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He assured that the draft prepared by the Tax Commission in Brussels would be considered by the Heads of State and Government of the EU "at the beginning of this year," and promised that France "will fight" in order to so that it is put into service by the end of next year.

The Head of State expressed satisfaction that now "a number of countries have joined the battle of France", quoting indiscriminately the European Commission, Germany, Spain, Argentina, African Union, Ethiopia, South Africa and Secretary General of the UN, which he said Brazil "who said his interest in the process."

French deputies adopted Tuesday by 308 votes against 203, majority against opposition, the first part, the recipes, a draft budget law for 2012, which already seems overwhelmed by the failure of growth.

The Senate will consider this text as from 17 November.

At the end of this reading by MPs, the projected deficit for 2012 amounted to 80.321 billion euros, a reduction of 1.451 billion euros compared to the initial deficit was expected to 81.772 billion euros.

But the draft budget for 2012 is built on a growth assumption of 1.75% which, because of the crisis, is considered "optimistic" by many and the government has already announced that new measures would be taken if necessary.

Prime Minister Francois Fillon praised Tuesday the UMP group for his "outstanding work", reported a number of members present at the weekly meeting of the majority group.

"You have been consistent. What you have done is remarkable," he said, referring to the group's decision not to practice in bidding and its amendments have made nearly $ 1.5 billion 'savings.

"This is a true and budget.It is solid, serious and responsible, "said Jerome Chartier UMP.

A BUDGET FOR EVER CADUC PS

But the spokesman of the Socialist Group in this debate, Pierre-Alain Mute, called the budget "to the list of measures which emerges Prévert no other logical that blind and massive austerity."

"It's unfair and a budget already spent," he said.

For Pierre Moscovici, a relative of the Socialist candidate for president in 2012 François Hollande, "It's surreal."

"We vote on figures known to be counterfeit," he told reporters.

Among its main measures, the Finance Act 2012 provides for taxation of high incomes, a tax on drinks containing added sugars and artificial sweeteners, a reduction of real estate gains in some cases for the sale of a residence secondary school.

After this vote, Members should begin to review the draft law on financing of Social Security (Social Security Financing Bill) 2012.Only 2 November they will begin to discuss the second part of the budget, the expenditure.

The Assembly will vote Nov. 16 by a solemn vote of the entire draft budget law for 2012 that the Senate will consider from the day in public.

The final vote on the draft budget for 2012, the last of the five-year term and is expected by mid-December.

Bic confirmed on Wednesday its major predictions for 2011 despite the economic downturn and increased competition, both of which affected its sales in the third quarter.

The group aims for its Consumer division (pens, lighters and disposable razors), which generates 85% of sales, growth in annual sales on a comparable basis over 5% and a margin increase from the last year.

But the prospects for the division of advertising and promotional products (APP) are darker: Bic expects a decline in sales on a comparable basis "just under 10%" and a line "similar to that of 2010 ".

In the third quarter, sales of Consumer division rose 3.3% on a comparable basis (exchange rates and constant perimeter) but decreased by 2.1% as reported at 391.6 million euros .The PPA has fallen 10.0% compared to 76.6 million (-17.4% as reported).

The total quarterly revenue and a poster-like growth limited to 0.8% (-5.0% as reported).

In the first nine months of the year, sales to 1.354 billion euros, up 3.8% on a comparable basis (+6.8% for the consumer division, -10.1% for APP ), but fell back by 0.3% as reported in 1354.3 million.

Gross margin for the nine months rose 1.8 points to 49.1% of net sales and operating margin reached 23.5% standard, 3.2 points higher than last year.

"The Consumer activities remains strong despite a challenging economic environment and, most importantly, the group's profitability remains above historical levels," said in a statement the Director General, Mario Guevara.

About APP, he added that "the continued economic downturn and the challenges of integrating this activity was delayed more than we had originally anticipated, a return to growth" and evokes " necessary adjustments, "without elaborating.

In exchange, the action Bic ended Tuesday 65.61 euros. The stock has gained 2.1% since the beginning of the year while the CAC 40 index yields 17.44%.

European shares opened down Wednesday as investors took the excuse "no" to the strengthening of Slovakia's EFSF to continue to take some profits after a period of strong growth.

In Paris, around 9:25, the CAC 40 index lost 1.03% to 3121.16 points, while the Eurostoxx 50 yields 0.91% and 0.91% Eurofirst 300.

The results below expectations Alcoa, attributed to a slowdown in growth, also weighed, including the metal values.

"The impact (of the 'no' Slovak) seems limited, since operators only imagine evil Slovakia could jeopardize such a process aid to Europe, especially as the Troika suggested that the next tranche financial aid to Greece would probably be released soon, "said Saxo Bank in a note.

The euro is stable against the dollar, halting a rally that was motivated by the hope that the Europeans take the necessary measures to stem the debt crisis.The European currency is trading at 1.3647 / 1.3647 dollars against 49 the previous day in the afternoon.

A barrel of Brent is also stable at 110.75 dollars, after five sessions in the green, OPEC has reduced its forecast for growth in global demand.

The financial and cyclical stocks are once again at the forefront of the correction, with a decline of 1.5% of commodity indexes and automotive and 1.2% of the index of bank stocks in Europe .

Accor announced Wednesday an increase in operating income in the first half in line with the expectations for an acceleration of its business and cost control.

The first European hotel group also reported in a statement of continued positive trends in July despite a less favorable base effect in the first half.

"Trends in the second half are carried by the strong performance of the summer," said he.

Operating income stood at six-monthly 199 million euros, up 44% at constant scope and exchange rates.

The group does not provide forecasts for operating income for the year.

Accor shares closed up 0.98% to 23.115 euros on Tuesday, giving a market capitalization of 5.24 billion. It has lost 30.6% since the beginning of the year.

Demand clear messages from their leaders, more and more Germans express their defiance against the German chancellor to leave the euro zone of the crisis, according to a survey. "The Chancellor did not demonstrate any leadership capacity in the current situation," according to political analyst Carsten Koschmieder.

The Germans suspect more capacity of Chancellor Angela Merkel to solve the financial crisis in which Europe seems to plunge every day. They have a 55% "somewhat confident" and 20% "no confidence" in the conservative-liberal coalition government out of the euro area the storm, according to a survey by the Institute Infratest Dimap and broadcast Friday by the public channel ARD.

These concerns are explained first by the problems of perception of a clear policy."The Germans yearn for clear positions on the part of leaders and now it is not the case," said Richard Hilmer, director of Infratest Dimap. And Carsten Koschmieder, a political scientist at the Free University of Berlin, to abound in his direction: "These figures are plausible," he said to AFP. "The Chancellor did not demonstrate any leadership capacity in the current situation. Citizens expect a plan and Angela Merkel is silent."

Having delivered Tuesday with French President Nicolas Sarkozy a message on the economic governance of the euro area, but without going into details, Merkel was killed. "That may be good for markets, which startled every statement, but that does not restore public confidence," thought Mr. Hilmer.And in fact, the Franco-German summit did nothing to fear swept the world stock markets, all victims of this week a panic fueled by sluggish growth.

The Germans are more cautious vis-à-vis Nicolas Sarkozy. According to the survey of the institute Infratest Dimap, 63% of respondents said they had "little confidence" and 20% "no confidence" in the French president. Only 15% have "high confidence" and 2% do not know. A sentiment shared by the French, Harris Interactive poll published on 11 August by the daily Le Parisien / Today in France: they would be 46% to have more confidence in the Chancellor and Mr. Sarkozy (33%) to "avoid" a new financial and economic crisis.

The scope of these figures, however, is minimized by Baasner Frank, director of the Franco-German Institute in Ludwigsburg, "the grass is always greener on the neighbors.The French have an idealized vision of Merkel, who they consider serious and stable ". Baasner says, the distrust of the Germans vis-à-vis the Merkel government" is not surprising. "He points to the Liberals ( FDP), junior partner in his coalition, which after the electoral debacle in several local elections speak loudly to try to exist. "Their presence does not help," said he.

Proof of the cacophony in Berlin, the Vice-Chancellor and Minister of Economy, the Liberal Philipp Rösler, Friday proved very reserved in respect of a European tax on financial transactions, yet offered no more later than Tuesday by Chancellor and French President. "It would be easier to form a grand coalition with the Social Democrats", currently in opposition, says Baasner."At least, none of the two parties would fight for his political survival and it would be easier to adopt a strategy for the long term."

Total results released Friday were down in the second quarter, mainly because of maintenance on its facilities and unrest in Libya, but said he was "very confident" in the second half.

Third European oil company by market capitalization, behind Royal Dutch Shell and BP, Total also said that the second part of the year would be marked by the first results of oil wells "high stakes" and that it would approve several projects, including Australia and Russia.

"Total tackles the second half of 2011 very confident in its prospects for profitable growth for all its stakeholders," said CEO Christophe de Margerie, said in a statement.

Chief Financial Officer Patrick of Chevardière, also confirmed the investment budget of $ 20 billion for 2011 and indicated that Total had hoped to conclude an agreement before the end of the year to sell its refinery Lindsey UK, including the group regularly announces the sale as imminent for almost a year and a half.

"It is extremely difficult to sell a refinery today, but we continue in this direction and we want to sell Lindsey," he said during a conference call.

Excluding items, net income for the group amounted to 2.794 million euros in the second quarter (-6%) at a level below the 2.852 million expected by analysts surveyed by the editor of Reuters, for a number of Business 45.009 million (+9%).

"VERY RARE ON THE PART OF TOTAL"

Net income Group share reached EUR 2.726 million (-12%) by including an after-tax inventory effect negative € 74 million and other non-recurring items.

Where Shell and BP have announced reductions of respectively 2% and 11% of their production in the second quarter, Total fell by 2% to 2.311 million barrels of oil equivalent per day, a level consistent with 2.310 million expected by analysts.

Patrick of Chevardière, however, confirmed that the group's production should be stable this year compared to 2010 and 2012 would be "a very good year" in this field.

At 16:15, the title Total reduced its losses but still blamed a decline of 1.9% to 37.63 euros, that bore his fall to nearly 5.1% since the beginning of the year.

Analysts pointed out that the oil group had just missed the consensus in terms of adjusted net income. "It should be noted because it is very rare on the part of Total, which is very consistent," said one of them in a note.

Given its new quarterly dividend policy, the group plans to pay a deposit in December on the second quarter of 0.57 euro per share, unchanged from that announced in the first quarter.

Threads to reduce the deficit and raise the debt ceiling are apparently still at an impasse. In fact, Democrats have accepted most of the claims of the Republicans seeking a final concession. Explanations. The Republican chairman of the House, John Boehner

Small eight days between the United States of default and financial armageddon that would follow. Nothing to do: Republicans and Democrats still opposed to the terms of a deficit reduction plan to accompany an agreement on raising the debt ceiling, which in May reached its limit of 14,300 billion.

President Barack Obama expressed confidence Monday that a compromise was still possible to avoid that outcome disaster. Except that compromise, the Democrats have done it since the beginning of the crisis. A few months ago they wanted to simply raise the ceiling.He had not reckoned that they needed the agreement of the Republicans, and that they had much benefit from this situation of dependency to require counterparties budget.

The Democrats, therefore, first proposed to reduce the deficit 2.4 trillion, including $ 400 billion would come from tax increases. Faced with the refusal of the Republicans, they then proposed a plan that would reduce the deficit of 4000 billion, of which one billion would come from tax revenues.The Republicans did not want to hear about tax increases, the leader of the Democrats in the Senate, Harry Reid, came Monday with a plan that gives almost all of the main claims of the Republicans:

First he proposed spending cuts of 2,700 billion over ten years, more than 2,400 billion dollars for raising the debt ceiling needed to operate until 2013.

Then he accepted the creation of a committee charged with developing a bipartisan package of deficit reduction that would be protected against any future amendments or filibuster.

Last but not least, he gave up any new tax measure to achieve its goal of reducing the deficit. Yet Obama had insisted from the beginning the need to raise taxes on the wealthiest households.Monday noon yet, the president said: "we can not only reduce our deficit by cutting spending.

Yet despite all these setbacks, the Republicans continue to reject the proposals Democrats. Critics are rather vague: the president of the House Republican John Boehner, said that the plan is "full of gadgets," he does "no real change in the structure of government expenditure" and not not address the major social programs. He now wants to go further by making voting a constitutional amendment that would impose strict limits on future spending. Exceeded their cause automatic cuts in spending.

In fact, the only real sticking point is purely political: Democrats plan approval of debt enough to hold until 2013, that is to say, which can last until after the presidential election in November 2012.They fear that a similar crisis would set back chances for re-election of Obama. It is precisely for this reason that John Boehner is trying not only to validate an initial recovery. He would escape the non-payment in the short term but would require Obama to revisit a second increase, just to put him in trouble on the campaign trail.

After Moody's, S & P plans to degrade the United States, while negotiations between Republicans and Democrats always stumble to avoid non-payment of the first global economy. Barack Obama October 31, 2010.

The rating agency Standard and Poor's warned Thursday, July 14 it was considering lowering the rating of financial solvency of the United States because of the impasse of political negotiations to avoid a default in the country. "We now think we could lower the ratings of the United States in three months," wrote S & P said in a statement, referring to the note that she attaches to the long-term debt of the U.S. Federal State and is the best possible, AAA.The decision "reflects two separate but related problems," the agency wrote.

"The first problem is the persistent failure to raise the ceiling of U.S. public debt in order to allow the federal government to insure scheduled payments related to its obligations on the debt," the statement said. "The second relates to our current view on the likelihood that Congress and the government agree in the near future on a credible plan for fiscal consolidation in the medium term budget," the agency said.Its rival Moody's announced it before Tuesday it planned to lower the "triple A" of the United States for similar reasons.

Reacting to the announcement of S & P, the Treasury Department reaffirmed that it put "new evidence that the Obama has been saying for some time: that Congress must act immediately to avoid a default on the obligations of countries and to adopt a credible deficit reduction, which has bipartisan support. " At the end of the fifth session of fruitless negotiations between the White LaMaison to President Barack Obama and parliamentary leaders for raising the debt ceiling, several elected officials said there would be no further meeting Friday . "The time for decisions has come.We need concrete projects to advance "those records, Obama said after the meeting.

Established by Congress to 14.294 billion dollars, the upper limit of the debt has been reached in mid-May The Treasury uses since their wits for the operation of the state without increasing the debt of the country but warned that they would be exhausted on August 2 and that the United States would find themselves so quickly into default, unable to borrow. Democrats and Republicans do not agree to raise the ceiling, the latter demanding in exchange for their agreement of the budget cuts without raising taxes, on a scale that the Democrats are not willing to accept.

The pressures have intensified on Sunday with British Prime Minister, David Cameron, for it prevents the group Murdoch to acquire pay-TV channel BSkyB, at least until the investigation into the scandal that is the tabloid News of the World is closed.

The best-selling Sunday tabloid in Britain bowed out Sunday by publishing its last issue, following the decision of its owner, News Corporation, not to edit it, given the excitement generated this week in Britain by revelations about his methods somewhat ethical.

News of the World is indeed alleged to have hacked for several years hundreds of voice mail belonging to the stars, to the relatives of soldiers killed in action and a teenage girl abducted and murdered in March 2002.

This case comes at the worst time for the group of Australian-American tycoon Rupert Murdoch, who is engaged in an attempted takeover of BSkyB, an operation estimated at around 10 billion euros.

Sunday, voices were raised in Britain that David Cameron intervenes in this matter.

"It should specify that the file BSkyB can not go further until the investigation is not over," said including the leader of the opposition, Ed Miliband.

The representative of the Labour Party has also said he would submit such an initiative in the House of Commons if ever David Cameron did not do.

But critics are not only coming from the opposition.

Simon Hughes, the vice president of the Liberal Democrats, who are partners in the coalition led by David Cameron called the prime minister to push the stock transaction.

The politician has also called on all members of the "Lib Dems" to do the same.