This is a slight reversal done discreetly. An amendment to Article 1 of the bill on the changed status of the Post provides an entry into force of the text on 1 March 2010 instead of January 1. This is the UMP deputy for Haute-Loire Jean Proriol who took the initiative. Main reason: the discussions in Parliament have taken too late. The amendment states that "due to the postponement of consideration of the bill from the original schedule and the high likelihood of referral to the Constitutional Council, the promulgation of the law before 1 January 2010 is now unrealistic.
The postponement of two months per se has no consequences for the Post. However, the very symbol of the government which wanted to launch the change of status one year to the day before the liberalization of market positions across Europe.
This change must be approved by members during consideration of the bill on Tuesday to the National Assembly. If heated discussions ahead in the chamber, the tension should be even more palpable outside. Already in the afternoon, several demonstrators, including the NPA leader Olivier Besancenot, tried to climb the gate of the Palais Bourbon, equipped with smoke and banner bearing the likeness of Sud-PTT union.
An examination of the text in the Parliament should continue until Thursday before a formal vote January 12.
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The commodities market is particularly volatile in this weekend. The request by Dubai World, the principal holding company of the emirate, delaying the maturity of its debt worth 59 billion dollars fueling fears of a collapse of the emirate.
Oil prices fall on Friday in the opening exchanges in New York, the price dropping 4.81 dollars to 73.15 dollars, traders worried about the consequences of financial difficulties of the emirate of Dubai on economic recovery .
The announcement by Dubai has cast a pall over the entire finance, equity markets falling heavily Thursday (-3.36% on the European index EuroStoxx50) on all seats worldwide (-3.22 for the Nikkei Friday).Meanwhile, the dollar went back over 1% against the euro to 1.4867 as investors signaling a sudden aversion to risk.
The weaker dollar boosted oil prices and vice versa
It turns out that the dollar and oil, which is priced in U.S. currency, maintain an inverse correlation. A rising dollar is falling and oil prices and other commodities, which is currently the case.
The soaring price of black gold in recent weeks was also based on a general positive sentiment shared by investors in financial markets.Fears emerged with the financial problems of Dubai logically entail a sudden loss of attractiveness of oil.
"Crude oil is still grappling with fundamental bearish, despite the weekly statistics on stocks issued in the United States," said Darin Newsom, an analyst at DTN Telvent on Market Watch. Data released Wednesday showed an expected increase in oil inventories higher than expected.
The ounce of gold was also affected by the downturn in the commodities market, falling 3% to 1157.40 dollars to 10.30.
Nicolas Sarkozy wants a debate on deficits. This is his announcement during an exchange with hundreds of mayors at the Elysee on the issue of local government reforms. The president had previously tried clearing the ground, apologizing for not being able to go to their convention, ensuring that it was not to avoid their anger on local government reform.
The President has subsequently commented extensively on the subject, pointing specifically drift accounts in the regions: "When I see (…) the fiscal madness that seized a number of areas, I say be careful anyway, because it is the competitiveness of France (who is involved). One criticism is that the Left, which controls nearly all the French regions.But the majority, which has recovered areas in March next will be riding the theme of taxation in the region, pointing in particular the inflation of budgets and taxes found in these communities.
A conference deficits without date
He therefore used his speech to announce a national conference "to discuss the shortfall in France" which meet the state on one hand and those responsible for social security and local authorities on the other .The date of the event remains at present unknown.
"We plan with Prime Minister (Francois Fillon) to organize a national conference to discuss the deficit of France, Nicolas Sarkozy said.
"It will have the responsibility for social security, those local and those of state talk together (…) me, I promised that I would not replace an official two who is retiring but If you local, you create one over two, how one can escape, the same country, "he said.
"Sarkozy remains inflexible on the territorial reform
Four giants of the world's foremost advertising to Publicis, Interpublic Group, WPP and Omnicom and the association representing the United States Monday called on U.S. authorities to validate the faster the alliance announced in July by Yahoo! and Microsoft at the "research" on the internet.
"We believe that the proposed Yahoo! and Microsoft to combine their technologies and platforms for research is good for advertisers, marketing agencies, publishers of websites and consumers "can read this open letter to the Department of Justice U.S..
Without explicitly mention the giant Google, which now monopolizes the field of "research" on the internet, officials of the four giants of the advertising world, by supporting the merging Yahoo!, Microsoft is still positioned for a greater heterogeneity of the competition on the Internet.
The alliance between Yahoo! and Microsoft has been concluded with the avowed aim of providing better counterweight to industry leader Google, which in September monopolized 64.9% of the U.S. market, against 18.8% for Yahoo! and 9.4% for Bing (the search engine from Microsoft). A more equal distribution of market shares and directly reduce the influence of Google on the advertising rates charged and would thus benefit to advertisers.
Nothing worked. Neither the words of Jean-Claude Juncker, President of the Eurogroup, nor even those of Ben Bernanke, the Fed chief. The dollar is falling and the euro rises. This was decided by the market, more than ever sovereign foreign exchange. While the major fundraisers of the euro zone met yesterday in Luxembourg, the European currency traded against 1.49 dollars, up from Friday night. The comments of Jean-Claude Juncker at the weekend, suggesting that the ECB might intervene to support the dollar, have not impressed the markets busy to take risks amid low interest rates in the United States. The speech of Ben Bernanke on Monday called for reducing U.S. deficits, nor has helped strengthen the greenback.
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