The price of a liter of unleaded 95 euro climbed to 1.5640, while that of 98 unleaded rose to 1.6022 euro. This surge is due to tensions in Iran and the decline of the euro.
The price of gasoline at the pump hit new highs Friday in France, according to data released Tuesday by the Ministry of Sustainable Development, those of diesel playing in contrast to the decline. The price of a liter of unleaded 95 euro climbed to 1.5640, while that of unleaded 98 (whose sales are much lower in SP95) rose to 1.6022 euro, surpassing both levels records they had met in January, according to figures compiled by the Directorate General for Energy and Climate (EDCM).
However, diesel is still trending down, to 1.3960 euro per liter last week against a peak of 1.4240 in mid-January, and well below its spring 2008 record (1.4541 euro ). These are national averages calculated by the DGEC from data provided by service stations.
This surge is linked to two phenomena, geopolitical tensions (Iran, Nigeria …) that keep crude oil prices at very high levels, and weakening of the euro against the dollar, which increases the cost of black gold imported into France, once its price converted into the single currency. Diesel sales represent about 80% of French consumption of motor fuels, the unleaded 95 just under 15% and unleaded approximately 98% 5.
When it comes to quick payday loans, there is really nothing to worry about in terms of applying and being approved, you just need to make sure that you have the resources and budget in place to be able to repay the
instant cash advance within the time period.
The French car market fell by 20.7% in January, falling to its lowest level for 14 years, the disappearance of the last scrappage sluggish economy and the sign for the sector a difficult first half. According to figures released Wednesday by the Committee of French Automobile Manufacturers (CCFA), registrations in the Hexagon emerged last month at 147,143 units, almost 39,000 less that 'in January 2011. "This is a lowest since 1998. The bad controls are not in December registrations in January (…) The first half would be difficult," said Francois Roudier Wednesday , spokesman for the CCFA. Sales of light trucks fared better, but nevertheless signed the first decline for several months with a 2.5% decline in gross (-7% on CJO) to ; 32,707 units. "This is one more indicator of the economic context, an additional amber light came on," said Flavien Neuvy, Director of the Cetelem of the car. "The trend is bad for sales to individuals, but the climate gradient will also weigh on sales to companies," he added. Around 24:30, the values are still car oriented upward, catching up after several sessions of declines. The European index sector is 2.6%, 2.1% Volkswagen, PSA and Renault 2.9% 3.4%. VERY GOOD MONTH FOR VOLKSWAGEN AND NISSAN The CCFA said that the builders who have benefited from the scrappage scheme have had their registrations plummeted. In addition, the prospect of the release of new models during the years attracted the attention of future customers, it adds. Car sales of PSA Peugeot Citroen last month fell 27.4%, while those of the Renault group tumbled 32.7% (-36.9% for the diamond brand and -10.5% for the low cost brand Dacia). In a statement, Renault blamed the decline in the ongoing renewal of its range, including the arrival of the Clio 4 in the fall. The Group nevertheless confirmed its target of a French market share close to 26.1% in 2011. Next PSA, Peugeot has also continued to be affected by pending the arrival of the 208, scheduled for spring. Other general, the Fiat brand saw its sales in France dropped by 40.9%. In contrast, German Volkswagen still has shot out of the game: Group registrations increased by 18.2%, and the only VW to 26.8% with a wide offensive in terms of products and prices. Nissan's partner Renault, meanwhile saw its sales under its own brand to increase by 19%, which allowed him to exceed the month Opel (GM group) by volume. Sign that sales may remain low for at least several months, PSA Peugeot Citroen announced Tuesday that production would be stopped a week at Mulhouse and Sochaux early March to "adapt the stocks at the request commercial ". Both sites, however, produce some best-sellers like the Peugeot 308 and 3008 and the Citroën C4 and DS4. PSA and Renault have said in recent weeks to expect a difficult environment in 2012. They expect a decline of at least 3% of the European market this year and down 5 to 8% of the French market.
The Swiss government said Wednesday it has chosen to renew its fighter fleet with 22 copies of the Saab Gripen of Sweden, preferred to Dassault Aviation's Rafale and the Eurofighter consortium which includes the European EADS.
Switzerland was launched three years ago the tender for the renewal of its fleet, now consisting of F-5E / F Tiger built by the American Northrop, whose older copies have been flying since 1976.
She originally planned to order up to 33 devices.
The Tokyo Stock Exchange ended slightly higher Friday, recovering from the fall of the day in favor of positions suggesting investors anticipate the possibility of a rebound despite the persistence of the debt crisis in Europe
The Nikkei gained 0.16% or 13.67 points to 8,514.47 while the Topix, larger yielded 1.17 points (-0.16%) to 729.13.
On the whole a week marked by a deepening debt crisis with the record level by the Italian sovereign bond yield, the two indices lost 3.3% and 3%.
Title Olympus finished down 4.96% to 460 yen after a volatile session.
Former European Commissioner Mario Monti was the favorite Thursday to succeed Silvio Berlusconi as head of the Italian government and try to counter the surge in borrowing costs in the country, another who briefly relieved the European stock exchanges.
The Economist, 68, former European Commissioner and now president of Bocconi University in Milan, is seen for weeks by the markets as the best candidate to lead a government of national unity and implementation of emergency austerity measures needed to redress the accounts of the country.The Paris Bourse was almost in equilibrium, Frankfurt advanced 0.5% and London gave up 0.45%.
Discussions in the PDL
Italian President Giorgio Napolitano has appointed Mario Monti senator for life Wednesday. Investors saw this as a sign that he would ask him to try to form a government from the start of Silvio Berlusconi, expected in the coming days.
And as the cost of borrowing to ten years in Italy continue to grow beyond 7%, a level deemed unsustainable by many, the assumption of a unity government seems to be gaining ground in the PDL.
"The LDP can not simply follow the call to the polls that emanates from the core," said Foreign Minister Franco Frattini in an interview with Corriere della Sera.
The payment of a new tranche of eight billion euros to Greece was approved Friday by the finance ministers of the euro area, which, however, have found their remaining differences on the reform of the support fund euro and put their decisions on this issue later.
Meeting in Brussels, they also discussed at length the contours of the new rescue plan for Greece and the participation of banks capable of reducing the Greek debt to sustainable levels.
A report prepared by the "troika" – IMF, ECB and European Commission – representing the international donors, a 50% discount on Greek bonds held by private investors is necessary to reduce the debt to 120% of GDP against 162% today.
If it was intended to reduce debt below 110%, a discount of 60% would be necessary, the report says, as a basis for decisions of Heads of State and Government of the euro area summits on Sunday and Wednesday.
The outcome of these meetings, which should lead to a new Greek plan, a formula to maximize the funds to support the euro area and a wide recapitalization of banks on the continent, is considered crucial for the single currency.
"We decided to authorize the payment of the next tranche of financial assistance to Greece in the context of the current program of economic adjustment.The disbursements must be made in the first half of November, once approved by the International Monetary Fund, "said the finance ministers of the euro area in a statement.
Athens immediately welcomed the European decision, saying it was "a positive step."
The decision "provides the fiscal targets in 2012 and paves the way for necessary structural reforms," said Greek finance minister, Evangelos Venizelos, in a statement.
CONTINUATION OF DISCUSSION ON EFSF
According to several sources, the Europeans, however, remain largely divided on the level of the discount to be applied to Greek bonds as well as the voluntary and non-bank participation.
The German authorities, in particular Finance Minister Wolfgang Schäuble, insist that the envelope of 50 billion euros negotiated on July 21 is significantly revised upwards, if necessary by forcing banks to make an extra effort.
Paris is reluctant for fear of triggering a credit event with unpredictable consequences.
The ministers, however, only discussed the various options available to "maximize" the firepower of the EFSF, which also divides Paris and Berlin.
The Minister of Economy, Baroin said that France continued to believe that the conversion of cash in bank was the best solution but it did not make "one final point of confrontation."
"What counts is what works.And what works is what will go towards deterrence and effective firewall and it is around this that we try to work, "said the Minister after the meeting.
Granted a banking license in EFSF would allow access to funding from the European Central Bank to increase its capacity for action by a factor of up to five.
But Berlin rejects this possibility, which would be to accept that the institution of Frankfurt finance the countries of the euro area, one of the dogmas explicitly excluded by the European treaties.
The other members of the euro area are also divided, Belgium and Spain having voted for a reconciliation BCE-EFSF while Slovakia and Austria have indicated that this solution was not studied.
The countdown has started, however, for not only the peaks of Sunday and Wednesday but above the summit of Heads of State and Government of the G20 in Cannes in early November.
Thursday night, U.S. President Barack Obama spoke on the economic situation in Europe with his French counterpart Nicolas Sarkozy, German Chancellor Angela Merkel and British Prime Minister David Cameron.
Belgium, France and Luxembourg have Monday morning launched the plan to dismantle the Franco-Belgian bank Dexia, the first European victim size of the debt crisis in the euro zone, after a day and a night of marathon negotiations.
At the end of a board of about noon, the directors of the former world number one funding of local authorities have approved the nationalization of Belgium Belgian activities of Dexia, Dexia Bank Belgium (DBB) specializing in retail banking.
Belgium will pay to do this four billion euros.
"This sale will be finalized shortly," advised the bank."It will enable Dexia to reduce its need for short-term financing of over 14 billion euros, will improve the solvency of the group of more than 200 basis points and reduce its portfolio of non-strategic assets of 18 billion euros. "
Matignon has in turn made in a statement that France would lean financing activities of French local authorities of Dexia Municipal Agency (DexMA), French securitization structure owned by Dexia Credit Local, the Caisse des Depots (CDC).
A consortium of funding for French local authorities will also be created and established by the CDC and the Postal Bank, also indicate the services of the French Prime Minister Francois Fillon.
As part of the new rescue plan for Dexia, already saved from bankruptcy in 2008 with a public bailout of more than six billion euros, Belgium, France and Luxembourg have signed to provide 90 billion euros government guarantees to ensure the financing needs of Dexia.
NOT FOREVER IN DBB
"States have agreed to divide this guarantee in proportions similar to those of 2008, 60.5% for Belgium, 36.5% for France and 3% for Luxembourg," reported Matignon.
Belgian Prime Minister Yves Leterme said at a news conference that Dexia would immediately pay a premium of 50 basis points in return for these guarantees.
The Belgian Finance Minister Didier Reynders said in that same press conference that the Belgian state, however, did not intend to stay forever in the capital of DBB.
Sunday morning before the meeting of a special board of Dexia, the French Prime Minister Francois Fillon met with his Belgian counterpart in Brussels and the Luxembourg Finance Minister, Luc Frieden, to find a agreement on modalities and participation of all three states.
"The three governments agreed to submit a proposal to the board that fits perfectly with the objectives of the Belgian Government, which involves taking control of Dexia Bank Belgium, secure and make it a bank very safe," he Yves Leterme said Sunday on Belgian television.?
The challenge for the three states participating in the plan was to ensure that aid does not come to Dexia worsen the situation of public finances.
The rating agency Moody's had also increased pressure on the Belgian camp Friday night: it has placed the sovereign rating of Aa1 kingdom under surveillance by explaining, among other things, will assess the costs and liabilities that the state could take Dexia in supporting.(See)
Didier Reynders has reported on this during the press conference that the debt / gross domestic product (GDP) of Belgium would remain below 100% despite the agreement of Dexia and said that the European authorities of the competition had been informed of the plan.
Dexia, the rating action has been suspended since Thursday, is at 9 am press conference to present the plan to dismantle the bank as it was approved by the directors.
Difficult decisions must be taken to avoid non-payment of debt interest and keep Greece in the euro area, said Sunday the Greek finance minister, Evangelos Venizelos, after a cabinet meeting.
"We must fully meet the fiscal targets for 2011 and 2012," he told reporters.
Government members have spent their device review on the eve of a conference call with the inspectors of the European Union and the International Monetary Fund (IMF) and will meet again then he said without disclosing further measures austerity.
Wall Street opened up Friday, contrary to what foreshadowed the future, which indicated a first down and then open with little variation.
Some thought that profit-taking would arise from the opening given the gains accumulated in four sessions. If the opening movement continues, the S & P 500 is on track louse save his best week since early July.
For now, he earns 0.5% to 1215.33. The Dow Jones ahead by 0.5% to 11,488.73. The Nasdaq Composite Index is 0.3% to 2615.08.
Fellows prepare for the publication of the index of consumer confidence published by the University of Michigan. It is intended to 56.5 against 55.7 in August.
Boeing gained 1% to 64.98 dollars.Air France-KLM announced plan to order 110 aircraft divided equally between Airbus and the American manufacturer.
Yahoo takes 1.5% to 15.11 dollars. According to the media, the private equity fund Silver Lake is considering an offer.
Increase in VAT on theme parks, removal of reliefs on capital gains immobiliaires, higher taxes on mutual health … The anti-deficit in 2011 are discussed starting Tuesday in the Assembly. The key points of a heated debate.
One billion euros. This is the amount of additional tax revenue for 2011 that the government is seeking at the extraordinary parliamentary session that opens Tuesday. MPs must rule on the immediate implementation of five measures forming part of the austerity plan announced there ten days by François Fillon. Knowing that all of this will be discussed in the fall during the budget debate in 2012 with the goal to bring 12 billion euros. However, these emergency measures are far from unanimous, even among the majority.State of Play.
Stay for abatements on real estate gains?
One of the most important steps is one of the most contested. The government intends to eliminate deductions on real estate gains (excluding primary residence) for any sale agreement signed after August 25. Knowing that the current system reduces the taxable gain on resale of 10% per year from five years in prison. This opens the way for a full exemption after 15 years. The removal of this niche could yield 200 million in 2011 and 2.2 billion euros in 2012.
Problem, if not convicted on the bottom on the left, it is hotly contested within the ranks of the majority."The government is open to criticism and amendments, provided they do not involve the amount of effort or their balance," said François Fillon at the close of the summer university of the UMP party this weekend. Jean-Pierre Raffarin, however, already announced the abandonment of the measure, after a meeting with Nicolas Sarkozy.
A tax on Luxury Hotels?
This would be to find a way to offset the 90 million savings that would bring the increase. Gilles Carrez considering a tax on room rates at luxury hotels. "Politically, it's interesting," admits a source member. The measure would involve the wealthiest, while a tax on theme parks to be targeted to benefit the middle class. But industry lobbyists are already lashing out at the proposal, supported in this by the minister of tourism.This tax "would be a blow to the competitiveness of French tourism," he told Le Figaro said Frédéric Lefebvre fear that the net worth be tempted to go "to other capitals cheaper."
A measure that sickens mutual
The plan discussed Tuesday also plans to increase from 3.5% to 7% special tax on insurance agreements "caring and responsible." Or most of the contracts offered by mutuals. The measure could yield 100 million in 2011 and $ 1.1 billion in 2012. But it suffers, too, the fire of criticism, the opposition is doing this over from another. "The government did not want to touch the heart of its policy, but he has not forgotten detaxerles middle and working classes", then "it is already becoming increasingly difficult to treat" was criticized in Martine Aubry reaction."
This calls into question deeply the objectives of access to care and control advocated by the French Mutuality. (…) The taxes on health insurance organizations additional (…) were multiplied by twenty "protested the president of the French Mutuality, Etienne Caniard, in a letter to Nicolas Sarkozy.
Two taxes more consensual
This is the increase of 12.3% to 13.5% of payroll taxes on capital income (200 million gain in 2011, 1.3 billion in 2012) and harmonization of the report of deficits in taxes on companies with the rules in force in Germany (500 million and $ 1.1 billion.)
