This is a first official estimate. Le Figaro had argued Wednesday the number of one billion euros in damage, according to the French Federation of Insurance Companies (FFSA), the Xynthia storm that swept through France last Sunday is expected to cost at least $ 1.2 billion of EUR insurers. Because this encryption is based on insurance claims 500,000 victims and will probably be revised upwards. Firstly because other people should still report damage in the coming days. Xynthia is indeed the most violent storm in the 1999, stronger than that Klaus had 740,000 victims last year in the Southwest. Secondly, many houses are still flooded making it difficult to make a definitive estimate of the damage.
The assessment takes into account the damage caused by wind and partly by water.These latter are partly supported by governments that have recognized the state of natural disaster one hour payday loan .
To find the total cost of damage from the storm, it would also add all those suffered by all the infrastructure (roads, bridges, dams). Borne by state and local governments and not covered by members of the FFSA and the Grouping of mutual insurance companies, they have not been integrated to 1.2 billion euros. The final cost of Klaus – 1.68 billion euros – was nearly three times the initial estimate.According to the FFSA, it will take one to two months in order to establish the final amount of the cost of the storm for its members.
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The euro fell Friday to its lowest level since May 2009. This morning, the single currency goes on its third session decline and fell below the $ 1.37, after passing down the threshold of 1.38 dollars the previous day (Thursday evening about 22 hours). It reached 1.3648 dollars around 9 am 30. It's a new level for the single currency since May 9
Since the beginning of the year, the euro lost 2.5%.
This drop is explained in particular by the concern of traders due to budgetary problems of many countries in the euro area. Many expect a strong intervention of Europe and even appealed to the International Monetary Fund (IMF) to help Greece to get out of a budget crisis without precedent.
Another concern is about the euro on the currency market, the case of Spain, which has poorly digested crisis including an unemployment rate of nearly 20%.Besides Dominique Strauss-Kahn, IMF head, spoke Thursday on RTL crisis "very strong in Spain and that the country had" an effort "to reduce public deficits Business Card Holders . The Spanish public debt has soared just over 60% of GDP in 2010 while in 2007 it accounted for only 36.2% of GDP.
Tuesday, Paul Krugman, Nobel Prize in Economics in 2008, believed that Spain was the main weakness in the euro area. To this the Spanish Minister of Economic Affairs, Elena Salgado, has responded Thursday by saying on the radio station La Cope: "The euro is a very strong and we continue to strengthen the currency.I see absolutely no risk for the euro area, "adding," there may be a lack of understanding about what the euro means for our economy. "
Another country in the euro area is also starting to worry, Portugal, again because of deteriorating public finances of the country. Besides the titles of Portuguese banks fell by 5 to 6% Thursday on the Lisbon Stock Exchange.
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