_Economy and Finance

Eco Analysis - France: No sign of sentiment up according to INSEE (M. martinez) The most observed component of the INSEE survey, the business climate index in the industrial sector fell from 89 to 86. As it improves slightly in the service sector, the business climate index for the whole economy was stable at 87. This is a low level (1.3 standard deviations below average) which points at best to stalled activity in the near term. We have the long held view that INSEE surveys help generally improve accurate forecasts of GDP growth in the near term (our econometric model has a solid R²=0.93). The main reason is that the INSEE surveys are completed on a broad basis (4,000 of companies). The January surveys' results do not change our forecast at -0.1%qoq in Q4 12 and Q1 13, but we believe risks are tilted to the downside. Bottom line: the government 2013 GDP growth forecast of 0.8% looks increasingly unlikely after such a weak start to 2013 (SG forecast for 2013 is zero growth). Henc...

France draws fire after "alarm bells" warning By Daniel Flynn and James Mackenzie PARIS/ROME | Tue Nov 15, 2011 6:52pm EST (Reuters) - France came under heavy fire on global markets Tuesday, reflecting fears that the euro zone's second biggest economy is being sucked into a spiraling debt crisis.

German, French GDP Grew in Q3 on Spending By Jana Randow and Mark Deen - 2011.11.15 01:15 AM German and French economic growth rebounded in the third quarter on stronger consumer spending, even as the region braces for a recession sparked by an escalating sovereign debt crisis.

French credit review threatens euro zone rescues By Paul Taylor and Nicholas Vinocur PARIS | Tue Oct 18, 2011 4:38am EDT (Reuters) - Moody's decision to review France's triple-A credit rating cast new doubt on Tuesday on Europe's hopes of drawing a line under its sovereign debt crisis, five days before a crucial EU summit.

Related News: Finance , Europe , France , Executive , Markets Magazine Societe Generale Undermined by Greek Debt Crisis in Recovery from Kerviel By Richard Tomlinson and Fabio Benedetti-Valentini - Jul 26, 2011 6:15 AM GMT+0900 Bloomberg Markets Magazine In a locked room on the 33rd floor of Societe Generale (GLE) SA’s 36-story headquarters in western Paris, members of the bank’s fraud control team peer at their computers, scrutinizing the trades being executed by dealers in eight trading rooms on the floors below.

French Banks Face Greatest Italian Risk Q By Fabio Benedetti-Valentini - Jul 13, 2011 7:01 AM GMT+0900 French banks, including BNP Paribas SA and Credit Agricole SA (ACA), have the most at risk from the euro- region’s debt crisis infecting Europe’s largest borrower: Italy.

Reuters : France, banks agree Greek debt proposa:source PARIS | Sun Jun 26, 2011 5:34pm EDT ( Reuters ) - The French government and banks have agreed on a proposal to make a Greek debt rollover more palatable to creditors, a banking source said on Sunday, confirming a report in Le Figaro newspaper.

Related News: Bloomberg , UK , Ireland , Bonds , Economy , Finance , Europe , France , Eastern Europe , Germany Bloomberg : Greek Default Would Spell ‘Havoc’ for European Banks a Year After Bailout By Aaron Kirchfeld and Elena Logutenkova - Jun 20, 2011 12:31 PM GMT+0900 A year after European officials bailed out Greece, investors say the region’s banks haven’t raised sufficient capital or cut loans enough to withstand the contagion that may follow a default.

Related News: Economy, Europe, France, Germany, U.K. & Ireland, Bonds, Eastern Europe, Italy, Currencies Europe May Withhold Half of Greek Payment By James G. Neuger and Jonathan Stearns - Jun 20, 2011 8:16 AM GMT+0900 European governments weighed withholding half of Greece’s next 12 billion-euro ($17.2 billion) aid payment, seeking to keep the country solvent while maintaining pressure on the government to slash the debt that pitched the euro area into crisis.

Related News: Economy , Eastern Europe , France , Germany , Italy Default by Greece ‘Almost Certain’: Greenspan By Vivien Lou Chen - Jun 17, 2011 8:46 AM GMT+0900 Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.

Related News: Germany · Bonds · Currencies · Economy · Eastern Europe · Europe · France · U.K. & Ireland · Italy · Hedge Fund Summit Greek Default Would Not Destabilize the Euro, Bundesbank’s Weidmann Says By Richard Weiss - Jun 12, 2011 9:46 PM GMT+0900 Bundesbank President Jens Weidmann raised the pressure on governments to agree to a Greek bailout without the European Central Bank taking part in easing the country’s debt burden, saying the euro can withstand a default.

Related News: Economy · Asia · Europe · Japan · U.K. & Ireland · U.S. · Currencies · Funds · Insurance · Middle East · France · Canada Risk Rally Ending for Currencies Turns Focus to New Least Ugly-Alternative By Catarina Saraiva and Allison Bennett - May 23, 2011 1:08 PM GMT+0900 The best-performing currencies of 2011 are falling out of favor as the Federal Reserve plans its exit from record monetary stimulus just as the global economy shows signs of slowing, buffeting commodities and stocks.

10 places where housing is soaring France Annual increase: 9.5% Paris has long been known for stylish people, delicious cuisine and universal health care. And let's not forget some of the priciest real estate in the world.

Related News: Europe · Germany · Finance · U.K. & Ireland · Currencies · Bonds · France · Economy · Italy European Stress Tests to Examine Banks’ Readiness for Basel III By Ben Moshinsky - Apr 8, 2011 8:01 AM GMT+0900 European regulators were criticized by German banks for a plan to incorporate into this year’s stress tests global capital standards that aren’t scheduled to be implemented for eight years.

Related News: Economy · Finance · Law · Eastern Europe · Europe · France · India & Pakistan · Latin America · U.K. & Ireland · U.S. · Opinion · Funds · Municipal Bonds · Matthew Lynn Portuguese Bailout Costs More Than Money Alone: Matthew Lynn By Matthew Lynn - Mar 29, 2011 8:00 AM GMT+0900 Bloomberg Opinion Is it 50 billion euros? Or perhaps 70 billion euros? The cost of bailing out Portugal varies according to who makes the calculation. No one will know the real price until officials from the International Monetary Fund and the European Central Bank tell us.

Related News: Europe · France · Germany · Italy · U.K. & Ireland European Bank Funding Threatened as Basel III Meets Solvency II By Kevin Crowley - Mar 29, 2011 8:01 AM GMT+0900 European banks are being forced to sell more long-term bonds as regulators seek to prevent another financial crisis. European insurers say their own regulator will stop them from buying such debt.