The people of eastern Provence-Alpes Cote d'Azur are encouraged to moderate their power consumption between 18 and 20 o'clock tonight. There is "a real break."
The departments of Var and Alpes-Maritimes were placed on red alert Ecowatt for the day Monday, meaning that there is a "real risk of power outage on the east of the Provence-Alpes-Cotes d'Azur, RTE has announced on its website
. While the EDF subsidiary responsible for carrying current provides a new record consumption in France for Monday 19:00, clients are asked to reduce their electricity consumption between 18:00 and 20:00. "Faced with the real risk of power outage on the east of the PACA region, all partners Ecowatt is mobilized," said RTE.
Due to the wave of extreme cold and the importance of electric heating in France, French electricity demand has surged in recent days and flirting with historic levels. RTE provides for the fateful hour of 7:00 p.m., around which electricity demand reaches its peak every day in winter, consumption of 97,900 megawatts (MW), beating the current record of 96,710 MW reached Dec. 15, 2010, according to his tracking software in real time Eco2mix.
Due to a capacity lower than elsewhere in the means of production and power lines, east of PACA and Britain are considered "peninsulas" much more vulnerable to a "blackout" electric. Interviewed on RTL, the boss of EDF Proglio said Monday morning that his group would face "in terms of production capacity," but acknowledged that the distribution system was weakened during record consumption. "I confirm that EDF will be the appointment of the electrical needs of France even in advanced today as" indicating that the electrician had "mobilized all its resources". "This is the distribution network that is involved. (…) The distribution network is made vulnerable in terms of capacity during periods of high peak and we ensure that this weakness does not result in cuts" , he said.
"These include two large areas in France who are in vulnerable situations, it is the West and South-East for reasons related to the fact that these regions, the inhabitants of these regions fairly routinely refuse capacity building routing, "he justified.
As for the Val d'Oise, where some 3,000 homes were without power Sunday night due to a failure of an underground electrical cable, Mr. Proglio assured that "the situation will be restored in the day". The Var and Alpes-Maritimes and the United Kingdom had already been placed in "risk orange" dernière.RTE recommend particular week, also to avoid using appliances, turn off the electricity in unoccupied rooms and equipment in standby mode
. French consumption had grazed his record Thursday night at 96,377 megawatts, while strongly negative temperatures and snow affect France.
The negotiations between Greece and its private creditors on debt restructuring of the country could be concluded on Wednesday, said bankers and politicians, even if a rise in the role of the European Central Bank (ECB) is now seen as imperative in the case. </ p> According to the bankers and those responsible for the sector Private is now ready to accept a discount of about 70% of Greek government bonds held by it, which should reduce the debt of some of Greece 100 billion euros. </ p> The Greek Finance Minister Evangelos Venizelos for his part said that the discount could be even higher than 70%.</ P> That said, despite its size, this discount should not, according to officials, be sufficient to reduce the debt of Greece E equivalent of 120% of gross domestic product (GDP) by 2020, ratio deemed necessary, as part of plan to help the International Monetary Fund (IMF) and the European Union to make debt sustainable. </ p> As a result, more and more people involved in the case believe that the Greek public holders of securities – the ECB and national central banks of euro area – must participate in the debt restructuring of the country, continued bankers and officials.</ P> "The analysis is done at this stage is to see what measures the public sector could take to reduce the debt of Greece," he told Reuters a European Head , to the point of discussion. </ p> "The goal is to reduce the debt-GDP ratio to 120%, but even with the exchange of debt, it is still be ; s so far the public sector involvement is necessary. "</ p> A banking source said it was now accepted that private sector involvement would not produce the desired effects without the public sector also assumes some of the losses. </ p> "Now we discuss how," she added.</ P> LOSS FOR CENTRAL BANKS </ p> sources of the ECB told Reuters last week that the ECB had paid during the year e past, as part of its controversial program to buy back shares, 38 billion to buy Greek bonds with face value of 50 billion euros. </ p> The ECB finds itself position to record a nominal gain of 12 billion euros, a sum that could be reassigned to Athens without the ECB does not suffer losses. </ p> But one European official added that this still not enough to bridge the gap – estimated at 10 percentage points – between the discount that is about to make the private sector and the goal of a debt of 120%.</ P> The ECB and national central banks in the euro area could be forced to take losses on assets held or at least to waive payment of interest. </ p> But, according to sources, the results of some national central banks would not withstand such losses. </ p> "This complicates the discussion," said a banker about this possibility. </ p> Another source said that it might be necessary for one or more central banks to raise capital to offset possible a loss.</ P> While discussions on private sector involvement culmination Wednesday – after I started there almost seven months and have been interrupted several times – the resolution of the issue of public sector involvement could still take a few days. </ p> European shares closed higher, buoyed by the hope biento t reach an agreement between Athens and its private creditors on Greek debt and after the adoption of the new Treaty of fiscal discipline. </ p> Failing agreement, the Greece could end up in default of payment, when 14.5 billion euros of bonds will mature in March. </ p>
Japanese stocks ended up Thursday in the wake of coordinated action by central banks to release the funding of banks has seized up with the debt crisis in Europe.
The Nikkei gained 1.93% or 162.77 points to 8597.38 points and the Topix, broader, took 1.59% or 11.55 points to 740.01 points.
Financials have been sought. The banking index gained 1.59%. Sumitomo Mitsui Financial Group gained almost 3%.
Daiichi Sankyo has gained nearly 2% to 1,400 yen.
This is what the UMP Hervé Mariton. The Liberal member for the Drôme also wish not to replace two out of three employees retiring. Manifestation officials Paris in January 2009.
The former UMP minister Hervé Mariton calls Tuesday to increase the working time of officials "without additional compensation" and not to replace, for three years, two out of three employees who retire, two against one now. The Liberal member for the Drôme this Tuesday night on behalf of his political club Reform and Modernity, 24 proposals to be the presidential debate of 2012.
One suggestion is to increase the working time of employees without additional compensation.The increase in working hours would be modulated depending on the grade: an extra hour per week for officials in grade C (lower level), two hours in class B and three hours in Category A.
Hervé Mariton also wants to go beyond the rule of non-replacement of an official two retiring, established in 2007 by the government. It offers up to two of the three officers for three years. He also wants to convert some officials to "priority tasks" and launch a RGPP (General Review of Public Policy) "local".
Among his other proposals, Hervé Mariton wants to "prohibit" any public aid to enterprises, "except for research," "decentralize" employment center and introduce "a quarter of alternation," "mandatory and paid" at the end of class first.
The overall business climate in France has again deteriorated in November, as expected, shows the monthly business survey released Wednesday by INSEE.
The composite indicator of business climate in manufacturing industry fell by two points to 95 and remains below the 100 that corresponds to the long-term average of this indicator.
All 23 economists polled by Reuters on average expected a figure of 95, with estimates ranging from 93 to 97.
The indicator of business climate as a whole, including services, construction, wholesale and retail trade, a parallel decline of two points to 93.
"The turning point indicator remains in the negative zone in which he had switched to in September.Sectoral indicators are all turning into a negative zone, "said INSEE in a statement.
The service indicator down two points to 92.
France Telecom announced Wednesday the appointment of Gervais Pellissier for the position of Chief Operating Officer and the appointment of three new deputy directors-general.
The appointments take effect on 1 November 2011.
Gervais Pellissier will retain his position as executive director in charge of finance and information systems group, is it said in a statement.
In addition, Group CEO, Stéphane Richard decided to appoint, with effect from 1 November 2011, Delphine Ernotte Cunca, Executive Director of Orange France, Pierre Louette, Executive Director in charge of the General Secretariat, Division France and Operators purchases and Bruno Mettling, Executive Director in charge of human resources.
Jean-Philippe Vanot, France Telecom has therefore now four deputies.
The action France Telecom closed Wednesday at 13.11 euros (0.69%). She lost 15.93% since the beginning of the year.
The specialist management software database Oracle reported Tuesday a quarterly revenue slightly exceeded expectations, despite a context of weak prospects for spending in the technology sector.
In after-hours trading, the value gained 1.3% after closing down 2.31% the Tuesday meeting.
The American group, which has diversified in the last year by buying the equipment server manufacturer Sun Microsystems, has a turnover of 8.37 billion dollars in its first fiscal quarter ended in August, an increase of 12% over the previous year.Wall Street expected $ 8.35 billion.
Sales of new software, guaranteeing revenue to come in the area of maintenance, increased 17% against a 15% increase expected.
Net income rose to $ 1.84 billion, or 36 cents a share, Cutter $ 1.35 billion, or 27 cents per share a year earlier.
Excluding items, the profit amounted to 48 cents a share against 46 cents expected by the Thomson Reuters consensus I / B / E / S.
Quarterly dividend of six cents per share, payable on November 2.
Inflation in the euro area is expected to remain significantly above 2% in the coming months, said Monday the president of the European Central Bank, Jean-Claude Trichet.
"Everyone understands, especially in the present situation, it is crucial that the ECB maintains its inflation expectations well anchored. It is crucial to overall confidence," said Jean-Claude Trichet before the commission Economic and Monetary Affairs of the European Parliament.
European shares ended down Friday, concluding a third straight week against a background of restless fears of a relapse into recession in major developed and sovereign debt crisis.
The CAC 40 index dropped 1.92% to 3016.99 points, but varied between a low of 2947.91 points (-4.2%) and a high of 3078.28 points (0.07% ).
For the week the index lost 6.13%, after falling 5.48% Thursday, bringing its slide to 17.82% since the beginning of the month.
"Above all, the anticipation of 'double dip' recession in the double way early 1980s, which haunted investors.This contraction is somehow accepted and caused by the austerity budget set up by European politicians, "said Eric Galiegue, president of Valquant.
Other major European markets, London has sold 1.01% 2.19% Frankfurt and Milan 2.46%. The European indices EuroStoxx 50 and 300 respectively Eurofirst fell 2.15% and 1.66%.Since the beginning of the month, the EuroStoxx 50 loose 19.15%, 13.32% and the London Stock Exchange German 23.45%.
On Wall Street, the S & P 500 fell by 0.15% and the Dow Jones 0.33% at midday in New York.
"The second quarter growth was well below expectations on many aspects: sluggish domestic demand, external demand risk and a clear concern about the financial variables, crystallized by market volatility," recalls Erick Muller Chief Investment Officer of Fidelity bond range.
The situation remains very FRAGILE
The implied volatility of the Eurostoxx 50 has remained virtually unchanged Friday (0.29%) but jumped 71.29% in three weeks.
"The month of August will bring real improvement on any of these points.The overall situation remains very fragile for the second half and the markets have adjusted the valuation of assets as a result, but suddenly long term, "said Erick Muller.
In this context, cyclical stocks and banks have once again suffered, Renault (-4.69%) showing the greatest decline in the CAC 40 lost 4.27% BNP Paribas in Paris.
Elsewhere in Europe, banks Unicredit and Lloyds fell 4.8% and 5.8%, while car manufacturers Porsche and Fiat gave up 4.45% and 4.3%.Their respective sector indices ended lower by 1.81% and 2.86%, the car even accusing the largest decrease sector.
Since the beginning of the month, European banks have unscrewed from 21.85% and 27.74% of the car.
The same causes leading to the same effect, investors fled to the assets with the least risk, such as gold, which recorded a new record of 1,877 dollars an ounce and earns nearly 14% since late July, or Yields on government bonds rated.
The rate of the 10-year Bund and of the French OAT maturing well remain virtually unchanged in late afternoon around by 2.1% and 2.77%, after falling in the morning at 2.031% and 2.713%.
"Despite the deterioration in the rating of the United States by Standard and Poor's, despite concerns in general about the astronomical amounts of public debt, interest rates on government bonds with very broad market fall," Valquant said in a weekly strategy note.
"This is a sign that investors are in full 'flight to quality', and they seek refuge in government debt," says the company.
Morgan Stanley lowered its growth forecasts for the global economy for the years 2011 and 2012, the revision is stronger for developed countries.
In a note published Thursday, the U.S. investment bank now expects growth in global gross domestic product (GDP) of 3.9% in 2011, against 4.2% previously and 3.8% in 2012, instead 4.5%.
The GDP of developed countries is expected to grow by an average of 1.5% in 2011 and 2012 (against 1.9% and 2.4% forecast earlier), according to economists at Morgan Stanley who make a downward revision larger scale for European growth in 2012.
"We're lowering our forecast for GDP even in the euro area, and this time a full percentage point over the period 2011-2012 and we now expect GDP growth of 0.5% on average (significantly below our previous forecast of 1.2%), "they say, adding that the consensus expects a 1.5% growth in 2012.
Economists at Morgan Stanley state that they bring back their 2011 growth forecast for the eurozone to 1.7% against 2.0% previously.
These revisions, they say, stem from mistakes made in recent economic policy of the United States and Europe, as well as the prospect of harsher austerity measures in 2012.
For emerging markets, they see a slowdown in growth of 7.8% in 2010 to 6.4% in 2011 (against 6.6% expected earlier).For 2012, they lower their forecasts for the emerging 6.1% (against + 6.7%).
If they feel that developed countries are flirting with recession (understood as two consecutive quarterly contractions in GDP), they dismiss the scenario of a return to recession.
"In this context, we expect more rate hikes from the ECB but a rate cut next year – we are lowering our forecast on the refi rate (the ECB's main rate, Ed) to 1% by end 2012 against 2% previously, "wrote economists at Morgan Stanley.
After two increases this year, the ECB refi rate is currently 1.5%.
"As anxiety on growth gains, we expect that the 10-year Bund yield fell 2%," they add, by advocating caution on equities and underweight cyclicals.