The debt crisis in Europe has almost been forgotten that the U.S. also face their great difficulties on their debt. European stock markets closed sharply lower on Thursday. Paris (-3.4%, below 2900 points), Frankfurt (-3.5%) and London (-2.6%) fell sharply in the wake of Wall Street lost more than 2% at the end of the afternoon. Democrats and Republicans should agree on a plan to save 1,200 billion over ten years to hold their huge debt. But after two months of negotiations, they were still far from an agreement a few hours from the end of negotiations scheduled for Monday evening.

Congress had in effect established a commission to decide on a plan to reduce debt. Composed of twelve members of Congress – six Republicans and six Democrats – the "super-committee" was intended to relieve an abysmal debt that comes to exceed 15,000 billion (you can see it evolve in real time on the www . usdebtclock.org). The six Democrats proposed a plan for 2900 includes 1,300 billion billion tax increase, the six Republicans on the other hand opted for a plan of 2,200 billion euros, with "only" 200 billion of tax increases. Without ever reaching a consensus.

Why the lock?

This blockage occurs less than a year of presidential elections scheduled for November 2012.

Solidarity Minister Roselyne Bachelot on Wednesday presented the new contracts for seven hours to eleven recipients of RSA representatives of councils willing to experiment with this device, it was learned from the department. Departments candidates to experiment with these contracts, reserved to the people furthest from the labor market, are the Maritime Alps, Savoie, Haute-Savoie, the Vendee, the Channel, the Rhone, the Upper Rhine, the Lower Rhine, the Gold Coast, the Marne and Haute-Marne.Tuesday in Bordeaux, President Nicolas Sarkozy said that the contracts were intended to "restore dignity" to the beneficiaries of RSA.

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.

Revenues rose 0.6% to 4.65 billion euros against 4.51 billion euros expected on average by eight brokers polled by Reuters.

In August, the brewer warned that weak consumer confidence, combined with a sluggish summer, would affect earnings growth this year.He also maintained its forecast for net profit before exceptional items for 2011, saying it would be roughly consistent with the previous year.

In the third quarter, net income amounted to 525 million euros, an amount virtually unchanged from last year.

The title gained 1.24% to 0800 GMT, having reached in early trade a high of two months with an increase of 4.1%.

The Greek parliament adopted Thursday night by items, with the only voice of the majority Socialist, the new law austerity contested by the opposition and on the street by the unions. The Prime Minister, George Papandreou, welcomed the vote in a letter read by the Speaker of Parliament, and announced the deregistration of one Socialist MP and former Labour Minister Louka Katseli, which marked its difference by voting every items except 37, the freezing collevtives sectoral conventions.

At the request of the opposition, a registered ballot was held about twenty articles of the law's most controversial, or in addition to Article 37, those providing for new wage cuts and layoffs in the placement of some 30,000 people in the public sector. All members of the opposition present, 144 out of 146 voted against the second day of a general strike against these measures by the unions, and massive anti-austerity rallies interspersed with incidents.

The rest of the articles was adopted by a simplified procedure following the roll call vote, while the law had already adopted "in principle" on Wednesday night. A new formal vote "throughout the text" has been postponed to a later meeting, said the Chairman. The Ministry of Finance said earlier that it was only a formality.

The adoption of this law, required by the creditors of the country, European Union and International Monetary Fund fell "national responsibility", so that the country "avoid bankruptcy" by receiving a new tranche of international loans, said M . Papandreou. He also found that the country gained in strength and to negotiate in the EU and the euro area for a resolution of the problem of its indebtedness.

"We need better regulation and better capitalization of banks," he said.

"Everyone will not like this, but it is the best way there is no escalation of the crisis caused by a collapse of the banking system."

"The cause of this crisis is too much debt, but we must fight the danger of contagion. We must simply recognize that banks currently have more trust towards each other, so the market Banking is not working as it should.The best way to combat this is a better recapitalization. "

The number of building permits issued for housing shows a parallel increase of 10.5% over the last 12 months to 490,620 and an increase of 10.6% over June to August, to 133,169.

"Over the past twelve months, new construction, representing over 87% of homes, rose 9.8% over the previous twelve months," the ministry said in a statement.

In the non-residential housing starts were up 7.3% over the past year to 25.35 million square meters, and 26.2% for the three months to 6.18 million m2.

Building permits granted for industrial or commercial premises are up 7.2% over the last 12 months to 36.22 million m2, and 2.8% over three months to 8.95 million m2.

Citing unnamed sources close to banking and the Elysee, the Sunday newspaper added that this proposal was made at a meeting on September 11, between the Director of Treasury and leaders of BNP Paribas, Societe Generale, Credit Agricole, People's Bank, Savings Bank, and Credit Mutuel.

Approached by Reuters, the Treasury has made no immediate comment. The governor of the Banque de France, Christian Noyer, assures him in an interview with JDD that "there is no plan.And besides we do not need. "

He emphasized that "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 place, "a statement which does not seem inconsistent with the alleged proposal of the French authorities cited by the JDD.

According to the JDD, "the state has offered to support French banks in the same way in 2008.""The pattern was to inject this time between 10 and 15 billion euros of public money to strengthen their capital base."

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

Societe Generale, whose share price tumbled, accepted this solution provided all the French banks involved but "BNP Paribas declined to be supportive, burying the project immediately," the JDD.

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

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).

Heads of Mission of the troika of creditors will return to Athens, Greece "in early next week" to complete talks for the release of the next tranche of loans to the country, said Tuesday the Department of Finance at the end a teleconference between representatives and the Minister.This conference gave rise "to a satisfactory progress" in negotiations, said a ministry statement, stating that the minister, Evangelos Venizelos, will also continue its discussions with donors in the country "this weekend in Washington at the annual meeting of the IMF. "

These negotiations are intended to avoid a default on Greece in need of loan from the euro area and the International Monetary Fund to cover its financing needs from the end of October. In Brussels, the European Commission made from advanced, indicating that negotiations were possible to find common ground and confirming the return of the troika. During the conference, following a first round Monday, "Good progress has been made," the Commission ruled in a statement.Technical discussions will continue over the next few days in Athens, she added, as also the statement of the Greek Ministry.

Of these negotiations depends on the payment in October – vital for Greece – the sixth round of eight billion euros of the loan in May 2010 in the euro area country and the IMF. A source of the Greek Ministry of Finance, negotiations Tuesday were to endorse the measures agreed between Greece and its creditors to achieve the planned budget savings and accelerate structural reforms that Athens has promised to perform in exchange for his rescue bankruptcy.

The European Commission has not confirmed this information and did not provide details in a statement. The department has for its part not mentioned in either agreement.A cabinet was nevertheless restricted announced Wednesday morning that the Greek media are waiting for a green light to launch the measures agreed with creditors, centered on the compression of the public sector.

Greek Prime Minister George Papandreou would explore the possibility to consult the public in a referendum on how best to tackle the debt crisis, or remaining in the euro area, either by abandoning the single currency, a Greek daily said Tuesday.The Prime Minister would be based on a favorable outcome for the euro to continue its drastic austerity policies applied at the request of the creditors of the country, the euro area and the International Monetary Fund (IMF), the daily Kathimerini said, Citing "sources" unidentified.

A text of the bill was under development, understands the everyday., No confirmation could be obtained from official sources on Tuesday morning. The Greek Ministry of Finance on Tuesday denied that information. "It makes no sense," said a source at the Ministry of Finance told AFP. Given the scale of protests in Greece last spring, Mr.Papandreou announced June 19 the holding of a referendum in the fall to concentrate on "the great changes that the government aims for the country", including political reforms as the functioning of parliament, the electoral system as well as an overhaul of the judicial system.

According to opinion polls, the Greeks have lost confidence in their political and judicial system, which has never been able to stem the endemic corruption in the country. The information on a proposed referendum on the euro are published at the time the Minister of Finance negotiates fiercely with the troika of the country's creditors seeking the implementation of austerity measures decided in July (fewer staff, reducing public expenditure) before paying the next $ 8 billion euros of the loan in May 2010 to avoid bankruptcy the country.