Monday, Greece had not yet given its response to the drastic conditions imposed by the European Union and the International Monetary Fund in return for a second plan help, and the meeting on that leaders of the major Greek political parties has been postponed until Tuesday.

In early trade, the Dow Jones lost 0.5% (64 points) at 12,798 points. The Standard & Poor's, wider, yielded 0.5% (7 points) at 1,338 points while the Nasdaq composite fell by 0.59% (17 points) to 2888 points.

"After a robust start to the year, investors take a break to reassess the drivers of the market," said Andre Bakhos to Lek Securities.

Values, Hasbro drops 2.7% after posting a fourth quarter earnings just above the expectations of analysts, who themselves had been lowered .

Lazard loose more than 7%. The investment bank posted a quarterly profit below expectations, hurt by lower commissions received as a financial advisory segment, which has not prevented ; to raise its dividend.

While consumption in électricté soaring these days, the automatic assignment of social tariffs for electricity is still conspicuously absent. Yet, the measure should come into force on 1 January. This had been announced in the autumn Eric Besson, Minister of Energy. Indeed, he had promised for this winter complete automation of the procedure for awarding the tariff of primary necessity (TPN), commonly called the social rate of electricity

This delay, which should continue for several more weeks, is because the "last formal consultations" between government and industry must always be held together with a notice of the State Council, said the Ministry of energy, confirming the information of the Parisian …

These special rates are reserved for beneficiaries of the Universal Health Coverage (CMU) or any person whose monthly income is below 634 euros a month (for a single person). Entered into force in 2005 for electricity and for gas in 2008, social tariffs were previously allocated on demand to beneficiaries (the limit is 7800 annual revenues of approximately EUR for a single person and 11,700 for a childless couple, ed), but by lack of information or administrative complexity, many do not demand.

Only 600,000 households currently receive social tariffs so that 1.5 to 2 million are eligible, a situation that had prompted the government to promise its automation. The reduction is estimated by EDF and GDF Suez at about 90 euros per year for electricity and 140 euros for gas.

"The decree is under review by the State Council, it should be able to give its opinion in the coming weeks, as he will have the last formal consultations that are normally involved in early (February Ed.) . The decree will be published in the coming days, "the ministry said in a

. commmuniqué, president of the Syndicat Intercommunal the Outskirts of Paris for Electricity and Communication Networks (Sipperec) Catherine Peyge noted that there was "urgent." Some 3.8 million households, or 14.4% of French households in the metropolis, are currently considered in fuel poverty, c 'ie they spend more than 10% of their budget for their energy bills, says she. "What do the government to publish the decree and to end this anomaly is that a tariff, decided in 2000, implemented in 2005, still unable to protect families who need it? Meanwhile the electricity prices rose 6% in two years, and the bill could rise by 30% by 2016 ", criticized Ms. Peyge

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In a statement on the financial sector reform, the Ministry of Economy said that banks will increase to 80%, their provisions for problem assets.

Madrid said that no public money would be used for banking reform and institutions had until the end of the year to increase their level of provisions. 

The aim of this reform is to trigger a new wave of consolidation in the sector to develop, four years after the bursting of the housing bubble, banks stronger and restore confidence vis-à-vis Spain, which could still be a victim of the debt crisis in the euro area if ever it were to worsen.

Took office in December, the new right-wing government led by Mariano Rajoy is committed to restructuring the banking sector in the country once and for all. 

The previous government, Socialist Jose Luis Rodriguez Zapatero, had forced some 45 regional savings banks, the "cajas" – for the most highly exposed to noxious claims after the collapse of the housing market in 2007 – to merge with each other and to raise capital, brandishing the threat of nationalization for those who do not would comply with its guidelines.

With the austerity measures taken by the two successive governments to Spain to avoid being carried away by the debt crisis, an unemployment rate that reached 23% the labor force and a likely recession into the fourth largest economy in the euro area – the second in four years – bank loans do not increase. 

But their potential losses are so high – $ 176 billion according to the Bank of Spain 18% of GDP – that markets are not likely to repeat immediately trust sector.

The bank most threatened by the banking reform is Bankia, the result of the merger of seven "cajas" became the fourth bank, which is particularly exposed to the real estate sector.

The property, which has already received 4.5 billion euros of state aid, a portfolio of 41 billion euros in loans to developers and 11 billion of real estate with were seized.

Maureen Miskovic, the risk manager questioned after the scandal caused by the loss of 1.85 billion francs resulting from unauthorized transactions of one of its traders in London, left the group she joined in January.

It will be replaced as director of risk by Philip Lofts, currently director of UBS Group Americas.He had previously held that position at UBS between 2008 and 2010.

Robert McCann, who joined the group in 2009, will serve as the head of UBS Group Americas in addition to his duties as head of wealth management Americas.

Ulrich Körner takes the former position of Sergio Ermotti at the head of the Europe, Middle East and Africa (EMEA) and keeps his position as Chief Operating Officer (COO) and Director of the Corporate Center.

The director of investment bank Carsten Kengeter is kept at his post, although it has been heavily criticized after the scandal losses brokerage in London.

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.

The Minister of Labour Xavier Bertrand said on Sunday that the unemployment figures of the month in October would be "not good", asked the Grand Jury RTL / Le Figaro / LCI. The figures, to be published Monday, "will not be good and everyone knows they can not be good due to a crisis which does not come out yet and even in the field is growing," he the minister said."When we decided to discontinue its business relationship with a subcontractor and that is a very large group, we must notice," he said, adding also want to "support the employees of these subcontractors."

A permanent contract for temporary

Xavier Bertrand was also suggested to create a permanent contract in the agency sector. "I'm going to suggest to all companies in this sector to set up a permanent to temporary," he said, saying it might interest between 15 and 25% of the 500,000 temporary workers. The minister also stressed the need to improve the system's return to work after periods of unemployment.

Referring to the future of 35 hours, including the UMP says it wants "out", Xavier Bertrand said that France was already "out of 35 hours." He ruled out any "revenge" and "ideological approach" that "would penalize employees."

Lu Zhongyuan, vice president of the think tank Development Research Centre (DRC) of the Chinese government also believes that inflation will fall to 4.5% next year.

The economic slowdown expected – compared to a rate of over 9% expected this year – is estimated by the economist as "reasonable and acceptable" because, he says, the quality of growth improves.

While Budapest dismissed all claims with the International Monetary Fund since he took office in spring 2010, the decision of the head of the Conservative government to reconnect with the institution led by Christine Lagarde is a clear political defeat.

He assured that the government did not act in an emergency, Hungary continued to borrow in the markets and the agreement would not affect the financing of public debt.

"We are not dependent on the goodwill of others," he said.

The IMF representative in Budapest was not immediately available to comment on these statements.