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.

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 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.

The Tokyo Stock Exchange ended sharply higher Monday, the EU summit Sunday with renewed hopes of resolving the crisis in the euro area and diverted the attention of the new rise in the yen and floods in Thailand.

The leaders of the European Union Sunday seemed closer to an agreement on the euro area, including the recapitalisaiton banks and the multiplication of the European Financial Stability Fund (EFSF).

The Nikkei gained 1.9%, or 165.09 points to 8,843.98 and the Topix, broader, took 11.23 points (1.51%) to 755.44.

The Nikkei, which lost 0.8% last week, crossed the threshold for Monday its moving average of the last five sessions, thus became a threshold of support for 8735 points.

"The news from Europe maintain hope and Wall Street reacted to the rise to these expectations, so the Japanese market is now catching up gains made abroad on blankets in the open position," said Koichi Ogawa, Daiwa SB Investments.

"But Japan is facing its own problems with the strong yen and floods in Thailand, affecting some manufacturing industries.These factors will limit gains in Tokyo and push investors to take a wait, time to see how the situation in Europe. "

Friday, the dollar dropped to a record low against the yen at 75.78, but has slightly rebounded since.

Title Olympus continued its dive to fall by 10.72% to 1,099 yen, after touching a low at the meeting of thirteen and a half to 1,012 yen.

The stock has lost more than half its value since the dismissal of its chief executive on Oct. 14.The latter was accused of incompetence by the presidency of the group, denounced bad practice prior to his arrival at the head of the group.

In technology, Elpida ended up 4.01% to 493 yen, while Sony fell by 1.29% to 1,536 yen.

The tire manufacturer Bridgestone has outperformed the market by winning 4.07% to 1,764 yen after announcing its intention to increase its operating profit by 5.8% of revenue in 2010/11 to 10% in 2016/17.

More than one million low-income households eligible for social tariffs of electricity and gas do not qualify now, because of the complexity of the award procedure. EDF and GDF will cross their files with those of beneficiaries of supplementary CMU.

Social tariffs for electricity and gas, more than one million beneficiaries do not receive very modest at present, will be automated from 1 January 2012, announced Monday in a statement the Minister of Energy, Eric Besson. The minister seized Monday the Supreme Council of the energy of a draft decree automating their allocation to households with incomes below the ceiling of the supplementary CMU, or 7,771 euros per year for a single person or 11,657 euros for a couple .

Only 600,000 households currently receive social tariffs for electricity or gas, so that 1.5 to 2 million households are eligible, according to the government, a situation that was "not acceptable" according to M . Besson. This phenomenon was explained by both the complexity of the award procedure and the modesty of copyright holders who waived the claim.

Reduction of 88 euros for electricity and 142 euros for gas

According to EDF, the average reduction of invoice driven by the social tariff of electricity (created in 2000 and established in 2005) is 88 euros per year. Reducing Gas (adopted in 2006 and implemented in 2008) it amounts to 142 euros per year.Eligible households will benefit rates "without having to step in" with the file of recipients of supplementary CMU, under control of the National Commission on Informatics and Liberties (CNIL), the ministry said in a statement.

To avoid excluding people who forgot to extend their rights to CMU, the rights to social tariffs will run six months longer than the CMU, according to the draft decree. The decree, the government had promised, following the adoption last year of law Nome (New Market Organisation of Electricity), which already provided for automation rates for households with the lowest incomes.

Sony Ericsson is in discussions to buy the group's stake in their joint venture specializing in the manufacture of multimedia handsets, told Reuters on Friday a source with direct access to the file.

Thursday, the Wall Street Journal reported that Sony was close to buying from Ericsson in their joint venture.

Another source had told Reuters in July that talks about such a takeover was under way in anticipation of the expiry this month of the contract between the two companies.

According to many analysts, Sony needs to tighten its grip on Sony Ericsson to regain lost ground in the smartphone market, heavily congested.

Sony Ericsson was formed in 2001.The joint venture has failed to establish its presence with a market share of around 3% after peaking at 9%.

At the end of the meeting, as Sony lost nearly 4% while the Tokyo Stock Exchange advanced by almost 1%.

Driven by hopes of a European bank recapitalization, stock markets continued to grow yesterday. Pars won 0.9%, but Apple's stock in Frankfurt drop 4% following the death of Steve Jobs. Traders on the Frankfurt Stock Exchange. The DAX ended Tuesday, August 9 close to balance, down 0.10% at 5917.08 points, after an erratic session.

European shares continued their positive momentum on Thursday after strong rebound Wednesday, still driven by hopes of a coordinated recapitalization of banks in Europe to help them withstand the debt crisis in the eurozone. At the opening, the Paris showed a gain of 0.89% on expectations of support measures from the European Central Bank (ECB) to banks in the wake of the mobilization of political leadership on this issue.

In the first few exchanges, Frankfurt progressed from 0.70%.But the action of the American Apple dropped to the Frankfurt Stock Exchange after the announcement of the death Wednesday night of the group's co-founder Steve Jobs. The action, which is listed on the open market in Frankfurt, most U.S. markets, lost 3.8% to 272.20 euros at 9:11. The death of Steve Jobs, "one of the greatest American inventors" according to Barack Obama on Wednesday to 56 years, has generated an avalanche of responses to the measure of character, became the symbol of the success of the firm at the apple.

In other European stock markets, London progressed by 0.65%, Madrid and Milan by 0.50% to 0.55%. Wednesday, Paris won 4.33%, London 3.19%, 4.91% Frankfurt, Madrid and Milan 3.06% 3.94% despite the downgrade of the sovereign debt of Italy by Moody's. The strong rebound in European stock markets Wednesday has spread across the Atlantic, where the New York Stock Exchange also ended sharply higher Wednesday.

Back optimism also in Asia on Thursday morning. The Tokyo Stock Exchange ended the session with a gain of 1.66% while Hong Kong, Seoul and Sydney also evolved significantly positive territory. Shanghai was closed Thursday. After weeks of dithering, European leaders rallied Wednesday to prevent a collapse of the banking sector, weakened by the debt crisis, which brought down the French-Belgian group Dexia.

German Chancellor Angela Merkel said it was "justified" to recapitalize European banks in need, stressing that "time was running out" and that his country was ready to do "if necessary". "The German government is ready, if necessary, to achieve a recapitalization" of banks at home, assured the Chancellor, not excluding that the matter be discussed at the highest level at the next EU summit in Brussels on 17 and October 18.

The daily Die Welt, Merkel intends to convince French President Nicolas Sarkozy to act quickly to support banks, at their meeting on Sunday, while Paris would rather wait. Finance ministers of the EU have asked the parallel European banking regulator (EBA) to assess the impact on the banks of a deep discount applied to the obligations of the Greek state, reported the Financial Times. The International Monetary Fund (IMF), he, actually suggested Wednesday to inject 100 to 200 billion euros in the biggest European banks to stabilize the area.

In this context, as investors wait to see, around 1:45 p.m., what will be the decision of the European Central Bank (ECB) on interest rates. This is the last meeting chaired by Jean-Claude Trichet, whose eight-year term as head of the ECB ends October 31.The ECB raised its key rate twice this year for fear of inflation, this time could announce a reduction to support the economy in crisis in the euro area.

The private sector created 91,000 U.S. jobs in September, exceeding analysts' expectations, soothing some concerns about a rapid deterioration of the labor market.

Economists polled by Reuters predicted that the monthly ADP, released Wednesday, would state that 75,000 jobs created.

Figure of the month of August, however, was revised down slightly to 89,000, against 91,000 in the first estimate.

The publication of these figures has raised the index contracts before the opening of U.S. markets, but Wall Street was then opened in fall, investors remain uncertain economic prospects and projects of European leaders about banking.

ADP Employer Services survey, conducted in partnership with Macroeconomic Advisers LLC, is considered a leading indicator of monthly statistics on employment figures which are expected on Friday.

Economists polled by Reuters anticipate 60,000 new posts in the private and the public, but outside the agricultural sector, after zero in August.

"It seems that the private sector will continue to create jobs, which is consistent with the scenario of slow growth," said Gary Thayer, macroeconomic analyst at Wells Fargo in St. Louis.

"The problem is that the public sector is shedding jobs.So we should have a low figure, but slightly positive next month. "

Moreover, the number of planned job cuts in companies in the country jumped in September to a high of more than two years, another report showed on Tuesday.

Employers announced last month that 115,730 job cuts planned, against 51,114 in August, the report said the consulting firm Chalenger, Gray & Christmas.

This is the highest since April 2009.

The increase in sales in September was mainly due to two employers: Bank of America and the U.S. military, which together plan to reduce their workforce by 80,000 people.

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.

Managers and analysts now expect the intervention of political authorities to restore calm to the financial community a destabilized by the possibility of a relapse of the U.S. economy and the expansion of the debt crisis in the euro area.

European leaders multiply contacts to counter the distrust of investors led by two weeks of dropping world stock markets.In the euro area, the squares of Paris, Rome, Madrid and Lisbon have recovered their levels of more than two years.

"Politicians are so quick to intervene and help countries such as Greece and Ireland that the market has lost confidence in the ability of political authorities to take action," said Eric Le Coz, deputy general manager at Carmignac management.

President Nicolas Sarkozy was to meet Friday with German Chancellor Angela Merkel and Spanish Prime Minister Jose Luis Rodriguez Zapatero.China and Japan have called for international cooperation.

"Given the magnitude of the tornado that struck the markets, it would make sense that the policies show a strong sign and bring some calm and reason among investors disoriented," said Fabrice Cousté, CEO of CMC Markets France.

In the absence of signs of improvement in the macroeconomic situation, a strong and credible intervention of the authorities now seem necessary but should not be possible before the end of the summer, fall, however, several analysts.

"The decline may continue until the elements for building the confidence to materialize," warned in a note to CM-CIC Securities."We do not expect until September at best."

A CALENDAR Malaysian politics

"Given the difficulties of Spain and Italy in the financial markets, one can logically expect a new high on the modalities and financial resources of the European financial stability. It should be held earlier than the schedule but it does not lend, "said Fabrice Cousté.

The Spanish Minister of Economic Affairs, Elena Salgado, spoke Friday a meeting of economic ministers of the European Union in early September.

The electoral calendar loaded complicates the situation.The elections are not conducive to radical decisions, generally unpopular, stress professionals.

Parliamentary elections are scheduled for November in Spain. France is already campaigning for the presidency in April and May 2012, and follow the U.S. presidential in November 2012.

In Italy, where power is weakened by electoral setbacks of May and where the governing coalition splits, experts do not rule out a fall of Berlusconi cabinet and the holding of early parliamentary elections ahead of schedule in 2013.