"European solidarity is not a one-way street," said the minister at the newspaper Bild am Sonntag. "We can not have one without the other. If one thinks that Greece is the case, they lie heavily and to voters. "

Asked whether an output of Greece in the euro area could be prevented, he replied: "Of course! Because that's exactly the goal we had in mind when we agreed on rescue efforts and programs of significant reforms that will enable the country not to have recourse to the priesthood ts in the financial markets for years. "

" Now to Greece to meet its obligations, " Wolfgang Schäuble added, saying the country had hoped that a stable government as quickly as possible

. "The current situation creates uncertainty . This is precisely what political leaders should not do, "he said

.

President of the European Central Bank (ECB) Mario Draghi agreed Wednesday that he hoped the massive loans made in recent months by the institution to European banks would benefit more quickly to the real economy.

The ECB has lent some EUR 1,000 billion over three years on terms very favorable to the banks of the euro area at two outstanding operations in December and February, hoping thereby stimulate lending and thereby the economy as a whole.

But in the economy right now "demand is therefore contained the credit application is contained," Draghi said at a hearing before MEPs. Lending operations have improved the financial position and allowed to "buy time", said Mr. Draghi, which is "not negligible", "but we can not compensate for the lack of demand," Has he added.

For the head of the ECB, the lack of credit is explained more by the crisis, which reduced demand for financing of households, by the cautious behavior of banks. The IMF, however, points to the prudence of financial institutions.

"The pressure on European banks remain high. They face the risk of public debt, weak economic growth, higher requirements when renewing their loans maturing and the need to strengthen their reserves to regain investor confidence, "say economists Fund

. The IMF also estimates that 58 major European banks may have to reduce their assets 2,600 billion by end 2013 to comply with the requirements of the European Banking Authority in terms of capital ratios. Such a perspective is not only bad for financial markets. It would also limit the ability of bank funding, particularly in countries where interest rates remain high, and decrease further loans to businesses, potentially creating a vicious cycle, explains Fabrice Cousté, CEO of CMC Markets France

.

In Paris at 10:01, the CAC 40 was down 0.31% (-9.51 points) to 3,283.00 points. In Frankfurt, the Dax is almost unchanged, while in London, the FTSE gained 0.19%. The pan-European index Stoxx 50 is down 0.59%.

"The markets are experiencing a phase of consolidation after a strong rebound since the beginning of the year and Spanish bond auctions go well Thursday, investors' appetite for risk resume more beautiful, "said Hirokazu Tuihama, a strategist at Daiwa Securities.

Values, the British retailer Tesco, which has announced plans to spend one billion pounds (1.2 billion) to overhaul its operations in Britain to regain market share and reconnect with sales growth, gaining more than 1.6%. 

Accor (1.64%) stands out from other CAC 40 stocks Wednesday morning after the hotel group released a sales growth of 4.5% to 1.371 billion euros in the first quarter, slightly above market expectations (1.358 billion).

The world number two home appliances Electrolux sells more than 3% in early trade after the announcement of a decline of 16.7% of its supplies to the market North America's six major product categories.

ASML is the title back in the same proportions as the world leader in machinery engravings of semiconductors declined to disclose its prospects of orders on the occasion of the publication of its quarterly results . 

In the euro area, investors will monitor the issue of 5 billion euros of debt in two years in Germany before the auctions of two and ten years in Spain and BTAN and a new line on inflation indexed by France on Thursday.

The Swedish Central Bank held rates unchanged while preventing an increase in inflationary pressures would lead to the rise, but not until next year. Other monetary policy decisions are expected during the day in Turkey and Brazil after the publication by the International Monetary Fund of its global economic forecast in which the international organization has raised its forecast for growth while warning against the fragility of the global economic recovery and highlighting the continuing challenges of the euro area.

In China, the fall in house prices continued in March and could lead the authorities to alleviate the measures taken two years ago to reduce speculation in this market , while the slowdown in the Chinese economy continues to be a concern in the markets.

These funds are meant to give the IMF the means to combat the crisis of sovereign debt in the euro area.

The G20 finance ministers meet in Washington next week and will increase the Fund's resources will be central to their discussions.

"I would say it will be somewhere between 400 and 500 billion and that much will depend on commitments of the major world economies and European economies outside the euro area," said an official of the G20. 

Executive Director of the IMF, Christine Lagarde, said Thursday that an agreement could take time, suggesting that the meeting next week may not result in an agreement dice finitif.

She also said it was possible that the IMF has required fewer resources than he thought a few months ago, the economic and financial risks are being mitigated, as well as its financing needs.

The long-term operations (LTRO) of the European Central Bank refinancing two to three years made in December and late February, by watering thoroughly with liquidity sys my bank, have also helped reduce the need of the Fund, in the opinion of officials. 

The IMF estimated in January that it would take $ 500 billion more for loans and an extension 100 billion in reserves for protection of risks arising from the debt crisis of the euro area .

"UNREALISTIC"

"It was always clear that this envelope 500 to $ 600 billion (…) was too unrealistic," said another official of the G20. "We will be happy if we get other countries as much as what the Europeans are willing to contribute."

Countries in the euro area have committed to provide 150 billion euros and other countries of the European Union 50 billion.

The first official said that China and Japan could together provide $ 100 billion, or slightly more. "It seems that Japan and China are relatively happy with what Europe has done," said a third official.

"But among developing economies, we still feel that the rich countries like Germany should play a greater role in solving the problems of the region, it may be that there is no agreement until the last moment, "added the third charge.

For now, the U.S. and Canada are the only countries that do not contribute to an increase of IMF resources.

Asked if the Commission felt that Madrid was always able to avoid stressing the currency bloc to preserve its banking sector, Olivier Bailly simply replied "yes".

He also said the Commission would be able to have an overview of the efforts of Spain to consolidate its finances once the Spanish Government has delivered a comprehensive overview of its plans, including regional governments. 

Lack of information, particularly on the provisions which reach implement local Spanish, "the Commission is not able to make any recommendation at Madrid" he added.

In Paris, in mid-session, the CAC 40 was down 0.8% at 3443.28 points. The Dax 30 yields 0.58% and the FTSE 0.47%. The index futures point to a New York opening on Wall Street rather indecisive.

PSA Peugeot-Citroen gained 0.9%. The French manufacturer announced it was studying with General Motors on the feasibility of development of common platforms for large segments of small sedans and minivans.

BT wins more than 5%. The British telecoms operator plans to pay two billion pounds into its pension fund as part of a new nine-year plan more advantageous for shareholders.

The French government raised its economic growth forecast for 2012 to 0.7%, against 0.5% previously, and was lowered to 1.75% for 2013, against 2.0%, said Minister of Economy Baroin. This announcement follows the revision by the National Institute of Statistics and Economic Studies (INSEE), its growth forecast to 0% in the first quarter and 0.2% in the second quarter of 2012.

Moreover, the overall business climate in France has improved significantly in March, to 95 points, an increase of 4 points, according to INSEE.

In the U.S., the indicator of new home sales will allow investors to refine their expectations of recovery in the industry and the economy in general.

Qatar Holding, one arm of sovereign investment fund Qatar Investment Authority (QIA), said holding 12.83% stake in Lagardere and have surpassed the 10% voting rights, to 10.05%.

Qatar Holding says it reserves the right to further increase its stake in the company but said not wanting to take control. 

However, it indicates that it intends to seek appointment to the supervisory board of Lagardère and "talk with any interested actors, as appropriate, to strategic partnerships to the credit ation of long-term value for shareholders, with the stipulation that there is currently no specific plans in this regard ".

Qatar says it is not targeting any merger or reorganization, liquidation or transfer, modification of activity or status of Lagardère. He also says not to consider proposed cancellation or issuance of securities of Lagardère.

Nobody was immediately available for comment at Lagardère announced.

The Qatari fund became the largest shareholder Lagardère in December with 10.07% of the capital, before the family Lagardère (Lagardère Capital & Management), which holds 9.6% .

The market hardly reacted to this information, the Lagardère shares remaining unchanged at 23.56 euros at noon in a market down by 0.75%.

Lagardère has suffered a heavy loss in 2011 (707 million), due to massive write-downs on past sports. (See)

This diversification strategy considered by Arnaud Lagardère, General Partner of the group, ended last year with an operating loss of six million euros, after performance trading below expectations, loss of contract disputes and more.

The fight continues. Metalworkers block since 6:30 this Tuesday access to administrative buildings of the plant ArcelorMittal Florange (Moselle). Thirty workers wearing jumpers of the CFDT, CGT and FO have taken a position before the checkpoint leading to the "big offices" staffed usually several hundred frames.

In the pale light of dawn, the steelworkers have improvised at the gates with a pile of straw bales and wooden pallets. Some managers and administrators have been forced to turn back by the workers protest, fearing an imminent closure of the steelworks. Most of the inside workers hired to 8:00.

"This is once again disrupt production at the site" which is partly controlled from the "big office," said a trade unionist. The blocking is expected to continue throughout the day, he said. This is the second blocking access to the administrative buildings of the factory in less than two weeks.

February 28, fifty steelworkers were blocked for a dozen hours access to "big offices". This blockage was "unacceptable" by the management group's Atlantic-Lorraine. "ArcelorMittal strongly condemns the blocking (…) by a small group of trade unionists (who) and prohibit access to their workplace to the other employees of the company," had found direction in a statement.

Monday, the workers decided to continue meeting in their movement. The Inter announced it would conduct new blockages Tuesday, she would visit all workshops and site Wednesday that it "would rise" in Paris Thursday. A "great national day" demonstration will also be held March 22 in Florange by the CGT on the theme "The industry and the steel industry in France," said the union plans to bring in Lorraine "thousands of French and Belgian steelworkers. "

March 8, direction, accompanied by thirty guards, had taken possession of "large office", February 20 invested by metallurgists to cries of "Mittal, we want to work". Movement by engaging in late February, a CFDT Inter-CGT-FO (GSC / CFE has withdrawn since) had promised to make Florange "the nightmare of government" if the two blast furnaces of the steelworks, dormant for several months, were not given a prompt start. ArcelorMittal ensures it is only a standby temporary, made necessary by an insufficient global demand for steel.

The two main Spanish unions, UGT and CCOO, announced Friday a general strike on March 29 to protest "against the labor reform and defense of public services", to be held on the eve of the budget in 2012 marked by the austerity.

The unions denounce "unilateral decision" Conservative government "to implement a labor reform and a new drive and fiscal effort," said CCOO in a statement.

By coincidence, this strike will take place at the 100th day of the power of conservative Mariano Rajoy, who took office Dec. 21. His government adopted on February 11 a new reform to make it more flexible labor market, including lower redundancy payments and measures to stimulate youth employment.

The aim is to boost job creation in a country at record levels of unemployment among industrialized countries (22.85%) and particularly dramatic among children under 25 years (48.6%), but the unions believe that the measure will mainly facilitate dismissals. "This reform will not generate employment, it will destroy even more," said CCOO, and "the government itself acknowledges that this year we lost 650,000 jobs."

The government announced last week expect a further rise in unemployment in 2012, which should hit 24.3% of the workforce. But he remains focused on rigor and plans to adopt March 30 a draft austerity budget, as promised to bring the public deficit of 8.51% of GDP at end 2011 to 5.8% in late 2012.

In approving the strike on Friday, the union also announced its "determination to maintain pressure and social workers after that date would alter the reform if the government does not rectify and is not willing to negotiate."

General strikes are rare in Spain, where only five have been convened since the return of freedom of association in 1977. The last was held September 29, 2010 to protest against a previous labor market reform introduced by the Socialist government of Jose Luis Rodriguez Zapatero. She had had mixed success, but since many events are held regularly, especially in regions that manage sensitive budgets of health and education and have adopted strict austerity.

Against the new labor reform, hundreds of thousands of demonstrators, waving red flags, had marched on February 19 in the cities of Spain. A new day of action is planned this Sunday, with events announced throughout the country. elc-ka/sg/lo

Rising rents would be over? The question is legitimate. Because after an increase slowed in all of 2011 (1.6%), against 2.5% in 2010 – the rents are down 0.1% on the first two months of the year . To figures released Tuesday by the observatory Clamor, which includes donors, agency networks and professional organizations. Here's to remember the private rental market "anxious and depressed" according to the observatory.

The activity of the rental market back

After having recovered in 2011, residential mobility, ie the proportion of housing tenants changing folds in the year beginning 2012. Consequently, the number of rental accommodation decreased by 5.1%. In practical terms, this represents less than 80,000 units over the period from 2010 to 2011. Chief among the regions where mobility is the highest: Brittany, Franche Comté, the Loire and Limousin, where it is around 10%. Conversely, the mobility is around 5% in the Ile-de-France, Picardy, Poitou-Charentes and Languedoc Roussillon. In contrast, residential mobility was down by just 2% in Champagne-Ardennes and Rhone-Alpes.

Rents are moving down

Tenants no longer dared to hope: rent prices are falling. The figure is symbolic for the time since the erosion is only 0.1% and only affects the first two months of the year. But gone are the days where residents had not experienced a decrease in rents. Between 1998 and 2012, average rents increased by 2.9% per year. In 2011, the increase was more reasonable 1.6%.

So why do they fall early this year? Due to a request "hesitant" household. As proof, the period of vacancy-time to find another tenant-lengthens. Another factor is the deterioration of the labor market, worry and purchasing power at half-mast. But lower rents differs depending on the city, but also the surface of the well. Over the full year, the rents would "stagnate or show a small increase," predicted Clamor.

The average price falls to € 12.4 m2

In 2011, the average rent accounted for 12.5 euros per square meter. It is the euro to 12.4 m2 in 2012, but it varies widely from city to city. Among cities of more than 60,000 people polled by Clamor early 2012, the Ile de France remains the most expensive, with 18.1 euro per square meter. The prize for the highest rent is attributed to Neuilly-sur-Seine, where it takes 23 euros per square meter …. Conversely, it is 8 euros in Saint-Etienne in the Loire.

Baisssière trend affecting more and more cities …

Since the beginning of the year, it concerns 46% of cities against 30% in 2011. The decline in rental prices is around 2.5% for half of them. This is the case for Nice with a decrease of 1.1%, -2.6% for Bordeaux, and a 3% decrease in Caen and Cannes. Conversely, the rent increased to 54% of cities such as Nantes, Metz, Narbonne, or Tours. The largest increase is attributed to Niort in the Deux-Sevres with 9%. And the largest decrease was recorded in Upper Normandy. It is in this region where the rent has recorded the largest decline between early 2012 and early 2011 (-5.2%)

… but it covers only small areas

The decrease relates only to small areas. It is 1.5% less for a studio and a room. In total, the cost for a T1 evaluates to 444 euros. However, the price of three, four and five parts increases. For a five-piece, rents increased by 3.8% or 1086 euros on average in February.

The rent for relocation accelerates

It is well known, homeowners enjoy the change of tenant for rent augementer. And it continues unabated in 2012, on the contrary; While the rent increase was 1.9% in 2011, it began rising again in 2012 to $ 3.8%. Besides the increase in change of tenant, Clamor considers property rented with work increased 9.1% in 2011, 1.5% current work no work down 7.1%