Venez à Londres, mes amis

Francois Hollande shows true colours with threat to nationalise ArcelorMittal - Telegraph: " . . . The International Monetary Fund warned earlier this month that rising taxes are undermining the country as a place “ to work and invest”, and said France risks being left behind as Italy and Spain grasp the nettle of reform. The French state’s share of GDP has risen to 56pc, creeping higher than Sweden and Denmark, without their labour flexibility. French industry has been losing 60,000 jobs a year for the past decade. The current account has swung from a surplus of 2.5pc of GDP to a deficit of 2.4pc since the launch of the euro. The country has lost 20pc labour cost competitiveness against Germany. It has a 50pc “tax wedge” – the tax share of labour costs – among the highest in the world. What France needs as unemployment rises by over 40,000 a month to modern era highs and the economy slides deeper into perma-slump is a radical assault on the state. Instead, Mr Hollande talks of nationalisation. Is London big enough to take the refugees?"


European debt crisis a bigger global threat than US fiscal cliff, says OECD
The Guardian
Europe's debt crisis remains a far bigger threat to the world's economy than the "fiscal cliff", according to the Organisation for Economic Co-operation and Development (OECD). In its latest twice ... "We don't think the euro-zone crisis is over yet ...

The Guardian

OIL FUTURES: Crude Flat as Euro-Zone Optimism Fades
Fox Business
However, the positive sentiment faded as some traders and analysts became weary of what they saw as an another temporary fix that didn't move the euro zone toward a substantial solution. Theeuro-zone debt crisis has "been so long and drawn out," said ...

OECD slashes global growth forecasts over euro zone risk
Reuters
... as inappropriate. Loading... Alert icon. Sign in or sign up now! Alert icon. Loading... Published on Nov 27, 2012 by ReutersVideo. The economic organisation warns the debt crisis in the recession-hiteuro zone poses the greatest threat to the world ...

Euro zone, IMF agree on Greece debt deal
MarketWatch
SYDNEY (MarketWatch) — Greece's institutional lenders reached a deal early Tuesday in Brussels that is expected to pave the way for the country to receive almost 44 billion euros of financial aid, while bringing its debt down to a sustainable level ...

MarketWatch

OECD Slices World Economic Forecast
Fox Business
OECD Slices World Economic Forecast. Published November 27, 2012. Reuters. The OECD slashed its global growth forecasts on Tuesday, warning that the debt crisis in the recession-hiteuro zone is the greatest threat to the world economy. In light of the ...

Euro zone debt forgiveness lies ahead in Greek mire
Reuters India
But while a degree of can-kicking may be going on, there was a critical element in Monday night's deal that goes a lot further than any other step taken so far in the debt crisis to get Greece back on its feet. Implicit was an ... The EU official said ...

UPDATE 8-Euro zone, IMF secure deal on cutting Greek debt
Reuters
Deal to include Greek debt buy-back, ECB profits returned. * Euro ... Greece, where the euro zone's debt crisis erupted in late 2009, is the currency area's most heavily indebted country, despite a big "haircut" this year on privately-held bonds. Its ...

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