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Group management Peugeot Citroën confirmed Wednesday that alliance projects from an article by LaTribune.fr evoking discussions in the finals with General Motors.

After had tried to ally with Japan's Mitsubishi, having denied rumors of a partnership with Fiat, PSA Peugeot Citroen acknowledged Wednesday review "projects of cooperation and alliances" but did not specify with whom the French group was under discussion. These statements came as the site reported Tuesday LaTribune.fr advanced negotiations for a marriage with General Motors. The U.S. giant has also refused to confirm specific talks, merely referring to regular discussions with automakers.

The site is LaTribune.fr meanwhile status talks between General Motors and PSA "started several months ago" and "entered their final phase." He cites a confidential source that these discussions are "advanced" and are "an alliance, not ad hoc cooperation." They "have not yet been successful, there is no agreement at this stage," said the source.

Finding the right partner

PSA has denied rumors in January in the Italian press for a merger with Italy's Fiat-Chrysler. But the new director of the brands is the French sector, Frederic Saint-Geours, had indicated that PSA was "quite open" to the idea of ​​a marriage, provided "the right partner." "For now, there is no alliance in progress", he added.

Two years ago, PSA had attempted to ally with Japan's Mitsubishi, but the operation had failed. The project was buried in March 2010. The press then reported a reluctance on the Peugeot family, which holds 30.3% stake to 45.74% of voting rights. Sales of French number one industry, and number two in Europe, suffered in 2011 from the poor health of the European car market.

PSA wants to expand internationally. But there is lack of funding and somewhat isolated on the world stage, in front of Volkswagen, GM, Toyota or Nissan Alliance, said LaTribune.fr. Partner with the world number one what General Motors, which posted record profits last year, could be a solution, according to the website.

An announcement could be made in early March at the Motor Show of Geneva, according LaTribune.fr.

The Greek government on Saturday approved the final version of the austerity measures demanded by the EU and the IMF to release an aid package of 130 billion euros .

The government approval was a formality after the adoption, last week, a series of measures aimed at saving 325 million euros including through reductions of wages, salaries and pensions.

"These austerity measures were approved unanimously," said one minister, who requested anonymity. 

The government during the same meeting set for March 8 opening date of the exchange of Greek sovereign bonds held by private creditors, with the hope to complete the operation before March 11, said an official source.

This exchange will result in a discount of 70% of the real value of debt held by private investors.

The Greek government hopes that these initiatives will enable the adoption of the bailout by member countries of the eurozone at their summit in Brussels on Monday.

"The Greeks did everything they could and we are committed to keeping our commitments," said Minister of Public Order, Christos Papoutsis. 

Prime Minister Lucas Papademos said in a statement regretted having to solve a new lower pensions but assured that the impact of this measure would remain limited as it only concerns a pension exceeding 1,300 euros.

"We all agree that the support of economic activity is our priority," he added, without specifying what measures he intends to eventually take to restore growth.

A poll for the Sunday newspaper Realnews, 72.7% of Greeks want a continuation of Greece in the euro area, but only half of them think it will get there.

France is already in recession and is expected to slow growth of 0.3% in 2012 according to the OECD considers it essential to save 0.4% of additional GDP. 8 billion euros.

The OECD has drastically revised down its growth forecast Monday for France, which would be barely positive in 2012 after a "short" recession, a situation that "requires" a new anti-deficit to take the international commitment of Paris. Far from the 1% growth still officially expected by the French government next year, the Organization for Economic Cooperation and Development is no longer considering a meager increase of 0.3% of GDP in its latest economic forecast delivery biannual. Six months ago, it expected 2.1% but still on the deepening crisis in the euro area has been through it.

The recession that know France in the fourth quarter 2011 and first quarter 2012 would be "small scale", according to the organization. But faced with these projections, the poorest to date of an international institution, it urges Paris to a new fiscal tightening. "Given the slowdown in economic growth and the increasing burden of debt," the goal of returning the public deficit to 4.5% of GDP in 2012 "will require new measures of fiscal consolidation," says she said.

"We would suggest a further fiscal consolidation to achieve the desired objective," confirmed its chief economist Pier Carlo Padoan, during a press conference.

The International Monetary Fund (IMF) has extended its credit instruments Tuesday and announced the creation of a new liquidity line to six months to support the country weakened by the European budget crisis.

The IMF said that the new line Precaution and Liquidity would act as "insurance against future shocks and as a window for short-term liquidity to meet the needs."

This new line will provide access to liquidity to finance six months, up to five times the quota of the member country concerned, and may also be used as part of an arrangement for a period of 12 to 24 months with this time access up to 10 times the quota of the country.

The IMF also created a new Financial Instrument for Rapid countries with balance of payments is facing urgent needs due to "external shocks" such as natural disasters.

"We acted quickly and the new instruments will respond more quickly and efficiently for the benefit of all members (IMF)," said Executive Director of the IMF, Christine Lagarde said in a statement.

On the occasion of the International Forum of Culture of Avignon, the company publishes Tera Consultant on Thursday a report claiming that a city that invests 0.7% of GDP per capita in the culture can hope to gain in return for 9% of the same GDP per capita. The Palais des Papes in Avignon

The International Forum for Culture Avignon began Thursday. On this occasion, the society of economic expertise and strategic Tera Consultant, in partnership with consulting firm Kurt Solomon, published a report on the impact of spending on culture of cities, based on criteria such as the migration rate, the number of visitors, the number of cultural sites of all types (including universities) and the share of cultural spending in GDP, studied in 47 cities on 21 countries.

Spending on culture of the cities studied are, on average, 0.7% of GDP per capita.

The Prime Minister had offered his resignation from the government if his ministers to help get the vote of confidence tonight. It would then form a unity government with the right. Greek Prime Minister George Papandreou at the EU summit of June 23, 2011.

The Prime Minister was prepared to resign, reports Reuters. The agency, quoting government sources said that Papandreou would have reached an agreement with his ministers in which he agrees to resign if his ministers are supporting the vote of confidence to be held on the night of Friday Saturday. Which would be for the Prime Minister an honorable exit after the controversy in his own party on the usefulness of the referendum that Papandreou wanted to implement.

France is preparing to revise its growth forecast for 2012, currently set at 1.75% of GDP, writes Le Figaro Friday, citing a source within the government.

The announcement would follow the warning earlier this week by the rating agency Moody's on the signing of the French debt and that made Thursday by Germany, to review its own growth forecast for the year year.

Economists on average expect a French growth around 0.9% of GDP in 2012.

"We know that we are above the consensus of economists and we are prepared to adapt and make the necessary budgetary measures, as did the Germans," says the government source quoted by Le Figaro.

The decision to review the press the growth forecast for 2012 is little doubt but France has yet to define the timing and scope of this review, writes Le Figaro.

Moody's announced that it would evaluate within three months the stability of the Aaa rating enjoyed by the French sovereign debt and allows France to borrow at lower cost in the financial markets.

This period of three months should assess the impact on French public finances of an agreement – or lack of understanding – of the countries in the euro area over the settlement of the debt crisis in general and the Greek problem in particular.

The topic will be the focus of European Council discussions on Sunday, which means to increase the power of the European financial stability and improve European governance should be the order of the day, and a plan recapitalization of European banks.

Francois Fillon said this week that the austerity measures it announced in August, based on a growth forecast of 1.75% next year, would still be effective for growth of around 1.5 %.

The prime minister did not rule out the need to introduce more rigor in the event that growth in France would be even lower.

The government has committed a reduction of tax loopholes to allow France to achieve its objectives to reduce its public deficit to 4.5% of GDP in 2012, 3% in 2013 and 2% in 2014.

was the first World Day of "outraged", attended Saturday tens of thousands of people, was marred by violence in Rome and dozens of arrests in New York. Violence in Rome during the World Day of indignant protest, Saturday, October 15, 2011

From Europe to the United States through Chile, the first World Day of "outraged" gathered Saturday tens of thousands of people and was marked by violence in Rome and dozens of arrests in New York.Under the slogan "People of the world, stand up" or "Go down the street, creating a new world", the "outrage" had called for demonstrations in 951 cities in 82 countries, according to the site 15october.net, against precariousness related to the crisis and the power of finance.

Saturday night at Times Square in New York, U.S. law enforcement has made 71 arrests as a result of an anti-Wall Street that brought together several thousand people, according to a report from the police. The demonstrators were immediately embedded in several police vans, said a journalist from AFP. Earlier, police on horseback had rejected the protesters who tried to enter the site. One person was injured by falling to the ground when the panicked crowd began to run.

"Every day, every night, take care Wall Street," "We the people", "We want to work," chanted the demonstrators.In Washington, several thousand more "outraged" have joined together to protest against the "greed" of finance, for "jobs and justice". Some 300 demonstrators gathered in front of the White House and the Treasury Department against "financial mafia", before joining another rally, with several thousand people gathered at the call of twenty organizations. More than 10,000 Canadians have also expressed, signs or guitars in hand, including 5000 in Toronto, in the financial district.Their demands ranged from a better distribution of wealth to "the truth behind 9 / 11", or "animal rights".

Violence in Rome

In Europe, the spectacular violence broke out in Rome, making 70 wounded, including three serious sidelines of the parade which brought together tens of thousands of people, under signs proclaiming "One solution, the Revolution!" or "We are not property in the hands of bankers." Rogue elements stormed a luxury hotel, smashed the windows of banks and set fire to an annex of the Department of Defense. Several cars were torched.

By late afternoon, the historic square of the Basilica of St. John Lateran was turned into a battlefield.Police have charged hundreds of young people throwing smoke bombs, bottles and Molotov cocktails against the police, while peaceful protesters were leaving the place the arms in the air not to be confused with the rioters. In Athens, epicenter of the European financial crisis, several thousand demonstrators gathered in the evening before the Parliament in a friendly atmosphere.

Portugal, another country hard hit by the crisis, 50,000 people of all ages marched in Lisbon, shouting "IMF out" rows behind a banner proclaiming "Stop Troika", in reference to the creditors of Portugal (EU Bank European Central Bank, International Monetary Fund). In Madrid, the birthplace of the movement was born May 15, tens of thousands of people have converged to the Puerta del Sol, iconic place that the "outrage" had occupied for a month in the spring."The problem is the crisis, rebellion-you," proclaimed a huge banner at the top of the march. In the evening, a sea of ​​people invaded the place, where the demonstrators were frozen in a "silent cry", a symbol of oppression.

Clashes with police in London

In London, where minor clashes with police took place at midday. 800 "outraged" gathered in the City and received unexpected reinforcement of the founder of Wikileaks, Julian Assange, on parole near London pending a possible extradition to Sweden where he was charged with rape."We support what is happening here because the banking system in London is the recipient of money from corruption," he said on the steps of the Cathedral of St. Paul, where the demonstrators were massed.

The "outraged" also benefited from the understanding of the Governor of the Bank of Italy, Mario Draghi, who must take the lead next month the European Central Bank. "Young people are right to be outraged," said Mr. Draghi told reporters on the sidelines of the G20 meeting in Paris. "They are angry against the world of finance. I understand," said the economist of 64 years, while deploring the incidents in Rome.In the Netherlands, a thousand demonstrators gathered in The Hague, as the Place de la Bourse in Amsterdam, and a thousand as the Paradeplatz in Zurich, emblematic place of finance in Switzerland, while Paris was attended by several hundred as "outraged."

In the Balkans, the gatherings were attended by about 3,000 people in Zagreb and hundreds in other cities, including Sarajevo and Belgrade. Rallies were also held in Latin America. More than 5,000 "outraged" Chilean and parade in Santiago. The protesters had targeted the high places of global finance, as the ECB in Frankfurt, from 5000 to 6000 before which people gathered. "From America to Asia, Africa, Europe, the nations rise to claim their rights and demand a true democracy," said the manifesto of October 15.

Greece missed the deficit targets that were assigned by its international donors for this year and next, according to figures released Sunday by the Greek Ministry of Finance after approval by the Government of the draft budget 2012.

The Socialist government of George Papandreou was validated at the same time a plan to drastically reduce the number of employees, matching the most controversial release of funding from the European Union (EU) and the International Monetary Fund (IMF) .

This component of the reforms demanded by the creditors of Athens is the most sensitive in the eyes of public opinion.But Greece can not do without international financial assistance, including a new $ 8 billion is currently on hold, pending the findings of the inspectors of the "troika" – EU, IMF and European Central Bank .

Athens now expects that the deficit reached 8.5% of gross domestic product (GDP) this year, while the EU and the IMF had demanded that the deficit does not exceed 7.6% of GDP.The draft budget projects the deficit will be reduced to 6.8% in 2012, against a target of 6.5%.

The Europeans are trying to avoid at all costs a default of Greece on its debt, which would affect the continent's banking sector – banks hold some of the Greek debt – on the future of the single currency cascade and may cause a new global economic crisis.

Growth forecasts for the budget adopted in 2012 point to a contraction of 5.5% of gross domestic product (GDP) this year and 2.0-2.5% next year.These figures are the latest IMF projections, but are much more pessimistic than the projections used to calculate the bailout plan of 109 billion euros on July 21, anticipating a growth of 0.6% in 2012.

A "worklist"

This exceeded the deficit target in 2011 means that Greece will need two billion more if only to fund its spending this year.

It also means that tax increases and wage cuts announced over the last two months by the Papandreou government have failed to redress the country's finances.

The European finance ministers who meet in Luxembourg on Monday and Tuesday will consider the Greek case but should await the report of the inspectors of the troika before any further decision.

These last four days, the Greek leaders have chained discussions with experts IMF-EU-ECB.

To convince them to recommend the release of a new tranche of aid, Athens is committed to creating new taxes to lower wages of the public service average of 20% and reduce the number of staff by 20% 2015.

Among the austerity measures, deeply unpopular, while Greece is a three-year recession, announced the dismissal of officials going particularly badly in a country where 20% of the workforce is employed in the service of the state and enjoyed so far a guarantee of lifetime employment.

The government has approved the creation of a "worklist", where 30,000 employees would be affected by the end of the year with a drop of 40% of their compensation. After a year they would be dismissed.

Strikes and demonstrations are planned in the coming weeks to call the unions, who also hope to "return" of the socialist deputies.For now, the government has only four-seat majority in Parliament.

"There is money three months before the end of 2011 and the final estimate of a deficit to 8.5% of GDP can be achieved if the state apparatus and the citizens act accordingly," the Greek Ministry of Finance said in a statement, adding that the draft budget will be submitted to parliament Monday.

German MPs approved by an overwhelming majority of the rescue plan of the euro zone. Germany is the eleventh country approves the text in Europe. German Chancellor Angela Merkel (Blegrade by August 23, 2011)

The German parliament approved Thursday by an overwhelming majority the extension of relief funds in the euro area (EFSF), reassuring the commitment of Europe's largest economy to support its partenaires.Au total of 523 deputies in the assembly which has 620 members voted "yes", said the chairman of the meeting Norbert Lammert. Germany is the eleventh country to approve the expansion of the envelope and the powers of the European emergency fund created in 2010 to assist countries in the euro area in need. This will be the largest contributor. Of 611 votes, 85 deputies voted against and three abstaining.

The outcome of the vote was not in doubt, two of the three opposition parties, the Social Democrats (SPD) and Greens, who have promised their votes. This is the detailed statement of votes, published in the afternoon, which will interest most observers in Germany and abroad. "If it appears that (the law) would not have passed the Bundestag without the help of the opposition, this would be a big setback" for Chancellor Angela Merkel, said Holger Schmieding, of Berenberg Bank. "It would come in Germany as a loser," said the analyst, for whom the setback would only fuel questions about the survival of the coalition.

It also feeds the doubts about the ability of the coalition of Merkel to take the next necessary decisions to resolve the debt crisis in Europe: vote in the coming weeks on a second aid package to Greece, and early 2012 on a permanent rescue mechanism (MES) to succeed the EFSF. Reassuring, at least temporarily, the ability of Germany to play its role as a pillar in the euro area will require at least the positive votes of the majority – conservatives (CDU / CSU) and liberal (FDP) – - exceed the number of votes cast by the opposition. In this way, Merkel would not have needed the votes of the opposition.

It would be even better if his side win an absolute majority or 311 votes "for" the assembly with 620 members.In recent weeks the government managed to silence the bulk of the resistance in its ranks, notably by developing the law on EFSF expanded to include greater involvement of parliament in use in each case the mechanism. "One or the other friend has a different conception of things," conceded during the debate the leader of the Conservative caucus (CDU / CSU) Volker Kauder, referring to the reluctance of a number of his colleagues. But the vote on Thursday will be "an important contribution to our country for the future of Europe," he promised.

The expansion of EFSF, already helped to Ireland and Portugal through loans, giving it a capacity credit to 440 billion euros. It also allows him to buy on the secondary market for the debt of the sentence, a task entrusted to date with the European Central Bank (ECB).The upper house of parliament, the Bundesrat must also endorse the law Friday in an exceptional session, a formality.