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Leaving a few weeks ago his book "When I was Superman," the former professional rugby player Raphael Poulain thought might not meet such a promotion for his first work. His testimony, however, echoes the experience of dozens of former athletes who have not managed early enough or seriously enough after their career. While attempting an acting career, the former player of the French stage is always at RSA …

Carefree, career fantasy, sports drink business … there are many pitfalls to a successful second career. "The Transformation of an elite athlete must be thought as soon as possible, even if the training choices that we made 18 years are not necessarily the same as the desires of end of career," insists Bruno Martini Former goalkeeper of France handball and now general manager of the Paris Handball.

"As soon as possible"

Do nothing in a hurry: the board is now accepted by all players around athlete (coaches, associations, consulting companies to sports, some agents). Many entities are trying to build bridges between the world of sport and of the company. Renault, official partner of the XV of France, has just launched with Proval (union of professional rugby players), a program offering a career to former professional players. One type of initiative more often the values ​​of the sporting world (fighting spirit, a taste for effort …) are highly valued in the business world.

In fact, the discourse is much more difficult to move among young people, especially in sports most media, such as football."Today a young footballer aged 15-16 in the training center already won 500 to 600 euros per month and turned professional at 18, with a nice salary," explains Sébastien Pampanay, director of the Ecole des sports occupations professional, working with football clubs on the training of young athletes. "Even in lesser-known individual sports such as tennis, table tennis a young age of 16 wins in the good clubs from 3500 to 4000 euros net per month. After that, go ask them to pass the exam! "Adds Thierry Maudet, executive director of the National Sports Institute, expertise and performance (INSEP), which trains and prepares high-level individual sports.

Social responsibility of clubs

The less publicized sports such as handball and volleyball are in turn more favorable to a successful conversion.Less concerned with early and huge income, keep young athletes' head on his shoulders. " Especially as their media visibility weaker does not help sponsors and advertising contracts very generous. "Clubs are beginning to understand they have a social responsibility on the support of their post-professional players," said Bruno Martini, 80% of its players are trained parallel.

In rugby, the professionalisation of sport sometimes lose their heads to the younger generations, but those who experienced the period amateur took the lead. With varying success. Kémana Spa, the spa center of Serge Betsen, former International XV of France, filed for bankruptcy earlier this year for lack of sufficient involvement in the management of his company he acknowledges himself.Not enough to scald his brothers studs, "who do not know offline realities professionalism," said Miguel Fernandez, players' agent. " Of the 30 French rugby parties in New Zealand, 14 have a side like Lionel Nallet (mechanical parts), Imanol Harinordoquy (clothing brand) or Vincent Clerc (Team One Group: event and sports marketing).

However, despite the good will, training remains a matter of priorities, and even sacrifices. His 30-year well underway, Bruno Martini had to change twice before finding a club in Nimes framework laid him to spend his degree club manager.

Fault lines as sports

Overall, fault lines affect the earliness and quality of the preparation of a post-career.Whether you are male or female, international sports or not, and in a team sport or individual management of retirement sports varies widely. However, the main difference between the high-profile sports and the more confidential. In the first case, the financial gains will promote a higher awareness of the athlete against the importance of rapidly forming a capital, and form. "In France, only 150 players on the 2000 working professionals do not have to worry financially for a second life project, warns Sébastien Pampanay. However, thinking of his conversion is still not part of the natural gait of a professional football player, unlike other sports where the mentality is different. "

For example, the judoka Décosse Lucie, triple world champion and European champion four of his discipline follows a parallel training as a journalist with the CFJ. A woman in an individual sport, the economy far less developed than that of football or rugby would be aware of any financial potential of his career. But exceptions exist, such as media Mickaël Landreau, footballer and current goalkeeper of the club Lille LOSC, now in training (master of management).

Ultimately, the issue of supervision and training of the athlete according to his discipline are crucial. "There is not a sport, but sports, with different realities, warns of Insep Thierry Maudet. The current problem is that we have cloned the same mode of organization for all disciplines.A gymnast has a volume of training equal or even greater than that of a footballer, to operate in a sport to the economic model does not exist! ". From this point of view, the family and the maturity of the sport often make the difference. "Too many young athletes are not yet aware of these constraints. They dream to come true in their sport, "career" and to live, says the head of school sport. We must make them understand that their responsibility in the field, it should be taken also in life. "

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A reversal? 3D movies, which have attracted a global craze with the release of Avatar two years ago, no longer win the accession with the French public. This is the conclusion of a survey conducted by the online trade magazine Le Film French, and Allociné UP3D this summer with a sample of 11,867 respondents aged 15 to 64. Against all odds, the audience would have preferred to see 80% 2D 3D movies … because of the price (35%), discomfort glasses (25%), the images are too dark (15%) or the migraine (15%) or simple rejection of the 3D (10%), the study said. Even better, viewers have seen impose regret this format and not being able to only 27% choose to see the film in 2D.

Moreover, only 20% of viewers are satisfied with the quality of 3D against 57% who are not.Finally, the audience was quick to tell the difference between films shot in 3D directly and adjustments made after a shooting in 2D. 40% of respondents are low marks for quality movies converted to 3D in extremis.

Debate raging in the big Hollywood studios

The Médiamétrie, which just made the trade magazine Cinema side a study on the digitization of cinemas, also notes "that public disaffection for 3D and shortness of admissions." But stresses Aurélie Rix, director of the film to Médiamétrie, "operators are still in the 3D and digital opportunity to bounce back by opening their screens with other forms of entertainment and projections such as concerts or sporting events.Enough to return to the class rooms of viewers who had abandoned the big screen. "

Film Studies and French Médiamétrie fall even more steeply that the debate has raged all summer in the big Hollywood studios face the same public resistance which gradually moving away from 3D screens to return to the conventional screen. In its edition of August 12 the very serious Wall Street Journal noted that if 70% of revenues from Alice in Wonderland 3D projections came in 2010, however, 57% of viewers were content to the 2D projection of the last Harry Potter Business Card Holders. There were only 45% choose the 3D much for The Green Lantern and Kung Fu Panda, and 47% for the last Pirate of the Caribbean.In comparison, Avatar, despite the lack of 3D displays of the time, had achieved 75% of its revenue projections through 3D.

Minimize the reversal of consumers

This loss occurs even Hollywood has doubled its number of 3D productions for 2011 compared to the previous year. As many as 16 films planned for this year. Not least because the three main sponsors of the American cinema – Francis Ford Coppola (Twixt), Martin Scorsese (Hugo) and Steven Spielberg (Tintin and the Secret of the Unicorn) – announced rotate in 3D. Not to mention that Ridley Scott is preparing its new Alien, named Prometheus. They try to minimize this reversal of consumers claiming the quality of films.In essence, they recall that a bad movie is always a bad film and even 3D viewers the sanction as such.

Add to this the fact the United States the number of cinema admissions fell by 9% over the first six months of the year and the animated films, privileged territory of the 3D n ' have much more coast than in the past. Rio de la Fox, Paramount and the Rango Hop Universal have jointly made fewer entries than Shrek 3, four years ago, noted the New York Times last May.

What lead to the skepticism of financial markets, the Wall Street Journal, the stock market would have penalized companies specializing in 3D technology, such as RealD. All indicators that are forcing studios to rethink their strategy for production and slow down.Bad news for manufacturers of 3D TV, 3D content eager to boost their sales to come.

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Christine Lagarde calls on rich countries to take action to avoid the risk of recession. "Those who have the fiscal space should support growth," said she, thinking probably in the United States, provided they undertake to reduce their deficits also sustainable in the medium and long term.

But the executive director of the International Monetary Fund (IMF) who received Tuesday in his new office in Washington a few journalists, mainly discussed the situation in Europe. "The time for action, collective action, bold action and immediate action" said the former French Minister. "My role is to ensure that this call to action is heard," an implicit reference to the frustration of many in the IMF, but also in the markets, given the way in which European countries are reluctant to take unpopular measures to save the euro."I can not think that governments do not share my opinion," she says diplomatically.

His call to action includes both the need for countries like Greece and Italy to adopt measures for compelling the markets and stick to it. For some it is better to collect such tax revenues, for others to reform the state to better utilize resources. Announced and voting reform is necessary, but everything is in "implementation, implementation, implementation, she repeated three times, it is only that way that market confidence can return "

Greek sacrifices

But his call is also likely that Germany seems reluctant on the need to persevere in the implementation of plans designed to aid in Athens by the European Union, the ECB and the IMF.The context of the commentary Christine Lagarde, namely the conversation expected in the coming hours between Angela Merkel, Nicolas Sarkozy and George Papandreou, is crucial. The IMF wants surely as German pressure on Greece to be productive, so that the deficit reduction commitments are kept. But the IMF also wants the Greek sacrifices and new adjustments decided by George Papandreou will be rewarded with the continued support of the first countries in the euro zone to avoid a default that would have significant systemic implications.

On the controversial issue of the urgent need to increase the equity of European banks, Christine Lagarde has wanted to avoid adding fuel to the fire. Distrust of markets that precipitated sharp falls in the prices of banks reflects a serious crisis of confidence."We are close to an open banking crisis" such as Judge Mohamed El-Erian, head of PIMCO, one of the largest investment funds in the world.

Calling Christine Lagarde late August to urgent recapitalization of banks, if necessary with public funds, was poorly received by the European authorities. "I do not back down. But I return to the reasons why the IMF thinks so. We have two objectives: growth and employment. Or to feed growth and create jobs, we need credit … it is necessary that banks' balance sheets are healthy … do not fear the crisis of sovereign debt will result in a too fast and that banks limit their lending to the economy, "said the CEO. This is also now late in the day that the institution will release its persectives the global economy.

Meanwhile, she prepares the next week the annual meetings of IMF member countries and the World Bank. The former French Minister of Economy said "not to have changed since moving to the IMF … but I changed my perspective … I see things differently. Since this post I see more interconnections between countries and I see better what countries have an interest to act collectively in the interest of the economy "rather than strictly individual interest.

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This is unprecedented in the history of the Vendée Globe, which will start the 7th November 10, 2012 from Les Sables d'Olonne. At 14 months of departure, half of the expected plateau of the skippers in this race around the world solo, nonstop and without assistance, has not found sponsors to support them.

In detail, the organizers of the event have so far received confirmation of the participation of twelve sailors, including Jean-Pierre Dick (Virbac-Paprec), Vincent Riou (PRB), Kito de Pavant (Bel) or Armel Le Cléach yet '(Banque Populaire).However skippers also titled (thirteen in all) that Jeremiah Beyou (last winner of the Solitaire du Figaro), Yann Elies, Jean Le Cam, Raphael Dinelli (four Vendée Globe on the clock) or the revelation of the last Vendée, the British Sam Davies, is currently docked for lack of partners.

"You can imagine without the Vendée Globe sailors who all have unique or promising career," says Denid Horeau, Race Director. Given the urgency of the situation the organizers (SAEM Vendée) and its partners (the food company Sodebo, the General Council of Vendée and the town of Les Sables d'Olonne) organized a demonstration on Thursday that aimed to évémentielles agency relationship, prospects and sports."We hope that this current waiting list quickly becomes a list of registered voters," insists Jean-Pierre Champion, President of the FFV (French Sailing Federation).

No need to budget staggering

Although it is difficult now to convince the business community to mobilize in the sports sponsorship budgets in times of economic crisis and financial uncertainty, the race around the world (known as the Everest of the Seas) intends to assert its assets.

They are obviously many: 1.7 million viewers for the start in Les Sables, or the arrival in the village, some 466 hours of television (which highlight the boats and the names of their sponsors), near 59 million Internet users after the race …."Since our commitment to sailing in 1998, media coverage amounted to more than 82 million euros," says Pascal Cadorel, communications director of the family group Sodebo, which also sponsors Thomas Coville. As for his reputation, it was multiplied by 18 over the same period. Return on investment, media coverage, mobilizing tool in-house employees: Vendée Globe partners have increased their arguments persuasive and have wanted to attract new investors.

"No need to get on the Vendée Globe with staggering budgets. Even small projects can impact winning, "repeated Christopher Chabot, CEO of Akena Verandas, which posted 25 million euros in sales when it is committed to sailing in 2004.Today Arnaud Boissières sponsor, the group is No. 1 manufacturer of conservatories from individuals and has 700 employees. "This is the works council who insisted that we continue the adventure in sailing," said he. That's why he campaigned for SMEs to join the adventure and trying experience of sailing sponsorship.

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Testimony will or letter of resignation? Despite his categorical denials in the spring, including members of the executive, who asked, Christian Charpy is indeed to complete an account of his three years as general manager of employment center. Titled The head of employment, the book, Le Figaro has obtained a copy will be available Sept. 8. However, the Charpy mandate expires at the end of the year and the Minister of Employment, Xavier Bertrand, continues to make it clear publicly that his "exit" will be faster, last Thursday, he repeated again at Figaro . The contents of the book is likely to accelerate the movement …

While the employment center boss does not attack his name minister. But it strives, in a final chapter "to go further," to criticize one by one the thrusts of Xavier Bertrand instant payday loan.Doing so trades voltage (or those positions are filled) "alpha and omega of an employment policy reflects a restrictive vision of the situation well," Charpy loose. While Xavier Bertrand refused to increase the number it considers "necessary" to strengthen them. Employment center boss surprised "when the increases in the accompaniment of the retrenched, one can consider reducing the accompaniment of other job seekers." And find it ironic that "it reduces opportunities to verify the authenticity of acts of job search by reducing the monthly monitoring personal" when we want "to hunt fake unemployed."

"Showdown"

(Photo credits: Tallandier)

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The bill may be steep Irene. The governor of New Jersey, Chris Christie, has evaluated this Sunday on the NBC television network damage caused by Hurricane "billions of dollars, even tens of billions of dollars." According to an alternative estimate delivered by the consulting firm Kinetic analysis, the hardware cost of this storm is expected to rise between five and ten billion dollars, most likely around seven billion. Just to the North Carolina and South Carolina, two states already affected by the hurricane, the amount of losses expected to reach between 200 and 400 million.

Above all, this damage should be responsible in large measure to the State, businesses and individuals, when insurers should take on a lesser share of the burden, said Chuck Watson, one of the leaders of Kinetic Analysis told AFP."Most of the structural damage will be caused by the rising water because of rain and coastal flooding. Yet this type of damage is not covered by private insurance, "said he.

The same applies to losses caused by the cessation of activity in areas relevant to the coast, or the cost incurred by the evacuation of hundreds of thousands of people. Thus, New York, usually hectic, has been transformed this weekend into a ghost town, most shops have closed up shop and residents have been urged to stay home. But there is no damage reported, insurance should not pay a dime to compensate their members.

Insurers expected to be down

Insurance companies, however, should see their value fall Monday at the New York Stock Exchange.On Friday, insurers Allstate and Travelers had fallen to the lowest levels for two years, investors anticipate the costs incurred by the hurricane for those companies.

The amount of the invoice should still be less than initially estimated. Thus, Kinetic analysis was planned on Friday that a tornado could generate over 12 billion euros of damage if it hit New York at the height of its intensity. Finally, she was demoted to a mere tropical storm, with winds still 100 km / hour. These amounts are in any case of a different order of magnitude as the colossal damage of about $ 100 billion registered during Hurricane Katrina in 2005.

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After a rebound during the session, Wall Street has finally caught up by letting the gloom hanging over global stock markets for two weeks at the close on Friday, the Dow Jones gives 1.57% to 10,818.48 points and the Nasdaq, dominated by technology loses 1.32 points 2341.86.

After opening in the red, the indices of New York had yet managed to climb briefly into the green. Before ending again in the red. Of all black this week, the Dow Jones lost 3.71% and the Nasdaq fell 6.53%.

This Friday, the NYSE has not been spared by the new storm that struck the European stock exchanges and which had already shaken the stock markets in Asia. Yesterday, as elsewhere, the New York Stock Exchange closed down a massive, affected by disappointing indicators released during the meeting confirming the poor performance of the U.S. economy.Moreover, operators, already worried by the economy of the euro area, were cooled by the large loan dollars awarded by the European Central Bank (ECB) to a bank in Europe, whose identity has not been revealed. This action has reinforced doubts about the ability of banks to refinance the region. The euro also declined against the dollar and is trading around 1.4290 dollars against 1.4319 on Thursday.

Finally, Morgan Stanley confirmed the fears of a global economic slowdown by scaling back its growth forecasts for 2011 and 2012. The bank also said the United States and Europe were "dangerously close to recession."

Evidence that the operators' confidence is at its lowest, gold, a safe haven par excellence, is powered from yesterday to new heights.On Friday, an ounce reached a new record in 1864 dollars after jumping up to 1867.30 dollars in the morning. For its part, a barrel of U.S. light crude oil, which fell 6% yesterday, still lost 12 cents Friday to 82.26 dollars a barrel. Over the whole week, he lost 3.12 dollars, or 3.65%, registering a fourth weekly loss in a row. Contracts on October Brent have lost them for their $ 1.63 to 108.62 dollars a barrel.

Values ​​of the day

On the corporate side, this session will be marked by a slump in Hewlett-Packard, which lost just over 20% to 23.60 dollars. The group published its results on Thursday lowered its annual forecast for the third consecutive time. It now expects an annual turnover of between 127.2 and 127.6 billion dollars, against a previous estimate of between 129 and 130 billion.The group, which has made a takeover offer for the British publisher of software Autonomy, has also announced plans to dispose of its business in personal computers. Another major surprise: HP goes out of business in the mobile, arresting the development of tablets and smartphones.

Bank of America (-1.14% to 6.93 dollars) will remove 3500 positions during the quarter, according to an internal document cited by Reuters.

Autodesk (-11.69% to 23.41 dollars) has reported a 6% increase in revenues in the second quarter and a net profit better than expected at 71.2 million euros, or 30 cents per share.

Gap (-8.61% to 10.67 dollars) on Thursday posted quarterly earnings above expectations of analysts, despite a decline in sales to a number of store.Net income for the group totaled $ 189 million (131.8 million), or 35 cents a share, against $ 234 million, or 36 cents per share a year earlier.

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How to stop the contagion of the crisis of debt in the euro zone? European leaders are working on the subject while, after Greece, Ireland and Portugal, the budgets of Spain and Italy still worried. Among the options considered: Eurobonds. Berlin does not want to hear about it, Paris does not show much enthusiasm either. However, this proposal is increasingly cited as the most credible to stem the crisis.

What Eurobonds?

Eurobonds (in English or eurobonds) are bonds issued by all 17 Member States of the euro area and subscribed in their common name.The rate of these bonds would be an average for the various member countries, now very different depending on the health of national economies: while German interest rates to 10 stood at 2.62%, those of the Greece nearly 15%.

The creation of the Eurobond, which would mark a greater economic integration in the euro zone, would be to pool the debts of member countries.

What are their advantages?

"If there had been the 'Eurobonds', we would not have today's crisis," says the Italian Minister of Economy, Giulio Tremonti. Such titles would indeed to most indebted countries to borrow at rates lower than those applied to them today. And so break the current vicious circle: with interest rates high, they struggle to refinance markets.

Last week, the European Central Bank (ECB) has disbursed a record $ 22 billion of debt to buy Italian and Spanish, allowing a relaxation of bond yields. But for many, these measures are not sufficient and Eurobonds appear as the most credible to stop the contagion of the debt crisis.

Opposing their creation?

Germany refuses to discuss it. Berlin has in fact particularly low interest rates and would be the big loser of the pooling of European debts. She also fears that the Eurobond release the pressure on states to réquilibrer their finances. Germany wants a greater economic cooperation among member countries of the euro area and the creation of a European institution that would oversee the fiscal policy of each.

Hence the warning before the meeting between Nicolas Sarkozy and Angela Merkel on Tuesday afternoon: "We will not cover Eurobonds on our own because it is not, in our opinion, a way desirable or practicable" , said the spokesman of Chancellor allemande payday advance.La France also spoke against the Eurobonds.

"We have a common monetary policy and fiscal policy in each country individually," which results in different interest rates, and "as is the case, Eurobonds are not an option"

Has revived the debate?

The creation of Eurobonds is promoted by long-time supporters of federalism in Europe, including Jean-Claude Juncker.States who suffer from debt interest rates are higher, of course, too, this solution in a positive light.

But even in Germany, the idea seems to be gaining ground: the president of the association of German exporters (BGA), Anton Boerner, has taken a stand for the creation of European bonds, "We need it, and we needed quickly, "he said, calling for the introduction of" golden rules "budget to support their creation.The German daily Die Welt also reported this weekend that the German government began to consider the Eurobonds.

Britain, which has not adopted the euro, has also come out in favor of Eurobonds by the voice of his finance minister, George Osborne: it asked "institutions in the euro area to all that is necessary to maintain stability ", describing the disintegration of the euro as" economic disaster including the UK "." Solutions such as Eurobonds and other forms of security must now be considered seriously, "he added.

Other voices were heard recently in favor of it "Europe needs Eurobonds," said the investor George Soros in an article published Monday by the Financial Times: "Germany and Other countries have AAA in one way or another to create a system of Eurobonds. Otherwise, the euro will collapse. "

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The fall of 6.9% of GDP in the second quarter is not for nothing. While the empty streets of Athens with the approach of August 15, the Greeks are reluctant to take a vacation. According to a survey by the Consumers' Association, six out of ten Greeks will not go this year because of the crisis. Specifically, "46% do not go a week, and only 5% will go over two days," Gianna Karatyni analysis of the Consumers' Association. "Morale is not, but the wallet either. Now the Greeks think twice before leaving, especially when the price of ferry tickets, for example to go to Crete for a family of four with a car, is 600 euros, one quarter of household earnings. A luxury, "she says.

Yet the absence of the Greeks is not visible on the beaches of the islands of the Aegean Sea. And for good reason, this summer, tourists from around the world flock by the thousands.Travel agencies estimate that 20% increase in bookings compared to 2010. "The French are fighting the same record," adds Theodore Chartomatsidis, director of the Hellenic Tourism Office in Paris: "Applications abound every day with our services. The numbers prove it. There is, for now, an increase of at least 28% of French tourists in Greece this year, "says he. "That means they could exceed one million visitors, a figure that was the goal for three years. It is therefore encouraging because with few means of promotion, we have shown that there is another Greek than the economic crisis, like the food for example. The French responded immediately, in solidarity, above all, "he adds.

A safer country as Tunisia and Egypt

In the port of Piraeus, boats, coming and going in the islands of the Aegean Sea, are met.Karine, a French tourist, who came with family, preparing to embark for the island of Kalymnos in the Dodecanese. Impressed by the number of travelers, she concluded that ultimately the economy will be beneficial to Greece: "I think people, especially the French, were frightened by the situation in Tunisia or Egypt. Greece remains a safe country, to which is attached without really knowing him. The holidays are enjoyable, even if sometimes small strikes, "said she. Like many tourists, Karine does not hide his desire to acquire a small house overlooking the sea "if prices fall with the crisis," she says. The property prices have not fallen but never mind, for some tourists, there is an incentive to come back next year.

The Greeks do not let themselves down so far.Some invade the beaches near the capital, while others go for short-haul and less expensive way, almost 30% of Greeks went beyond their prejudices to enjoy the beaches and rates of neighboring Albania.

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The damage is limited. After the first weekend after the degradation of the sovereign rating of the United States by Standard's and Poor's, the world was afraid to wake up on Monday on a stock market crash. Certainly, Asian stock markets, first to start the week and give the trend, showing all this morning a marked decline of more than 2%. But the risk of a crash seems for the moment excluded.

In Tokyo, after opening down 1.40%, the Nikkei 225 for blue chips ended down 2.18% to 9097.56 points.La statement last night, the Japanese Minister of Finance Yoshihiko Noda, who has maintained confidence in the U.S. Treasury, was not enough to allay the concerns of investors. The Minister emphasized the mobilization of the European central bankers, a sign of awareness on the efforts to be undertaken.

More than 48 hours after the announcement that shook the world's largest economy, Asian investors have been partially sensitive to the political mobilization of the weekend, both of European leaders, who called for the adoption by the end of September the bailout of Greece on 21 July. But also that of the ECB, on Sunday night discussed a possible acquisition of Italian and Spanish debt, and the White House, which yesterday called for unity among Democrats and Republicans.

The yen is rebounding

Still, if the announcement of the degradation of the United States was somewhat expected in Asia, the timing chosen by Standard & Poor's has caught the markets, even after a weekend of reflection, continuing their descent into hell.In this context of concern about the state of European and American finance, the yen has tended to take some strength vis-à-vis the dollar and euro saving account payday loan. Around 4 o'clock, Paris time, the dollar was worth around 78.05 yen and the euro hovered on the other hand around 111.90 yen, the two displayed small decline vis-à-vis the Japanese currency. A phenomenon still unfavorable export values.

Other major Asian markets show a stronger decline in Tokyo. China, which was very critical this weekend against the failure of U.S. lawmakers to find a long-term solution to their debt problems, the tooth was also harder on the markets: the Hang Seng Hong Kong picks up 4.12% on Monday morning at 20,082.80 points while the Chinese CSI 300 lost 3.51% to 2795.64 points.Beijing is by far the largest holder of U.S. debt in the world with 1.16 trillion dollars of U.S. Treasury bills in the drawers.

Elsewhere in Asia, all places show a sharp decline. The KRX South Korean loose 3.45% to 7581.86 points, while the S & P / ASX 200 Australian loses 2.14% to 4017.60 points. A Bonbay, the BSE Sensex was down 2.60% to 16,855.60 points. Finally in Singapore, the FTSE Straits shows the largest decline (-4.14%) to 2870.92 points.

Oil continues to tumble

Moreover, in this context very uncertain about the strength of economic recovery, oil prices continued their steep decline on Monday morning in electronic trading in Asia. A barrel of "light sweet crude" for September delivery lost 2.59 dollars to 84.29 dollars.That of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

At the same time, gold has gone through the roof of 1700 dollars to 1704 dollars an ounce on the market in Hong Kong.

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