The National Assembly, which constitutionally the final word, conducted Tuesday at the final reading of this PLFSS after the Senate, where the left is now the majority, was the once again rejected Thursday.

This bill provides for a reduction to 13.9 billion euros, against 18.2 billion in 2011, the deficit of the general scheme of Social Security in 2012.

"Dear Silvio, a new opportunity to escape with Ryanair." It is this formula that the low-cost airline has launched an advertising campaign on its website to promote its flights to 9.99 euros from Rome.

With a photograph of the Italian Prime Minister taking in hand the new calendar of charity of the company filled with scantily clad women, Ryanair offers Berlusconi to "escape", while the head of government is experiencing a major political crisis in the country that could lead to step down.

This is not the first time that Ryanair uses the news to advertise.In August this year, the company overdone the matter Depardieu, who had urinated in the hallway of an aircraft during a flight on August 17. "We are not the only ones who piss on the competition," was written at the time Ryanair on its website. One thing is certain, if the company is ready to surf the news, this is rarely the best of taste …

The U.S. agency has reduced the sovereign rating of Baa1 to Baa3 from Cyprus, is just a notch above speculative grade.

This new note has been placed under review for possible downgrade again.

The need for public support to the banking sector comes as Nicosia lost access to international financial markets, which would force the country to seek emergency funding measures, says Moody's.

"This state support will have a significant negative impact on the debt of the state," the rating agency said in a statement.

The euro retreated against the dollar after the seven-week high hit the previous day in the wake of the Brussels agreement on the management of the debt crisis.

In the bond market, the Italian bond yield to 10 years has exceeded 6% after the award of the Treasury, while the German Bund futures cut their losses.

Brent crude dropped below the threshold of $ 110 and U.S. crude has returned close to 92 dollars.

The National Assembly approved Friday the establishment of a tax on soft drinks, the amount will be doubled from the initial draft of the government, and also introduced a tax on beverages containing artificial sweeteners, sodas lights.

The tax on soda, two cents per can, bring 240 million euros, half of which would finance the reduction of social security in agriculture, and the sweeteners on 40 million euros, said the Minister of Budget, Valérie Pécresse.

A few hours earlier it had expressed its opposition to a tax extended to lights products."Broadening the tax base it would lose its coherence" had she said, stressing the goal of the fight against obesity project.

The German Finance Minister Wolfgang Schaeuble said Thursday a "total agreement" between France and Germany on measures to resolve the crisis in the euro area, but warned that this did "not yet a European solution. " Asked about the outcome of consultations on Wednesday with Chancellor Angela Merkel, French President Nicolas Sarkozy and other senior EU officials, the minister said that the positions of France and Germany were "total agreement" but suggested that differences remained with other members of the euro area.

Earlier in the day, the Secretary of State for Finance Steffen Kampeter had, in a letter to German MPs, acknowledged the persistence of differences on certain issues, including the exact definition of the skills fund to support the euro area The EFSF. These differences do not seem to be the result of the two largest economies in the euro area. They "have a responsibility to control Europe, but it does not replace the negotiations of the 17 countries" in the euro area, found Mr. Schäuble.

European leaders have promised solutions to the debt crisis at the latest at the EU summit scheduled for Sunday, and negotiations for this purpose are underway. On the issue of a "lever" that would allow the EFSF to help European countries to the penalty beyond a volume of 440 billion euros, "we have no joint proposal" for the moment, a recognized the

The action of the first Swiss bank UBS has opened lower Monday after the surprise resignation of CEO Oswald Saturday Grübel after the scandal caused by the massive fraud by a trader who cost the institution $ 2.3 billion . After falling 2.17% at the opening, title UBS limited its losses, down 0.40% to 10.08 Swiss francs in a market down by 0.35% at 7:13 GMT.Sergio Ermotti, responsible for the affairs of the bank in Europe, Asia and Africa and a former leader of the Italian bank Unicredit, will assume the position of interim CEO with immediate effect, UBS had said Saturday.

Gruebele Oswald resigned after the spectacular case of fraud which cost 2.3 billion dollars and another blow to the reputation of the first bank Helvetic. "The Board of Directors of UBS has accepted the decision of Oswald Grübel to withdraw from his duties" the bank said in a statement. Kaspar Villiger, President of UBS, said in the statement that "The Council regrets the decision of Oswald Grübel.The latter considers it his duty to take responsibility for the recent case involving unauthorized trading operations. "

"This decision reflects the strength of its principles and integrity," added the president of UBS, adding that "during his tenure, he managed to turn the company around and increased impressively in the UBS base ". M. Gruebele, 67, was taken from his retirement two years ago to address the UBS, after leading the rival bank Credit Suisse. Taking the head of UBS in the midst of the financial crisis during which the bank had lost billions of francs and posted record losses, Gruebele M. had returned to profit in 2010.

Oswald Grübel "retires from office after having helped UBS to become one of the best capitalized banks in the world" acknowledged Saturday the chairman of banking giant Helvetic.Kaspar Villiger said shortly after during a conference call that the board of directors of UBS did not want to see Oswald Grübel leave immediately and would have preferred to keep jusqu''à the shareholders' meeting in spring 2012. But Oswald Grübel, abandoning his position as Chairman of the Executive next year would not have constituted a strong enough signal, said Chairman of UBS from Singapore. UBS disclosed last week have suffered a loss of $ 2.3 billion (1.7 billion) after one of its traders had made "unauthorized trading".

A broker of 31 years, Kweku Adoboli on suspicion of fraudulent transactions, was charged and detained in London, as part of this young man will affaire.Le jailed at least until his next hearing on 20 October.The largest shareholder in UBS, the Singapore sovereign fund GIC, had reacted severely after the discovery of the fraud, calling the Swiss bank "to react firmly to restore confidence in the bank."

There are less than a week, however, Oswald Gruebele, had told the Swiss Sunday newspaper Sonntag, he did not feel guilty in the fraud case and had no intention of resigning. "I am responsible for what happens in the bank. But if you ask me whether I feel guilty when I say no", said the banker, Sergio P. Ermotti, responsible for the affairs of the bank in Europe, Asia and Africa, will assume the position of interim CEO with immediate effect, said UBS."The Board is deeply disappointed by the loss from unauthorized trading operations and will fully support the independent investigation," said UBS also in a statement.

Swiss bank UBS had started Wednesday in Singapore where one of its largest shareholders, a series of meetings of its Board of Directors, held in the utmost secrecy. Friday, Oswald Grübel, continued to assert that he had always trusted the board of the group, despite the fraud and rumors of his imminent departure, according to a Swiss newspaper. Réagisssant the shock wave caused by the announcement of fraud, UBS decided to suspend all advertising campaigns.

Thousands of protesters began to gather in Rome Tuesday to protest against the austerity plan which the examination begins the same day the Senate to call the main Italian trade union, the CGIL, which also launched a word of 'general strike for the day.

"It's a plan that the country does not deserve", "we are on the brink of the abyss, we need a responsible government," said the general secretary of the CGIL, Susanna Camusso, before taking up cortège.Coups the whistle and peppered their attendant banners, all in a friendly atmosphere.

Demonstrations are planned in a hundred cities of the peninsula.In the morning there were already 10,000 demonstrators in Florence and a few thousand in Genoa.

Many tourist sites closed

The strike call, which will last eight hours, has caused disruption in many areas, particularly in transport. Planes, trains, buses, subways and ships record cancellations and delays.Famous sites like the Colosseum, the Roman Forums or the Borghese Gallery, are closed because of the strike also affects mouvement.La hospitals or jobs, but not the schools where the return has not started.

CGIL has triggered the movement to protest against the austerity plan, adopted in emergency on August 12 by the government, calling it "a wicked and evil", especially since it relates to labor law, making it more easy dismissal.

The review of the plan, expected to enable Italy to reach a balanced budget in 2013 instead of 2014, begins Tuesday at 1430 GMT in the Senate. The government wants its final adoption by mid-September.

France, aims to install 19,000 megawatts (MW) of onshore wind by 2020 but the "Grenelle of the environment" has increased the administrative strata including parks by submitting to the rules governing classified facilities for protection Environment (ICPE).

In terms of offshore wind, Frédéric Lanoë also concerned that the size of the recent tender of the French government is insufficient to establish a price competition.

"The wind projects are capital-financed by actors who are like us in many countries, since they are European-offs," he told Reuters on Thursday.

The rankings include ICPE forced to respect a distance of about twenty km from the masts of wind and weather radars in France and the army, which limits the number of areas available for their implementation.

"Currently almost 3,000 MW are blocked for reasons of speed cameras," said Frédéric Lanoë arguing that technological advances that reduce the trace of wind turbines on radar with a suitable paint.

EDPR in France operates 284 MW of installed capacity in onshore wind, or 5% of the capacity French, but most of its business is in the U.S. with 3,200 MW and Spain (2,050 MW).

The decline of France's attractiveness is also due to delay in the publication of regional patterns should determine the geographic areas allowed, the increase in tax due to the abandonment of the business tax and the many legal remedies, estimated Frédéric Lanoë yet.

Almost systematic recourse

"You end up with a compression of our very substantial margins that makes projects in France are far less attractive than projects in Romania or Poland," he added.

EDPR plans to have one.700 MW installed in Poland, slightly more than the capacity of an EPR-type nuclear reactor, 990 MW and 610 MW in France in Romania.

"There were good years but now in France do not follow megawatts. It is related to the combined effect of spatial constraints, the length of the instructions and use that freeze plans," said Frédéric Lanoë.The deadline for obtaining a building permit in France about two years against six months in Belgium, he said.

EDPR also search for partners to respond to the call for tenders launched in July by the Government for the implementation of 3000 MW offshore

"We are ready, we develop 2,500 MW in Scotland, we work on alliances, we will answer the call for tenders if we think that is likely to have the project and is profitable" at he said.

France, currently has no offshore wind farm and aims to install 6,000 MW by 2020 when England is 32,000 MW and 10,000 in Germany.

"The concern is the size of 3,000 MW that will help feed some players, but is it that there will be room for others?" Asked Frederic Lanoë.

The CEO of EDP Renovaveis wishes that the second phase of the tender announced for 3000 MW in April 2012 is advanced and more ambitious in order to attract more players and allow competition on prices.

The American Mead Johnson, the world of the market behind the Swiss group, prefers to focus on organic growth, said the banker.

Danone, the world number three for this activity, Nestlé and Wyeth are in a growth driver, with nearly 80% of its sales in emerging markets, said the source.

The two European companies seeking to evaluate the possible competition problems that could arise when securities are offered.

"Nestle and Danone see Wyeth as a strategic operation in a market where they will both grow and are clearly seen as the favorite to start of the auction," said the banker.

The two groups estimate that nearly 10% market growth of infant formula. Wyeth, with its brand of milk SMA, would allow them to accelerate growth in markets such as Asia and Latin America.