The French surveyed by INSEE in November have also never been more pessimistic about their future standard of living and are more likely to anticipate an increase in unemployment, which has already reached a peak of 11.

The composite indicator of consumer confidence stood at 79 on Friday in November and pushed a lowest since February 2009.

The EU executive believes that these two sets of measures would allow the euro area to overcome the current crisis by advancing to an organization in which greater solidarity would be offset by increased liability of the members.

Depending on the device, the EU executive could amend not only the first draft national budget, submitted in April, but the budget bills during the second half of the year.

The Commission may make recommendations or even claim that a new budget is established, if necessary up to defend his opinion directly to national parliaments after discussion between the finance ministers of the euro area.

But the parliaments retain the final say on the budget, but the EU executive would in turn can open without waiting for an excessive deficit procedure if it considers that the country moves away from the budget path which is recommended.

In extreme cases when the country refused repeatedly to comply with EU recommendations, it could be placed "under administration" Community Trust in the clear in Brussels.

Françoise Bettencourt-Meyers has requested in writing to become the beneficiary of some life insurance from his mother – to the tune of 93 million – "because of an agreement" with her past, said Sunday AFP to the former agent of the billionaire, Pascal Wilhelm.

Floods in Thailand will also affect exports significantly in the last quarter, disrupting supply chains across Asia, warned the BoJ in its report of November.

"Exports and production should show more or less stable at the moment and then increase moderately, reflecting mainly an acceleration of the recovery of overseas economies," said the central bank, warning however that the economic outlook remained uncertainty.

Groups and UMP New Centre (NC) voted this draft budget called "obsolete" by the leftist opposition, who voted against.

This draft budget, the last of the five-year and the Legislature, is built on a projected growth rate of 1.75 for 2012 but the government has revised this rate downward by reducing it to 1%.

In the second part of the expenditure, the budget contains several provisions of the savings plan submitted on November 7 as the removal in late 2012 of the device "Scellier", a tax benefit for investors in new homes for rental .

Another measure of austerity November 7: the refocusing of the interest-free loan that will be reserved for new homes and means-tested.

Or a shot of "plane" of 15% and not more than 10 of the tax loopholes.

Wolfgang Schäuble told the German weekly Focus that Italy would be able to overcome its difficulties, resulting from a crisis of confidence in the markets.

"The economic data are not real bad. You just deal with the problems (…) These can be solved by Italy herself.What Rome has to overcome is nothing compared to the mountain to be climbed Greece, "he argues.

Although Europe has a Stability and Growth supposed to intervene much earlier, it is necessary that members act more in the EU, said Schäuble.

"The pressure of the crisis has effects that would not be possible otherwise (…) greater the crisis, the greater the need for change, he says.

At 311.7 million euros, sales of the group recorded organic growth of 8.8%, Orpea said in a statement.

"The dynamics related to both France and abroad, including the continued rise of Belgium and Italy," said Yves Le Masne, CEO of Orpea, quoted in this release.

It says that the group confirmed "with serenity, its goal of a turnover of 1,230 million euros (27.5%) accompanied by sustained profitability" for the full year 2011 .

Net income for the Swiss reinsurer has more than doubled in the third quarter to $ 1.35 billion (988 million) against 618 million in the comparable period in the previous year.

Swiss Re said the performance by "a moderate level of natural and unique effects positive."

Premium income rose to 5.74 billion against 5.05 billion a year earlier.

The combined ratio, a key indicator of operating profitability in the sector, however, has deteriorated to 80.8% against 76.4% last year.The combined ratio was expected at 89.7%.

The world's second largest reinsurance confirmed its medium-term objectives, for an ROE of 700 basis points above the average over five years and an average annual growth of 10% of earnings per share.

"Our financial targets in 2011-2015 reported in February 2011 is our top priority and we are fully dedicated," said CEO Stefan Lippe in a statement.

The group also expects a modest turnaround in the market but general damages, liability and accidents.

He added that any revision of the plan provided for Greece in the Europe Agreement of July 21 will continue to provide that the private sector participation is voluntary and avoid a credit event.

The President of the Commission, speaking on the sidelines of the LCI meeting of G20 Finance in Paris, said the European countries with fiscal room should be used to support growth.

"A decision must be applied immediately, a decision on the strengthening of the European stability, a decision on a greater guarantee for our banks," he said.

"States that have room for maneuver should support demand," he added.

José Manuel Barroso declined to quantify the need to recapitalize European banks, on which European leaders emphasize their pressure to enable them to withstand greater losses than expected on the sovereign debt of the most fragile countries in the euro area.

The European crisis is on everyone's mind at the meeting of G20 finance which opened Friday in Paris to complete proposals on reducing global imbalances in the context of the Cannes summit of November 3 and 4.

The BoE's decision on Thursday to bring its program of asset purchases to 275 billion pounds underlines the fragility of the British economy, against a backdrop of fiscal restraint and spending power of consumers due to half-mast 'high inflation and weak wage growth.

The Governor of the BoE Mervyn King, in a letter to finance minister George Osborne, says that the global economic recovery has slowed and the debt crisis in the euro area has caused severe strains in financial markets.

"These tensions within the global economy threaten the British recovery," warns Mervyn King.

If the price increase is expected over 5% annual rate in the coming months, the recent deterioration in economic outlook bodes well for a return in the medium-term objective of the BoE, which is 2% in annual basis.

The Bank of England held rates unchanged at record low of 0.5%.This rate has not changed since March 2009.

The bold decision of the BoE to launch a new phase of quantitative easing contrasts with the more conservative ads of the European Central Bank.

The ECB also held its key rates unchanged Thursday while taking further steps to promote the supply of interbank liquidity and to intervene to the tune of 40 billion euros for the primary and secondary markets for bonds in the euro area .

OUTLOOK further deteriorated

Economists polled by Reuters had given a probability of 40% to restart its program of asset purchases by the BoE expected but mostly that it covers only 50 billion of extra pounds.

The sterling fell to 1.5280 dollars after the announcement, the lowest since July 2010, against 1.5466 before.

"The fact that the Monetary Policy Committee has decided to act now on the quantitative easing and he did it for 75 billion pounds rather than 50 points out that these members consider that the already difficult prospects of the economy further deteriorated due to headwinds both domestically and internationally, "said Howard Archer, economist at Global Insight.

"We believe that quantitative easing will be emphasized in the first quarter of 2012," he added.

The UK economy is virtually at standstill for a year while the government is facing a budget deficit that reached almost 10% of GDP.

The BoE had frozen to 200 billion pounds the amount of its asset purchases since February 2010 in favor of an economic recovery after a deep recession.

Restrictive means adopted by the BoE in view of inflationary pressures has markedly changed over the summer with the fear of a relapse into recession and difficulties for banks caused by the sharp correction in financial markets crisis the euro area and the signs of a global slowdown.

"We would not be surprised to see the total amount of asset purchases to 500 billion pounds, the new stage of quantitative easing, starting with the 75 billion announced today, adding an additional 300 billion in the first phase," said James Knightley, ING Financial Markets.