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Right in the debate on a more vigorous European Central Bank (ECB) in the rescue of the euro, the U.S. ambassador to the European Union said it had "the potential" to resolve the debt crisis. ECB

The U.S. ambassador to the European Union suggested Tuesday that the European Central Bank had the "potential" to do more to resolve the debt crisis in the euro zone, while the debate rages in Europe on this issue. "We are following with keen attention that the European Central Bank is able to do and the potential it has to do more" to the crisis, said William Kennard, in a meeting with some journalists in Brussels.Many economists believe that only the ECB is now able to effectively firefighters to extinguish the fire and should follow the example of the Federal Reserve (Fed). The U.S. central bank acts as "lender of last resort" for the administration by buying unlimited market U.S. Treasury bonds.

"At the peak of the (financial) crisis that we experienced (USA), we were able to use the Fed in a manner different from that in which Europe can use the ECB. It s' acts of a fundamental structural difference, "said the ambassador. Mr. Kennard said would not know how to change the debt crisis. "The outcome of this crisis is quite unpredictable, we do not know how it will be resolved and I think nobody knows," he said.

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France announced Thursday it had called for an investigation to the European financial markets and the AMF after transmission error by Standard & Poor's a message on its sovereign rating.

The Minister of Finance, Baroin said he asked regulators to investigate the causes and possible consequences of the mistake, which he described as "quite shocking rumor of information that do not match any foundation".

"We will not leave any negative message through. It was a strategy, we have an appointment in terms of deficits that is fixed.It will not change one iota, "he said in Lyon on the sidelines of a conference of the economy.

Standard & Poor's has sent a message to some clients who might suggest that the rating of France had been changed.

The rating agency said in a statement that following a technical error, a message was automatically sent to some subscribers suggesting that the credit rating of France had been changed.

"This is not the case notes of the French Republic are AAA/A-1 + with a stable outlook, and this incident is not related to any monitoring activity notes," she said. "We are investigating to determine the cause of this error."

Alstom said on Friday plan to establish up to two production sites offshore wind in France if the consortium to which it belongs is held in satisfactory conditions at the end of the call for tenders launched in July by the government.

These two production of components and assembly of offshore wind turbines six megawatts – one in Saint-Nazaire (Loire-Atlantique) and one in Cherbourg (Manche) – could generate up to 1,000 direct jobs and 4,000 indirect jobs, the group argues in a statement.

The specialist in energy infrastructure and transport is part of a consortium of six companies led by EDF Energies Nouvelles, which also includes Dong Energy Nass & Wind Offshore, Offshore wpd Poweo and ENR.

Alstom is prepared to invest up to 100 million euros in these two sites "if the consortium is selected at a level that ensures a critical industrial scale."

The project, covering a total capacity of 3,000 megawatts (MW) in five areas, corresponding to half the target set by the government to install 6,000 MW offshore by 2020, equivalent to almost four times the power of a nuclear reactor EPR.

GDF Suez, together with Vinci and Areva, are part of a rival consortium.

Candidates have until January 11, 2012 to submit their bids. They will be screened in April 2012 and retained permanently in 2013.

European stock markets closed sharply higher Friday driven by hopes for concrete decisions for the euro area. Update on four major issues of the summit on Sunday. The European Council President Herman Van Rompuy, Nicolas Sarkozy and Angela Merkel in Brussels.

European stock markets have taken the bull by the horns Friday night, driven by renewed optimism for two days of the EU summit must respond to the crisis in the euro area. Paris ended up 2.8%, Frankfurt 3.5%, London 1.9%, 2.8% and Madrid. The eyes are now fixed on Brussels, which is expected to announce concrete steps Sunday to save Greece, prevent contagion of the crisis in fragile countries in the euro area, and reassure the markets.Update on four major issues in this summit.

The loan to Greece is he paid?

Greece has a positive decision of the creditors (IMF, EU, ECB) after passing the test on Wednesday and Thursday of the street. Parliament passed a new law Thursday austerity which provides further wage cuts and layoffs in the setting of 30,000 employees. But if the payment of this sixth installment of the loan of 110 billion seems to be accepted by Brussels, the IMF's involvement is less. The institution is actually more pessimistic than Europe on the development of public finances of the country.

What level of discount for Greece?

The discussions relate "50%" according to a European source. This level imposed on the country's private creditors would erase 67.5 billion euros of Greek debt that will culminate later this year to 357 billion euros (about 162% of GDP).That's a lot more than what was agreed at the Summit of 21 July, the discount was set at the time to 21% of the commitment of private creditors. If this hypothesis is confirmed, this discount will remove 20% of the debt. The Union of Greek Industrialists (SEV) held Friday consequences "dramatic" if this level should be imposed on private creditors. But this statement should not weigh very heavy in view of the issues … However, the whole question is about the ability of Europe to offer a discount to private creditors 'voluntary' of their claims. For without this principle, the credit event could be delivered, which would open the door to bankruptcy of the country.

How much money to recapitalize the banks?

To allow banks to withstand losses on the country's debt, the EU will reassess the capital ratios of European banks to the tune of 9%.For this, the European Banking Authority (EBA) has assessed the need for recapitalization of banks from 80 to 100 billion euros. The question is whether this amount will be enough to reassure the markets knowing that the IMF rather evoked a level of capitalization to 200 billion euros. In all cases, the major European banks were against a forced recapitalization. And warned that, given the difficulties to obtain financing, this would lead them to reduce the size of their balance sheets. In other words, to reduce their lending activity.

How to strengthen the EFSF?

This is where things get complicated. For Paris and Berlin have not yet found agreement on the issue. For France, it would give the banking license to the European Financial Stability (EFSF) to enable it to refinance with the European Central Bank (ECB).Leverage and the ability to fund intervention limited to 440 billion euros that can lift the markets. Paris also wants the ECB to continue to buy bonds fragile as it has done for over a year. But Berlin and the ECB refuses, and instead want to change the Fund's insurer. It would ensure any losses would have to suffer the investors in the bonds of fragile states up to 20 to 30% in case of difficulty in these states to honor their commitments. This idea has received support Friday from 10 major European banks and insurers. But here, in addition to France, Spain and Italy do not agree. Rome and Madrid, this will create a rate difference between bonds and debentures. "No one in a financial crisis, venture to purchase securities that need a crutch," said EU official.This is mainly because of these disagreements has been decided a second peak of the euro area, next Wednesday.

This increase in tax rates, btisée "Buffett rule", only affect 0.3% of taxpayers, less than 450,000 people. President Barack Obama issued Tuesday, August 2, 2011 text authorizing the raising of the ceiling of U.S. debt.

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 Tokyo Stock Exchange ended Wednesday on a sharp decline, yielding 1.14% in a climate of anxiety about the continuing debt crisis of the Greek, which encouraged profit taking after Tuesday's rebound.

The Nikkei lost 97.98 points to 8518.57, a lowest level in two and a half years, and Topix, broader, sold 8.13 points (1.08%) to 741.69.

The highest exposure to Europe were particularly hard hit.Canon has lost 4.08% to 3,295 yen.

In early trading, some purchases on the cheap recently battered shares pushed the Nikkei up to 8671.24, but profit-taking quickly reversed the trend.

The values ​​of the video game industry, fell sharply Tuesday after a presentation judged disappointing by Nintendo, have recovered slightly.Square Enix has made 0.48% to 1,475 yen after losing 3.9% on Tuesday.

Also on the rise, Sharp has benefited from the announcement of an expected increase in sales in Indonesia to gain 3.3% to 595 yen.

Ricoh has instead plunged 1.67% to 648 yen after lowering its target price of 900 yen to 600 yen by Macquarie Securities, who expects weak demand for copiers in the second half of the fiscal year.

Wall Street closed higher Wednesday, a new set of economic indicators back feeding the hope that the Federal Reserve gave a new boost to the economy at its policy meeting in September.

But the fact is precisely that economic indicators have generally been disappointing Wall Street has been reluctant in the afternoon and the three major indexes are now spent in the red.

The Dow Jones gained 53.58 points (0.46%) to 11,613.53 points. The S & P 500 is 5.97 points (0.49%) to 1218.89 points. The Nasdaq Composite Index advances 3.35 points (0.13%) to 2579.46 points.

On the month, the Dow Jones loses 4.4%, the S & P gives 5.7% and the Nasdaq was down 6.4%.This is the worst month of the S & P since May 2010.

However, since the beginning of the year, the Dow shows a slight gain of 0.3%.The S & P 500, meanwhile, has still gained almost 9% in seven of the last eight sessions, led by sectors sensitive to the economic cycle.

The minutes of the meeting of the Fed's August 9, released Tuesday, shows that it has proposed a series of actions to support the U.S. economy at its meeting in early August, some members calling for bold action.

At annual meetings of Jackson Hole, held last week, the Fed chairman Ben Bernanke had said she would meet two days in September, instead of originally planned, to reflect on the possibilities of creating a new monetary stimulus.

In terms of statistics, job creation in the private sector in the United States were below expectations in August, according to the results of the monthly ADP released Wednesday. It was created 91,000 jobs in August, while the market was expecting 100,000.

Moreover, the index of purchasing managers in the Chicago area fell in August, slightly less than expected, while falling to the lowest since November 2009.The index published on Wednesday in August falls to 56.5 against 58.8 in July and a consensus on giving 53.5.

In contrast, industrial orders rose 2.4% in July in the United States, more than expected, driven upward by the strength of the transport sector, said Wednesday the Commerce Department.

The fact that, according to sources, the U.S. Department of Justice has hired Wednesday a procedure to block the sale of T-Mobile, U.S. subsidiary of Deutsche Telekom, AT & T, for reasons of respect for competition weighed on rating during the session.

AT & T lost 3.85% and the S & P Telecommunications 1.63%.

Some values ​​high tech weighed on the Nasdaq, which explains its low gain closure.Apple sold 1.32% and 2.7% Nvidia for example.

Good performance of industry, however, with their S & P gained 0.68%. Caterpillar is 1.3% and 1.1% Honeywell International.

The Japanese economy contracted less than expected from April to June thanks to the quick restoration of supply chains after the earthquake of March, but the soaring yen and slower global growth darken the hopes of recovery.

Economists expect the third world economy sketch a rebound from July to September, with probably the growth rate the highest in developed countries, as exports and industrial production will return to their levels before the earthquake and tsunami that devastated the north.

According to official figures released Monday, the gross domestic product (GDP) fell 0.3% in the second quarter, after 0.9% from January to March.Economists on average had expected a contraction of 0.7%.

On an annualized basis, the economy contracted by 1.3%, while economists expected a decline of 2.6%.

These figures better than expected boosted the Tokyo Stock Exchange, which in turn took the road to recovery from the European and U.S. markets late last week with a gain of 1.37% for the Nikkei.

However, the impact of the debt crisis in the euro zone on global growth might deprive Japan of export opportunities they need to start from the front, while pushing up the yen, safe haven, which will complicate doubling the equation for exporting companies.

"The economy will show a recovery in the shape of 'V' between July and September when supply chains are recovering and will help boost exports," notes Yoshiki Shinkai, economist at Dai-ichi Life Research Institute.

"But the momentum will weaken from October to December with the slowdown in the pace of recovery in external demand, even if (GDP) will not fall back into contraction.In fact, it is even possible that the global economy begins to sputter. "

Restocking AND PUBLIC INVESTMENT

In this context, the Japanese Minister of Economy Kaoru Yosano urged the Bank of Japan (BoJ) to help save the recovery by maintaining its strong liquidity injections and ultra-accommodative policy.

"We will closely monitor the impact that Japan's economy on the rise in the yen and the increasing uncertainty about global growth," he told reporters.

The yen, buoyed by the weak dollar, has appreciated by about 5% in just one month, approaching its historic high of 76.25 yen to the dollar, a level not taken into account by companies Japanese to build their profit forecasts.Around 0930 GMT Monday, the greenback was trading at 76.85 yen.

In the second quarter, the Japanese economy has performed better than expected thanks to the restocking of business and higher public investment, since the first six quarters, as part of the reconstruction effort.

Consumer spending, which accounts for 60% of the economy, fell 0.1% from April to June, down less than expected in favor of special items such as the transition to digital television that fueled TV sales.

But external demand – net exports – have reduced GDP by 0.8 percentage point, the disaster of March 11 that prevented some manufacturers deliver their products outside the archipelago.

And some analysts see the slow growth in business investment spending (+0.2% against 0.5% expected) a sign of their distrust of uncertainties about the economy.

The perspective attached to the sovereign rating of the United States could be raised to stable if the bipartisan agreement on reducing the U.S. deficit is being implemented and if the tax cuts of the Bush era are eliminated, said Monday director of sovereign ratings Standard & Poor's.

In an interview with Reuters Insider, David Beers warned that the rating agency would closely monitor whether the U.S. Congress is at what he has committed.

S & P on Friday denied the United States of the note "triple A", giving them now rated AA + coupled with a negative outlook.

David Beers reiterated that there was at least one in three chance that the U.S. sovereign rating is lowered again within 6 to 24 months.

The major European stock markets closed Friday up, welcoming the new plan of aid to Greece, even if the solution found yesterday by European leaders do not mean the end of the crisis.

The pan-European FTSEurofirst 300 index closed up 0.52% at 1108.90.

At the Paris Bourse, the CAC 40 was 0.68% (25.95 points) to 3842.70 points.For the week, the index gained 3.12% and returns to the green on his performance since the beginning of the year (1%).

In Frankfurt the Dax finished 0.50% progress to 7326.39 points, while the FTSE in London has been 0.60% to 5935.02.

Despite significant gains banks Greek, European financial stocks have returned mid-afternoon to end the trading session in negative territory as investors preferred to take profits before the weekend on fears related to the execution of Greek aid plan.

Stoxx index of bank stocks in Europe dropped 0.18% against a gain of 0.8% at midday.

UniCredit has lost 4.56%, 2.83% Intesa Sanpaolo, Societe Generale and BNP Paribas 0.41% 0.21%, compared to clinching more than 1% in mid-session.

The default situation declared by the rating agencies in Greece could also have consequences difficult to predict.The agency Fitch Ratings has already announced it will place the issuer credit rating of Greece in partial default on remand.

The euro meanwhile back on the foreign exchange market after surging the day before at a high of 1.4440 dollars in two weeks, investors dissecting the details of the plan of aid to Greece to assess its ability to prevent a contagion of debt to other countries using the euro.

German Bunds are in turn less desirable than bonds Greek, Irish and Portuguese, which rose in response to the new plan to help Greece.

The yields of the Greek loan to 10 years have gone below 15%, boosting their decline started the day before.Yields paper Greek neighborhood of two years now 28.2%, while they still exceeded 40% at the eve of the euro area.