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 euro area has decided to forceps Tuesday a new record bailout, potentially reaching 237 billion euros for Greece in the hope of avoiding the release of the Monetary Union without allay concerns about future of the country.

The agreement came in the night after more than thirteen hours of negotiations between the Finance Ministers of the monetary union, during one of those crisis meetings in Brussels with the euro area is now used. The agreement must "secure the future of the country in the euro area," he told reporters their leader, Jean-Claude Juncker, while many economists believe the country is doomed to end to leave .

European Commissioner for Economic Affairs, Olli Rehn, told him of a "real chance to make a fresh start" and "an essential step for Greece and the euro area". The aid package includes a component from a public assistance, loans-mainly-to the tune of 130 billion euros until the end of 2014, after an initial program of support for the country decided May 2010 had already reached 110 billion euros. This has proved insufficient. The IMF should be involved, but making less than in previous aid plans. It will take a decision in March.  

The other aspect concerns a debt relief of Greece held by private creditors, banks and investment funds. They must accept a loss of 53.5% in the final on the face value of their Greek claims, is an increased effort from the original target was 50%. This should reduce the country's debt amounting to 107 billion euros, a record in world economic history. This exceeds by far the effect of debt restructuring of Argentina, which reached $ 82 billion (73 billion euros during the day) when she failed in January 2002. With this support plan, Greece should be able to cope with a maturity of 14.5 billion euros which falls on March 20 and thus avoid default. Provided however, that banks respond in sufficient numbers to call.  

Athens said he was "very satisfied" with the result. The Greek government had fulfilled its part of the paper the contract by complying with the requirements of its creditors. It adopted a new austerity plan at the cost of violent street protests and renewed political turbulence and will have to quickly firm up the first steps, in token of good will, to see the money reach him. A savings plan painful 3.3 billion euros this year was passed, providing for a reduction in the minimum wage and a limitation of pensions in particular.

Financial markets remain cautious

But if negotiations dragged on, is that the major funders of Greece have hit on a hole of several billion euros to bridge towards reducing Greece's debt to 120% of GDP by 2020. It is the goal set by the International Monetary Fund to consider that it is sustainable in the long term. In the end, the bailout will reduce the Greek debt to the tune of 120.5% by 2020. To achieve this, banks will not only make a greater effort. The government also will have to put a little more hands in their pockets, by reducing interest rates of loans already contracted to Greece and, for central banks in the euro area, by participating in the effort. Greece will in return be further strengthened supervision on the part of creditors, the European Commission in particular, to ensure it does not deviate from the targets.

The negotiations were also made difficult by the fact that many countries are skeptical, despite repeated promises, the ability of Greece to make the necessary reforms, especially as the forthcoming parliamentary elections are likely to reshuffle the cards. The country itself is undermined by the economic recession, with five consecutive years of decline in gross domestic product, and the population is increasingly difficult to accept successive budget cuts demanded by creditors.

Financial markets have reacted cautiously. The euro rose against the dollar and the Japanese yen on Tuesday. But European shares open in equilibrium. Many economists doubt that the new rescue plan is the final chapter of the Greek crisis, and therefore the debt crisis that has shaken the euro area for over two years. They regret that it is turned toward fiscal restraint and not to revive growth in a country that could, in the eyes of many, to "die healed." "The Greek plan remains fragile and vulnerable. Even with this agreement, Greece still has most of its problems ahead, not behind it," warns Sony Kapoor, Director of Studies Centre Re-Define. The head of the Bruegel Institute is even more pessimistic, believing that the plan does not doubt "that extend the deadline fatal". "Greece will not implement austerity promised and will end up ultimately having to decide to leave the euro or to be pushed to the exit," he considers.

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.

The euro area provides the finishing touches on a second aid plan for Greece so that the finance ministers can approve Monday, European officials said.

At 9:22, the CAC 40 index is 1.02% to 3,427.77 points, having pressed upon opening the pivot points of 3410.

The Euro Stoxx 50 gained 0.91%, the Frankfurt Stock Exchange 0.7% and 0.4% in London. 

The financial and cyclical stocks are leading gains in Europe, including a gain of more than 3% for SG. Lafarge gained nearly 4% after its results and the announcement of a 14% reduction of its debt.

Meanwhile, the cost of borrowing from Italy and Spain fall in the bond market, thereby enhancing

yield spreads with those of Germany.

Finance the war against Francois Hollande is it already over? Having dug up the hatchet in January at Le Bourget, the PS presidential candidate seems ready to smoke the peace pipe in the British press when he denied any "aggression" against the financial markets.

It's early in the week that François Hollande has raised the white flag. Before going to London, he in effect gave an interview to several British correspondents including the Telegraph, the Financial Times and the Guardian. To reassure all these people came to interview in Paris – and at the same time readers of the City-François Hollande has tried convincing: no it is not regarded in France as a very left financial regulation. And no, the France of 1981 has nothing to do with that of 2012, where "there are more communists," he said. Since the Guardian has restored the full quote by adding the flat "or very little." But the little phrase made noise in France where she has raised the ire of the Communist Party and part of the left. And drew attention to the soothing message of one who presented himself as the exterminating angel of finance.

To please these ears International, Francois Hollande has indeed put barrels of water in his wine. He did not hesitate to recall that during the fifteen where they were in power, the Socialists had liberalized the economy, open markets to finance and privatization. According to him, he and Obama would also have very close positions on the topic: "One could say that Obama and I have the same advisors."

Finance, enemy number one on the inside …

A speech that contrasts clearly with the speech of January 22 Bourget, in which he had made finance enemy number one, it had to be slaughtered at all costs. This financing "nameless, faceless, non-party" but "nevertheless governs us" and took control of our lives …

At the time all the political commentators asserted: Francois Hollande had managed a grand coming out on the left! The verbal attack angered the bankers, tired of being stigmatized. And they came with a program: creation of a tax on financial transactions, separation of deposit banks and investment banks, creating a special tax for financial institutions, or limiting bonuses. Ultimately, however, nothing really revolutionary. But the strong speech perfectly met the expectations of the electorate to the left.

… partner and to be struck out

So why this double standard? Francois Hollande is a campaign from the first round of presidential elections in which he must collect the left where it calls for more measures to support growth. This does not prevent him from being convinced that deficit reduction is essential. His lecture on the encryption program, far from lyrical flights of Bourget failing to have been accurate on spending cuts, was already a sign. But he also knows that the markets are still the law in fiscal policy. To put them back is to take the risk of skyrocketing interest rates on the French debt.

But some recent indicators have come to confirm it was time to make peace with investors. A report by economist Erik Nielsen of UniCredit noted in particular the fear of the markets to see the PS candidate cross the steps of the Elysee. Concerned, the prospect of renegotiating the EU Stability Pact to avoid the constitutional goal of balancing public finances. Hence the signals sent through appeasement of the international press. However not sure whether they were intended to be discussed in the hexagon. Which is not without problems.

Olivier Dartigolles for example, spokesman for the PCF, the "kneeling" before the City of Holland "are hard to the left". A view shared by Marie-George Buffet and Jean-Luc Melenchon, who both joked statements of the candidate face to British journalists. "You can not simultaneously be the candidate of the City and the candidate cities", summed up Wednesday Hervé Gattegno, editor of the Point.

Furthermore, this game is subtle to say the least on how to reduce deficits, could also turn against him. It is said the markets they are non-partisan. Maybe, but they are adamant on one point: the deficit reduction plans should be adjusted to the nearest euro!

In early trade, the Dow Jones gained 0.48% (61.76 points) to 12,862.99 points. The Standard & Poor's, which was accused last week its first weekly decline in six weeks, is 0.64% (8.65 points) to 1,351.29 points while the Nasdaq composite advance 0.81% (23.57 points) to 2,927.45.

"There was a little apprehensive but the fact is that (the Greek plan) was approved and it has clarified many things to contracts involving the risk that Greece represents for them, "Justice Peter Kenny, managing director of Knight Capital.

Side values, as Apple has climbed above $ 500 at the opening (1.65%), reaching a new record. 

The group has stepped up to the apple its offensive Monday against Samsung Electronics in the patent war between them, by attacking the Nexus range of smartphones equipped with the latest version of Android, the operating system from Google.

"This has been approved," said a minister attending the cabinet meeting.

The bill should be voted by parliament Sunday, which would make Greece a financial solution so that Athens must pay 14.5 billion euros in bonds maturing next month. The Mediterranean country will not honor these debts without further aid.

The European Union urges the Greek government to provide details of further cuts in public spending of $ 325 million.

It also requires a clear commitment of party leaders of the coalition government to implement reforms.

"We can not let Greece go bankrupt. Our priority is to take steps to adopt the new economic program and the new loan agreement. It goes without saying that those who disagree and do not vote for the new program can not remain in government ", said Prime Minister Lucas Papademos to the Cabinet ……. Friday

.., the Greeks began a 48-hour general strike to protest the new austerity measures demanded by international creditors and that Athens can not be the economy, according to Finance Minister Evangelos Venizelos, at least to leave the euro area

. Clashes

between demonstrators and security forces erupted in Constitution Square (Syntagma), before Parliament but the manifestations, followed by relatively few, have generally held ; are peaceful. 

The first police union, which accused the International Monetary Fund (IMF) and the European Commission to undermine democracy and national sovereignty, expressed his desire to no longer act against his "brothers". A local newspaper also publishes a photo montage showing German Chancellor Angela Merkel in a Nazi uniform.

SACRIFICES

The four government members from the LAOS, far-right party that belongs to the governing coalition, submitted their resignations in protest against the demands of international creditors, reports news agency ANA. George Karatzaferis, leader of the movement, had previously ruled to endorse the new austerity plan.

"I told the other political leaders that I could not vote for this loan agreement," he said at a news conference. "The Greeks can not be taken hostage and enslaved. We took our dignity. We were humiliated. I can not accept "

. The LAOS has 15 MPs out of 300 of the Greek Parliament, which means that his opposition to rescue plan would not prevent its adoption

. Secretary of State for Foreign Affairs, Marilisa Xenogiannakopoulou, member of Socialist Party (PASOK), has also resigned, but the movement has invited elected to support the plan

…… For … Venizelos, Greece can only accept the conditions of the new aid package of 130 billion to avoid bankruptcy accounts public for looming next month.

"The time has come for us to decide. Unfortunately, we must choose between sacrifice and even greater sacrifices, "he said in Brussels

. The device provides including a 22% decrease in the minimum wage, the elimination of 150,000 jobs in the public and reduced pensions for many

. Greeks, impoverished by five years of recession, in a country where unemployment is a worker in five, when the shops close one after the other, these new measures are unacceptable. 

Lucas Papademos had torn the agreement Thursday leaders of PASOK (left), New Democracy (right) and LAOS new measures demanded by donors, but their fire Green did not convince partners Athens and release the funds to conclude the Agreement on the Private sector involvement (PSI) in public debt.

Jean-Claude Juncker, Eurogroup president, warned that no aid would be disbursed without collateral submitted by the Greek political class. "In short, no release without implementation" of measures, he summarized.

Industrial production in France fell 1.4% in December over the month, reversing its rebound in November (1.1%), said Friday the National Institute of Statistics and Economic Studies (INSEE). In the manufacturing industry alone, which excludes mining and construction, production also fell 1.4% after rising in November (1.4%), INSEE said. Over the full year, manufacturing grew 3.8% on average.

In the fourth quarter of the year, output fell in manufacturing (-0.5%), as well as throughout the industry (-0.8%), INSEE said. She fell in electrical, electronic, computer and machinery (-1.1%) and in "other industrial products" (-0.9%).

Output also fell in the agricultural and food industries (-0.9%). In contrast, manufacturing output has been increasing in the transport equipment (+1.6%) and refining (+4.6%). On December alone, production fell in the agricultural and food industries (-1.2%), in electrical, electronic, computer and machinery (-3.2%) among others. She has been a slight increase in refining (+0.6%).

The latter won 0.04% or 5.75 points, to 12,883.95. The S & P-500, wider, took 2.91 points, or 0.22%, to 1349.96. The Nasdaq Composite Index advanced 11.78 points on his side of (0.41%) to 2,915.86.

Tuesday, the Dow finished at its highest level since May 2008, focused since late 2011 by the actions of central banks to support economic activity and by a series of macro-é U.S. ECONOMIC deemed favorable.

The three party leaders of the Greek government coalition are currently meeting to try to agree on the reforms demanded by donors in Athens in return for a second ; help me plan. 

The President of the Eurogroup, Jean-Claude Juncker, said Wednesday in a statement it had convened a meeting of finance ministers of the eurozone on Thursday in Brussels, meeting that should show up decide the outline of the new aid plan for Athens.

The leaders of the European Central Bank (ECB) remain divided on the potential contribution of the central bank to restructure Greek debt, two sources said on Wednesday the euro area.

"It will be a long and difficult process, as it has been from the beginning, but market participants want to see further," said Tim Ghriskey, Investment Officer at Solaris Asset Management , about the cautious optimism prevailing among market players. 

The Dow Jones jumped 21% since the beginning of October and again 80% of the ground lost during the down cycle covering the period 2007-early 2009. The benchmark index of Wall Street is now only 10% of its historic high reached in October 2007.

Energy stocks weighed on the coast after U.S. crude has erased its gains in the wake of the announcement of an increase in stocks of crude oil and gasoline States United, with the sector index yielding 0.55% and 0.64% ExxonMobil to 85.32 dollars.

The action Walt Disney rose 0.71% to 41.27 dollars after the media group has reported better than expected quarterly results.

The title Polo Ralph Lauren soared 9.18% to 171.49 dollars after better than expected quarterly figures of the clothing manufacturer, who also revised upwards its margin guidance. 

The action McDonald's has sold 0.85% to 100.05 dollars despite the announcement of a more-than-expected global sales of restaurants open at least a year better than expected in January.

The title Time Warner took 0.03% to 38.11 dollars after the media group released a better than expected quarterly profit, thanks to its re ; cable networks and franchises of the last episode of Harry Potter.

Of the 315 companies that, before the close of Wall Street, have published their quarterly figures, 61.0% reported better than expected results.

The media group has gone through a year 2011 marked heckled by two warnings on its results, a controversy over its leader Arnaud Lagardère and a fall of over 30% of his title scholarship. 

"In 2011, taking into account both an economic and market environment deteriorated, and other performances (recorded in the second half) and prospects for the industry Unlimited, should lead impairment in value of a significant amount, "the group said in a statement, referring to its division dedicated to sport and entertainment.

Lagardère adds that he also revised down the value in its accounts of its 20% stake in Canal + France.

The full year, revenue came out to 7.657 billion euros, against 7.966 billion during the previous year, an increase of 0.2% on a comparable basis. 

The Thomson Reuters consensus I / B / E / S brought out a turnover of 7.684 billion euros on the basis of estimates of 18 analysts.

The group, which will publish its full year results on March 8, confirmed its forecast of a decline of 5 to 12% of its recurring EBIT before associates (EBIT) for 2011 Media .

The stock closed Monday at 1.51% to 23.1450 euros. Since the beginning of the year, it was up 13.5%, compared with increases of 4.62% of the media sector index.