Registrations of new cars in France fell by 20.7% in raw data in January to 147,143 units, said Wednesday the Committee of French Automobile Manufacturers (CCFA), con ; frequency of the economic climate and comparative unfavorable early 2011. Working day adjusted, in January 2012 with 22 working days counted against 21 in 2011, registrations of new cars in France fell by 24.3% last month. In 2011 and 2010, they had declined by 2.1 and 2.2%, supported by one after the scrappage scheme introduced to the crisis that struck the area in late 2008 and whose effects were felt until the first quarter of 2011. The PSA Peugeot Citroën registrations fell 23.1% last month while those of the Renault Group (Renault and Dacia brands above) decreased by 26.1%. In contrast, sales of Volkswagen in the Hexagon increased by 16.2% (23.2% just for VW).

According to a Financial Times ranking, the current Minister of Economy holds the 15th place among the most influential ministers in the European Union. Before leaving Bercy for the IMF, Christine Lagarde had held the top spot on this list. The new Executive Director of the IMF, Christine Lagarde, said goodbye to the National Assembly Wednesday, June 29 It is replaced as Minister of Economy and Finance by Baroin

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 release date of the recession has been repeatedly pushed back to Athens for two years. According to the international organization, the economy should resume growth in 2013. In Greece, the horizon darkens again.

The International Monetary Fund has ceased to be optimistic for Greece, drawing a line under the belief that it could recover as soon as its creditors believed at the beginning of international aid plan. "The recession will be deeper than anticipated in June and a recovery is now expected that from 2013," wrote the IMF, the Commission and the European Central Bank in a statement Tuesday.

Greece, in recession since late 2008, did not see the end. Issues and the IMF forecasts a growing dark. The date on which the Hellenic economy should resume growth has declined steadily for two years.In 2009, before the debt crisis, the IMF thought it would be in 2011. In 2010 and until summer 2011, he was counting on 2012. Since September, 2013.

The "troika" of the creditors of Athens on Wednesday announced the release of 8 billion euros in November. But the IMF no longer speaks to unlock new loan to the country most in need of the euro area. At the end of the summit area on July 21, executive director of the institution Christine Lagarde said that Greece expected demand "soon" new aid. Two months later, change of tone in Washington at the annual meeting of the IMF, Ms. Lagarde forget any reference to a new loan, and hammered the need for Greece to meet its commitments before obtaining new European funds. "What we have heard lately is the strong commitment of European partners to be with any member of the area.And I think it's a crucial point, "she said, without defining the role of the IMF. Europe's director, Antonio Borges, agrees:" If the Greeks are doing what they should do, I think they can count on the full support of the rest of Europe. "He fails to mention the IMF.

Jacob Kierkegaard, economist Peterson Institute in Washington, history has proven that the institution had agreed, when it promised 30 billion euros to Greece in May 2010, a plan too ambitious reform the country quickly without restructuring its debt. "The projections are by nature optimistic. They tried to convince market participants that Greece was not an insolvent country," said he. But the IMF has found over time that Athens could not move as fast as you like, especially in its privatization.Gradually, the prospect of global institution with a long experience of debt crises has departed from that of Europeans, for whom it was to preserve the young first monetary union and bank-holding Greek debt. Kierkegaard says, "the markets have a confidence level much higher in the IMF as a neutral arbiter in the ECB or the Commission", and the IMF has gradually imposed his views.

The aid program in Athens, most originally designed by Europeans, has failed in its objectives: to make Greece more competitive, restore the credibility of public finances and financial calm tensions in the eurozone. Contrary to the hopes the Europeans, "the specter of a discount for holders of Greek bonds and the risks of contagion that accompany have not flown," says Samarjit Shankar, an analyst at Bank of New York Mellon.Especially, the way the Greek economy has sunk was a cruel disappointment, said Eswar Prasad, a former economist at the Fund (1990-2006). "In principle", the IMF forecasts assume that the government will follow a certain policy, says he told AFP. Greece shows that "the slippage in the implementation of a policy (…) can cause a divergence between growth forecasts and actual growth."

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.

Wall Street has ended up a very volatile day on Monday, a rally to have occurred at the very end of the session in the hope that Italy receive financial support from China.

Italy has asked China to perform major purchases of its sovereign debt, the Financial Times.

"This shows that the Chinese are not kidding when it comes to addressing the tensions of the market," said Robbert Van Batenburg (Louis Capital).

Before this news, which also had the effect of reducing the bond market, prices were well oriented in the red, affected again by fears about the crisis of sovereign debt in the euro area.

What should be added those of Moody's downgrade see French banks.

The fear of the debt crisis of the European impact on the U.S. banking system does not weigh less heavily on Wall Street for months. In addition, the ministerial summit of the G7 last weekend did not lead to new initiatives to boost growth.

"U.S. investors are faced with a barrage of bad news from European markets," commented Andrew Wilkinson, analyst at Interactive Brokers Group. However, he added, "after a weak start sensitive, investors seem a little less concerned."

The Dow Jones gained 68.99 points (0.63%) to 11,061.12. The Standard & Poor's is 8.04 points (0.7%) to 1162.27.The Nasdaq composite leading 27.10 points (1.1%) to 2495.09.

Agreement in the high tech sector was already allowed the Nasdaq to limit its losses during the session.

Areas that closely follow the business cycle have reacted differently to the late rebound for rating index of natural resources eventually even a loss of 0.77% but the energy was able to go back and shows a gain of 0.53%.

In high tech, NetLogic Microsystems jumped 50.8%, the specialist mobile chips that Broadcom agreed to buy back $ 3.7 billion.

Broadcom has yielded 1.14%.The semiconductor index has been 3.03%.

The merger "shows that many shares are undervalued, a historical perspective," says Joseph Cangemi, managing director of BNY ConvergEx Group.

In banking, Bank of America shows a gain of 1.0%. The bank announced Monday eliminate 30,000 jobs in the coming years in order to reduce its annual expenses of five billion dollars by 2014.

The financial index, which also visited the negative territory for most of the day, closing displays a gain of 1.22%.

Values ​​always, McGraw-Hill Companies has gained nearly 4%, the publisher has announced plans to split into two companies, one international and one in education.

Regions have less and less leeway to increase their resources and reduce costs. Result: debt continues to grow, according to a study released Tuesday by the rating agency Fitch. Debt regions would experience an increase of 8.4% in 2010, and 35% by 2013, according to the rating agency Fitch. It now stands at 17 billion euros.

The repayment ability of the regions is deteriorating. Analysis of the Fitch rating agency, published on Tuesday shows that debt amounts to 17 billion euros, against about 15.6 in 2009. And is progressing at an astonishing pace: 8.4% increase in 2010 and 35% by 2013. According to Les Echos, the assumption that the regions will devote all their resources now and stop any investment, they would put about four years to repay.In short: the regions are difficult to vary the amount.

Increased margins on spending

In addition, dependent on market conditions CVAE companies. Fitch situation which is far from expect miracles: "We expect that this resource is very dynamic in the future."

But the study is not as black dots. Regions seem to have more margin on expenditures than revenues. And they would have "sound fiscal fundamentals" .. If they can not easily reduce their operating expenses, according to the study, the recent land reform gives them a little breath of fresh air. She questioned the principle of "general competence" of regions and departments, allowing them, legally, to take care of almost everything.Because of this, according to the rating agency, the regions will be able to focus on their "skills required": transport, vocational training and college. And reduce their expenses.

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.

German Chancellor Angela Merkel reiterated Friday his opposition to the Eurobonds as a solution to the crisis of sovereign debt in the euro area.

"We would be on a slippery slope and in the best case, this would put us on a European way, but more likely, we would be much worse," she said."And that we do not want."

Speaking at a rally held in the Christian Democratic Hamelin, in western Germany, Angela Merkel added: "If the debt was put into a pot, I would never be able to determine from where it comes from, let alone how to improve my situation. "

"And Eurobonds would give no right to intervene to compel others to fiscal discipline."

Also Friday, the head of the French government François Fillon rejected the creation of European bonds, saying it would increase the cost of public debt of France and could affect its rating, in an article published by Le Figaro.

The United States lost their precious "triple A", for the first time in their history.

The rating agency Standard & Poor's announced Friday night down a notch in the sovereign rating of the United States, saying the planned fiscal consolidation program will not stabilize the debt of the world's largest economy.

This degradation from AAA to AA + comes with a negative outlook, meaning that S & P could again deteriorate note of the United States within 12 to 18 months.

It followed a bitter battle between Republicans and Democrats raising the ceiling on public debt, which led the United States within a whisker of default.President Barack Obama signed on August 2 of the Act providing for the deficit of 2.100 billion over 10 years away from 4000 billion savings expected by S & P.

It comes as markets fear a "double dip", a relapse of the U.S. economy, which was subjected to Wall Street's worst week in more than two years.The broad index of the New York Stock Exchange, the S & P 500 lost 10.8% during the last ten sessions under the double blow of the threat of another recession and the extension of the debt crisis in Europe.

"The reduction (of note) reflects our view that the fiscal consolidation plan that Congress and the administration (Obama) has recently approved does not respond to what, in our view, would be needed to stabilize the dynamics medium-term debt, "said S & P said in a statement.

For now, the United States maintain their "triple A" with two other major rating agencies.

Moody's confirmed on August 2, while matching its Aaa rating than a negative outlook.

Fitch maintained its AAA while placing U.S. debt under review.According to David Riley, principal analyst at Fitch in the U.S., the agency does not place the American note negative outlook once the review finished.

"INTERNATIONAL MONITORING"

The United States was rated AAA by S & P since 1941. Degradation of their sovereign rating was unthinkable a few months ago.It reflects the deteriorating global economic climate and could have implications for the status of reserve currency the U.S. dollar.

It is expected to increase borrowing costs for administration and U.S. government agencies, for companies and individuals.

The Federal Reserve provided a deterioration in the sovereign rating would be no need for additional capital for banks, insurance companies and other institutions that hold U.S. debt.The Fed also said it would not impact his wicket for the banks, nor on its purchases and sales of Treasury securities to conduct monetary policy.

The U.S. Treasury bonds, which until recently were undoubtedly the safest assets in the world, are now rated below bonds issued by countries like UK, Germany, France or Canada.

"The global system must now adapt to the many implications and uncertainties induced by the loss, once unthinkable, the AAA American," said Mohamed El-Erian, the investment company Pacific Investment Management.

This is a blow to the prestige of the United States but not an unexpected decision.S & P had in October called for a meaningful agreement to control the duration of the U.S. deficits and threatened in April to lower its rating.

"We expect that the dollar is more pressure but we do not imagine a selloff," said Vassili Serebriakov, an analyst at Wells Fargo Bank.

The impact could even be limited to Monday's reopening of global interest rate markets. In fact, Treasuries have benefited from the recent drop in world stock markets and the performance of U.S. 10-year fell to 2.34%, the lowest for ten months.This reflects investor sentiment that the U.S. State debt is always a safe haven.

However, degradation may worry foreign creditors, the first of which China holds $ 1,000 billion of U.S. debt.

Beijing, through a review of the official Xinhua news agency has promptly reacted to the news and urged the U.S. to face the problem of debt, asking that the global economy is not a hostage of U.S. domestic politics.

"There is a need for international monitoring on the issue of the U.S. dollar and a new reserve currency, stable and secure, can also be an option to avoid a disaster to be caused by a single country," Xinhua said.

Inability to govern ALL

The White House did not immediately react to the decision by S & P. Barack Obama was made aware that day of the intentions of the agency but it was discussed with officials of the U.S. Treasury, not with the White House were told Reuters a source familiar with the matter.

Friday night, the U.S. Treasury said that the calculation of debt by S & P was wrong about 2000 billion.S & P affirmed its economic assumptions have changed after discussion with the Treasury but said it did not change its decision.

"We take our responsibilities very seriously, and if at the end of our analysis, the commission concludes that a note is not to where it should be, it is our duty to make this decision," said Reuters responsible for the sovereign debt rating from S & P, David Beers.

Analysis of S & P is essentially the inability of Democrats and Republicans to govern together – the House of Representatives is controlled by the Republicans. The rating agency believes that such tax cuts enacted under the administration of George W.Bush will not be interrupted in 2012 due to fierce opposition from Republicans.

Degradation was immediately exploited by the Republican candidates for the nomination for president next year, Mitt Romney, for example seeing "a very disturbing indicator of the decline of our country under President Obama."

The compromise reached between the two sides would create a bipartisan parliamentary committee to find 1500 billion in budget cuts by the end of November, of which 917 billion have been identified so far.

Wall Street opened on an uncertain note Friday, disappointing trial results giants Microsoft and Caterpillar have overshadowed relief born of the Europe Agreement on the Rescue of Greece.

Ten minutes into trading, the Dow Jones lost 0.25% to 12,692.55 points, the Standard & Poor's 500 fell by 0.08% to 1342.76 points and the Nasdaq Composite advanced 0.27% to 2842.19 points.

Affecting the performance of the Dow Jones, Caterpillar fell by more than 7.4% after reporting quarterly earnings Friday on the rise but below market expectations.

Microsoft was lower after opening higher in the red.The group's earnings per share exceeded market expectations but sales of the Windows division declined.

McDonald's won for its 3.03% after publishing quarterly results better than expected.

Eyes turn now to the budget negotiations in the U.S., entering a critical stage Friday.

This is indeed the deadline set by President Barack Obama to try to reach an agreement with parliamentary leaders on raising the debt ceiling before August 2, after which Washington would find itself in default.

The rating agency Standard & Poor's reiterated Thursday that there was a chance that two lower sovereign rating of the United States within three months, Market News International reported.