A party official who declined to be identified said the postponement was due to the fact that the leaders of the three features had not yet received the text of the draft agreement on this bailout of 130 billion euros.

While demonstrators gathered in Athens burned the German flag, Chancellor Angela Merkel tried to ease tensions. "I will do nothing to force Greece out of Euro", she assured, responding to a Greek student in a meeting with young people in Berlin.

His Dutch counterpart Mark Rutte has however not ruled out such an output. "The rest of the euro area is now strong enough (…) so we can deal with an output of Greece, a Greece faces serious problems," he said ;.

A half an hour of their meeting, scheduled at 19:00 GMT, the leaders of the Socialist Party, New Democracy (right) and Laos (far right) who support the government of Lucas Papadé ; mos still had not received the draft agreement with the IMF and the European Union.

"We can not say yes or no frank without assurances from the competent authorities of the State that these measures are constitutional and that the country will emerge from the crisis," said George Karatzaferis, leader of Laos. "We have time. Since it is about the future of the state, we find the time, "he said

To avoid being insolvent in late March, Athens has been negotiating for months with the troika (International Monetary Fund, European Union and European Central Bank) the granting of the second aid tranche

. Negotiations between Lucas Papademos and donors took almost all night from Monday to Tuesday, until 04:00 (2:00 GMT), right at the start the first walkouts in ports. "No ship left the port of Piraeus this morning, due to the strike of seamen," said a spokesman for the coastguard.

The movement was launched at the call of the main unions, GSEE (private) and ADEDY (public), to denounce a policy which, they say, threatens to lead the country in a destructive spiral.

The Acropolis was closed to tourists, public transport was disrupted during rush hours, hospital staff is minimized. Teachers, employees of banks or telecommunications plan to join the movement.

Scuffles broke out between Syntagma Square police and demonstrators who tried to climb the steps leading to parliament chanting "No to the medieval working conditions, do not give head , resist ".

Participation seemed a little weaker than in previous rallies in recent months, the rain had apparently been due to the desire of some protesters.

"They (the government) were saved by the rain. The weather did not allow the protesters to take to the streets and show their anger, "he told Reuters Ilias Iliopoulos, general secretary of public sector union, ADEDY

. "FINDING A SOLUTION"

Lucas Papademos, Vice-old President of the European Central Bank (ECB), must now convince the leaders of three parties in the diverse coalition that supports it to accept the conditions imposed by the EU and the IMF ..

……. "We must find a solution today," said a government official before the meeting between parties …….

.. The Greek finance minister, Evangelos Venizelos, has meanwhile said the talks between his government and the "troika" – Lender EU, IMF, ECB – were difficult. 

"Unfortunately, the negotiations are so difficult that when a chapter is closed, another opens," he said Monday night.

Tuesday, a source close to the talks we had yet reported progress in discussions. "Our positions are not as far apart as before," said, adding that both sides were working on the contours of the political program that Athens will apply to enter the second plan help.

After weeks of dealings, several important questions have still not been resolved.

COST OF WORK

Greece has yet to find 600 million euros in savings for the current year, a total of 3.3 billion, said a government official.

Troika also requires that the cost of labor in the private sector is reduced by about one fifth. It proposes to do this by lowering the minimum wage by 20% – which would affect the entire pay scale – by eliminating premiums paid leave or certain sectoral wage agreements.

Europe seeks new austerity is accepted by the Greek government coalition and approved by the Troika before February 15, time to settle then the procedures complex techniques involved in an agreement between Athens and its private creditors on a debt exchange.

The EU hopes to avoid a default "disorderly" of Greece, which must be repaid in March 14.5 billion euros of bonds maturing . 

The President of the Eurogroup, Jean-Claude Juncker, said Tuesday he had no doubt on the future of Greece in the euro area, provided that the country meets its obligations vis-à-vis other members of the single currency.

French President Nicolas Sarkozy said it was to settle the Greek crisis "once and for all," Chancellor Angela Merkel saying that his side " time is running out for Athens. "

The two leaders were speaking at a joint press conference at the Elysee while the "troika" comprising the European Union, IMF and the Bank of Central Europe ; enemies is waiting for government commitments and major Greek parties on the vote of these measures. 

The European Commission ruled that the Greek government had missed the deadline to Monday midday to conclude discussions on the subject.

A Greek official said the only deadline is a Eurogroup meeting, but no date is fixed for the meeting, which should however take place this week.

Meanwhile, an agreement between Greece and its private creditors, announced as imminent for two weeks, slow to materialize.

The three parties supporting the government led by Lucas Papademos reluctant to finally commit to austerity measures. Supposed to agree Sunday night and Monday morning, they finally postponed their meeting Tuesday.

BLOCKED ACCOUNT

The news release announcing the postponement, issued shortly after the press conference in Paris by Nicolas Sarkozy and Angela Merkel, no explanation, saying only that Lucas Papademos will further talks Monday with representatives of the Troika.

The leaders of the Socialist Party (PASOK), the conservative party New Democracy and Laos (far right), all vying for the parliamentary elections due in April, are expected to find a compromise on such difficult issues as the reform of the labor market or bank recapitalization. 

Sunday, after five hours of discussion, Lucas Papademos said that party leaders had agreed on a number of measures, including wage cuts, as part a plan to cut spending 1.5% of gross domestic product.

According to an official policy, the three parties have postponed their meeting because they had not received a 15-page summary of the conclusions of discussions Sunday.

The slow pace of negotiations in Athens has eroded the patience of donors, although agreement is essential to avoid a default on Athens 14.5 billion euros debt maturing in March. 

Merkel said she could not conceive of new aid plan "if there is no agreement with the troika."

"The parameters of the regulations are on the table," said Nicolas Sarkozy, in holding that an agreement had "never been closer" and he could not imagine a failure .

The French president on the other hand proposed, with the consent of the German Chancellor, the blocking of an account of a portion of future assistance under the new plan to the tune of interests of the Greek debt remaining to guarantee their repayment to creditors. 

CALL FOR STRIKE Tuesday

The hope of progress in terms of the recapitalization of banks, which would avoid nationalization, Monday favored the increase of these values ​​to the Athens Stock Exchange: Towards 1600 GMT, the local index banks posted a gain of nearly 11%.

But the silence of Athens and the absence of political agreement on the conditions imposed by the troika has weighed on the major European markets: the Paris Stock Exchange closed down 0.7%, the pan-European FTSEurofirst 300 index fell 0.2%. As for the Stoxx European banking stocks, has declined 0.6%.

The euro stabilized against the dollar in parallel, at about 1.3116 against 1.3112 on Friday night.

While political discussions are extended to Athens, the country's two main unions have called for a 24-hour strike Tuesday to protest against a policy that they say threatens to drag the country into a destructive spiral.

French unions aviation, including pilots of SNPL and the main organizations of hostesses and stewards, confirmed Friday their strike call from 6 to 9 February to oppose a bill regulating the right to strike in this sector.

In addition to the pilots and flight attendants, federations FO, CFDT, UNSA and CGT have the air, after an inter-union, called the staff of companies and their service providers to mobilize. The bill "has been hardened to the Assembly and the government does not want to negotiate, the National Council of SNPL therefore confirmed the strike on Friday from 6 to 9 and decided it would be renewable, either directly after 9, or at another time, "he told AFP Yves Deshayes, national president of the SNPL, the main pilots' union, super-majority at Air France.

"At the Inter, after our board meeting, it's the same with a strike from 6 to 9, and a few different versions according to the unions," said Yves Deshayes. "The three main trade unions of PNC (flight attendants), the SNPNC, the Unac and UNSA also call from 6 to 9, "said the driver. "The strike is held from 6 to 9," also said Franck Mikula, president of the Unac (CFE-CGC) at the conclusion of the Inter.

The SNPL said that among the ground staff would go on strike and some others would be "in action via other means." "We call for the strike in all French airlines, in metropolitan and overseas territories" , said Yves Deshayes.

The world of the sector, including owner of Louis Vuitton, Moet et Chandon champagne and Christian Dior perfumes, has seen its annual sales climb 16% to 23.66 billion euros, slightly above consensus expectations Thomson Reuters I / B / E / S (23.3 billion).

The group's organic growth stood at 14% throughout 2011 and to 12% in the fourth quarter alone. However, it marks a slowdown over the last three months of the year compared to 15% increase recorded in the first nine.

The annual operating income of the group rose 22% to just over five billion euros, 5.26 billion (5.1 billion against expected) and the margin increased by 0 , 7 points to 22%.

After the Swiss Richemont (Cartier, Van Cleef & Arpels) and Britain's Burberry, LVMH therefore confirms the good health of an industry that takes advantage of the strong demand in emerging countries, the re , resistance to the U.S. market and tourist flows in Europe.

"The year 2011 was again an excellent year, as was 2010 (…) Unless a major accident and despite the difficulties in Europe, the world is growing and wants more and more products, "said Bernard Arnault, CEO of the group, with a smile of satisfaction.

"We are fortunate to have as emerging markets, but also the United States, who leave and which cause strongly all of our activities, "he said, adding that being" reasonably confident for 2012 ".

'EXCELLENT' YEAR E 2012 EXPECTED FOR VUITTON

He referred to the January sales "consistent" with those of the end of 2011 and predicted for the Louis Vuitton leather goods, the nugget, which accounts for more than half of the profits of the group, an "excellent year 2012." 

With the debt crisis in Europe and slowing U.S. growth, many analysts have revised down their forecasts organic growth of the great names in luxury for 2012.

All divisions of the group have experienced double-digit growth and significantly improved margins last year, with the exception of perfumes and cosmetics (Dior, Givenchy), more affected by the crisis in Europe.

In fashion, leather goods, Louis Vuitton has yet to sign growth "double digit", while the claws Loewe and Celine have completed the year with "beautiful results", wished to clarify Bernard Arnault. 

This division, the most profitable group with Vuitton, saw its operating income surpass the $ 3.0 billion to 3.07 billion euros, with sales reaching 8.7 billion , up 16% at constant rates.

With strong demand and tight supply, the famous monogrammed bags have also benefited from price increases "more significant" than other brands.

In wines and spirits (cognac Hennessy, Dom Perignon champagne, Ruinart and Moet & Chandon), sales increased 10% to $ 3.5 billion and the margin has been 2.5 percentage points to 31% .

Selective distribution (Sephora, DFS) was not unworthy, with a leap of 34% in sales and an improvement of one point margin to 11%. 

But the most growth pole returns to watches and jewelry (TAG Heuer, Zenith and Chaumet), which has more than doubled with the acquisition of Bulgari and has increased sales by 41% ; like basis, for a margin of 13.6%.

NO hegemony HERMÈS

About Hermes, in which LVMH continued to rise (22.3%), while the deluxe saddle has been locking his family holding company capital, Bernard Arnault has reaffirmed that the participation e silent "friendly" and that LVMH had "no desire to dominate." 

Once will not hurt, LVMH has invited in the news at a time when the debate over the "made in France" is raging in France, flying to the rescue, via one of suppliers in leather, the workshop Lejaby lingerie in Yssingeaux (Haute-Loire).

The annual net income reached 3.06 billion euros signing up to 1% but 34% excluding the unrealized gain realized on the outstanding stake in Hermes s in 2010.

With these figures, the group will offer its shareholders a dividend increase of 24% to 2.60 euros.

The title LVMH closed Thursday at 126.40 euros at the Paris Stock Exchange, rising 15.5% since early January, after falling 11.13% in 2011. 

Perceived by analysts as the value most defensive sector, largely due to the brand Louis Vuitton, she exchanged with valuation multiples of about 17 times the beneficial ; profits estimated for 2012, representing a premium of approximately 15% of the industry average off Hermes.

As pressure increases on the leaders of the eurozone to make progress on a response to the debt crisis by the European summit of December 9, Mario Draghi, speaking before the European Parliament, called for a "deepening" of the budgetary and fiscal integration.

"To me, what is needed by our economic and fiscal union is a new budget agreement – a fundamental reformulation of fiscal rules, budgetary commitments with each other that the governments of the euro area have been," Has he said.

"We might ask if a new budget agreement would be sufficient to stabilize the markets and if a credible long-term vision can be useful in the short term.

This "supplementary budget" follows the decision of France to lower, from 1.75% to 1%, the forecast growth rate for 2012.

The draft budget law for 2012, being shuttled between the two assemblies, which is considered "obsolete" by the Opposition, was indeed built on a growth forecast of 1.75%.

The OECD expects growth in its share from 0.3% in France next year."We will meet our objectives of reducing the public deficit to 5.7% of GDP in 2011 and 4.5% in 2012," assured the minister.

She also confirmed that it would table an amendment bringing three to ten years the limitation period in respect of assets held abroad.

"This new austerity plan will have the effect of crack growth and impede the deficit reduction by increasing unemployment," said Pierre-Alain Mute (PS).

DEFICIT REDUCED TO 95.3 BILLION

"It's an inconsistent policy, over the water where France would need a comprehensive policy," added the spokesman of the Socialist Group.

Faced with record unemployment of young people, with more than one million 16-24 year olds unemployed, the British government announced Friday a plan to one billion pounds (1.16 billion euros) over three years. Deputy Prime Minister Nick Clegg announced the program on the BBC Friday morning, but did not specify where the money would be collected, while the coalition government is implementing the austerity program the most severe since World War II.

"If the government cut the tax deductions available to families who work to support this new plan, it would be just incredible," he once commented Liam Byrne, in charge of Work and Pensions in Labour. The number of unemployed young Britons spent for the first time the symbolic one million end of September, in an economic climate more and more depressed. The unemployment rate for 16-24 years is 21.9%, or 1.02 million young people in search of a mployment, a record since the beginning of this statistical series in 1992.

Emabuche aids for companies

The government plans to launch in April a "contract young" over 3 years towards 410 000 18 to 24 years. 160,000 young people would benefit from a six-month contract, employers receiving a subsidy for the period of 2275 pounds, equivalent to half the minimum wage specific to young people.

Baroin do not forget Christine Lagarde, French Minister of Finance holds an unenviable 15th position in the ranking of European central bankers prepared annually by the Financial Times, while his predecessor was the star. Mr.

The U.S. government said Tuesday it has revised sharply lower growth rate of GDP of the United States in the third quarter. From July to September, the U.S. gross domestic product grew by 2.0% annualized over the previous quarter, said the Commerce Department, reviewing and down 0.5 point first growth estimate published at the end in October. According to their median forecast, analysts expected a confirmation of the first estimate of the ministry.