In Italy, the new Chairman Mario Monti has presented its program focused on "fiscal discipline", "growth" and "equity.""The future of the euro will also depend on what will Italy in the coming weeks," he said. "Europe is experiencing its most difficult years of the postwar period. (…) The European project could not survive a possible collapse of the monetary union. "

The euro rose slightly against the dollar

On the foreign exchange market, the euro rose slightly against the dollar the slope after reaching a low of five months yesterday at 1.3421 dollar. It evolves around 1.3479 this morning but the dollar traders believe that the downtrend remains intact.

On the macroeconomic front, investors will be watching today the publication of the indices of orders received value in the industry for the month of September, published by INSEE at noon.

Technically, the new operator is ready. Its network already exceeds largely 27% coverage, according to industry sources. A threshold that allows it to trigger the negotiated roaming agreement with Orange (the ability to take the Orange network) and open its service throughout France fast cash loans. Commercially, the teams are also in the starting blocks. Free Mobile has largely recruited and now grazes a thousand employees, including over 800 dedicated technical support. After two shops in Rouen and Troyes, a third scheduled to open within a few days in Angers.

However, Louis Giscard d'Estaing is convinced that there is still food for thought in the financing of 35 hours. He will file an amendment in the bill funding the Social Security (PLFSS) for further reduce the limit on exemptions from employer contributions on wages at 1.5 times the minimum wage (currently against 1.6). Which would represent just over one billion euros in savings, if the measure comes into force on 1 January. He even suggested to lower the ceiling to 1.4 times the minimum wage in July 2012 to "give companies time to adjust."The UMP also suggests to "a general movement of the plane of the allocations to the operators of the state" by reducing them to 3% in 2012 payday advance lenders.

"Do not replace two staff on three"

In this area, Hervé Mariton (UMP, Drôme) also proposes to "ease the regulations that impact cost." Other proposals of the Liberal "not to replace two of three officials" and "examining investments less profitable," particularly in the area of ​​infrastructure. "Do not panic about short-term savings. We will be judged on the strength and seriousness of a savings plan in the long term, "said Mariton. Special Rapporteur of the mission work jobs, Chantal Brunel (UMP, Seine-et-Marne) will propose to leave the tax deduction on home jobs "all leisure activities and relaxation."Isabelle Vasseur (UMP, Aisne), Rapporteur of the Finance Committee on Social Security Financing Bill, will propose this afternoon the establishment of "prevention, source of major savings in health" she assures.

The former chairman of the Senate Finance Committee Jean Arthuis think we need to "reduce the amount of grants to local authorities" and "to lower executive compensation operators of the state." Former budget minister, Dominique Bussereau is more cautious: "We are still on the bone. The revision of public policies (RGPP) was very effective, so that the state is under-Box at the local level, "says he.

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Thus, 4800 households taxed at the last tax bracket of 41% and thus have a taxable income of more than 70,830 euros have erased their income tax by the interplay of tax loopholes. 6497 they were last year.Meanwhile, more than 9,000 tax households have reduced their tax between 70% and 100%, according to the report on the 2012 budget Gilles Carrez quoted as saying.

In addition, the report finds that the member tax is proportionally lower in high-tax scale. Thus, households last year at the head of a benchmark tax income of more than 500,000 euros per share had a tax rate of 26% against 28.5% for those earning over 250,000 euros per unit cash advances pay day loan. The explanation is simple: the wealthy derive most of their income from capital is taxed less than income from wages.

The new tax on high incomes should correct these inequities. The tax households reporting between 250,000 and 500,000 euros will pay a tax of 3% and those reporting more than 500,000 of 4%.

But the very high income should continue to be taxed proportionately less.Liliane Bettencourt spends less than 15% of its income for tax purposes against nearly 30% on average for a living part of his work, recently castigated the PS deputy Pierre-Alain Mute. And on the other side of the Atlantic, Warren Buffett has built his own case as a symbol. The latter is crusading for the adoption of a tax on high incomes in the U.S. revealed to have paid $ 6.9 million in taxes, a rate of 17.4% of its taxable income.

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The bell sound is little more optimistic in. The experts of the French subsidiary of the Danish bank focused their attention on the delays of politicians."Speeches are encouraging to reassure the markets a while but in the absence of concrete solutions, the downward trend should continue," they said in a note sent to clients. The same applies to the specialists of the broker, "no concrete steps have been taken and so it has not been made, the euro will continue to r suffered."

Repatriation of capital in dollars

With the strong underperformance of European markets, investors, especially American, have reduced the share of assets invested in European equities. The repatriation of capital cause lift the dollar against the euro.

The downward spiral is likely to continue in the fourth quarter. Earlier this year, Saxo Bank had made a bet of one euro to 1.15 dollar. This goal seemed absurd end of April (the euro now approaching $ 1.5) no longer is.In any case, the euro could be worth between 1.20 and $ 1.25 at the end of the year. In this zone, the euro would only return to its value in purchasing power parity further point out the experts. Some exporting companies that have had the good sense not to cover may already be rubbing their hands. This is the case in particular that benefits both an aircraft carrier cycle and a decline of the euro against the dollar.

It seems that the era of the strong euro against the dollar is behind us. For individuals, it is possible to speculate down on the euro-dollar by selling the currency pair in cash in a currency broker. It may also be wise to buy put options or put options due in March (for example). This strategy can multiply its earnings but does concern a limited part of a portfolio.The current movement is also favorable to purchases of dollar assets (U.S. real estate, stocks on Wall Street …).

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"The Bundestag adopted the rescue plan of the euro

The new rescue plan foresees an expansion of European powers of the fire in the euro area, the Financial Stability Fund (EFSF), and increased its capacity from 440 to 780 euros milliarsd. "The German MPs have overwhelmingly demonstrated their sense of responsibility," responded the French Minister for European Affairs, Jean Leonetti, in a statement.

Of 611 votes cast, 523 of 620 deputies voted "for", said the chairman of the meeting Norbert Lammert. Only 85 deputies voted against and three abstaining.As expected, two of the three opposition parties, the Social Democrats (SPD) and Greens, have made their voices.

More importantly, 315 members of the coalition voted for the building according to the AFP and a Conservative MP quoted by Reuters. Clearly, Merkel would not have needed the votes of the opposition guaranteed high risk personal loans. This was not a foregone conclusion, the majority having spread its divisions, the previous weeks on this subject.

If the Chancellor had failed to gather his troops, the German government would have been seriously destabilized, fueling doubts about the survival of the coalition. Angela Merkel would have indeed been "made in Germany as a loser," said Holger Schmieding, of Berenberg Bank.

Germany is the eleventh country to approve the reform of the rescue plan initially set up in 2010 to assist countries in the euro area in need.Berlin, because of its predominant economic weight in Europe, will be the first contributor.

The vote of the Bundestag is the first in a series of three crucial. In the coming weeks, he will speak on a second plan of aid to Greece and early 2012, on a permanent rescue mechanism (MES) to succeed the EFSF.

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This difference of 97 million euros or less corresponds to that between purchases and sales made this summer by the PSG.Great animator of the transfer window was the Parisian club, now under Qatari clubhouse, has in fact spent more than $ 86 million to acquire new recruits, and he sold joureurs for 2.8 million euros. The Parisian club comes in second place teams with the most purchased during this transfer window behind Manchester City (92.25 million euros), owned by Sheikh Mansour, and ahead of Juventus Turin (85,750,000). By comparison, Lille, Marseille and Lyon, all three involved in the Champions League this season, spent 15 million respectively, 11 million and 5 million this summer.

For the record, the Argentine midfielder Javier Pastore, who came to PSG for 42 million euros, is single-handedly double the total of the purchases by clubs in Ligue 1 last year (21.7 million).The capital club up five players in the top "ten" of the biggest transfers of the summer transfer window.

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It erases two measures passed two years ago and never used: the requirement for general dense areas to give a hand to their fellow country or suburban overworked, under penalty of a fine of 3000 euros per year, and the obligation to report their leave. There were two innovations in the fight against medical deserts. But Xavier Bertrand, the successor to the Health Roselyne Bachelot, has returned to the guideline that was set when he was … his predecessor: to encourage, yes, force, no.Besides these two points, the law includes various provisions, some of which have been amended, deleted and / or re-introduced.

• Transparency partial dentures

Dentists showing the origin of crowns or bridges they intend to ask the patient to know if the prosthesis was manufactured in Europe or China. Dentists will also include an estimate of the cost benefit and the sale price of the prosthesis. He freely establish this distinction: for a total of 1000 euros, it may feel that the prosthesis is 300 euros and 700 work, or that the prosthesis is 600 and delivery 400 no fax pay day loan.

Associations rather wanted to be referred to the purchase price of the prosthesis.But the dentists, who are struggling to explain their expertise and time weigh more in price than the prosthesis, and they do not just do the "somersault" on a purchase-resale, managed to avoid it.

• Mutual: care networks "open"

Mutuals were given the opportunity, already available to insurers, to better pay their members when they are aimed at professionals with whom they have contracted. Except that these care networks should be "open" all the professionals can then join.This will not change much for the professions to insufficient numbers: what a mutual interest to "deprive" doctors scarce? But in the expanding fields, practice selection is a way to bring prices down.

• Liability specialties "at risk"

A public fund is created to cover all private health professionals sentenced to damages exceeding the ceiling of their insurance should be fixed statutorily around 8 million euros. Those who have gone out of business and are not insured are also covered. Are concerned primarily surgeons, anesthesiologists and obstetricians but all professionals (doctors, physiotherapists, nurses, podiatrists …) that will have everyone contribute.

"It's 8.674e number, after 168 years proud," said Colin Myler Saturday night, the managing editor of the newspaper, brandishing the latest of a tabloid before the 280 employees who lost, like him, they job this weekend. "And in the best tradition of Fleet Street (old street newspapers in London), we now turn to the pub," he said.

For the latter days, the draw was doubled, 5 million copies instead of the usual 2.6 million, anticipating an influx of buyers for a very symbolic last issue, with headlines such as simple "Thank you and goodbye."The first and last pages were composed of a collage of the most famous one in recent years: revelations of sulfur on the private lives of stars, footballers, members of the royal family and politicians, and various high-profile scoops.

The sacrifice of Murdoch as the British press with the most -7.5 million readers every weekend, has caused a very strong emotion, leaving no one indifferent in the country.

"Toxic" assets

But for many media experts, the name News of the World, soiled by the illegal wiretapping of some journalists between 2002 and 2006, had become "toxic" to the group News Corporation Rupert Murdoch fast payday loan no faxing.The scandal falls at the worst time for the Australian media magnate, arrived in London yesterday: the group is seeking government permission to buy all the shares of BSkyB satellite television service, an operation of more than 9 billion euros .

Many opponents of the Murdoch group already call the closure of News of the World of operation "cynical." Sunday is expected to revive the title in a few weeks under a new name, probably Sun on Sunday for a Sunday edition of the other tabloid star Murdoch. According to Sky News, News International is seeking to find the person who last week bought several domain names, including thesunonsunday.co.uk.The editors of the Sun and News of the World were separated, but their editorial styles were similar, with pictures of naked girls, and a maximum of content devoted to celebrities and the number one sport in England, football.

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The agency Fitch yesterday joined the community of investors alarmed at the prospect of an eventual default, even if only very short term, the United States. Fitch is implicitly warned Congress and the White House that does not appear to progress in their negotiations for a vote before August 2 under the debt ceiling from the federal government.

Even in the event of a default simply "technical" does not result from a lack of resources but a failure of political governance, Fitch believes that America no longer deserve the rating "AAA", reserved for borrowers better standing. It is therefore sufficient for a few hours, the U.S. Treasury can not pay the $ 25 billion in interest on bonds due Aug. 15, so that the infallibility of Uncle Sam is questioned.Note American would shift from "AAA" to "B +" with negative implications. Provided Fitch considers this case "extremely unlikely" and still expects an agreement before Aug. 2.

The news agency Fitch comes as some Republicans in Congress, among the most conservative, do not hesitate to say it would be better than August 2 America can raise its debt ceiling, rather than to achieve this within the framework of an agreement that once again does not reduce government spending sustainable and credible way.

The date of August 2, is given in recent weeks by the Treasury beyond which it will no longer be possible to meet its obligations without issuing bonds and exceed the maximum debt limit for the time being of 14 electronic check payday advance.294 billion dollars.Since last month, the Treasury has used accounting maneuvers interim between various funds it manages, in order to remain below this ceiling.

Go through the roof or losing note

The Republican majority in the House of Representatives, use this time to force the White House to accept $ 2,500 billion of cuts in public spending over 10 years without increasing taxes. Republican leaders maintain that their goal is not to let America fall into default. They understand the serious implications of the mere mention of this hypothesis. But a fringe faction of the Republicans elected the "Tea Party" are "to diehards."Disagree with the traditional leaders of the Republican Party, buoyed by polls showing that the American public is more afraid of raising the debt ceiling as the default, they are willing to risk short-term loss of the AAA to compel America to stop living beyond its means.

For the time Barack Obama did not put on the table a detailed proposal for reducing spending. The negotiation is conducted by Joe Biden, U.S. Vice President. The agency Fitch is not the only one to have sounded the alarm about the U.S. debt. Her colleague Standard & Poor's has placed the rating on negative watch late April. The third agency, Moody's has also threatened to put the U.S. debt on negative watch.

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