet, BNP Paribas. In its own way, Chen Dongsheng, president of Taikang Life Insurance, is a pioneer in China. He is a founding member of the China Social Entrepreneur Foundation and one of the best friends of the owner of Fosun, Guo Guangchang. He believes that "companies need to focus on modern culture."

It is also believed that Wang Yamin, deputy director of the Museum of the Forbidden City in Beijing. It does not hide it, the Louvre gives him ideas. The palace is full of treasures that can not hardly watch the public.They are crammed into the reserves of the City. If he succeeded in attracting Chinese businesses, it could more easily escape by appealing to the state. The tourists would stay longer when on the site. "The Forbidden City needs to develop cooperation with private companies," he pleads.

Christophe Monin, for whom "patronage is essential today," just waiting to help. But in the meantime, the Louvre would like to create a Chinese version of its multimedia guide … he hopes to be financed by entrepreneurs from the Middle Kingdom.

The salvation of the euro area could come from China. Forced to borrow at prohibitive rates Monday morning, Rome had in fact asked Beijing to make significant repurchases of its sovereign debt, reports the Financial Times. A member of the Italian government confirmed on Monday the existence of discussions with the Middle Kingdom on potential investments in Beijing in the third largest economy in the euro area. The latter emphasizes, however, that the purchase of debt as of the Italian state was not central to the negotiations which took place several weeks ago, the agency Bloomberg.

The Financial Times for its part indicated that Lou Jiwei, the chairman of China Investment Corp (CIC), accompanied by a delegation, arrived in Rome last week to meet with Finance Minister Giulio Tremonti, and officials the Cassa despositi e Prestiti.

In any case, the information had an immediate impact on equity markets and bonds. The news triggered a rapid rise of U.S. indexes, which ended the session up when they were, like all European markets, a sharp decline shortly before the information.L all the indices of world is indeed suspended at the least information related to the status of sovereign debt in the euro area. In fact, the fear of contagion shook the Greek market.

In addition, the bond market has also relaxed.Good news for countries forced to place their debt securities, especially Italy. Interest rates have soared Monday in an issuance of public debt in Italy. Rome has indeed placed a total of 11.5 billion euros of shares, including 7.5 billion of bonds a year at a rate of 4.153% against 2.959% in the previous similar exercise conducted on August 10.

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After a slight improvement in June, the French trade deficit is growing again. In July, he approached his record in May, to 6.46 billion euros related Customs. The cumulative deficit of the past 12 months amounted to 67.2 billion euros, against 51.66 billion in 2010. Imports rebounded after declining in June, while exports, they, are progressing very slowly.

The foreign sales amounted to 34.76 billion euros, up from just 100 million euros a month. "The strong sales of intermediate goods and automotive (…) is in fact largely offset by significant declines in aeronautics (sales and production programs for Airbus)," note Customs. The Airbus sales were $ 1.18 billion in July, after 2 billion in June. These figures are very volatile and depend on the delivery of the industry.In terms of client countries, exports to the EU declined, but remain dynamic to America no teletrek payday advance. They pack down to Asia and the Middle East.

Imports have increased their share of over one billion euros in July, reaching 41.22 billion euros. Much of this figure is driven by purchases of oil and gas products, that is to say the energy bill. But "a return to the trend of supply aircraft (Airbus program)" boosted purchases of transportation equipment, within Customs. A trend that explains the same time heavy imports from Germany, rebound largely due to imports of parts for Airbus. This is accompanied, however, "an increase in purchasing automobiles, chemicals and industrial machinery, 'the Customs.

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Safran, currently listed on the SBF 120, will make its debut on the CAC 40 on 19 September. The industrial and technology group, owned 30% by the state and 16% by its employees, replaces the bank Natixis in the most important indicator of the Paris Bourse. The announcement of the decision of the scientific evidence that fell Friday night to enter into force on September 16 at closing. The CAC 40 has not seen changes since September 2010, when Dexia (bank) and Lagardère (media) had been replaced by Natixis and Publicis (advertising).

The case for an entry Safran are numerous. The group was first sold 6.5 million treasury shares on the market late in July to increase its free float to more than 50%. Or the size of free float is one of the most important criteria observed by the Board for an introduction to the Cac 40.Capitalization criteria equally crucial $ 11.6 billion. Finally, the performance of the title are not negligible. The stock has gained more than 14% since August 26, while the SBF 120 index has returned just 5.6%. Since the beginning of the year, it grew by 5.4% when the SBF 120 index lost more than 12%. "There is a large consensus on this value. Safran is a great candidate, "pointed out shortly before the decision Emmanuel Besson, manager at Equity Management Ofi AM.

Suez Environnement does not leave the Cac 40

Suez Environnement was on the spot. The company, owned 35.8% by GDF-Suez and 7.2% by Groupe Bruxelles Lambert, certainly has a free float above 50% but its market capitalization of 5.88 billion, is among the lowest in the four Cac 40, with STMicroelectronics, Accor and Peugeot.In addition, the title was severely punished by investors: it shows a loss of 17.6% since the beginning of July, in line with the losses of the CAC (18% over the period).

But it Natixis, which has been designated to leave the Cac 40. It must be said that banking stocks have suffered heavily in recent weeks. The title is back in the index only a year ago and this decision "could create additional pressure on the banking at a time when we seek to appease," said Emmanuel Besson.

Before the verdict, Safran fell by 2.77% to 27.05 euros at the close, in a market down 3.59%. In turn, Natixis lost 4.57% to 2.71 euros.

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The Asian market does not yield to panic. After closing up slightly Wednesday, several Asian stock markets are divided down Thursday, but less pronounced than Wall Street and in Europe the day before. In Tokyo, the Nikkei ended down 0.63% to 8981.94 points after hitting a low of 8832.42 points.

Of the places in China, Hong Kong the Hang Seng 1.45% yield while the composite index of Shanghai Stock Exchange rose 0.68% to 1134.65 points. In Seoul, the Kospi index is left in the green, up 0.71% to 1819.14 points after plunging by 4% in early trade. The Stock Exchange of Sydney, in turn, close to equilibrium after a session spent in the red.

Investors remain concerned, however, fearing another recession in the United States and a spillover of the crisis of debt in the eurozone one hour payday loan.The gold and reached new records, crossing first the maximum 1800 dollars. It was worth 1814.50 dollars in the morning before going down to 1785 dollars. Another safe haven, the yen appreciates, and is worth 76.63 dollars, against 76.83 the previous day.

Oil also set off again down in Asia. Yet he had resisted the panic the day before with the announcement of a dramatic and unexpected decline in crude inventories in the United States. In morning trading, a barrel of "light sweet crude" lost 79 cents to 82.10 dollars and that of Brent North Sea fell by 1.10 dollars to 105.58 dollars.

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While the ongoing wrangle with Casino in Brazil has shifted in favor of its competitor, Carrefour has released Wednesday a turnover in line with expectations. Group sales in the first half amounted to 44.6 billion euros, up 2.7% at current exchange rates (+ 2.5% at constant exchange rates) and 0.1% in comparable excluding petrol, adjusted for the calendar effect. Sales for the second quarter amounted to 22.4 billion euros, up 1.6% at current exchange rates, but down 0.2% on a comparable basis, excluding petrol and excluding the calendar effect .

While the group had mid-June, revised down its operating income to 35% in France, it now expects a decline of 23%, due "mainly to France."Lars Olofsson said that "Carrefour has set up an action plan in order to achieve the target set by the Group to grow its sales and EBIT in 2011."

Uneven performance in France

In France, the performance is mixed. Lars Olofsson deplores a "unsatisfactory performance of hypermarkets," whose sales are down 3.3% excluding petrol in the second quarter and adjusted for the calendar effect, after falling 1% in the first quarter.

However, Carrefour welcomes the performance of its stores. Carrefour Market and saw its sales grow by 1.3%. As for Carrefour Planet, "the four stores models continue to show sales growth in double digits."In Asia, growth remained at 5.3%, with an increase of 8.3% in China.

In exchange, Carrefour began declining after the announcement of these results. After losing 3% on opening, the title was eventually closed up 1.52% to 22.325 euros in the last trade. The CAC finished up 0.51%

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Carlos Tavares, the new number two at Renault is expected today at Flins, near Paris. He must find the right words to explain the delay in the electric battery plant must be built, but the entry into operation was shifted to 2014. Originally, it was Carlos Ghosn, the CEO, who was to make the journey to take stock of an experiment on electric vehicles. But the iconic boss has canceled his visit.

To justify the delay of the project, the group had originally referred to "technical problems" before last week to discuss the "complexity of the legal and financial" project cheap pay day loans. It seems that the Japanese NEC, which designs the batteries with Nissan, Renault's ally, did not see a very good eye on the proliferation of players, according to sources.The project is now simplified, since Renault has chosen to dispense with using the Strategic Investment Fund (ISF) of the State and the CEA.