The proposal of the European Commission and its President Jose Manuel Barroso to recapitalize banks is "acceptable", said Friday the French Minister of Finance Baroin. "The position of the Commission Barroso and two days ago is acceptable. A level of 9% of equity" to be achieved by European banks "by the end of the first half of next year, it ' is, "he said on Europe 1 radio.

According to him, "9% in 2012, it can absorb shock." He reiterated that this concerned primarily banks that failed the stress tests at the beginning of summer and those who have passed narrowly.Banks should try to recapitalize "on the basis of their results" by distributing less dividends and less bonus, "warned Baroin, like the European Commission." They should not do so at the expense of economic activity, credit to individuals and business credit, "he said.

"If they can not, they will do in the markets, if markets are not enough they will find partners, and ultimately there will be a limited possibility of a European coordination" for public assistance, the minister added . He again suggested that the European Financial Stability Fund (EFSF) provides that state aid to schools that need it, as its new statutes in force since Thursday so authorize.Germany believes he can do that for banks in countries which already have an international aid program (Greece, Portugal, Ireland).

Baroin But he reiterated that French banks do not find themselves in the position of having to seek government assistance. On Greece, the Minister confirmed the new position of France, which was resolved Thursday to recognize that the creditor banks would have to erase the country a majority of government debt. The discount provided to date to the private creditors of Athens, in the agreement of July 21, is 21%. "For three months the markets have evolved, they have deteriorated (…) We left at 21% July 21, it will be, it is almost certain," he said. "How high? Is being discussed."

He also felt that the figures circulating going "well beyond 50%" were "fanciful"."Three quarters of the Greek debt is held by private (…) We will not cut the whole," he said. "If it requires a private discount that is not tenable, then that will invest in Greece?" Asked Baroin.

He then said that the Heads of State and Government of the euro zone announce their decision on this issue at the summit in Brussels on 23 October, without specifying whether they would disclose the amount of the new haircut or just the principle. { P}

For the first time since late 2008, the start of the economic crisis, the number of transactions and house prices falling in France, a trend likely to continue in 2012, according to a survey by the AFP with leading real estate networks. "Sales of existing homes fell 11% in France between the 3rd quarters of 2010 and 2011, while prices fell by 2.7% between the first half and third quarter of 2011," said Laurent Vimont, Chair Century 21, a leading network of estate agents.

Paris alone, due to demand still much stronger than supply, see the prices continue to increase, reaching a new record in Q3 8556 eurs/m2, says Vimont.After a price hike of 22.5% in the second quarter, the highest one-year for 20 years, house prices in the capital will soon level off or even declined slightly, had said in early September notaries in Paris. In the provinces, seven provinces reported, according to Century 21, a fall in prices in Q3: Burgundy (-9.7%), Central (-5.5%), Lorraine (-4.4%), Provence-Alpes Côte d'Azur (-3.7%), Basse-Normandie (-3%), Nord-Pas-de-Calais-Picardie (-3.4%), Champagne-Ardenne (-1.3%).

For Mr. Vimont, the main explanation lies in the fact that "over the solvency of first-time buyers who can not afford to buy, is broken." This decrease since mid-2011 transactions and prices is confirmed by the Real Estate Guy Hiccups."Higher mortgage rates and the presidential election should result in lower overall market in 2012," said its managing director Cédric Monssu. For Nicolas Jacquet, Executive Chairman of Urbania, the next increase in the tax on capital gains on sales of rental and second homes on 1 February 2012, resulted in "significant increase in the number of terms in Sales agencies ".

But in 2012, one can "expect for 2 or 3 years down the number of transactions as a number of people who have not reached withdraw their homes from the sale," he adds . "This announcement will have a devastating effect especially that the liquidity problems of banks should lead to a restriction in the distribution of mortgages," said Bernard Cadeau, president of the Orpi network.But this rush to sell for some households that had exceeded the limit of 15 years for tax exemption on capital gains has unintended consequences. "We remind sellers that we are bound by an obligation of means, not results, and we urge our customers to agree to sign a form stating that we are not liable for administrative delays," said Gilles Ricour Bourges, President for Ile-de-France of Fnaim (National Federation of the estate).

However, one sector is rubbing his hands at the moment: the luxury real estate. "We record a 20% increase in the number of terms because it is necessary that the promise of sale are signed before November 15 to make sure that the final acts to be registered with the notaries before February 1", told AFP Charles-Marie Jottras, Chairman Daniel Féau real estate."Non-standard goods have been no slowdown in demand, on the contrary. The category of quality goods, worth over EUR 1 million, did not suffer either in the capital and stations, sea or mountain fashion, "says Barnes network in a statement.

However, markets have reduced their earnings during the afternoon for lack of more precise statements confirming the rumors.

The CAC 40 index finished up 1.75% to 2859.34 points (final closing), while London has been 0.45%, 2.87% Frankfurt, Milan and 3.32% EuroStoxx 50 2.84%.

The index of the banking sector has been 3.57% and 6.42% of the insurers, with an increase of 8.18% for Axa, from 5.44% for Societe Generale and BNP Paribas for 3.99%.

Vivendi's subsidiary is accused of several violations by the Authority of the 59 commitments made in 2006, some considered "essential", what prompted the regulator to decide on the first withdrawal of authorization in its history, plus a fine of 30 million euros.

The Authority one month left to the parties concerned to inform him of the operation again, which would be studied on a new basis.

"We will put everything flat.The authorization of 2006 no longer exists.We will discuss again all under the market situation today, "said Bruno Lasserre, President of the Authority, at a press conference.

The regulator could start by redefining the characteristics of the market affected by the operation, by drawing a border more or less clearly between the segments of pay television and free.

With a dominant position in pay TV, Canal + is a relatively small player in the free.

"There is no doubt that we will do a thorough review of this matter," whose outcome is likely to be one of two options: allow the operation by asking for new commitments to Canal +, or give a green light by imposing unilateral orders, said Bruno Lasserre.

Canal +, for its part that it would initiate action against that decision, saying it "is of course not possible to challenge a merger nearly five years."

The pay-TV may request that the State Council an interim order to suspend the regulator's decision, giving the necessary time to the State Council to rule on the merits of the case.

CONCESSIONS

The regulator's decision comes as the acquisition of a 60% of Canal + in the television division of the Bolloré group – which includes the general channel Direct 8 Direct Star and music, as well as advertising – is waiting for the green light authorities.

"Channel is clearly in a dominant position in the pay and instead abused.Now he wants to go in the free, "said one media analyst who declined to be named.

"I do not think that this decision will undermine the 'deal' with the GST or cancel Bolloré, but all this will lead to new commitments by Canal in both the paid and free."

Canal + has struck a blow in early September by announcing the takeover of two DTT channels free of Bolloré, a process seen by experts as a threat to TF1 and M6, and is expected to reshuffle the cards in the French media landscape .

If it is validated, the transaction would enable Canal Plus to have a total of three free channels on DTT counting i> Télé, making par with TF1, owner of NT1 and TMC, and distancing M6, W9 holder.

The subsidiary of Vivendi, however, could be asked of concessions by regulatory authorities, because the regulations up to seven the number of possible frequencies for the TNT group. However, the acquisition of Direct 8 Direct Star and bringing to eight the total channels of Canal +, not counting its draft free channel called Canal20.

Examination of the application and Direct 8 Direct Star will be done separately from that of the GST case, but delays are likely to be concurrent, around six months, said Bruno Lasserre.The Authority, he added, has not received any notification for the time of Canal + Group for the second file.

President Barack Obama will propose Monday to raise taxes on millionaires so that they reach at least the same percentage of their income than that applied to middle-class taxpayers, said Saturday the New York Times.

Citing government officials, the newspaper says Obama will present a draft on this issue during a speech at the White House, he calls the "Rule Buffett", named after the multimillionaire Warren E. Buffet.It was recently pointed out that the richest Americans pay a smaller proportion of their income in federal taxes than middle-income employees.

Profits on investments – such as profits from capital, dividends or premiums paid to investors and holders of risky investments – are taxed less than wages, in fact, explains the New York Times. In addition, those receiving more than 106,800 dollars do not pay Social Security tax.

The newspaper said Obama will not show the tax rate or clear it intends to apply the amount it hoped to achieve through this measure and will not provide further details, these should be included in a program long-term deficit reduction.However, it will call savings of $ 300 billion over ten years of health insurance for the elderly and medical aid to the needy.

A joint committee of Congress is working on a bipartisan agreement on the budget to be presented in late November while the Republican representatives opposed the project of the president to tax the companies in the sectors of oil and gas and individual income above $ 200,000. The tax would only affect 0.3% millonnaires taxpayers, less than 450,000 of the 144 million returns recorded in 2010, according to The New York Times.

The statement came after the German banking association BdB on Wednesday cut its forecast 2.8% growth in the country for 2011, while the RWI Institute said that the risk of a recession had increased.

While the EU finance ministers meet Friday in Poland to discuss among others the debt crisis, Merkel reiterated her opposition to Eurobonds and felt that Europe should consider the possibility of intervening in the medium term to States that fail to meet their duty of fiscal consolidation.

Rebel fighters swept into the night from Sunday to Monday in Tripoli, the Libyan capital, where thousands of people took to the streets deserted by the forces of Muammar Gaddafi who have appeared against little resistance to the insurgents.

At 6:50 GMT, Brent North Sea yielded 3.40 dollars (3.13%) to 105.25 dollars.For his part, U.S. crude gave up about a dollar to 81.18 dollars, also sealed by the gloomy outlook of the global economy.

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.

Most of Libyan crude supplied European refineries and disruption of those exports has pushed the price of Brent crude to a peak of two and a half dollars to 127.02 in April.

Full recovery of Libyan production could take years but the rebels said they hoped a quick return to normal. Analysts said a production of one million bpd could be achievable in a few months.

Bercy has "formally" denied rumors Wednesday of degradation of the French debt rating by a rating agency that led to a new collapse of the entire stock market. "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," it was stated in the entourage of the Minister of Finance Baroin.

Rating agencies Moody's Investors Service Inc.., Standard and Poor's Corp.. Fitch Ratings and have in fact all three confirmed Wednesday the sovereign debt rating of triple A with a stable outlook they attribute to France.Fitch confirmed the note on May 31 and S & P, December 23. Moody's does not usually confirms his notes.

"It's totally false", it was stressed the same source, when asked about the rumors, which also claimed that this is why French President Nicolas Sarkozy interrupted his holiday to hold a crisis meeting at the Elysee Palace . After the meeting, the Head of State said that new measures to reduce the deficit will be announced on August 24.

European shares are down sharply divided Wednesday, two hours before the close, led by falling bank stocks as a result of new concerns fueled also by the situation in Greece and the decline of Wall Street opening. The New York Stock Exchange opened sharply down Wednesday also unable to continue the strong rebound yesterday.In Paris the CAC-40 plunged almost 5% hit by bank stocks.

Last month, 117,000 non-agricultural jobs were created, according to the Labor Department.

Economists on average had forecast 85,000 jobs created.

Statistics disappointing June (18,000 births) was revised to 46,000.That of May was also revised upwards from 25,000 initially to 53,000.

Overall, the private sector has created 154,000 jobs, against 115,000 expected.

The unemployment rate retreated slightly to 9.1%, while analysts expected the same from one month to the other at 9.2%.

In July, 24,000 manufacturing jobs were created, while 11,000 were expected.

The public sector has in turn eliminated 37,000 jobs, after having destroyed 39,000 in June.

Around 9:15, the CAC 40 index lost 0.79% to 3763.27 points at the start of the day a national holiday in France that could be very active, stakeholders who have opted for a long weekend.

Moody's warned late Wednesday it may lower the rating of "Aaa" – the best – the United States if President Obama and the Republican opposition failed to agree on raising the federal debt ceiling to time wanted to avoid a default.Discussions between the President and the Republican leaders have been strained Wednesday, and do not seem on the verge of success.

Fitch, for its part, S & P as a month ago, degraded to "CCC" the note of Greece.

The banking and technology are among the largest declines the CAC 40, while Lafarge, which has entered the active phase of sale of its gypsum in Europe and South America, is the only value of the CAC 40 in green (1.69%).

Alcatel-Lucent (-2.44%) and Capgemini (-2.0%) recorded the largest declines in the index.

Company lost 0.75%, 0.49% Credit Agricole and BNP Paribas 0.2% after opening down more than 1.5%.

London was down 0.58% from 0.32% and Frankfurt.