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One third of these assets was deposited in banks in the UK, 10% in Switzerland. In total, the Greeks withdrew their banks 65 billion euros since the beginning of the debt crisis. The facade of the National Bank of Greece after a demonstration.

A total of 65 billion was withdrawn from banks in Greece since the beginning of the debt crisis in 2009, of which 16 billion was legally transferred to banks abroad, said Friday the Greek Minister of Finance Evangelos Venizelos, before Parliament, in response to questions from MPs in terms of debt restructuring and the new Greek EU aid, still under negotiation with creditors.

According to the minister, "32% of the 16 billion euros have been deposited in banks in the UK, and less than 10% in banks in Switzerland". According to figures from the Bank of Greece, deposits at end December 2009, banks in Greece, amounted to 237.3 billion euros, and in June 2011, they amounted to 188.1 billion euros. With a shortage of liquidity in the country, Evangelos Venizelos defended the new plan of European aid to Greece, which is to strengthen the capital of banks with 40 billion euros, and "ensure the economic recovery".

The recapitalization of Greek banks must intervene in the erasure under 50% of the nominal value of bonds held by private creditors to ease the debt burden of countries, which must pass 160% of GDP currently at 120% in 2020. The minister stressed the "importance" of the finalization of the agreement on debt relief and the payment of the new international loans to countries € 130 billion, agreed in October in Brussels by the euro area, to that the country avoids default in payment by March 20, when Greece must pay 14.5 billion euros of bonds due.

Since same day cash advance is a high risk loan for the lender, the interest rates charged are high. The lender has no security and does not even conduct a credit check.

According to a survey, less than a third of French say they are willing to buy the French public debt. The survey refers to the success of the "day Treasury Bills" in Italy where the people were invited to invest in government debt. It goes from 8.86 to 9 euros gross time to reach 1,365 euros for 35 hours, or about 1,073 euros net per month.

Less than a third of French say they probably or definitely willing to buy the French public debt if they were given the opportunity, according to a Harris poll for the site information and the agency Jolpress Image & Strategy to be published Tuesday in the Tribune . Only 6% of French people would buy "certainly" the debt of the country at rates comparable to those charged by banks, and 24% would buy "probably" of such bonds, said the survey.

Groupama will raise 1.8 billion euros through asset sales, including a 44% stake in the group of real estate Silic and Eurocourtage GAN insurance broker, said on Monday in a source familiar with the matter.

The French mutual insurer wants to raise 800 million euros by the end of the year by selling its share in silica, which is now the subject of preliminary discussions with several companies of real estate and insurance, said the source.

Groupama is also looking to sell its subsidiary GAN Eurocourtage, which he expects at least one billion euros, she said.

Between 2005 and 2010, they have jumped nearly 22%, while inflation rose only 8.05%, according to the National Union of ownership. It is Paris that has seen the largest increase. A jump of 72%. Paris won the prize for the largest increase in property tax with a jump of 71.97 between 2005 and 2010.

The National Union of property (UNPI) denounced Wednesday again a sharp increase in property taxes that it believes strongly amputates the purchasing power of the landlords. "Landlords have a lower purchasing power of 10% in 5 years because of the different measures that strike, including sharp increases in property taxes," said Jean Perrin, president of the UNPI, presenting the fifth edition of the Observatory of property taxes.

According UNPI, property taxes rose nearly three times more than inflation between 2005 and 2010.Total contributions from property tax on buildings increased by an average of 21.94% while inflation increased by only 8.05% between January 2005 and January 2010, according to UNPI. "To this we must add a small increase in rents, an increase of the tax and regulatory obligations as expensive diagnostics and new safety standards for elevators," says Perrin.

The amount of property tax is calculated on the basis of the rental value of the property on which the shares are perceived regional, departmental and municipal levels and, where available, for the shares of municipalities and city.

The Greek economy contracted by 5.2% annually in the third quarter, according to preliminary estimates by the national statistics agency Elstat and released Tuesday by the European agency Eurostat.

The pace of contraction in gross domestic product (GDP), however, shows a slowdown since the third quarter decline comes after a decline of 7.4% in the second and 8.3% in the first (revised).

Despite this slight improvement, Greece appears to undergo some pout its fourth year of recession in 2011 and there is no indication that things will work out in 2012.

The fall in GDP was largely the result of a drastic reduction in wages and pensions, loss of significant numbers of jobs and an increase of taxation, the measures imposed by international rescue plan for to save the country from bankruptcy.

Greece and its creditors to expect on a 2011 contraction of 5.5% of GDP.

This is an estimate adjusted data when figures released Tuesday are not adjusted.

"A significant improvement is unlikely in the fourth quarter in light of the deteriorating conditions at work with its major trading partners, a feeling depressed household and new austerity measures which took effect in September," said Plato Monokroussos, economist at EFG Eurobank.

The Tokyo Stock Exchange ended down 1.27% Tuesday as investors fearing a deterioration in the European debt crisis when approaching a crucial parliamentary vote in Italy.

The Nikkei lost 111.58 points to 8,655.51 and the Topix, larger yielded 12.42 points (1.66%) to 738.03.

Title Olympus plunged 29%, the group acknowledged having made M & A loans to cover losses on investments in stock dating from 1980.

The powerful U.S. broker MF Global is set to the tune of 6.3 billion euros in European debt. This is the eighth largest bankruptcies in the United States since 1980. The shock wave will however be less than that caused by the collapse of Lehman Brothers. The U.S. broker MF Global, coming off a black week, filed for bankruptcy Monday, October 31.

The U.S. broker MF Global, in particular very difficult situation because of its exposure to European debt, filed for bankruptcy, according to court documents available on Monday. The company has submitted a New York court record placing it under the protection of U.S. bankruptcy law, the board felt that this operation was "in the interest of the company, its creditors, its shareholders and other stakeholders. " This would be the eighth largest bankruptcy in the United States since 1980.Among the largest creditors of MF Global include U.S. bank JPMorgan Chase and Deutsche Bank German establishment and the media group CNBC.

MF Global, which appears as one of the first commodity dealers and products in the world, was in a very difficult position because of heavier than expected losses announced last week. Already battered on the market since the summer, the New York group had agreed on this occasion be exposed to the tune of $ 6.3 billion in European government debt, more than half in Italy and more one billion to Spain, two countries in the sights of investors.

"The biggest victim of the debt crisis"

Rating agencies have subsequently threatened to bring down its debt in the "speculative", which would have signed the end of its activities.Faced with speculation on the establishment, the action of the group was suspended earlier in the day on Wall Street and the New York branch of the Central Bank of the United States announced it would interrupt his dealings with the facility . According to the Wall Street Journal, talks with Interactive Brokers Group, which had planned for the weekend to buy the assets of the broker for approximately a billion dollars, were ultimately unsuccessful.

The bankruptcy of the group could send a shock wave in the markets, but its impact should not be as important as the impact of the collapse of Lehman Brothers in 2008. However, these are "the biggest victim so far of American debt crisis of Europe," said analyst Chris Low of FTN Financial before the announcement. "Fortunately the situation of the company is unique.

The French authorities are willing to lower their growth forecast for 2012, considered too high against the global economic slowdown, and thus provide for other relief budget for next year.

Widely expected, the prospect of saving measures or additional revenue in 2012 is only anticipating the re-shaping of the budget after the scheduled presidential and parliamentary elections of spring, whatever the outcome.

The government was caught in August, choosing to keep its forecast of growth of 1.75% next year, while lowering its forecast for 2011, a decision that French officials were justified by the desire not to show a "pessimism" excessive, in an atmosphere of high anxiety related to the sovereign debt crisis in the eurozone.

For comparison, the Reuters consensus of economists sees French growth to 0.9% or 1.0% in 2012, Deutsche Bank provides such a very low 0.3%.

The finance minister, Baroin, acknowledged Tuesday that the current target is "probably too high" and it expressed its readiness to further action to meet commitments to reduce the public deficit.

Among the factors explaining these statements, confirmation of the global economic slowdown is reflected in recent indicators and the announcement by Moody's estimated that the stable outlook associated with the French sovereign rating, the famous "triple A".

Germany this week it lowered by almost half its growth forecast for 2012, waiting now 1.0% instead of 1.8%. The German Minister of Economy, Philipp Rösler, explained that "the pace of expansion slowed, as expected."

PRESSURE INCREASED MARKET

The pressure of financial markets has intensified significantly over France since the announcement of Moody's.

The yield on government bonds to 10 years rose sharply, exceeding 3.2% Friday while it was 2.6% in early October.The yield spread with German debt (the "spread") has further increased to over 120 basis points (or 1.2 percentage points) during the meeting, beating the highest in 19 years recorded this week.

No leads have yet been revealed on possible additional measures to keep the deficit reduction promised by France, 4.5% in late 2012 after 5.7% in late 2011. The government has just promised not to touch the devices that it considers useful to support employment, consumption and hence growth.

Baroin said that "we still have enough tax loopholes, if necessary, we will remove them."Hundreds of derogating tax revenue amputate the tens of billions of euros each year.

Personalities of the majority, the rapporteur of the Committee on Finance of the National Assembly, Gilles Carrez, one of the leading experts of the budget in Parliament, to find out that 5 billion or more next year on a public expenditure of about 1,000 billion euros, would not be a problem.

Members who are currently discussing the draft budget for 2012, however, rejected amendments socialists who cut 10 to 15 billion euros of additional tax loopholes next year.

A study by rating agency Standard & Poor's issued Friday said the risk posed to the States a possible return of the recession in the euro area.The scenario of a dip recession could well lead the agency to downgrade two notches notes Portugal, Italy and Spain, the French note of it from AAA to AA +.

A senior Fitch meanwhile said Friday that the agency did not intend to lower the sovereign rating of France. "We have no plans for decommissioning of France," said David Riley, responsible for scores of sovereign debt, to reporters.

France and Belgium flew Tuesday to rescue Dexia, while the scenario of a dismantling of the Franco-Belgian bank, weakened by the financial crisis and in particular its exposure to Greece, is gaining credibility.

Placement, the day before, on negative watch Dexia's debt by Moody's, due to concerns of rating agency on the group's liquidity and access to bank refinancing, has accelerated the process.

Dexia shares had lost up to 38% in Tuesday morning, reaching its lowest historical levels, then some limit its losses in the afternoon.

The stock closed lower by 22.46% to 1.01 euros while the index of European banks, although hit by new fears over Greek sovereign debt, has limited its losses to 4.02%.The stock has lost nearly 60% since the beginning of the year, bringing its market capitalization to less than two billion euros.

Emergency meeting, the board of directors of the bank commissioned the night of Monday to Tuesday the CEO, Pierre Mariani, so that it addresses the structural problems of the group, three years after a first plan Rescue audience of over six billion euros, which enabled Dexia to avoid bankruptcy.

The National Federation of Belgian union employees (CNE) said Tuesday it had learned of a decommissioning project at Dexia in several separate entities, which would threaten 150 jobs within the bank holding company.

Several French and Belgian politicians spoke publicly on Tuesday proposed creation of a "bad bank", a separate defeasance structure where the bond portfolio would be stationed at risk for the bank, amounting to some 100 billion euros .

"We need to look at how to change this group.We must remove all the dangerous parts of the bank, this is where the state guarantees come into play – that's what we call a 'bad bank' – then we can give guarantees to customers that if they are depositors or solicitors credit, "said Belgian Finance Minister Didier Reynders in an interview with television channel RTL.

SUPPORT OF CENTRAL BANKS

In a joint statement, Didier Reynders and his French counterpart Francois Baroin committed and that the two states make "their guarantee to funds raised by Dexia."Central banks in both countries have also made their support for Dexia and stressed that the bank's customers had no reason to withdraw their money at the box office.

The creation of a new French bank – which would lean part of the portfolio of loans to local Dexia to those of the Deposit and the Post Bank – is also under consideration.

This funding could be organized in partnership between the Deposit and the Postal Bank."This may in particular through the resumption of activities of Dexia in this area," he told Reuters a source close to the CDC.

A meeting of the Investment Committee of the Supervisory Board of CDC to be held Wednesday, but there is no evidence that the project is complete enough to be formally introduced.

According to the rapporteur general of the UMP Senate Finance Committee, Philippe Mariani, confirming that such a project is under consideration for funding local government does not inject money directly in the operation .

However, the hypothesis of a sale to another Dexia European banking group, on the model of Fortis sold to BNP Paribas, has not favored by analysts, investors, stressing that Dexia is not salable in the state.

The Dexia Group is mainly composed of a retail bank in Belgium, a private bank in Luxembourg, the pole of financing local authorities in France and banking Denizbank in Turkey.Maintaining this "nugget" of Turkey within the scope of the bank as well as the division's management, may seem equally uncertain.

THE FATE OF MINORITY

The question of a recapitalization by the States, would constitute a de facto quasi-nationalization has not been formally excluded.

"Everything will depend on the scheme presented by the management of Dexia," said the Belgian Minister of Finance.

Barely mentioned, the new rescue plan for Dexia, which would be the first bank in Europe victim of the crisis of sovereign debt, has prompted reactions from representatives of minority shareholders of Dexia.

The consulting firm shareholders Deminor has insisted in an open letter to shareholders to be consulted before any decision..

A speech relayed by the chairman of the Finance Committee of the French National Assembly, the Socialist Jerome Cahuzac, who also considered that the shareholders of the Franco-Belgian bank should be involved in resolving this crisis.

The European Banking Authority (EBA) has announced that it would discuss at its meeting Wednesday of the situation of Dexia and, more generally, problems of financing in the euro area.

The new Senate president, the Socialist Jean-Pierre Bel, will propose to Jean-Claude Gaudin, the head of UMP senators, a governance agreement on the operation of the Upper House. Jean-Pierre Bel, an elected Ariège, 59, was elected on October 1 by his peers first socialist president in the history of the Senate.

Jean-Pierre Bel, PS new President of the Senate, Tuesday said he favors a presidency of the UMP Senate Finance Committee, and the creation of two additional committees and that of a green group. Europe 1, Mr Bel, who was elected Saturday during a "day copy," he said, indicated that he would, in the morning to offer Jean-Claude Gaudin, head of UMP senators, "an agreement governance on the functioning of the Senate. "

If there is agreement, "we can make this opening," "I am in favor," said the elect of the Ariège about a UMP president of the Committee on Finance, which is the counterpart of President assured the Assembly by the PS Jerome Cahuzac. When asked if he would entrust to a centrist M. Bel said: "I am a democrat, the UMP is the largest group of Senate opposition." This commission was chaired before switching to the left of the historic High assembly, the centrist Jean Arthuis.

Jean-Pierre Bel is also the creation of two additional committees in the Senate, which will increase from 6 to 8 and will thus be at the Palais Bourbon. "For example issues related to sustainable development more relevant than before. The Senate should move," said the President.As for its allies the Greens "one has to live with diversity," he said, in favor of their organization in groups, which means lowering the threshold to 10 elected.