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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The Paris Bourse ended the session up on Monday, recovering some lost ground over the last two sessions last week (-1.16% to close Thursday and Friday -0.95%). At the close, the CAC 40 index ended up 2.05% at 3872.06 points for a trade volume of 2.4 billion euros. The famous rally Year-end "appears to be a good reason for investors to" play "on the rise.
No statistics were published on Monday. In contrast, the rest of this week shortened (end of quotes provided 13 hours Thursday and closing of the Exchange Friday) should be marked by the third estimate of U.S. GDP for the third quarter and the sales figures in real estate the United States.
The detailed values follow …
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BNP Paribas Real Estate Residential foothold in the residential hotels. The subsidiary of BNP Paribas announced this morning, creating a new brand, called Hipark Residences. The concept is innovative. Besides a well-studied design, these serviced apartments high-end, ranging from studios to more 'luxury', also rely on services.
The business traveler or tourist to see and offer a concierge service 24/24, the image of what is already in major hotels, cooking classes or a massage to relax …
The first residential hotel group will open its doors next February in downtown Grenoble. Then follow Nice (end 2010), Marseille (February 2011) and Serris / Val D'Europe (close to Disneyland in 2012). BNP Paribas does not stop there."We hope to open 10 to 15 serviced apartments in France over the next two or three years," confirms Rene Metz, chairman of BNP Paribas Real Estate Residential.
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How to better control the price of gas? That is the question posed by the UFC-Que Choisir in a study released Tuesday and conducted for the association, the Microeconomix firm, specializing in economic analysis applied to energy. The study, which decrypts the various components of gas prices, indexation of long-term contracts to supply gas to that of petroleum products is no longer justified because "the gas reserves are larger and Practice these two energies are not quite the same. " Moreover, this calculation method penalizes consumers for petroleum products are part of an upward trend and are very volatile. The UFC-Que Choisir gives the example of the United States, where there is a real market price of gas. Its price is low given the recession and the discovery of new deposits while the oil prices started rising.The association proposes that consumer gas prices for the supply, are no longer indexed to oil prices and encourages GDF-Suez and state shareholder to initiate a reflection on this subject.
Costs associated with better delivery boxes
Another point raised by the study: the opacity of the costs of delivering gas (transportation, distribution, storage). The UFC also regretted that the information on the operating expenses of transportation and distribution are not published. The same is true of financial results of storage of GDF-Suez and Total, the two current operators. The study also reveals that the total capital committed to the transportation and distribution in France are paid at a rate higher than in other European countries. The idea would be to align to allow a reduction in the cost of these positions.Thus, for transport, the decrease corresponds to 4% or lower fares for consumers in the order of 0.4% since this activity represents 10% of the total cost. For distribution, the decline would be 3%, slightly less than 1% for the end consumer because the distribution represents 25% of total costs. Finally, for the association, it is necessary for storage, whose price has increased 20% over three years to become a regulated activity, as are transportation and distribution. Currently, operators of gas freely set their rates. The UFC is therefore proposing that the costs of bringing gas to final consumers are better supervised.
At present, regulated tariffs for natural gas are set by the government after recommendation from the Commission of Energy Regulation. Last October, the government had decided not to change the price of gas.According to the formula for calculating the new rates, the decline would be limited to 0.6% to 0.7%. The last drop of gas took place last April. It was around 11.3%.
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"Gas: a new method of pricing?
"PAPER – Read the analysis of the UFC-Que Choisir on gas prices (pdf)
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