The debt crisis in the euro area still focus the concerns of the international markets. Yesterday, the rates at which borrow Italy and Spain have reached dangerous levels. In the process, the major European markets ended down.

The BoJ kept its policy rate

The Central Bank of Japan (BoJ) kept its key interest rate Wednesday on a daily basis in the range of 0.0 to 0.1%.Investors are, in addition, the surge in profits after the previous day, which saw such a barrel of light crude earn $ 1.23.

By 2016, it is an additional € 65 billion will be saved, said the Prime Minister, in order to achieve a zero deficit at that date. More than half of the effort will focus on lower costs, he added. The Prime Minister also recalled that the gouvernerment expects a 1% growth in 2012.

The main measures:

• VAT reduced from 5.5% to 7%. This new rate will apply to all goods and services affected by the reduced rate saving account pay day loan.In terms of controlling health care costs is an additional effort of 700 million euros will be accomplished. "

• The rise of certain social benefits will be limited exceptionally to 1% in 2012. The social minima (RSA, pensions, allowances for disabled adults, etc..) Are not affected and will be upgraded under the current rules, the more advantageous.

• The tax loopholes will be planed to 2.6 billion euros extra.

• The corporation tax for large groups will be increased by 5%.

"France must roll up our sleeves," insisted Francois Fillon. "We must rebuild our growth model" too supported by consumption itself inflated by social transfers, said François Filln concluded.

Moderated somewhat in early trading, the Paris market has accelerated the pace in the afternoon, reassured by the good performance of Wall Street. In session the Dow advanced 1.77% and the Nasdaq 1.49%. To observers, the shift is mainly due to the information that has filtered through the preparations for the EU summit scheduled between Sunday and Wednesday. Finance ministers of 17 countries of the monetary union have found themselves in the afternoon on Thursday in Brussels to finalize this key event for the euro area.Paris and Berlin have already announced that Nicolas Sarkozy and Angela Merkel would meet Saturday in Brussels to prepare an "ambitious and comprehensive response" to the crisis. Concrete measures should then be unveiled during a second summit to be held "no later than Wednesday."

The bad news relegated to planIl will then not only to agree on how to increase the capacity of the European Financial Stability Fund (EFSF), but also to review the new rescue plan for Greece.

Hope for quick and concrete progress on the thorny issue of sovereign debt in the euro zone was overshadow the bad news of the day. After Moody's, Standard & Poor's raised doubts about the triple-A long-term debt of France, where strong economic downturn.In the same case scenario, the agency also mentions a possible degradation of the notes from Spain, Italy, Ireland and Portugal according to economic conditions.

Weekly balance sheet negative for banks

Bank stocks, regaining ground as we approach the Summit of Heads of States in Brussels. BNP Paribas was up 6.22%, 5.59% Societe Generale and Credit Agricole of 3.93%. On the week, however, accuse the banks of heavy losses. Over the whole week but it heavy losses. In five days, Societe Generale lost 8.95%, 6.82% Credit Agricole and BNP Paribas 1.46% guaranteed pay day loans.Unlike some of the best performance on the CAC 40 weeks, there is Pernod Ricard (3.76%) and Danone (3%) who announced results considered of good quality, in the last days.

• Essilor (+3% to 52.48 euros)

The world leader in ophthalmic lenses achieved a growth of 6.4% of its sales in the third quarter 2011 to 1.04 billion euros. The group also confirmed its target for 2011 growth of its business "between 6% and 8%" at constant exchange rates and strategic acquisitions, and its goal of stability margin excluding strategic acquisitions.

• Safran (-8% to 22.20 euros)

The group confirmed its targets for 2011. It aims for 2011 growth of around 6% to 9% of its revenues and 25 to 30% of its operating income.Safran has seen its turnover increase from 5.2% to 2.72 billion euros in third quarter

• Valeo (6.63% to 35.85 euros)

The group reported a turnover up 14% in the third quarter to 2.6 billion euros and confirmed its operating margin target for 2011.

• Klépierre (4.01% to 22.28 euros)

The group reported a growth of 4.9% of its sales in the third quarter, supported by the increase in rents shopping centers.

• FranceTelecom (2.58% to 12.94 euros)

Orange will acquire 100% of the mobile operator CTC (China Telecom Congo) in the Democratic Republic of Congo, the French group paying $ 10 million (7.3 million) to ZTE for its 51% of CTC and 7 million dollars to the Congolese government for the balance.

• Pierre et Vacances (0.59% to 29 euros)

The group reported Thursday a 2010-2011 annual turnover of 1.47 billion euros, up 11.2% on a comparable basis. Solely on the fourth quarter of fiscal year, ended Sept. 30.

• Etam Développement (2.81% to 14.25 euros)

The group released Thursday a quarterly revenue of 269.4 million euros, down 10.7% on a comparable constant exchange rates.

• OL Group (-0.68% to 4.40 euros)

The group announced Thursday it had reduced its net loss to EUR 28 million for the year ended June 30, against 35.6 million a year ago and have returned to a positive EBITDA (8 , 9 million) "despite a very mixed season in sport."

Elsewhere in Europe, the Dax in Frankfurt Stock Exchange lost 1.10% and the FTSE in London yields 0.50%.

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Antonio Gentile and again the words of a member of the Italian government which emphasized on Monday night that the purchase of debt securities of the Italian state was not central to the negotiations which took place several weeks ago. While the Finance Minister Giulio Tremonti, as well as officials of the Cassa despositi e prestiti, met Lou Jiwei, the chairman of China Investment Corp (CIC), accompanied by a delegation in Rome.But "there is no extraordinary operation to purchase debt with China but only institutional meetings planned for a long time to evaluate investment opportunities in Italy, especially in industrial," said Secretary of state.

This meeting was on capital expenditure and not bonds, "provided later another government source.

Relief markets

In any case, the information had an immediate impact on equity markets. European shares closed Tuesday on a rebound, despite the conflicting information. Yesterday, the news sparked a dramatic rise of U.S. indexes, which ended the session up when they were, like all European markets, a sharp decline shortly before that information cash advance loans. Foreign exchange markets also reacted.The information has strengthened the euro, trading at 1.3692 dollar in the evening.

All stock indices around the world is indeed suspended at the least information related to the status of sovereign debt in the euro area. In fact, the fear of contagion shook the Greek market.

The tension remains strong. Italy fails to regain investor confidence on Tuesday and again, the Italian rates have soared in bond issues.

China has pledged to support the euro area

The assumption of support from China bound for the euro area is particularly taken seriously by the markets as the Central Bank of China recently said it was ready to support countries in difficulty to repay their debt.

Moreover, China has already come to the rescue of countries in the euro area in difficulties in recent months.In late May, Beijing had expressed its intention to purchase debt securities issued by the European Stability for Portugal. In January, China had purchased European titles for bail Ireland. And from the beginning of the crisis, China had come to the aid of Europe's sick of his debts. Earlier this year, the country had purchased bonds espagnolespour a hundred million. The Middle Kingdom is also committed to acquire Greek bonds

By helping the EU now, China is diversifying its investments in debt securities. In addition, the country is gaining leeway in future negotiations.

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According to several newspapers across the Rhine, Chancellor Angela Merkel had informed members of his party (CDU) that Greece would not receive payment of the installment scheduled Sept. 15 if it did not meet its targets for reducing deficits. More explicitly, the German finance minister, Wolfgang Schäuble, said before Parliament that if the mission of the Troika, interrupted last week, did not resume quickly and did not end in a positive way, "the next tranche of aid would not be granted. "

Recent electoral defeat

This hardening of the tone is to contain the discontent in the ranks of the CDU since the election defeat on Sunday in the Land of Mecklenburg-Vorpommern. In fact, Angela Merkel only has a narrow majority to vote in the Bundestag on 29 September, the second aid plan in Athens. The Chancellor must give his firm pledges of Parliament to show that it does not dig a bottomless pit.

The pressure put by the Germans to the Greeks also reflects simply the blocking of the situation in Athens, unable to meet its commitments payday loan no faxing. According to Reuters, Greece would have asked to be faster than expected payment of the amounts promised in the second aid plan, which would mean that its finances are deteriorating faster than expected.Unlike France, more and more states are reluctant to vote with the second.

The head of the Slovak Parliament, Richard Sulik said that Slovakia would deal in December on strengthening the European Financial Stability Fund (EFSF). The plan "can not therefore enter into force in February," Sulik said.

All these questions are still weighed heavily on bonds in the euro area on Tuesday. While Italy was forced to further accelerate the passage of the austerity plan is to Madrid came the aftershocks. The leader of the CCOO, one of the main Spanish trade unions, said Prime Minister José Luis Zapatero, would have admitted that the country was "on the edge of the abyss" and would need a bailout. Remarks Tuesday strongly denied by the Spanish government, which illustrate the growing tensions in each country.

Again, the problems of sovereign debt in Europe have focused attention. Greece plans to expand its exchange program to include obligations of the securities in the longer term, which penalizes first private creditors. As the European markets, particularly the banking sector has been attacked in the image of Bank of America (-9.87%), Citigroup (-8.49%), Goldman Sachs (-7.76%), Morgan Stanley (-7.52%), Wells Fargo (-6.17%) and JP Morgan Chase (-6.13%).

In addition, rumors of worsening debt rating by a French rating agency have affected investors. "These rumors are totally unfounded and the three agencies Standard and Poor's, Fitch and Moody's have confirmed that there was no risk of degradation," however, said the entourage of the French finance minister, Baroin.

"At this stage, investors dizzy," says Oliver Pursche, president of Gary Goldberg Financial Services.

Fear of a recession

In addition, operators are even very concerned about the state of the U.S. economy. Yesterday, the world stock markets have overreacted, and positive against all odds, to about the Fed. This has indeed ensured that it would maintain its rates at a historical low, and until mid-2013 to support the economy.Oil stocks have fallen dramatically and unexpectedly last week in the U.S., according to figures released by the U.S. Department of Energy. Crude inventories fell 5.2 million barrels to 349.8 million barrels in the week ended August 5. Analysts polled by Dow Jones Newswires had forecast the contrary, an increase of 1.1 million barrels.

Note that the budget deficit of the United States continued to fall in July for the fourth consecutive month according to figures released Wednesday by the Treasury Department.The action even reached 10.36 dollars during the session, the lowest price ever since the split with Time Warner in 2009.

Facebook on Tuesday launched a new application for mobile phones iPhone (Apple) and those equipped with the Android operating system (Google) to send messages to his "friends" on social networking, but also to other contacts. Called "Messenger", the application can send both text messages (SMS) and email.

Apple (-2.76% to 363.69 dollars) briefly delighted, yesterday, Exxon Mobil (-4.59% to 67.90 dollars), its position as the first market capitalization.

The proposals will set aside any supranational option. The proposal to create the office of Union Minister of Finance put forward by Jean-Claude Trichet, the head of the European Central Bank, was clearly rejected by Paris."The idea of ​​the president is to move towards more European integration. However, he does not want a supranational economic government, "said one close adviser. "He believes in a more close monitoring by peers, by the Commission, and also the creation of a European rating agency," it adds.

Among the possible ways, that of a regular meeting of Heads of State in the euro area. Until now, German Chancellor opposed any "institutionalization" of the summit to seventeen for three reasons: not to cut Europe into two hopelessly between those who use the euro and those that have no. Do not give the new speaker a casting vote in the Mediterranean countries (Greece, Portugal, Italy, Spain …) friends of France and are far from being paragons of virtue.And, ultimately, do not support the idea of ​​a Franco-German Executive which is expected to submit the rest of Europe.

A "European Fund"

For this reason, many MEPs protest against the double standards of Paris and Berlin. "The economic governance of the Franco-German dictatorship is not a solution," says MEP (Modem) Sylvie Goulard, who defends the idea of ​​involving the European Parliament to tax policy options. Other tracks include the gradual transformation of European Stabilization Fund into a "European Fund." Finally, many "federalist" believe we should give more resources to the European Commission. "The statements of intent for a greater convergence of economic policies were made in the Lisbon strategy, and it did not help," says Sylvie Goulard yet.

At the Élysée, it places great emphasis on the need to confront the high-level fiscal policy choices, budgetary, wage. "Between 1997 and 2004, the French and the Germans had a policy against it. In France, we opted for 35 hours in Germany, Schroeder was the opposite. It was the model of what not to do when you're in the euro area, "says one close to the head of state.

This offensive against junk food is primarily aimed at combating the scourge of obesity, which affects 18% of the population. "Studies in recent years on the eating habits of Hungarians and health effects show that the problems associated with excessive consumption of fat and salt have increased," says Minister of Economy, György Matolcsy no faxing pay day loans.

This tax also has the advantage of the coffers of a state that really needs.Faced with abysmal deficits, the IMF ordered to redress the balance, the government of Viktor Orban multiplies the creation of new taxes, including banks, telecommunications companies, energy and distribution. Never mind, especially since he swears the "hamburger tax" will finance advertising campaigns on food hygiene.

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It is true that the pyramidal organization sponsors tickets with different specific and visibility – enables sponsors to enjoy the varied biggest cycling race in the world. To be included in the club of four key partners alongside LCL, Vittel, Carrefour or Skoda, with arrangements for wider visibility and exclusivity of the brand associated with the Tour, it takes 3.5 to 5,000,000 of euros per year.

For their part the official partners (ten in total) as Antargaz, Orange, Festina, AG2R La Mondiale, Brandt or the PMU (the green jersey sponsor) must raise between 600,000 and one million euros. For that amount, they have a pavilion at the Village, a place in the publicity caravan and a right of communication associated with the Tour. Finally, the 17 official suppliers, engaged for three years, such as the ever-present Cochonou (14 years on the run), Nesquik, Sodexo, Etap Hotel and Haribo, capitalizing heavily on trade marketing operations, but are not associated with the sports section. Average amount of investment: between 300 and 500,000 euros.

Not to mention the octogenarian Caravan advertising that drives the pre-race with 160 vehicles and thirty brands that are paying 37,000 euros for the right to four vehicles (6300 euros per additional vehicle) and distribute the artists receive "goodies" . In anticipation of its 40 year history, has completely revamped its Cochonou device caravan and bobs will distribute 100,000 collectors, 400,000 sachets sausage, or 5000 bags. "Since our arrival in this race, we settled in aided awareness 95%.As for our market share by volume, it increases by 1.5 points during the competition each summer to 12%, "said Schneider Laétitia, Brand Manager for Cochonou.

Proof if any of the enthusiasm for marketing the event, we already know a new partner of the Tour in 2012: Le Coq Sportif, which will become the new supplier of ASO, some 60 years after a first experience!

New technologies invite themselves

Like likes to remember year after year Yvon Breton, No. 1 group collective foresight AG2R La Mondiale, signing 15-year presence in the bicycle, via a team (9 million budget) and a partnership with ASO, "what is the event that can give his name to a team that generates advertising equivalent of several million euros?" In 2010, they corresponded to 90 100% free credit score.5 million purchase of space or a new level, against 63 million euros in 2009. "We remain on the bike because it can continue to install the brand," he insists.Traveling agency that the group installed on each step also enables it to host more than 40,000 people during the three weeks of the competition and also to distribute the number of "goodies".

The media is probably the maximum calculation made by Alcatel One Touch, a newcomer to the team of partners ASO, which is the first investment in sports sponsorship. "We have a public position and the Tour is the premier event that allows us to reach out to families, much more available at this time of year, because vanaces," says Ludovic Leray, head of sponsorship. For his debut in the sport, the distributor of mobile phones and internet products will have a visibility distance through the appearance of its logo during the "course info" for the steps.It will also be the first partner to the general public to support the publicity caravan of the inside line, thanks to its smart phones and via Facebok and Twitter. Alcatel One Touch will also benefit from the device and expects to receive 550 hospitality guests during the Tour.

The passion is the same side of town who dream of one day hosting the festival of cycling. London did not hesitate to pay 10 million euros for the Tour in 2007, bringing together more than one million spectators along the Thames. The budget for a city of Grand departure starts at 2 million euros oeut effectivelment exceed the threshold of 10 million. Fortunately, the bill is more reasonable for the typical stages: 90 000 euros for a city of arrival, 60 000 euros for a departure city or 150,000 euros for the candidates to the city of rest.Result: ASO boasts more than 200 cities bidding to host the next edition of the Tour. What up years of the race tracks.

The ASO model is it infinitely expandable? "One wonders how the public finds it among the many brands partner on the Tour. Too many companies these may influence the visibility futures, "warns Marc Mazodier, research professor in marketing at the ISG business school. Specialist ambush marketing (ie ambush marketing), it stresses the need for brands to differentiate themselves from each other by a real working partnerships activation.