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	<title>Financial, Business, Personal Finance News &#187; energy</title>
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		<title>Peak power: Var and Alpes-Maritimes on red alert</title>
		<link>http://elinorcaplan.com/peak-power-var-and-alpes-maritimes-on-red-alert/</link>
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		<pubDate>Mon, 06 Feb 2012 10:35:05 +0000</pubDate>
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		<description><![CDATA[The people of eastern Provence-Alpes Cote d&#39;Azur are encouraged to moderate their power consumption between 18 and 20 o&#39;clock tonight. There is &#34;a real break.&#34;
 The departments of Var and Alpes-Maritimes were placed on red alert Ecowatt for the day Monday, meaning that there is a &#34;real risk of power outage on the east of [...]]]></description>
			<content:encoded><![CDATA[<p>The people of eastern Provence-Alpes Cote d&#39;Azur are encouraged to moderate their power consumption between 18 and 20 o&#39;clock tonight. There is &quot;a real break.&quot;
<p> The departments of Var and Alpes-Maritimes were placed on red alert Ecowatt for the day Monday, meaning that there is a &quot;real risk of power outage on the east of the Provence-Alpes-Cotes d&#39;Azur, RTE has announced on its website
</p>
<p>. 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. &quot;Faced with the real risk of power outage on the east of the PACA region, all partners Ecowatt is mobilized,&quot; said RTE. </p>
<p> 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. </p>
<p> Due to a capacity lower than elsewhere in the means of production and power lines, east of PACA and Britain are considered &quot;peninsulas&quot; much more vulnerable to a &quot;blackout&quot; electric. Interviewed on RTL, the boss of EDF Proglio said Monday morning that his group would face &quot;in terms of production capacity,&quot; but acknowledged that the distribution system was weakened during record consumption. &quot;I confirm that EDF will be the appointment of the electrical needs of France even in advanced today as&quot; indicating that the electrician had &quot;mobilized all its resources&quot;. &quot;This is the distribution network that is involved. (&#8230;) 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&quot; , he said. </p>
<p> &quot;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, &quot;he justified.  </p>
<p> As for the Val d&#39;Oise, where some 3,000 homes were without power Sunday night due to a failure of an underground electrical cable, Mr. Proglio assured that &quot;the situation will be restored in the day&quot;. The Var and Alpes-Maritimes and the United Kingdom had already been placed in &quot;risk orange&quot; dernière.RTE recommend particular week, also to avoid using appliances, turn off the electricity in unoccupied rooms and equipment in standby mode </p>
<p> . French consumption had grazed his record Thursday night at 96,377 megawatts, while strongly negative temperatures and snow affect France. </p>
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		<link>http://elinorcaplan.com/287/</link>
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		<pubDate>Sun, 20 Nov 2011 00:05:07 +0000</pubDate>
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		<description><![CDATA[The Community budget of the European Union will increase to 129 billion euros in 2012, an increase of 2% in line with inflation, according to the agreement reached Saturday morning after fifteen hours of negotiations. 
 The agreement is a victory for European governments, struggling with the financial consequences of the debt crisis in the [...]]]></description>
			<content:encoded><![CDATA[<p>The Community budget of the European Union will increase to 129 billion euros in 2012, an increase of 2% in line with inflation, according to the agreement reached Saturday morning after fifteen hours of negotiations. </p>
<p> The agreement is a victory for European governments, struggling with the financial consequences of the debt crisis in the euro area, rejected the will of MEPs to increase the Community budget of over 5% next year . </p>
<p> But by linking the progress of Community resources on expected inflation in 2012, the EU could find itself unable to meet certain expenses, prevent some European officials.</p>
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		<title>Steve Jobs, Apple&#039;s legendary boss, has died at age 56</title>
		<link>http://elinorcaplan.com/steve-jobs-apples-legendary-boss-has-died-at-age-56/</link>
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		<pubDate>Thu, 06 Oct 2011 20:55:08 +0000</pubDate>
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		<description><![CDATA[Steve Jobs, co-founder and iconic Apple chief, died Wednesday at age 56 after a long battle against cancer. 
 His immense contribution to the computer and creativity, which revolutionized the everyday practices of millions of people worldwide, were immediately welcomed in the political class and the world of new technologies but also among Apple customers, [...]]]></description>
			<content:encoded><![CDATA[<p>Steve Jobs, co-founder and iconic Apple chief, died Wednesday at age 56 after a long battle against cancer. </p>
<p> His immense contribution to the computer and creativity, which revolutionized the everyday practices of millions of people worldwide, were immediately welcomed in the political class and the world of new technologies but also among Apple customers, often become unconditional followers of products born of his imagination. </p>
<p> &quot;Steve Jobs was among the greatest innovators Americans brave enough to think differently, bold enough to think himself capable of changing the world and talented enough to do so,&quot; said President of the United States Barack Obama, saying that the world had &quot;lost a visionary.&quot;</p>
<p> From Los Angeles to Sydney, admirers began to pay tribute to Steve Jobs before the Apple Stores&#39;. Before one of these stores in New York, candles, flowers, an apple or an iPod were filed in an impromptu memorial. In San Francisco, some waved their iPads by including one on the screen in black and white portrait of Steve Jobs. </p>
<p> The phenomenon also affects many websites, including Apple, which changed its home page to display a picture of his co-founder, simply titled &quot;Steve Jobs: 1955-2011.&quot; </p>
<p> At company headquarters, the flags were taken at half-mast.Employees have left flowers on a bench. </p>
<p> &quot;For those of us who were lucky enough to work with him, it was an insanely great honor,&quot; said former rival Bill Gates, former head of Microsoft and other icon of the computer, using the phrase &quot;insanely great&quot; that liked to use Steve Jobs himself. </p>
<p> Outside the residence of Steve Jobs in Palo Alto, neighbors and friends laid flowers and left messages on the sidewalk.&quot;Thank you for changing the world,&quot; it said in particular. </p>
<p> SOLID COMPANY </p>
<p> Steve Jobs has died in Palo Alto, California, surrounded by his wife and his closest relatives, said Apple, with no other details. </p>
<p> He resigned in late August from his position as CEO of Apple, saying that his health no longer allowed him to take charge.He was then sent to Tim Cooks his right arm over the reins of the company was born, according to legend, in a garage. </p>
<p> For most analysts and investors, Steve Jobs gives a company strong enough to continue growing despite the loss of one who was also its main source of innovation and its charismatic promoter. </p>
<p> Apple, the second market capitalization on Wall Street behind the oil major Exxon Mobil, however, faces many challenges, including the face of competition from Google, whose Android operating system team more and more smartphones. </p>
<p> The Cupertino company is also engaged in a legal showdown with South Korea&#39;s Samsung Electronics in terms of intellectual property.</p>
<p> &quot;Steve Jobs has introduced many revolutionary changes in the field of information technology and it was a great entrepreneur. His innovative spirit and its remarkable achievements remain forever etched in the minds of people around the world,&quot; said Samsung boss, GS Choi. </p>
<p> The famous &quot;keynote&quot; </p>
<p> Steve Jobs&#39;s death occurs after the presentation by Tim Cook of the new iPhone 4S in a &quot;keynote&quot; as Steve Jobs featured at each release of a new Apple product. The new device has attracted little enthusiasm, much regretting the lack of major innovation for the product best-selling worldwide. </p>
<p> Steve Jobs&#39;s death was announced after the end of virtually all trade with the New York Stock Exchange.The Apple stock ended the session at 378.25 dollars but the title side yielded 3.7% in Frankfurt on Thursday morning. </p>
<p> Tim Cook said that Apple would hold &quot;soon&quot; in-house ceremony in honor of Steve Jobs. </p>
<p> &quot;Intelligence, passion and energy of Steve were the source of countless innovations that have enriched and improved the lives of all of us. The world is infinitely better thanks to Steve,&quot; Apple wrote in a statement. </p>
<p> Steve Jobs&#39; wealth is estimated by Forbes magazine to seven billion dollars and it is unclear how it will be distributed. </p>
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		<title>Segolene Royal launched her own public bank for SMEs</title>
		<link>http://elinorcaplan.com/segolene-royal-launched-her-own-public-bank-for-smes/</link>
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		<pubDate>Mon, 03 Oct 2011 17:25:06 +0000</pubDate>
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		<description><![CDATA[Poitou-Charentes has formalized the launch of an investment bank for SMEs. 33 million of regional funds will be available in two years. Segolene Royal, Socialist candidate for the primary (here at a press conference in Paris June 29, 2011).
 The Regional Council of Poitou-Charentes, headed by Ségolène Royal, the Socialist Party candidate in the primary, [...]]]></description>
			<content:encoded><![CDATA[<p>Poitou-Charentes has formalized the launch of an investment bank for SMEs. 33 million of regional funds will be available in two years. Segolene Royal, Socialist candidate for the primary (here at a press conference in Paris June 29, 2011).
<p> The Regional Council of Poitou-Charentes, headed by Ségolène Royal, the Socialist Party candidate in the primary, formalized Monday the creation of a regional investment bank for SMEs, said the community in a statement. &quot;With the bank, SMEs can now apply to a single paperless service, managed by the region, common to all funding partners,&quot; says the region is now arguing that &quot;SMEs will benefit from consulting and a more simple, faster and more relevant. &quot;</p>
<p> With the help of European Regional Development Fund (ERDF), € 33 million of regional funds will be made in two years, available to the bank. The region also hopes to get input from the Deposit or private investors to &quot;finance EUR 280 million investment and activity in the territory.&quot; </p>
<p> This initiative was announced September 12 by Ségolène Royal, along with five other actions for SMEs. The primary candidate for the PS but noted that &quot;starting a business is not valued in France,&quot; and expressed his &quot;firm belief&quot; that it was necessary to ensure that France &quot;is recovering from tissue SMEs &quot;. It was also suggested to &quot;reserve a portion of public contracts to SMEs&quot;.</p>
<p> The region has also announced that it creates a semi-public company, ESTER (Solar Electricity Territories) Poitou-Charentes regional development of solar power. ESTER Poitou-Charentes &quot;aims to invest in making solar power plants with an investment program of 200 million by 2015, representing 120 megawatts of power, or one and half times the power currently installed Poitou-Charentes, and 500 permanent jobs, &quot;the statement also indicates the regional council. </p>
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		<title>Economists call to erase half of the Greek debt</title>
		<link>http://elinorcaplan.com/economists-call-to-erase-half-of-the-greek-debt/</link>
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		<pubDate>Tue, 27 Sep 2011 15:25:06 +0000</pubDate>
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		<description><![CDATA[It should allow Greece to erase half of its debt and at the same time provide additional support to banks that have funded, say Tuesday in a forum of political advisors French and German. 
 Decisions taken on 21 July to control the debt crisis of the Greek are not sufficient, the judge in the [...]]]></description>
			<content:encoded><![CDATA[<p>It should allow Greece to erase half of its debt and at the same time provide additional support to banks that have funded, say Tuesday in a forum of political advisors French and German. </p>
<p> Decisions taken on 21 July to control the debt crisis of the Greek are not sufficient, the judge in the Financial Times Deutschland a group comprising a committee of &quot;wise men&quot; German business, an adviser to the French government and an official of the Economic Review International Monetary Fund (IMF). </p>
<p> &quot;Creditors should give about half of the nominal value of their Greek bonds,&quot; they write.&quot;So it would be possible for Greece to reduce its debt to a sustainable level by yourself.&quot; </p>
<p> The leaders of the euro area agreed on July 21 with a discount of 21% on Greek bonds by an exchange of indebtedness in Athens more time to repay loans. But many players still consider it inevitable failure wider Athens on its debt. </p>
<p> The authors of the platform of the Financial Times Deutschland ask it possible for banks to exchange securities against Greek bonds issued by the European Financial Stability (EFSF), to ensure a smooth restructuring process. </p>
<p> &quot;In addition, banks holding large amounts of Greek sovereign bonds need special support,&quot; we read in the gallery.&quot;This is especially true for Greek banks.&quot; </p>
<p> Greek bank stocks Monday fell more than 6% to a low of 19 after news reports indicating a discount greater than expected on the debt of Athens, despite the denial of the Greek government. </p>
<p> Greek Prime Minister George Papandreou on Tuesday traveled to Berlin to meet German Chancellor Angela Merkel and discuss the progress of Athens in the implementation of fiscal reforms required in return for international aid.</p>
<p> Greek MPs should approve the meantime in the day an unpopular property tax, a new austerity measures intended to pave the way for the return of the inspectors of the &quot;troika&quot; &#8211; IMF, EU and European Central Bank &#8211; responsible for assessing whether Athens will receive the next tranche of aid decided in May 2010 and thus avoid bankruptcy. </p>
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		<title>The uncertainty on Greece are plunging stock markets</title>
		<link>http://elinorcaplan.com/the-uncertainty-on-greece-are-plunging-stock-markets/</link>
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		<pubDate>Mon, 19 Sep 2011 12:45:08 +0000</pubDate>
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		<description><![CDATA[Paris opened on Monday morning, down 2.30%. If no decision within the euro area on the second bailout of Greece announced a new black day. The trading floor in Frankfurt
 Divisions within the euro area on the Greek case and the problems of sovereign debt have to plunge again European stock markets Monday morning at [...]]]></description>
			<content:encoded><![CDATA[<p>Paris opened on Monday morning, down 2.30%. If no decision within the euro area on the second bailout of Greece announced a new black day. The trading floor in Frankfurt
<p> Divisions within the euro area on the Greek case and the problems of sovereign debt have to plunge again European stock markets Monday morning at the opening, banking stocks are once again very abused. The Paris Bourse opened a decline of 2.31%, 2.26% Frankfurt, London, 1.35%, Milan and Madrid by 2.6% from 2.51%. </p>
<p> In Paris banking stocks were the front line, BNP Paribas lost shortly after opening more than 3% and Societe Generale more than 6%. Same as in Frankfurt where Deutsche Bank lost 4.58% to 23.95 euros while that of Commerzbank fell by 4.36% to 24.01 euros.</p>
<p> &quot;If no decision within the Ecofin early advocates for a tough week in the financial markets,&quot; said Christian Parisot Monday, economist at Aurel-BGC. The results of a meeting of EU finance ministers who were to consider the Greek case and the situation in the euro zone where European leaders have shown once again divided and little progress on the second aid plan Greece had already begun to engage in part the modest revival of optimism late last week. </p>
<p> European shares had done so in a disorganized, earning 1.18% Frankfurt, London and Madrid 0.58% 0.61% while Paris fell by 0.48% and 0.65% in Milan. Caution was also put in Friday on the eve of the weekend on Wall Street, where the Dow had gained 0.66% and the Nasdaq 0.58% at closing.</p>
<p> Monday, while no major economic indicator is expected, investors will be especially attentive at 1400 GMT, the Speech from the President of the United States, Barack Obama, which should offer a new deficit of 3.000 billion. </p>
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		<title>Parisot sees signs of contraction of credit to companies</title>
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		<pubDate>Sat, 17 Sep 2011 04:55:07 +0000</pubDate>
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		<description><![CDATA[The president of MEDEF, Laurence Parisot, fears a slight decline to the difficulties facing the banks. The president of MEDEF, Laurence Parisot (here in May 2010), estimates that the economic program of the National Front for the presidency would ruin France.
 The president of MEDEF, Laurence Parisot, ruled Friday that there was &#34;some micro-signs&#34; pointing [...]]]></description>
			<content:encoded><![CDATA[<p>The president of MEDEF, Laurence Parisot, fears a slight decline to the difficulties facing the banks. The president of MEDEF, Laurence Parisot (here in May 2010), estimates that the economic program of the National Front for the presidency would ruin France.
<p> The president of MEDEF, Laurence Parisot, ruled Friday that there was &quot;some micro-signs&quot; pointing to a tightening of credit to businesses, but little else, while the current reduction of bank balance sheets is likely to cause dry credit. </p>
<p> &quot;There are some micro-signs but no more than that. The banks have increased their credit to the economy in a fairly regular basis. The latest figures we have are rather reassuring. It is 4%,&quot; said Ms. Parisot on France Info. </p>
<p> &quot;Of course we will be very careful.I call on the French banks today to maintain the effort they have undertaken since 2008 to support our VSE (very small) and our SMEs (Small and Medium Enterprises), &quot;she said. </p>
<p> The prospect of entry into force of the new regulatory framework and Basel III said the current tensions in financial markets causing some difficulties in short-term funding of banks encourage institutions to strictly control and often reduce the size of their balance sheets . This can be done through asset sales or a reduction commitments, that is to say loans. </p>
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		<title>&quot;There is no need to panic on the banks&quot;</title>
		<link>http://elinorcaplan.com/there-is-no-need-to-panic-on-the-banks/</link>
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		<pubDate>Tue, 06 Sep 2011 03:25:08 +0000</pubDate>
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		<description><![CDATA[Bank stocks were the main victims of a new Black Monday stock market. But according to Dominique Dequidt, fund manager at KBL Richelieu, concerns about them are exaggerated.
 Fears about the banking stocks have been very heavy on Monday on all European markets. In Paris, Societe Generale tumbled 8.64% to 20.25 euros, signing the largest [...]]]></description>
			<content:encoded><![CDATA[<p>Bank stocks were the main victims of a new Black Monday stock market. But according to Dominique Dequidt, fund manager at KBL Richelieu, concerns about them are exaggerated.
<p> Fears about the banking stocks have been very heavy on Monday on all European markets. In Paris, Societe Generale tumbled 8.64% to 20.25 euros, signing the largest decrease in the CAC 40. BNP Paribas lost 6.34% to 31.30 euros, Crédit Agricole (-5.51% to 5.84 euros) and Natixis (-5.68% to 2.55 euros). In the background, the difficulties of Greece, the threat of a lawsuit in the United States against 16 banks &#8211; including Societe Generale &#8211; for their responsibility in the subprime crisis, and the desire to recapitalize European banks by the IMF .Dominique Dequidt but remains optimistic. </p>
<p> What are the fears about banks today?
<p> First, the gradual disappearance of the sovereign rating in Greece opened the door to further degradation, Ireland and Portugal in the lead. This is one of the great fears in the market today. Investors fear losses that may result in banking stocks that are exposed. Indeed some of the U.S. money market funds that had liquidity of investments in Europe have rather taken off the market last week. The second point is the deterioration of the American note in the summer. She amplified these fears and stoked fears of slowing global growth. </p>
<p> These fears are justified?
<p> It is not really justified, at least in the short term. It is mainly a crisis of confidence that undermines the market.But look closer, banks are healthy. When we look at the credits granted by banking institutions in Europe, there is no need to panic. They rose 3% in the first quarter and 4% in the second. And despite a rather European growth at half the second quarter. </p>
<p> Banks are robust enough to withstand the risk of European sovereign debt and the threat of global recession?
<p> Yes, in the event that we are not witnessing a collapse of the banking system. But there is no need to be as alarmist as the IMF on the recapitalization of banks. They have made big profits in the first half. BNP Paribas, despite its 450 million refinancing of provisions in the Greek debt, posted a profit of more than 2 billion euros in the first quarter. </p>
<p> But banks are very fearful to lend to each other.The level of cash placed with the European Central Bank has now reached 151 billion euros &#8230;
<p> We are in a tense situation since the beginning of August the fears are heavy on the strength of some banks. Hence the difficulty they face to lend to each other. This level is certainly high compared to six months ago. But we are still far from the amounts of their outstanding 2008 in which the ECB had reached astronomical levels. </p>
<p> The trial of the U.S. federal government against 16 global banks &#8211; including the general society &#8211; he may weigh on an already difficult climate?
<p> I do not think, at least for France and Europe. They are not involved in the trial. And regarding the risks of fines, it is called, in the extreme case, a fine running into hundreds of millions of euros.This is a difficult but there is no major concern to have. </p>
<p> To what extent can we expect an impact on the real economy if the situation worsens?
<p> Banks have made a big effort on their balance sheets, it is not in the same situation of overheating than during the crisis. They are now well prepared for the state of distrust of the markets. But the phenomenon of double-dip recession may occur. 3 months ago investors imagined a soft landing in growth after the good figures of 2010. Today expectations are more cautious, and go up to imagine a recession in 2012. </p>
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		<title>Barack Obama criticizes the &quot;imprudence&quot; of Congress on debt</title>
		<link>http://elinorcaplan.com/barack-obama-criticizes-the-imprudence-of-congress-on-debt/</link>
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		<pubDate>Sat, 23 Jul 2011 20:55:08 +0000</pubDate>
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		<description><![CDATA[Following a meeting with congressional leaders, the White House Saturday criticized the &#34;reckless political games&#34; of the U.S. Congress on the thorny issue of raising the debt ceiling of the United States. 
 President Barack Obama continues to oppose a short-term renewal of the ceiling of the debt, according to a statement from the White [...]]]></description>
			<content:encoded><![CDATA[<p>Following a meeting with congressional leaders, the White House Saturday criticized the &quot;reckless political games&quot; of the U.S. Congress on the thorny issue of raising the debt ceiling of the United States. </p>
<p> President Barack Obama continues to oppose a short-term renewal of the ceiling of the debt, according to a statement from the White House could lead to a deterioration in the rating of sovereign debt by U.S. agencies notation. </p>
<p> &quot;Congress should stop playing recklessly with our economy, it would be better off to show responsibility and do its job &#8211; namely to avoid a default and reduce the deficit,&quot; said Jay Carney, spokesman for the House white.</p>
<p> For his part, John Boehner, Republican chairman of the House of Representatives, said he sought with other congressional leaders to find a solution &quot;bipartisan&quot; &#8211; beyond the party lines &#8211; to raise the debt ceiling of By the deadline of August 2 and avoid a failure of the United States. </p>
<p> In a statement issued after the meeting with the head of the U.S. executive, John Boehner says: &quot;The leaders of the House and Senate will work to find a bipartisan solution to significantly reduce spending in Washington and preserve the full faith and credit enjoyed by the United States. &quot;</p>
<p> The U.S. president has gathered around him the chairman of the House of Representatives, Republican John Boehner, Harry Reid, Democratic majority leader in the Senate, Vice President Joe Biden and Nancy Pelosi, minority leader in the Democratic House of Representatives. </p>
<p> If Congress does not fall by 2 August the ceiling of the debt of the United States, currently set at 14 300 billion, federal agencies can no longer be funded.Investors remain confident that an agreement will be reached on time but the concern is gaining the markets, a U.S. default on their debt is likely to trigger a global economic shock. </p>
<p> The United States now face the &quot;real risk&quot; to see the bill for its sovereign debt broken down by rating agencies, said Friday an official from the White House. </p>
<p> Democrats and Republicans agree that raising the debt ceiling begins with a budget deficit reduction but both sides fail to agree on how to get there. </p>
<p> Barack Obama and John Boehner appeared to move toward a deficit reduction agreement for $ 3.000 billion dollars but voices were raised in the Democratic camp to protest cuts in welfare benefits without immediate increase of taxes in return. </p>
<p> The president said he had submitted a proposal &quot;extraordinarily fair&quot; to John Boehner, but he was clear on Friday that the Republican had broken off negotiations once it had stopped responding to phone calls. </p>
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		<title>General strike in Greece against austerity</title>
		<link>http://elinorcaplan.com/general-strike-in-greece-against-austerity/</link>
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		<pubDate>Tue, 28 Jun 2011 06:55:11 +0000</pubDate>
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		<description><![CDATA[While the Greek Parliament examines a new austerity plan even stronger than the previous ones, the unions called a general strike of 48 hours. The euro area is preparing his side a &#34;plan B&#34;. Greek unions have launched a new 48-hour general strike Tuesday, June 28 to protest against the austerity budget before Parliament.
 Flights [...]]]></description>
			<content:encoded><![CDATA[<p>While the Greek Parliament examines a new austerity plan even stronger than the previous ones, the unions called a general strike of 48 hours. The euro area is preparing his side a &quot;plan B&quot;. Greek unions have launched a new 48-hour general strike Tuesday, June 28 to protest against the austerity budget before Parliament.
<p> Flights deleted, random power outages, canceled trains, banks closed: Greece will idle Tuesday, June 28, the first day of a general strike of 48 hours launched by unions to protest against the austerity budget review by Parliament. The unions oppose the measures in the plan: higher taxes and massive privatization.</p>
<p> Tuesday and Wednesday after three 24-hour general strikes since the beginning of the year, officials will strike again, banks closed and hospitals will work with staff on call. Journalists have announced their next work stoppages than five hours Tuesday and early Wednesday afternoon, which will affect especially the newspapers and websites broadcast information. </p>
<p> The austerity measures are intended to secure the payment by the country&#39;s creditors and the IMF-EU-a new tranche of money to Greece, which otherwise would be left at risk of default in July. Despite opposition from the street, the Socialist government expressed confidence in the ability of countries to take the step of discipline, through the adoption of multi-year plan of recovery and its implementing legislation.Votes are expected Wednesday and Thursday. </p>
<p> The vote seems certain austerity plan
<p> Monday, George Papandreou urged Greek MPs to vote the proposed austerity budget submitted to them, so that the country to the brink, &quot;stands&quot;. Greek Prime Minister, attempting to unite the government majority, which has 155 seats out of 300, said the vote &quot;is a unique opportunity for the country stands.&quot; The new finance minister Evangelos Venizelos called on MPs to &quot;get serious and unity (&#8230;) so that the coffers are not found empty at the beginning of July.&quot; </p>
<p> The ministers of the euro zone must meet July 3 to give the green light to the payment of the fifth tranche of the loan to Greece in May 2010, crucial for the country to honor its schedule in July and pay pensions and salaries.If the budget was not passed, Greece would be faced with the possibility of a default in the summer, with a global shock wave considered superior by some analysts to the effect on the markets by the failure of U.S. bank Lehman Brothers in September 2008. </p>
<p> However, if the new austerity program would be rejected, the euro area would work on a &quot;plan B&quot; to avoid bankruptcy of Greece and contagion to other countries, according to a European official. &quot;We do not think what we&#39;re working, you can be certain,&quot; the source said speaking on condition of anonymity. The official said even in this case &quot;the next step is not a default&quot; of Greece. He declined to give details at this point. </p>
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