The Secretary of State for Foreign Trade, Pierre Lellouche, announced a trade deficit of 69.6 billion euros in 2011, more than the previous 2008 record of 56.2 billion, in an interview published on the website of Figaro Tuesday. "With a trade deficit reached 69.6 billion euros in 2011 (after 51.4 billion in 2010) the results are less bad than expected," said the minister who had, in mid-January, revised down the estimated 5 billion annual deficit, previously estimated at 75 billion.

"In 2011, our imports have increased 11% to 498 billion. At the same time, more than 117 000 firms sold their products abroad, a figure unchanged from 2010, "said Secretary of State." Our exports increased by 8.6%, to 429 billion euro – which will create 90,000 jobs this year "has he congratulated

. Surplus for the food processing and aerospace

" We can be satisfied with the functioning of certain sectors: agribusiness is experiencing a historic surplus of 11.4 billion. The aircraft also implies a surplus of 17.7 billion through the sale of Airbus 534 "also said Pierre Lellouche

. It is observed that exports French grew less in 2011 than Germany, but also that exports from Italy, Spain, UK and U.S.. The global market share captured by France and has deteriorated significantly since 1990 from 6.2% 3.6%

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The Dow Jones gained 291.23 points (2.59%) to 11,523.01. The S & P 500 is 33.90 points (2.93%) to 1192.57. The Nasdaq Composite rose 85.83 points (3.52%) to 2527.34.

This data is likely to vary even slightly.

The specialist geophysical services and equipment for the oil industry recorded a utilization rate of the fleet marine marked improvement, while Sercel, its subsidiary specialized in the production of geophysical equipment, has reported a significant increase sales of land equipment.

"Our results have improved significantly this quarter. They are excellent for Sercel.

The government will hold meetings arbitration throughout the weekend before the announcement, probably Monday, a new set of anti-deficit measures which a light could be a new day of solidarity, has said on Saturday a government source. "Conciliation meetings will be held the weekend before the ads are likely to take place Monday even if it is not yet confirmed," it was said the same source.Announcement of details of the measures occurring after a cabinet meeting postponed to Monday exceptionally due to preparation of the G-20 summit last Wednesday.

According to reports in the Journal du Dimanche, a government source confirmed a second day of solidarity is under consideration. Founded in 2004 after the 2003 heat wave, the first Solidarity Day is a day of unpaid work whose fruits fund the care of elderly and disabled. Originally set for Monday of Pentecost, that day, which reported 2.4 billion euros in 2010, has since 2008 organized "a la carte".

Other measures to be announced Monday include the raising of the reduced VAT rate, from 5.5% to 7% for the restoration and renovation of housing.

In a "difficult situation", France has retained last year's fourth largest exporter behind the United States, Britain and Russia, reads the report to Parliament on the exports of arms of France in 2010.

The main customers of France were Saudi Arabia, Brazil, India and Malaysia.

In the preamble to the report, the defense minister, Gérard Longuet, welcomed a "success" of France in a crisis.

He sees an encouragement "not to relax our efforts and to continue our work for our exports to strengthen the industrial and technological base defense of our country and preserve the 165,000 jobs that the industry has."

Over the period 2006-2010, the Middle East is the top destination for exports with 27%, followed closely by Latin America 25%, thanks to contracts with Brazil.

Asia represents 18% of the market, and expected success with India could advance this figure in years to come.Finally the percentage of world market share in Europe is 17%.

The contract for the sale of two ships Projection and Command (BPC) Mistral class in Russia for an estimated $ 1.2 billion was signed in June, and is not accounted for in 2010 .

The two helicopter carriers are built by the French shipyard DCNS, contractor on the contract, and STX, in collaboration with OSK.

DCNS, a public company, is controlled to 25% by the defense electronics group Thales.The Korean group STX, owner of the shipyards of Saint-Nazaire, is also involved in the construction of the Mistral.

As for the ongoing negotiations with several countries including Brazil and the United Arab Emirates to sell for the first time outside the Rafale combat aircraft from Dassault Aviation, they have not yet been completed.

Over the decade 2001-2010, the United States, Britain, Russia, France and Israel have shared 90% of the arms market.

The issue of recapitalization of banks is a major enrolled in the agenda of the EU summit scheduled for Sunday, expected to make a comprehensive response to the debt crisis.

"Thank God it's not as high as suggested by the media.What is needed for the recapitalization is about 100 billion (euros), "said Maria Fekter at a conference.

Banking sources and the European Union had earlier told Reuters it would take 90 to 100 billion euros to recapitalize banks in the EU.

This amount, which is the subject of an agreement on the part of Twenty-Seven, should cover about sixty of the largest banks in the EU, the sources said.

"The amount was discussed by member states, it is now acceptable for everyone," said a source told Reuters the EU.

"The amount could exceed 90 billion euros," said a banking source.

The envelope must be added to the 50 billion already raised by European banks over the period from January to April and the funds raised on the market for which the sum is not yet precisely known.

Sovereign debt valued in "MARK TO MARKET"

It takes into account a requirement of capital adequacy ratio "core tier one" of 9% and retains the same definition of this ratio as that used in the last series of stress tests in July, despite protests from some countries.

Germany will for example not allowed to consider in its bank holdings "silent" they hold in other institutions and, in the same way, Spain will not recognize additional reserves of capital that Bank of Spain requires national banks.

As expected, the amount also takes into account a value to market value of sovereign debt held by banks.

This exercise of "mark to market" will cover not only the securities issued by the peripheral countries of the euro area but also those known as the center, who sometimes treat the secondary market at above face value, as the case for German Bunds.

"There is no reason that we inflicted only the negative aspects of this exercise without taking into account the positive aspects," said one source, but said it would have a positive impact on the envelope eventually required for such recapitalization.

This amount must now be discussed by finance ministers and between heads of state and government of the euro area and EU, who meet from Friday to Sunday in Brussels.

"At the moment, there is no impact on our sales," said Patrick Thomas told Reuters, adding that think the purchasing power of customers in the luxury had not yet been assigned.

"The fact that it does not see today does not mean it will not happen", he warned, however.

"When there are moments of macroeconomic concerns, it always results in our businesses."

The values ​​of luxury was heckled last week in the markets, amid concerns about the evolution of the Chinese market and the strength of demand for luxury goods in slowing global economy.

Patrick Thomas, however, has sought reassurance about the level of sales of Hermes in September. "September went well," he said.

In addition, the manager of the saddle on the Rue du Faubourg Saint-Honore said Hermes would soon create the family holding to sanctuaries a majority stake in the group face to the appetites of LVMH.

"It'll be soon. There are many administrative procedures," he said.

The toxic loans are loans that have a hand-indexed floating rate indices extremely volatile, likely to cause a spike in interest rates. Some loans are indexed to such an exchange rate of foreign currencies. According to their variations, interest may pounce. Release cites the case of municipalities that have seen interest rates rise to 10 or 15% this summer because of rising Swiss franc, their credits are indexed to such currency. However, some loans are still running until 2025 or 2030.The low cost of borrowing in the early years convinced the financial services community, who thought to save money without receiving the opacity and complexity of products.

Read about: Local authorities caught up toxic loans

5500 communities and institutions concerned

Liberation published on Wednesday a confidential document from the bank Dexia Credit Local (DCL), which amounts to 5500 the number of local authorities and public institutions which have made French toxic loans between 1995 and 2009. In total, the bank would have distributed 25 billion euros for these clients.Or "as estimated by the bank, the additional cost of these loans was estimated at 3.9 billion euros at the end of 2009," wrote Liberation, "which means that communities should pay a penalty of this order" .

Libération.fr provides a map of France infected bodies, municipalities, regions, departments all political stripes combined. Antibes, for example, has borrowed 60 million euros. It must repay 21 million extra. In Rouen, the risky loans represent 53% of the debt, for a total of 162 million euros.The city has already been provisioned 500,000 euros in 2009 and 1 million in 2010 to cope with soaring interest rates of its loans.

Read about: Local authorities still mired in the toxic loans

The HLM also contaminated

As local authorities, social landlords have contracted toxic financial products before the outbreak of the banking crisis. Exposure to risk financial products could reach 50% for a dozen of them.

Read about: What you should know about the crisis of public housing

The toxic loans account for 8% of the debt of public housing

Dexia in its sights

In a report published in 2009, the Court of Auditors has confirmed the responsibility of banks, which provide "information over-optimistic or even wrong, to borrowers, guaranteeing them virtually no risk."Among them, the Dexia Group, the first local lender. In 2008 and 2009, its share in domestic credit has also plunged by 40, then 20%. Are also singled out the savings banks, Credit Agricole and Societe Generale. But the Court of Auditors also accused local authorities, who have adopted "a speculative approach" by borrowing structured.

Read about: Credits toxic local irrational, greedy banks

A double threat to taxpayers

Adding salt may be administered for. Exponential to pay the interest, communities can cut back on investment and substantially increase local taxes."The rise of the Swiss franc is a college at least for the Seine-Saint-Denis", says the chairman of the General Council of Seine-Saint-Denis, Claude Bartolone, in Libération.

Read about: The tricks of the departments to make ends meet

"The financial department is dramatic"

Legal action

From 2009, Saint-Etienne was the first city to announce its intention to assign the Deutsche Bank before the Tribunal de Grande Instance in Paris to set aside 20 million euros of toxic loans. In February, Claude Bartolone has also filed a complaint against the bank Depfa, Dexia and Caylon, hoping to overturn the 63 risky loans taken out between 1997 and 2008. He had already assigned Natixis in 2009.Other procedures, initiated by municipalities, are under way.

Read about: Borrowing toxic Seine-Saint-Denis attack three banks

Toxic loans: the politicians do block against banks

Claude Bartolone accuses Dexia "scam"

Some changes since 2008

In the months that followed the discovery of toxic loans in 2008, the government initially tried to minimize. The charter of good conduct promised at the time of the crisis has emerged in January 2010: it forbids banks to offer loans to local governments whose interest rate changes based on indices high risk. In practice, this rules out any link with commodity prices and equity markets.For their part, communities agree to more transparency on their debts and loans.

Tuesday, communities have come to begin the process that should lead to a funding agency dedicated to local investment, without automatic recourse to the banks. It could be operational in 2012 and would cover, in ten years, a quarter of loans to local market, which totals 20 billion euros. A bill will be tabled in Parliament with a view to its adoption before the end of the year.

The banks involved are Bank Hapoalim, Bank Leumi le-Israel BM and Mizrahi-Tefahot.

This extension of investigations to Israeli settlements mark an intensification of the fight against tax evasion, which opened in 2007 against UBS and Credit Suisse recently against continued.

However, Israel is a state close to the United States with whom he maintains close diplomatic and military support from more than $ 3.1 billion per year.

Aviram Cohen, spokesman for Bank Leumi in Tel Aviv, said Thursday that "the application related only to statistical data. It appears that these data will be used to an agreement between the Swiss and American. Obviously, the Bank Leumi Switzerland is cooperating fully with authorities in accordance with the law. "

According to the Swiss press, U.S. officials now have statistics of ten Swiss banks suspected of justice by helping their clients based in the United States to evade taxes.

The Deputy Minister of Justice James Cole sent a letter on August 31 asking for statistical information to Swiss banks in September and three Israelis.It gives them until Sept. 23 to provide details of their customers.

UBS has already passed under the yoke of American justice, having delivered nearly 4,500 American identities of customers in addition to the payment of $ 780 million to avoid a trial that had threatened its existence.