Leaders of the main Greek political parties have again postponed the meeting scheduled for 24 hours on Tuesday to accept the reforms demanded by donors in exchange for Athens a second aid plan.

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.

To address the unemployment history of young 21.9%, the British government decided to implement a recovery plan £ 1 billion over 3 years. The number of unemployed young Britons spent for the first time the symbolic one million end of September.

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.

The President of the Italian Republic Giorgio Napolitano charged Sunday the former European Commissioner Mario Monti to form a new government is responsible for putting in order the finances to reassure financial markets and European partners in Rome.

After the resignation of Silvio Berlusconi, left under the jeers of thousands of Romans, the head of state has mandated that as planned economics professor aged 68 to lead a cabinet should be composed mainly of technocrats.

In a brief speech a few minutes after the announcement of his appointment by the Quirinal Palace, Mario Monti has promised to conduct "with a sense of urgency but with care" consultations to establish the composition of his government.

ONE YEAR AND A HALF FOR REDRESS OF ITALY

The uncertainty of recent weeks Italy has strongly penalized in the bond markets, and Rome hopes that the arrival of Mario Monti will reassure the financial community.

"The country must become a pillar of strength, not a weak link in the European Union that we were among the founders," said the former European Commissioner for Competition.

The objective of the new government will be "to improve the financial situation and resume the path of growth in a context of increased attention to social justice," he added, saying that Italy could "overcome difficulties by a joint effort. "

"We owe it to our children," said the economist.

The Heads of State and Government of the euro area may call Wednesday the European Central Bank (ECB) to continue its purchases of bonds to support Italy and Spain, according to a draft of their summit conclusions to which the Germany, however, said not to buy in the state.

"We fully support the ECB in its actions to ensure price stability in the euro area, including its non-standard measures in a financial market currently outstanding," states that the project, which Reuters had access.

Sources of the European Union said that these "unconventional measures" referred to by the ECB purchases of bonds of countries in difficulty on the secondary market debt, purchases it took over in August to support the Spain and Italy.

Chancellor Angela Merkel reacted promptly by declaring opposition to any representation which purports to tell the ECB what to do.

"This sentence and the way it is currently in the news are not accepted by Germany," she told reporters.

Carsten Schneider, budget expert of the opposition Social Democrats (SPD) of Germany, for his part indicated that a draft motion on the multiplication of EFSF was based precisely on the assumption that the ECB will stop buying bonds on the secondary market.This motion must be filed Wednesday in the Bundestag.

The ECB buys Spanish and Italian paper in the hope of lowering their yields and reduce the cost and funding of these two countries on the market.

But investors fear that these two countries follow the path of Greece, Ireland and Portugal, all of which benefit from support schemes concocted by the EU and the International Monetary Fund.

"No misunderstanding"

The ECB has, to date, bought for 170 billion euros of debt in the euro area difficult, prevent a widening yield spreads with German debt, a move that has caused divisions within their bodies leaders.

Angela Merkel said Berlin was trying to have an ECB statement setting out its opinion on the draft communiqué of the summit.

"We want much clearer statements about what the ECB wants itself and we speak about it. We do not want a misunderstanding where policies would expect something special from the ECB," she said .

She also felt that too much speculation on the draft summit conclusions."The sentence does not include a statement that the purchases in the secondary market are possible and it just says that unconventional measures will continue," said she.

Many economists believe that the only way for the Seventeen to simultaneously protect themselves from market pressure, while regaining their trust is to the ECB and its unlimited liquidity at the heart of the rescue device in European countries too indebted.

France follows this line of thinking but Germany and the European Commission see this as a violation of the fundamental laws of Europe.

Given this impasse, the top of the euro area should suit Wednesday to leverage the capabilities of the EFSF through an insurance mechanism and a special vehicle, without involving the ECB in the process.

France and Germany have formalized their agreement on how to resolve the debt crisis in the euro area, said Friday the French Minister of Economy Baroin after meeting with his German counterpart Wolfgang Schäuble and Nicolas Sarkozy.

"We will over the coming days to continue our discussions but we already have on contractual agreements that will be very important," said Baroin referring to the stabilization of the euro area, the recapitalization of banks in Europe and "maximizing" the European Financial Stability Fund (EFSF).

Wolfgang Schäuble assured that the two countries had a "common position" and expressed confidence that they can "protect the euro area".

Nicolas Sarkozy and Angela Merkel pledged in Berlin on Sunday to respond "lasting and comprehensive peace" to the crisis in the euro area for the G20 summit scheduled for early November in Cannes, which will include a recapitalization of European banks.

The French president was then assured that the compromise between the two countries on how and where the process was considered "complete", denying the reports of differences over the use of EFSF, now ratified by all Member States of the area, to provide the necessary funds.

While the capital needs of European banks were estimated between 100 and 200 billion dollars by the IMF, Angela Merkel stated that the new European Banking Authority and the International Monetary Fund would be asked to ensure that what is proposed is "durable and strong."

Nicolas Sarkozy announced the other as France and Germany were preparing a number of adjustments to the Treaties to strengthen European integration in the euro area.

European shares finished sharply Tuesday and recorded a third straight session of gains, supported, as before, with hopes of credible solutions to the crisis of sovereign debt in the eurozone.

The CAC 40 index closed up 5.74% to 3023.38 points, crossing the psychological barrier of 3,000 points and a small resistance around 3,014 points, the next resistance zone at around 3,089 points, according analysts graphics.

Professionals are questioning the strength of the rebound in stock market indexes and bank brunt of the fall of the market since late July and the main drivers of the rebound.

"For banks and insurance, as the indices, we can not yet say that we have stopped the downward momentum in place.But there are low points which should take several weeks, "said Jerome Vineria, market analyst at IG Markets.

For Valerie Gastaldy Cabinet Technical Analysis Day By Day, "the market may have been a low point, but there is no buy signal yet."

"Although the rebound is very large, has not yet confirmed the figure to return to Europe, but there is almost (…) what is interesting is that this is the first bounce that comes from the banks since the beginning of the fall (July ed), "she adds.

THE REBOUND not last NO SOLUTION TO THE CRISIS

In Paris, the bank has increased dramatically and signed the largest increases in the CAC 40: in order, Societe Generale (16.81%), BNP Paribas (14.15%) and Credit Agricole (13 , 1%), while the Stoxx European banks index was up 6.82%. The French and German banks have outperformed the others and are the only ones taking more than 10%.Deutsche Bank gained 12.62% and 12.59% Commerzbank.

The London Stock Exchange gained 4.02%, the Frankfurt 5.29% and 4.9% in Milan while the pan-European index STOXX 50 was awarded 5.31% and the Eurofirst 300 garnering 4 55%.

The volatility index of the Frankfurt Dax has dropped from 6.76% to 46.58.

"The 'rally' bear markets are the most violent," said Frederic Buzare, head of equity management at Dexia Asset Management, which warns that "the rebound will not last if investors do not get a clear action plan to resolution of the crisis "of the debt, he added.

"In this market-led policy, all about the risk premium. The valuation ratios are no longer relevant.We spend more time reading the statements of leaders (political) to study the balance sheets of companies, he says.

In addition to banking and insurance, the rebound has affected all sectors in Europe, particularly the construction (6.32%) and commodities (7.52%).

In the CAC 40, Alstom jumped more than 11%, Lafarge over 10% of Accor 9.37% 8.52% ArcelorMitttal, Michelin of 8.07%, 7.67% of Peugeot and Renault of 8.22%.

In this context of return to risky assets, return on German government bond (Bund) was extended to 10 years of one basis point to 1.96% while the euro going above $ 1.36 to exchange around 1.3610 against 1.3530 on Tuesday morning.

A barrel of U.S. light crude oil gained 3.64 dollars to 83.88 dollars and 2.64 dollars per barrel of Brent at 106.58 dollars.

The Chief Inspectors of the European Union and the International Monetary Fund (IMF) will return to Athens in early next week to resume the inspection mission, said Tuesday the European Commission, confirming the words of the Greek Finance Minister Evangelos Venizelos.

International creditors of Greece will have to decide at the end of the mission of an agreement on the release of a new tranche of eight billion euros.

Evangelos Venizelos spoke of his austerity plan with the delegates of the European Union (EU) and the IMF during a conference call that ended Tuesday at 20:30 GMT."Good progress has been made" during the conference, stressed the Commission in a statement, adding that "the technical discussions will continue in Athens in the coming days."

"Discussions will continue this weekend in Washington," which will host the annual meeting of the IMF, it was also learned in a statement released by the Greek Minister of Finance, who will attend the meeting.

An official with the Greek Ministry of Finance has also expressed confidence that the next tranche of eight billion euros will go to Greece with its international creditors, he said on condition of anonymity after a teleconference Tuesday.

"We are close to agreement with the troika," he said.

Greece pledged Tuesday to further reduce the size of its public sector in order to convince its creditors to pay the new tranche of aid, without which, the Greek state could end up insolvent next month.

The lack of recovery in the housing market prevents the activity really leave the United States. Explanations of a slump that may well last for …

One day, the U.S. housing market will leave … But the time has not yet come. To 1000 households, is now under construction 5 units, a record of weakness, experts comment Oddo Securities. The problem with this market? The fall in prices continues, fueled by the liquidation of foreclosed homes. In a speech on September 1, Elizabeth Duke, member of the Fed Board, recalled a few orders of magnitude: 25% of vacant houses for sale come from seizures, about one million properties will swell the stock of houses seized in 2011 in 2012 and 2013, 40% of home sales are forced sales. Under these conditions, a recovery is impossible.

Especially since some seizures – suspected illegal – are investigated.The Central Bank of the United States (Fed) announced that it planned to impose a fine on the U.S. bank Goldman Sachs for "malpractice" of its subsidiary, Litton Loan Servicing. Defuse this situation will take months, at least. But without rebound in real estate – and experts are adamant on this point – the growth prospects remain poor across the Atlantic. Aware of the problem, the authorities are considering new ways (supports tax failed to stem the crisis). Ms. Duke evokes such a large transfer program to sell foreclosed homes on the rental market. Meanwhile, the signs "For Sale" continue to flourish across the United States.

The avenue has returned to Paris in 2011 the European city where commercial rents are the highest in the Old World. It is the fifth largest in the world.

The rental value of the Champs Elysees was up 5.3% over the last twelve months 7364 euros per square meter per year, according to the study of real estate advisory firm Cushman & Wakefield on Thursday. It precedes and New Bond Street, who had dethroned in 2010, but the increase was smaller this year, from 4.3% to 6,901 euros per square meter per year, and retrograde in the fourth to sixth .

"In contrast to the decrease of 9.5% recorded last year," the increase in rental value of the Champs-Elysées "sign a comeback of the most beautiful avenue in the world, recently hosted several openings and significant transactions "said the annual study, citing in particular came programmed Marks and Spencer and Banana Republic.

The avenue also welcomed recent months many textile retailers such as Abercrombie and Fitch, Tommy Hilfiger and H & M, to the regret of the City of Paris, fearing that the movement would jeopardize the cinemas and restaurants on Avenue. "Other projects could materialize in the coming months and push even the rental value" of the best locations on the Champs-Elysees on the rise, the study provides.

"The economic recovery, even fragile, the development of tourism in the capital and reducing the number of opportunities available whet the appetite for major international brands already present in Paris or wishing to establish themselves," says Christian Dubois CEO of Cushman & Wakefield France. In addition to the Champs-Elysees, other districts of Paris are "very attractive to retailers (Opera / Madeleine Le Marais, Boulevard Saint-Germain, etc.)." Notes the study.

The Paris appeal is not limited to mass education, the study adds. "Boosted by the launch of new luxury hotels, the luxury market, through various openings, such as Chloe Rue St. Honore, or the pursuit of upscale department stores, appears as one of the big winners of the crisis, "says Dubois.

Changes in world ranking

Globally, the top three remains unchanged: the 5th Avenue in New York is still the most expensive shopping street, for the tenth consecutive year, to 16,704 euros (+21.6%), followed by Causeway Bay in Hong Kong to 14,426 euros (+16.7%) and Ginza in Tokyo at 7,750 euros (+8.7%).

Pitt Street Mall in Sydney, however, was hoisted from ninth to fourth place with 7,384 euros, with a jump of 33.3% of its rental value. Overall, the main arteries of global trade have been aggressive. "Despite the fragility of the economic climate and consumer sentiment in many countries", 81% of 278 analyzed sites in 63 countries "have experienced an increase or stability of their rental value against 66% in 2010," said M . Dubois.But "a significant further increase in rents and widespread" seems "less certain now" in the context of debt crisis and economic slowdown.

Italy's Eni, which was the main foreign producer of oil in Libya, has returned to the country Monday as the entry of rebels in Tripoli Libyan suggests a possible resumption of exports of oil.

Tanks and snipers in the Libyan Army struggled Monday morning to withstand the assaults of the rebels in the capital, where thousands of opponents of Gaddafi celebrated the imminent end of a free reign began in 1969.

The fall of the Libyan regime would open the largest oil reserves in Africa to new players, as the national carrier of Qatar or the trading company Vitol, which will compete with European and American giants before the present insurrection.

Although the price of Brent fell by more than a dollar, securities of French Total, OMV of Austria, and Eni showed an increase between 3.3% and 5.87% by 1100 GMT, the market hopes a return to the situation prior to the insurgency.

The Stoxx Europe 600 index of oil and gas advanced on his side of 2.28%.

According to the Italian Foreign Minister Franco Frattini, employees of Eni arrived on the scene to oversee an upturn in oil installations in the east, although fighting continued in the capital.

"The facilities were built by the Italians, the (oil services company), Saipem, and therefore it is clear that play the leading role (in Libya) in the future," said Frattini at the micro Rai.

NEW PLAYERS

Before the outbreak of the uprising in Libya, the country, a member of OPEC produced about 1.6 million barrels per day (bpd), nearly 2% of world production.

For its part, Austria's OMV said no negotiations have begun to date with the rebels.

"We see the current situation and its evolution very closely.For now, we do not have bilateral discussions with the Council (National) transition, "said a spokesman.

The French and German Wintershall Total, other major players in the oil sector in Libya Qadhafi era, have declined comment.GDF Suez declined to comment about reports of negotiations with the insurgents on a recovery in output.

Analysts and industry experts estimate that Eni and Total may emerge as the winners in the reshuffling of the cards in Libya because of the strong support shown by Paris and Rome against the rebels.

The military support of Qatar and logistics company Vitol could also allow new players to gain a foothold in the country.

"Qatar will be a big player, could be a Vitol.Shell also wants to strengthen its role, "said one Western specialist risk consultant and the fact of negotiations.

Most of the world's oil giants, such as Marathon, ConocoPhillips and Hess, have taken a much more cautious about the Libya

"They are just waiting and trying to determine who runs this country," said the consultant, who advises several U.S. companies about Libya.

BP, which was not producing in the country, said he wanted to return to resume his explorations, but without giving a timetable.