Made with a hidden camera and broadcast for the first time Friday on ABC, the video was shot by Mercy for Animals Association (Pity for animals) in a poultry farm in Minnesota "Sparbo Egg Farms" .

Analysts saw in recent weeks that the Italian bond market suffered from a premium of distrust Berlusconi estimated at 100 basis points (1 percentage point) on the rates of government bonds to 10 years. Not surprisingly, the announcement of his impending departure should have been welcomed by a substantial amount of rates.

Twisted smile politely explaining the Japanese representative "wait for clarification techniques on European political situation," sharp statement of the President of Brazil, Dilma Rousseff, which "does not intend to contribute directly to the European financial stability while European refrain "… As summarized brutally German Chancellor Angela Merkel," there is hardly anyone in the G20 to invest in the European financial stability "-the EFSF, which is used to avoid spread of the debt crisis to other countries, after Greece.

After a G20 parasitized by this crisis of European sovereign debt, the French presidency has nevertheless saved the point. The twenty richest countries have agreed to "boost growth, create jobs and ensure financial stability." An important phrase in the context of global economic slowdown the temptation of protectionism and isolationism is very strong. But unlike the summits in London and Pittsburg, in 2008 and 2009, no figures dramatically to install confidence and restart the machine. Fiscal imbalances of the major developed countries prevent it.

"A successful but more work"

Paris has nonetheless achieved significant progress in convincing every country to take action at his level to stimulate its economy.

Regarding the French part, the financial terms of the transaction is blocked. The company refinancing of loans to local authorities, Dexia Municipal Agency (Dexma), 65% will be taken by the CDC, 30% by Dexia and 5% by La Banque Postale (LBP).

Six weeks after the start of negotiations, all is not settled. It remains to define a framework for partnership in the business side.Now, the production of loans to communities will take place through a new bank, majority owned by LBP associated with the CDC. At the request of Philippe Wahl, chief executive of the subsidiary of La Poste, Dexia is not associated to thoroughly immunize the future against the troubles of the past. A real humiliation for the group and a cause for concern. "Uncertainties remain about the new role of Dexia Credit Local and a possible transfer of activities from DCL (the new location)," the CFDT warned Tuesday, recalling that the former Crédit local de France employs 1340 employees.The unions have asked to meet Dexia Baroin, the Minister of Finance.

Risk of breakdown of funding

Several hundred people being responsible for monitoring the loans and Dexma residual portfolio management, the debate is about the teams likely to be transferred to the new bank. "La Banque Postale does ensure that some of the activities undertaken by DCL, eg excluding short-term funding, social housing or health," warns one close to Dexia. Already some experts warn against the fact that local authorities will find themselves running out of funds. While production of Dexia – 3 billion euros this year – was already insufficient, the new bank plans to ramp up gradually. "It's open. If it is possible to produce more profitable loans, we will do, "cautions one close to the negotiations.

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Bluff or not, this threat reveals the uneasiness of the Federation kiwi affected financially by the organization of the current World Cup. Certainly, the event is almost historic land of the long white cloud. But the financial benefits expected from this great mass of world rugby is limited. In the end, New Zealand will lose even money (about 39 million New Zealand dollars, or 22.33 million euros).The New Zealand government will pay part of the losses, but the federation itself will also put their hands in the pocket to the tune of two thirds of the money lost.

Shortfall of 7.5 million euros

However, these losses are organizing a one-time difficulties. Because the real malaise lies elsewhere. Steve Tew, it's participation in the competition itself that is the problem. Every 4 years, federations qualified in the northern hemisphere and the south need to change their schedule (suppression test matches, shortening the Tri Nations tournament …). What cause a shortfall in terms of result and television advertising revenue and ticket sales. This year's Tri-Nations tournament, in which compete each year in New Zealand, Australia and South Africa, for example, was reduced from nine to six games due to World Cup.In Europe, the fall tours were also canceled.

In a World trade rules of the International Rugby Board (IRB) also prohibit the presence of the sponsors of the national federations. This accentuates the downward pressure on commercial benefits. In the end, the Federation of New Zealand (NZRU) said the shortfall related to participation in a 13 million New Zealand dollars (7.5 million). Great on a budget of around 55 million euros. A price she can afford all four years, according to Steve Tew.

If they win the All-Blacks, the players would receive such a bonus of 55,000 euros, depending on the site sportune.fr. Barely more than the French players to touch the earth just move in New Zealand (45,000 euros).If they win the XV of France, the French would also reward of 180,000 euros extra.

Australia to support

In his threat to boycott, leaders of New Zealand have received support from their neighbor Australia. For its part, the Australian Federation (ARU) said the losses associated with participation in the World Cup to 16 million Australian dollars (about 11.5 million euros). All federations combined, the overall shortfall would reach between 35 and 40 million pounds (40 to 16 million euros). "As noted by Steve Tew, the current economic model is unacceptable and can not be encouraged," said the general manager of the ARU, John O'Neill.We ask the IRB to resolve the problem quickly, because as a national federation, the ARU can not afford to have huge losses every four years. "

For many, the threat of New Zealand is not serious, its national team can not really do without the visibility provided by the participation in the World Cup. But the argument did fly, the IRB had promised the opening of discussions after the World Cup to avoid a radical decision.

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U.S. consumer confidence is indeed stable in September at a level close to its lowest point reached two years ago at the height of the crisis. American households are also more likely to say that it is difficult to find a job. At the same time, European governments are struggling to resolve the debt crisis.

Thus the eyes of the president and co-founder of the fund Roubini Global Economics, "the question is not whether or not there will an economic contraction, but rather what will be the extent of recession and if we know a new international financial crisis. " The influential Economist states that "the answer to these questions depends on what happens in the euro area and whether European leaders will be able to act together." At the same time, the preacher of the crisis of 2008 states that "politicians have no more cartridges."

And pessimism legendary Nouriel Roubini told him that the consequences of the debt crisis in Europe could be "worse" than the bankruptcy of investment bank Lehman Brothers in 2008.

Dr. Jekyll and Mr. Hyde of finance

Gloomy predictions that echo the advice provided by Nouriel Roubini to its own customers. In a letter theoretically confidential, the owner of consulting firm Roubini Global Economic Financial has in fact recently recommended its clients to sell their assets to European sovereign debt. According to him, and they realize their "hit of the year." Nouriel Roubini has hammered "take the money and run away easy payday loans."

And if the man turns and respected professor of economics at the head trader of an investment fund, was able to foresee the crisis "subprime" as 2006, it has not always been right. When the stock market index S & P 500 fell to its lowest level in twelve years in March 2009, Nouriel Roubini believed then that he would continue to fall.But the American flag then flew by 65% ​​in the year 2009! Thus remains to be hoped that this time the predictions of Dr. Jekyll and Mr. Hyde of finance will not be realized.

Economists forecast break their

One by one, the big banks revise downward their growth forecasts. These days, economists Exane BNP Paribas announced that they did not exclude a more "negative growth" at the end of the year in France. Societe Generale CIB provides a near-zero growth in activity in the third (+0.1%) and fourth quarter (+0.2%). For its part Bank of America Merrill Lynch table does more for France than on a 1.5% growth in 2011.

Involved, the crisis in the eurozone, according to economists Groupama: "Since the beginning of the summer, the expectations of businesses and consumers are deteriorating sharply, especially in Germany, most likely because of the crisis of governance European ". Clearly, the panic in financial markets and the ongoing crisis on the front of the public debt plunge consumers and businesses in the wait.

But at present, "it is very difficult to judge the extent and duration of the downturn," said Pierre-Olivier Beffy, chief economist of Exane BNP Paribas.

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Monday, Wall Street had already finished in the green.

Since the beginning of the week, investors in Europe and the United States, is won over by a wave of optimism about the outcome of the crisis of sovereign debt. "The beginning of the week is placed under the sign of hope. Investors have decided to give credit to European policy makers and international willingness to find ways to resolve the sovereign debt crisis, "economists observe in Paris broker Aurel BGC. There are "high hopes that one is engaged in the right direction towards resolving the debt crisis in Europe," say experts on their side LBBW. Other analysts, however, want to caution.The strategists of the Crédit Mutuel-CIC believe that "the improvement should not last as rumors seem exaggerated. The expansion of EFSF does not solve the structural problems in Europe, while the challenge is there. "

The spokesperson of European Commissioner for Economic Affairs Olli Rehn, Europe is considering strengthening the capacity of the European support fund for countries in trouble (EFSF). Rumors press also reported a proposed quadrupling of the Fund's lending capacity to 2000 billion euros. In turn, an official of the ECB, the Austrian Ewald Nowotny, did not rule out declines in interest rates in the euro area.But soon, the German Finance Minister Wolfgang Schäuble assured that Europeans had "no intention of bailing out" the EFSF.

Political leaders are still clearly divided on the responses to the debt crisis, while discussions on the payment of a new international loan to Greece, vital to enable it to avoid bankruptcy dragged on. At the same time discontent rises and Athens was again paralyzed Tuesday by a wave of strikes in public transport.

Oil opened up in New York

The euro was weakening on Tuesday to below $ 1.35. Mileu in the day, the euro stood at 1.3496 dollars, against 1.3523 dollars late Monday.He had fallen in session Monday to 1.3363 dollars, its lowest level since mid-January, prior to recover.

As for commodities, gold has recovered slightly this morning at 1640 dollars an ounce after declining over the last three sessions. Oil falls sharply higher this morning in Asian trade after having dropped more than eight dollars last week. Oil prices were moving up sharply at the opening Tuesday in New York, driven by renewed optimism for the determination of the Europeans to resolve the debt crisis in the eurozone business cards design.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery traded at 82.64 dollars, up by $ 2.40 at the close on Monday night.

On the macroeconomic front, house prices in the United States remained stable in July compared with June, according to Case-Shiller survey released Tuesday by Standard and Poor's. The study, however, that over-year, declining home prices for sale widened in July to 4.1%, down less pronounced than the analysts thought.

As for values ​​to be followed on Tuesday:

As for values, Goldman Sachs will intensify its restructuring efforts, after a disastrous third quarter, which could be one of the worst ever recorded by the U.S. investment bank since it went public 12 years ago, says the New York Times.Goldman Sachs will be 1.2 billion to $ 1.45 billion savings goal of operation by mid-2012, the paper said on its website, citing unnamed people familiar with the matter.

The mysterious tablet that the online retailer Amazon.com Wednesday could present promises to be a star among the products' high-tech "of the season, even though the Seattle group has not yet revealed existence.Amazon Wednesday invited reporters to an event which he kept secret the subject, organized in a video production and music in Hell's Kitchen neighborhood of Manhattan.

Motorola Solutions is within the scope of an investigation by U.S. authorities, according to the Wall Street Journal, concerning a possible corruption in the course of its business in Europe.

The Anglo-Australian mining giant Rio Tinto, listed on Wall Street, announced Tuesday it had increased to 49% its stake in Canada's Ivanhoe Mines, the upper limit is included in an agreement between the two groups that intend to operate an entire mine copper and gold in Mongolia.

ONEOK announced expect to achieve a net profit of between 355 and 400 million in 2012, against 325 to 345,000,000 dollars in 2011.For its part, ONEOK Partners expects a net 740 to $ 800 million for the year 2012 against 630 to 660,000,000 for the year 2011, while natural gas volumes processed are expected to increase more than expected.

Also note, Standard & Poor's is within the scope of an investigation by the SEC, the U.S. stock market regulator, who questioned its rating of an issue of structured securities in 2007 just before the market collapse real estate, announced its parent company McGraw-Hill.

Already cleared of toddlers, women will finally be totally alone to shop. Only problem: after half an hour of bliss, a buzzer reminds the ladies half their existence, if they would have already forgotten. Mr. Mrs. So join to challenge his choice of linens, glass and lighting … and why not to pay at checkout.

No planned deployment in France

This solution to rally the spouses who shun Ikea citing another "Stockholm Syndrome" (birthplace of the group) is currently an isolated initiative. The operation took place over four days on the occasion of Father's Day in Australia. "A deployment of this kind of space for men is not in French stores," says Are there Ikea France. The French will have to still support their husbands and vice versa!

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Another new fueling hopes of a crisis: the five emerging BRIC (Brazil, Russia, India, China, South Africa) should discuss next week the opportunity to help the European Union by increasing their holdings of bonds denominated in euros.

Growth outlook gloomy

On the macroeconomic front, the growth of emerging economies in Asia will be less pronounced than assumed in 2011 and 2012 as a result of a decline in exports to the United States and Europe and high inflation, said on Wednesday a report by the Asian Development Bank.Thus, economic growth in Asia (excluding Australia, New Zealand and Japan) should come out to 7.5% in 2011 and 2012, respectively, against 7.8% and 7.7% estimated in April. As for values, values ​​Japanese exports remain under pressure. Canon Inc. falling 3.64% to 3,310 yen and TDK Corp. of 2.28% to 2828 yen.

Other Asian stock markets follow the downward trend of the Nikkei: The Kospi index in Seoul falling 2.95% to 1759.46 points, the S & P / ASX 200 in Sydney down 1.21% at 4023.50 points, the Hang Seng Index of Hong Kong 1.34% to 18,775.39 loose points, and the CSI 200 Index of Shanghai down 0.67% to 2702.08 points and the FTSE Singapore Straits Times Index down 0.26% at 2722 , 20 points. Only the BSE Sensex 30 Bombay rose 0.24% to 16,506 points.

On the foreign exchange market, the euro was down at 1.36 dollars (-0.30%).Oil prices were also down Wednesday in Asia, markets still worried about the debt crisis in the eurozone and a possible bankruptcy of Greece, analysts said. In early electronic trading, a barrel of "light sweet crude" for delivery in October lost 71 cents to 89.50 dollars per barrel of Brent North Sea crude for October delivery 9 cents to 111.80 dollars. "With the danger hovering over the Greek market, prices are highly volatile, very nervous," said Nick Trevethan, commodities analyst at ANZ Research in Singapore.

A situation that the political leaders finally responded. "A nationalization of French banks is totally premature and beside the point," said this morning the Minister of Industry, Eric Besson, on RMC / BFM TV. The latter said that the banks have "very well" stress tests Europe last summer.

If right, then we answer in the negative, this is not the case on the side of the Socialist Party.Thus, to François Hollande, the Socialist candidate for the primary, "If it happened that there is a lack of Greece and the banks are brought to realize losses, there would be an appeal to the State, as in the subprime crisis. The state should not lend to banks, but must take a stake in their capital, "he told the Journal du Dimanche.

"The banks have lied to us in 2008"

For their part, EU officials remain confident in the strength of French banks. The President of the European Central Bank, Jean-Claude Trichet, has confirmed that central banks were ready to provide liquidity to banks should they need it cash advance loan. "Whatever the scenario Greek and therefore regardless of the provisions to go, French banks have the means to cope," said Christian Noyer, Governor of the Bank of France.

What some experts do not agree. "Banks have lied in 2008 and probably still hiding toxic chemicals in their balance sheets," said Marc Fiorentino, CEO of Monfinancier.com, the JDD. Societe Generale has just announced a new savings plan which relate primarily toxic assets, mainly U.S., made unwanted by the financial crisis and the explosion of the market "subprime" U.S..

For the expert, "The State must enter the capital of French banks up to 30%." Which he said would cost taxpayers between 50 and 100 billion euros. Same story on the side of Dessertine Philippe, Director of the Institute of High Finance. "The state is the only one who can help banks recapitalize," he says.The question is how the state will fund this operation and especially if nationalization does not require that other European countries do the same.

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