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The Education Minister Luc Chatel announced that from February 2012, teachers begin their careers at the minimum wage of 2000 euros gross. About 100 euros per month. Insufficient effort according to FSU. The Education Minister Luc Chatel

Beginning teachers will start their career with a salary in excess of 2000 euros gross in February 2012, which is a "symbolic" of crossed, said Thursday the Minister of Education, Luc Chatel. "The symbolic threshold of 2,000 euros early career will be taken from 1 February 2012," said the minister during a speech at the end of his visit to the Education Fair in Paris. Beginning teachers had already received a gesture of Mr. Chatel in March 2010, so compared to "1690 euros in 2007," the rise of their gross salary is "18% in five years," the Minister added.

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The economic downturn continued in September in the major economies, particularly Germany, the United Kingdom, Italy and Brazil, show OECD leading indicators published Monday.

Declined for the sixth consecutive month, the leading indicators are below the 100 – which distinguishes the increase in lower activity – in most countries of the Organisation for Economic Cooperation and Development.

Japan, the United States and Russia are the only three countries where the leading indicators remain above that level.

The CLI for the OECD area as a whole declined to 100.4 in September from 100.9 in August to 101.4 in July.

The G7 folds 100.6 after 101.1.

Euro Disney said Wednesday it has widened its annual net loss due to deterioration in the profitability of its property development activities and increased its costs.

The operator of Disneyland Paris has recorded for the year 2011, ended September 30, a consolidated net loss of 63.9 million euros, against 45.2 million last year.

Its annual turnover to 1.297 billion, increased by 1.8%, tourism growing by 4.9% to 1.275 billion while the real estate development saw its sales drop 62.4% to 22.5 million, reflecting a major assignment.

Parks attendance reached 15.6 million visitors, 600.

JCDecaux has significantly exceeded expectations in the third quarter, posting a sales growth almost twice the stated goal, boosted by its transport division and the dynamism of France.

World number one outdoor advertising company in front of the U.S. Clear Channel Outdoor, has for the first time provided a forecast for the full year, saying rely on organic growth of about 5% of its turnover .

"The current economic uncertainties lead us to be cautious," said Chief Executive and Co-CEO Jean-Francois Decaux, in a statement, while the group's growth stood at 6.7% in the first nine months of the year .

Wall Street finished sharply lower Monday, the initial enthusiasm born of the EU summit last week's fading from investors who question now no longer on how to resolve the debt crisis in the euro area but their use.

Still Wall Street has done its best month since 1991 and many analysts believe that the worst case scenario is ruled out at this time in Europe, the stock market is ripe for a further rise, investors are turning their attention to Chinese statistics and the U.S. better than expected.

The values ​​of natural resources have suffered from the fact that the dollar reached a peak three months against the yen as a result of intervention by the Bank of Japan to roll back the domestic currency.The Nasdaq Composite yield 52.74 points (1.93%) to 2684.41.

Of the month, the Dow shows a gain of 9.5%, the S & P by 10.8% and the Nasdaq 11.1%.

The new concerns generated by the European debt situation are what feed the bankrupt broker MF Global Holdings derivatives, an event that affected financial stocks in particular.

The latter, who had engaged in heavy positions on European sovereign debt, filed for bankruptcy after the breakdown of negotiations to sell assets to Interactive Brokers Group.

MF Global transactions have been suspended. Interactive Brokers has closed up 1.05%.

Values, the S & P Natural Resources lost 4.2%.

According to the Minister of Economy, the European Commission proposal to increase the capital adequacy ratio of banks to 9% "can absorb a shock." Budget Minister Baroin regrets the refusal of PS on the constitutional question of the balance of finances

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}

European authorities began Wednesday to prepare the banks of the continent to a possible failure of Greece.

For the first time since the crisis began, bank supervisors have decided to enhance their market sovereign debt held by banks in the EU as part of the recapitalization process in progress, officials said Wednesday European source.

The EBA, which will retain a definition of bank capital similar to that used in the last series of stress tests in July, will harden further 9% threshold due to equity "hard", reflecting the wishes of Paris and Berlin and by the European Commission on Wednesday in his "roadmap" to end the crisis.

"This is an exercise prudential.It is therefore logical that the ABE values ​​sovereign debt to market value or a value very close to that market, "said a source familiar with the discussions.

Regarding the definition of capital, "it corresponds to that used by the BEA in July.This is harder than the current one but is softer than that provided by the new Basel III standards, "the source said.

Once it receives the data that are currently provided by the banks, the EBA will prepare a proposed recapitalization of institutions of systemic Twenty-September for the meeting of EU finance ministers to be held October 21 , the day before the EU summit.

ROADMAP

This will be adopted simultaneously with the new bailout of Greece, which must reduce the debt of Athens so much greater than had been planned in July and then revise upward contribution "voluntary "the private sector.

According to several European sources, the losses that private investors must accept their obligations in the Greek part of the new plan should be between 30 and 50%, not 21% as expected.

Institute for International Finance (IIF), the discount would represent 39% when using the current market prices to assess the risk profile of the country

The roadmap of the Commission also calls on members of the euro area to complete without delay the ratification of the new European Financial Stability Fund (EFSF).

Last country to have to run, Slovakia will vote by Friday, officials said Wednesday following the agreement between three parties of the government resigned and the main opposition party.

The roadmap, which calls in line with discussions held at the EBA to a building "significant" capital requirements of banks, also advocates a recapitalization through private funds, which will be supplemented by funds public and by loans from the EFSF in case of negative response from the market.

France, who insisted behind the scenes for several days to use the EFSF as an instrument of coordination in the recapitalization of banks, said Wednesday it would not appeal.

"EURO BONDS"

The other two parts of the document from the Commission concerning the acceleration of measures currently being discussed in Brussels, but designed to boost European growth and most importantly, the implementation faster than expected European Stability Mechanism (MES).

The MES, which was to come into force on 1 July 2013, finally begin to operate on 1 July 2012 according to the wishes of the Commission. It includes a device that allows a country to default on its debt in an orderly manner.

"The roadmap traces the path to the exit of the economic crisis for Europe. The partial answers to the various aspects of the crisis are no longer sufficient.We need to take the lead, "said Commission President José Manuel Barroso to the European Parliament.

"We must reach an agreement at the EU summit of 23 October," he said, also urging the leaders of the euro area to release the next tranche of aid to Greece.

He also confirmed that the EU executive would present by the end of the year a proposal to create a framework for joint programming of debt between members of the euro area, also known as "Euro bonds."

Peter Brabeck-Letmathe, the chairman of Nestlé, is sounding the alarm over soaring food prices. It could mean new revolts in poor countries. An Indonesian dried corn grows, without benefit of the inflation of commodity prices. Indonesia is now the largest importer of maize. REUTERS / Sigit Pamungkas (INDONESIA – Tags: BUSINESS FOOD) AGRICULTURE)

The food prices are expected to remain high, which could lead to new hunger riots in developing countries, said President of the Swiss group Nestle in an interview published Friday.

"We have reached a level of food prices substantially higher than we had before. They are expected to stabilize at this level," said Peter Brabeck-Letmathe in this interview with the daily Salzburger Nachrichten.

"When you live in a developing country and we spend 80% of its income on food, we feel bound to it differently from us," where such expenses are around 8%, he argued.

For him, new hunger riots like those that had rocked Africa, Haiti or Indonesia in 2008 are likely to recur. "The situation is similar, it has become the new reality," he said.

Soaring food prices this year is considered one of the reasons that contributed to the "Arab Spring" in North Africa and the Middle East.

The price increase is attributed both to speculation, climate change, increasing population, or to changes in dietary habits in some emerging countries like India, where the middle classes have significantly increased their consumption meat.

For M.Brabeck-Letmathe, the issue of water is also crucial. "We already consume today" too much water, he said, encouraging businesses and consumers to waste less.

Greece missed the deficit targets that were assigned by its international donors for this year and next, according to figures released Sunday by the Greek Ministry of Finance after approval by the Government of the draft budget 2012.

Athens expects the deficit to reach 8.5% of gross domestic product (GDP) this year, while the European Union (EU) and the International Monetary Fund (IMF) had requested that the deficit does not exceed 7 , 6% of GDP.The draft budget projects the deficit will be reduced to 6.8% in 2012, against a target of 6.5%.

"There is money three months before the end of 2011 and the final estimate of a deficit to 8.5% of GDP can be achieved if the state apparatus and the citizens act accordingly," the Ministry in a statement.

"The draft budget will be submitted tomorrow (Monday) in parliament," he says.

European shares closed higher Friday on hopes of Action of the European Central Bank and government to mitigate the effects of the crisis of sovereign debt in the euro zone and support banks.

However, caution remains the watchword.

Bank stocks recorded the highest increase in Europe with a sectoral Stoxx index which gained 3.53%.

In Paris, BNP Paribas (9.78%), Societe Generale (8.76%) and Credit Agricole (4.78%), which was this week in the eye of the storm because of their exposure to Greek and Italian debt, eventually leading to increases in the CAC 40 on market rumors paying for the government to carry out some form of recapitalization.SocGen and BNP did not wish to comment on these rumors.

The gains, however, show small-scale loss of investor confidence in the ability of governments to quickly implement practical solutions to the crisis of sovereign debt and boost savings on the brink of recession on both sides Atlantic.

This cocktail of strong concerns about the banks is causing serious losses in stock market indices.For the week, the CAC 40 dropped 7.29% in Paris and at European level the EuroStoxx 50 index dropped 6.17%.

"RAMPANT FAILURE OF GREECE"

The CAC 40 gained 1.02% Friday to 2810.111 points after touching a session in new low of 2693.21 points in the year, returning to its level in March 2009.

Risk aversion has stalled late in the session, the performance of the German government bond (Bund) and 10 years, fell in the day to a new record low at 1.64%, found its level Thursday (1.75%) at the close of stock markets.

The euro meanwhile pondered over $ 1.35 and was trading around 1.3508 dollar.

Other major European markets, London

gained 0.5%, 0.63% Frankfurt, Milan 1.36%.The pan-European Euro Stoxx 50 index has been 1.52%.

"Operation Twist (the Fed) has failed to revive stock markets. It is a terrible verdict, a confirmation that governments no longer able to stimulate the economy central banks find themselves faced with the challenge to bring to his aid, "wrote Vincent Chaigneau and Ciaran O'Hagan, rates strategist at Societe Generale in their weekly note.

"They will continue to shoot in the dark, hoping to keep away the ghost of recession.Good luck, "they said, stressing that the stress imposed on the funding of banks is" a great threat to the economy. "

Pichard for Franklin, director of Barclays Bourse France, "markets do not stop to include a default rampant in Greece (although it is true that the 'political' do nothing to speed things up) and the recapitalization of some European banks. "

Cyclical stocks such as Technip (-3.93%) and Alstom (-2.52%) recorded the largest declines the CAC 40.