Showing posts with label europe news. Show all posts
Showing posts with label europe news. Show all posts

Sunday, January 01, 2012

Wedding ring 'found on carrot' after 16 years

Wedding Ring found at the top of Carrot
A Swedish woman has discovered her wedding ring on a carrot growing in her garden, 16 years after she lost it, says a newspaper.

Lena Paahlsson had long ago lost hope of finding the ring, which she designed herself, reports Dagens Nyheter.

The white-gold band, set with seven small diamonds, went missing in her kitchen in 1995, she told the paper.

Although the ring no longer fits, she hopes to have it enlarged so she can wear it again.

Mrs Paahlsson and her family live on a farm near Mora in central Sweden.

She took the ring off to do some Christmas baking with her daughters, but it disappeared from the work surface where it had been left, she explained to Dagens Nyheter.

The family searched everywhere and years later took up the tiling on the floor during renovations, in the hope of finding the ring.

It was not until 16 years later when Mrs Paahlsson was pulling up carrots in her garden that she noticed one with the gold band fastened tightly around it.

"The carrot was sprouting in the middle of the ring. It is quite incredible," her husband Ola said to the newspaper.

The couple believe the ring fell into a sink back in 1995 and was lost in vegetable peelings that were turned into compost or fed to their sheep.

"I had given up hope," Mrs Paahlsson told Dagens Nyheter, adding that she wanted to have the ring adjusted to fit her.

"Now that I have found the ring again I want to be able to use it," she said.

News by BBC

Wednesday, December 07, 2011

Euro-league Basketball: Nancy loses big against Fenerbahçe

Euro-league Basketball
AFP - Nancy has lost much of his illusions in Euroleague basketball in his room leaning heavily against the Turks of Fenerbahce (53-73) Wednesday night at a great shortage of offensive.

The champions of France are now virtually condemned to win their last two matches to hope to qualify for the Top 16, this second phase that no club has not seen since ProA Pau-Orthez in 2007.

That is to say how Wednesday's defeat, his first this season at home, is expensive to Sluc who had run after the score throughout the game and never actually digested anemic first period (25-32) .

Denied by the pace of basketball academic "Fener" players Jean-Luc Monschau never managed to break free of their chains. Expelled from the Turkish bat, they tried their luck from distance, but were too clumsy (30% in the two-point shots, 22% three!) To hope for better.

Stronger after the break, they managed to return a moment to a point (40-41, 28th). But as soon as they sniffed the equalizer, their opponents took up the wide, taking advantage of their awkwardness and their waste in the game to impose a night Lorraine terribly frustrating.

Orphans of Nicolas Batum, left in the NBA, players Nancy did not receive much support from their new winger Kenny Gregory. Arrived only the night before the United States, the former Manceau did with the means at hand but did not logically that weighed (8 points).

Victor Samnick and Adrien Moerman is even less inspired, the Sluc tried to rely on Jamal Shuler (17 points) in an attempt to erase its chronic deficit in the wings. But it would have taken much to trouble Wednesday as serene as a Fenerbahçe Sluc was the draft.

Wednesday, November 30, 2011

Wall St. rallies on central banks' help for Europe

central bank
Central Bank
(Reuters) - Stocks surged on Wednesday after major central banks agreed to make cheaper dollar loans for struggling European banks to prevent the euro-zone debt woes from turning into a full-blown credit crisis.

The Dow posted its best day since March 2009 after the Federal Reserve, the European Central Bank and other major central banks stepped in to head off escalating funding pressures that threaten the key arteries of the world's financial system.

The S&P 500 scored its best daily percentage gain since August.

The central banks' liquidity move touched off a buying frenzy in financial shares. The S&P financial sector index gained 6.6 percent, with Bank of America the most actively traded stock. The stock jumped 7.3 percent to $5.44 on more than 420 million shares traded.

The drama in Europe kept the U.S. stock market on a roller-coaster ride throughout the month. For November, the S&P ended down just 0.5 percent, but the month was marked by sharp daily swings.

"You don't have to fix everything, you have to be on a path towards fixing things," said Tobias Levkovich, chief U.S. equity strategist at Citigroup in New York.

"Markets will reward you for the efforts you are making as long as you are moving in the right direction. It's the carrot and the stick; you get rewarded when you do the right thing, and you get punished when you do the wrong thing."

The Dow Jones industrial average shot up 490.05 points, or 4.24 percent, to end at 12,045.68. The Standard & Poor's 500 Index jumped 51.77 points, or 4.33 percent, to 1,246.96. The Nasdaq Composite Index soared 104.83 points, or 4.17 percent, to close at 2,620.34.

The Dow scored its largest daily gain -- in terms of points and percentage -- since March 23, 2009.

The S&P 500 posted its best daily percentage advance since August 11.

For the month, the Dow gained 0.8 percent, while the Nasdaq slid 2.4 percent.

Other economically sensitive sectors, including energy, materials and industrials, also were strong performers for the day.

Copper and oil futures rose sharply, while the S&P materials sector index jumped 5.9 percent.

The central banks' actions were intended to ensure that European banks, facing a credit crunch, have enough funding amid the euro zone's worsening sovereign debt crisis.

The moves followed an unexpected cut in bank reserve requirements in China, intended to boost an economy running at its weakest pace since 2009.

Among the banks, shares of JPMorgan Chase & Co gained 8.4 percent to $30.97, its biggest daily percentage gain since May 2009.

The gains in financial shares came despite Standard & Poor's move to cut the credit ratings of 15 big banks, mostly in Europe and the United States, late on Tuesday.

Further encouraging investors, the latest U.S. data suggested the U.S. economy was moving more solidly toward recovery. The U.S. private sector added the most jobs in nearly a year in November, while business activity in the U.S. Midwest grew faster than expected in November.

The day's volume was high, with nearly 10 billion shares changing hands during the day on U.S. exchanges compared with the daily average of 7.96 billion shares.

Advancers beat decliners on the NYSE by nearly 7 to 1 and on the Nasdaq, by about 5 to 1.

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Friday, November 25, 2011

Euro loses vs dollar for fourth straight week

Euro VS Dollar
(Reuters) - The euro fell to its lowest in more than seven weeks against the U.S. dollar on Friday and was poised to weaken further after a disappointing Italian bond auction stoked fears the euro zone crisis was deepening.

Italy paid a record 6.5 percent to borrow money over six months on Friday and its longer-term funding costs soared far above levels that are seen as sustainable. The rise in borrowing costs came even as the European Central Bank bought bonds in the secondary market.

Standard & Poor's added to those worries after the rating agency lowered Belgium's rating by a notch to AA and placed its credit outlook on negative.

Signs the euro zone debt crisis was threatening the region's biggest economies such as France and Germany have raised fears of a breakup of the 17-member currency bloc. Policymakers remained in disagreement over how to resolve the crisis, with Germany opposed to joint euro zone bonds and a bigger role for the ECB.

"There appears to be no credible plan in sight to solve the euro zone debt crisis. It shows that there are legs to the market view that the euro zone might be dismantled," said Joe Manimbo, senior market analyst at Travelex Global Payments in Washington.

The euro fell 0.9 percent to $1.3226, having dropped as low as $1.3210, its lowest since October 4, according to Reuters data.

The U.S. Labor Department's monthly jobs data is due next Friday and if they fall short of expectations, the euro should retrace its four straight weeks of decline against the greenback.

"If we get a negative surprise, that could make the dollar vulnerable," Manimbo said.

Key support for the euro lies around $1.3144, the euro's October low, followed by $1.3045, the 61.8 percent retracement of its 2010-2011 rally.

The euro lost 2.1 percent this week after poor demand at a German bond auction on Wednesday.

Bidding for Italian debt was also lackluster on Friday. Italy's two-year yield rose to a euro-era high above 8 percent and 10-year yields traded above 7 percent, a level that is seen as unsustainable.

"The Italian auction was a disgrace this morning, It was worse than what the market had expected," said Thomas Molly, chief dealer at FX Solutions at Saddle River, New Jersey.

Belgian bonds also succumbed to pressure ahead of auctions next week. The 10-year Belgian government note yield edged up to 5.89 percent on Friday, up 3 basis points on the day and up almost 100 basis points on the week.

Strains in the money market for euro zone banks added to investor concerns. The euro/dollar one-year cross currency basis swap, which widens when lenders charge more for swapping euro interest payments on an underlying asset into dollars, was at minus 104 basis points -- close to expensive levels of minus 115 basis points in late 2008.


The dollar rose versus a currency basket to its highest since early October at 79.702 .DXY as investors raised their holdings of the U.S. currency, undercutting the bids for Swiss franc.

"Unless we see firm action from European authorities, the market is betting the worst is about to happen and the dollar is therefore well bid on demand for liquidity," said Jane Foley, currency strategist at Rabobank.

Against the yen, the dollar rose 0.9 percent to 77.74 after hitting a two-week high of 77.79, according to Reuters data.

The euro hit a seven-week low of 102.46 yen based on Reuters data, before rebounding to 102.90, flat on the day.

The Swiss franc tumbled against the dollar and euro on speculation the Swiss National Bank may raise the ceiling on euro/Swiss franc from the current 1.20 level.

The dollar last traded up 1.2 percent at 0.9308 Swiss franc after approaching an 8-month high at 0.9330. It was on track for a gain of 1.3 percent this week, its fourth straight weekly advance.

The euro rose 0.4 percent to 1.2315 francs, after hitting a session high of 1.2380.

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Sunday, November 13, 2011

Hugo Chavez: the U.S. and the EU "infiltrate terrorists" in Syria

Hugo Chavez
AFP - Venezuelan President Hugo Chavez Sunday slammed the attitude in the Syrian crisis of the United States and the European Union, which he said "redouble their offensive against Syria" and "infiltrate terrorists" there. Chavez made the remarks during a speech to several thousand supporters gathered in central Caracas. Was the first time taking part in such a public gathering since he was treated for cancer. "The United States and its European allies redouble their offensive against Syria, infiltrate terrorists to generate violence, blood and death, as they have done in Libya earlier this year," he told Mr. Chavez, leader of the radical left in Latin America.

"A bombs, they managed not only to overthrow the Libyan government, but also to destroy this country and assassinate Colonel Muammar Gaddafi (...) and now they are Syria," said the Venezuelan president. Chavez, who was a strong support of Colonel Gaddafi, has strongly condemned from the beginning the military operation in western Libya. He described as "killing" the death of Colonel Gaddafi, who died in suspicious circumstances after being captured by rebels after an air strike against its NATO convoy. In Syria, President Bashar al-Assad is facing since mid-March to suppress an uprising that hard. According to the UN, the repression has more than 3,500 dead.

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Saturday, November 12, 2011

Two gays married in Roussillon to advance their cause before 2012

Two gays married in Roussillon
AFP - The Communist mayor of Cabestany (Pyrénées-Orientales) Saturday celebrating the union of two men with the intention to impose the political campaign of 2012 the issue of legalizing gay marriage in France. No gay marriage have been officially recognized in France, unlike other countries, there will be a symbolic union, or a birth certificate will be established there, at the risk of invalidation later? "This marriage will be free of any cancellation, you will see on Saturday," answered Jean Vila, mayor of this town adjacent to Perpignan.

Former MP keeps the mystery about what would make this marriage unassailable. The only gay marriage to date has been celebrated in 2004 by Noel Mamere, Mayor ecologist Bègles (Gironde), but it was annulled by the courts. "We get married because we love each other, but also a militant act," announced the future spouses. William is a painter for 37 years. Patrick, 48, runs a photo lab and is the father of a girl born 22 years from a previous marriage. They decided to publicize their efforts to "very soon in France, two same-sex couples can legally marry. We are citizens like any others." Both from Nîmes, where they met eight years ago, they live in Paris, where they work, and Cabestany, where they spend their holidays.

If they chose to exchange Cabestany consent and alliances because they had heard that the mayor was favorable to their cause. For the mayor, "there are times you have to be off-the-law". "I appeal to all mayors to commemorate gay marriage is a struggle of society that are needed to advance the schmilblick. It is said that France is a modern, forward edge, but we will be the last European country to legalize ", after the Netherlands, Belgium, Sweden, Spain and Portugal. "It's courageous. It is a strong signal that we send the mayor of this town," welcomes Gougain Nicolas, spokesman for the gay interassociation lesbian, bi and trans (Inter-LGBT). This reveals "the archaic French law and the need for legislation."

Counsel Mécary Caroline, who entered in 2007 the European Court of Human Rights on the marriage of Bordeaux, the mayor may inscribe the marriage in civil registry official. "If he does, that's fine. Otherwise, it will be a good way to challenge the political class", as was the case with a symbolic marriage celebrated in Montpellier in February, she said. "If there is a change of government in 2012, she said, Europe Ecology and PS are already agreed to file a bill to open civil marriage to all, heterosexuals and homosexuals."

In January 2011, the Constitutional Council, a priority issue of constitutionality (QPC) on the initiative of a couple of women PACS, recalled that "under French law, marriage is the union of a man and a woman "and left to the legislature to change the law or not to allow gay marriage. Proponents of this union have since carried their hopes on the 2012 campaign.

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Friday, November 04, 2011

Sarkozy praised Obama covers a prime time

AFP - U.S. President Barack Obama Friday highly praised his French counterpart Nicolas Sarkozy and exalted "the long-standing friendship" between Washington and Paris, in an interview published crossover novel to prime time, newspapers the nightly TV TF1 and France 2. The two presidents were installed for the occasion in the municipality of Cannes, a city which hosted Thursday and Friday as a festival hall the G20 meeting, the annual forum of the twenty largest economies, this year phagocytosed by the debt crisis in the euro area including Greece. MM. Sarkozy and Obama attended the G20.

"Given the fact that we worked together, Nicolas and I have excellent relations, we have always had. This follows from the fact that we share responsibilities, we are fighting the same in a very difficult time," Obama said. He said: "Nicolas has always been an open partner, who works a lot with a lot of energy. Whether on economic issues, issues related to safety, it was an absolutely essential partner". The U.S. president also assured that "we could not have succeeded in Libya without the leadership of Nicolas and NATO, we would not be in a position so strong in Afghanistan without the leadership of Nicolas Sarkozy as well as other partners in our coalition. "

"Nicolas Sarkozy" is someone who has lots of energy, and someone who does not like losing, so it will give that power to any campaign possible, "he thought Obama about his counterpart which, in all probability should be a candidate to succeed himself in 2012. He did not, however, mentioned that he was himself a candidate for re-election, to one year in the U.S. presidential election of 2012 . The relationship between France and the United States goes "beyond the relationship between the two leaders" and "Americans have a huge respect for the longstanding friendship between our two countries," Obama said .

President Sarkozy is also full of praise to his U.S. counterpart, "a man can be convinced" and "a brave man." "The friendship between France and the United States is crucial but friendship is not only the good times," said Sarkozy. Mr Sarkozy has been particularly welcomed the fact that Obama is, he says, "the first president of the United States to take a step towards a taxation of financial players. I am grateful," he said.

Thursday, November 03, 2011

Greece focuses the concerns of the G20

barack obama
The Greek crisis and the possibility of an output of Athens in the euro area have dominated discussions at the first day of the summit of the G20 countries in Cannes. The day ended with a press conference by French President Nicolas Sarkozy. He felt that the message Wednesday night by Germany and France to Greece on his proposed referendum had allowed a "consciousness" which, "if it is confirmed, would be welcomed by everyone." Parallel to statements by French President Angela Merkel has warned it expected Greece's actions rather than ad: "For us, it is actions that count." For her, the stability of the euro is indeed a higher priority as ensuring the maintenance of Greece in the euro area.

During the day, Greek Prime Minister George Papandreou suggested that his plan to submit to referendum the bailout of the euro zone could be abandoned. After negotiations within the government, Mr. Papandreou would eventually agreed to démisionner, under pressure from his Finance Minister, subject to obtaining the confidence of Parliament on Friday. >> Read our lights: Greece Can get out of the euro area? U.S. President Barack Obama devoted part of his discussions with his counterparts in French and German, as a prelude to the opening of the summit, the crisis in the continent. "The most important aspect of our work over the next two days is to solve the financial crisis here in Europe," he said.

At its press conference, Nicolas Sarkozy also reiterated his confidence in the strength of the Italian economy, threatened with contagion. He said he "noted with interest" the new anti-crisis measures that the country has made on the sidelines of the G20, adding: "I would say my confidence in the Italian economy, which is one of the strongest economies in the world. C is the third largest economy in Europe, perhaps the seventh or eighth largest economy in the world. Italy is a truly remarkable tradition of entrepreneurs. " The Italian Prime Minister Silvio Berlusconi came to the G20 without being able to validate the anti-crisis measures by the government, tried to reassure his country's ability to repay its debt.

According to a draft action plan for growth discussed at Cannes, Italy is committed to approaching a balanced budget in 2013 and rapidly reduce its debt ratio to GDP from 2012. At about 120%, the ratio of debt to GDP in Italy is the largest of the major European countries. "There are now discussions [G20] to erect a firewall around countries such as Italy and Spain", for his part, said an Indian official. >> Read our lights: debt crisis: how Italy got there? * Emerging markets and the question of changes in a draft final communique obtained by Reuters, indicates that the G20 is working on the establishment of an international monetary system (IMS), which would better reflect the weight of emerging economies.

The group also agreed on the need to adjust the basket of special drawing rights (SDR) of the International Monetary Fund (IMF) to better reflect the changing roles of currencies. This adjustment could be a step towards better integration of currencies, as the Chinese yuan. However, the draft statement says nothing greater flexibility of exchange rates requested by the United States but opposed by China.

The United States, and to a lesser extent Brazil, pushed for the adoption of a stronger vocabulary, equivalent to an implicit commitment of China to move faster to a flexibility of its currency, the yuan. Like last year in Seoul, China seems determined to resist pressure and to defend the management at their own pace in the exchange rate of the yuan. With the uncertainties that collect around the euro area and the desire of Europeans see China contribute to their emergency fund, the risk is that the issue of currency does not move. According to sources from emerging countries, the G20 should be satisfied with the words of the communiqué of the G20 Finance held last month in Paris.

At this summit, the G20 finance ministers had simply agreed to continue "their efforts to move towards systems of exchange rates determined more by the markets and achieve greater flexibility in exchange rates to reflect economic fundamentals ".

The G20 will accept in its final communiqué, a possible increase of IMF resources by the willing. "States that so request, to the fall of 2012, bilateral increase their participation in IMF resources," said a source close to the negotiations. The fund's resources have been increased by an agreement approved a year ago, through a permanent doubling of contributions of member states, the "quota". This Agreement shall enter into force as nominally one year, but we need a sufficient number of national parliaments ratify it. Meanwhile, member states have provided temporary resources to the IMF through the "New Arrangements to Borrow." It is intended to remove this temporary resources when the increase of their contribution will be permanently effective.

In addition, the final communiqué should mention a new SDR allocation, a kind of international reserve asset of the IMF. An SDR allocation is a distribution of the assets created for the occasion, the Member States of the IMF, which fuels their foreign exchange reserves. British Finance Minister, George Osborne, confirmed that the G20 was discussing an increase in IMF resources. "The international community agrees that tackling the global economic situation, and there is a debate that has begun but not completed, on how to increase IMF resources," he said. Moreover, the IMF is going to get the creation of new precautionary credit lines and cash. These are loans to help countries, particularly emerging to deal with shocks in a hurry without being subject to formal programs of the IMF, with the strict conditions they imply.

In addition, the final communiqué should mention a new SDR allocation, a kind of international reserve asset of the IMF. An SDR allocation is a distribution of the assets created for the occasion, the Member States of the IMF, which fuels their foreign exchange reserves. British Finance Minister, George Osborne, confirmed q * The tax on financial activities back in discussions G20 leaders should discuss the creation of a tax on financial activities. A subject on which the Europeans encountered the reluctance, if not the opposition of many of their partners in the G20. On this point, Nicolas Sarkozy praised the "understanding" of Barack Obama on this issue and reported a "joint analysis" on the need for a "contribution to the world of finance" to solving the financial crisis and international economic.

News by Lemonde
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Saturday, October 29, 2011

Euro-2012: Lviv opens a new stage topless protest

hot pics
Topless Protest

AFP - The Ukrainian city of Lviv (West) opened Saturday a stage of more than 32,000 seats to host matches of Euro 2012 co-hosted by Poland and Ukraine, a ceremony marred by the arrest of two activists topless. Two activists of the Ukrainian movement FEMEN, used brilliant shots, protested topless with an inscription "F. .. Euro" on their bodies at the entrance to the VIP box, chanting "Ukraine will lose". They were quickly arrested, said a journalist from AFP.

Ukrainian President Viktor Yanukovych considered pro-Russian and unpopular in Western nationalist visited the stadium the day before but decided not to attend the ceremony where the organizers have waited until the last minute. Video broadcast address after the dance of children in costumes was was booed by the audience. The cost of this stadium built since 2008 with an area of ​​243,226 m2 and will host three matches of the Euro-2012 is 2.2 billion hryvnias (201 million). Some 2,000 spectators attended the opening ceremony that Anastacia sang the American and Ukrainian Ruslana who won the 2004 Eurovision Song Contest with the song "Wild Dance" (Dance wild).

UEFA has long expressed concern about the slow pace of preparations in Ukraine. During his last visit to Ukraine in late September, the UEFA President Michel Platini has said, however, "completely reassured," noting "small problems" to solve, especially with regard to infrastructure development necessary for the Euro to be held from 8 June to 1 July 2012.

Thursday, October 27, 2011

Sony buys Ericsson out of mobile phone venture

sony ericsson
Sony Ericsson
(Reuters) - Sony Corp is to take over the Sony Ericsson mobile phone joint venture for 1.05 billion euros ($1.45 billion), as it seeks to catch up with smartphone and tablet makers Apple and Samsung.

The deal to buy out its Swedish partner gives Sony ownership of certain handset patents held by Ericsson and will enable it to integrate the joint venture's output with its own range of products and content.

"Its the beginning of something which I think is quite magical," said Sony's chairman and chief Executive Sir Howard Stringer.

"We can more rapidly and more widely offer consumers smartphones, laptops, tablets and televisions that seamlessly connect with one another and open up new worlds of online entertainment."

Until now Sony's tablets, games and other consumer electronics devices have been kept separate from the phones sold and created by Sony Ericsson.

"Sony is looking to do the same as Apple and meet user's demands through linking various devices with similar interfaces and operating systems," said analyst Nobuo Kurahashi of Mizuho Investors' Securities in Tokyo.

"Since television sales are set to fall smartphones look to become more important products for Sony since their sales are rising globally and they will probably become the main device people use to connect to the Internet."

Smartphone sales have been surging since Apple launched its first iPhone in 2007 and despite a slowdown in the overall consumer electronics market the strong demand for smartphones is expected to continue.

The takeover of Sony Ericsson by the Japanese group had long been talked of, and a source with direct knowledge of the matter told Reuters this month that a deal was in the offing.

"Sony now has all the components to compete with Samsung and Apple. The big question now is ... can it execute ?," said Pete Cunningham of industry consultancy Canalys.

"Based on history I am skeptical but I would not say it cannot be done," he added.

Founded in 2001, Sony Ericsson last year took around 2 percent of the global cellphone market with sales of 6.3 billion euros and employs some 7,500 people. Initially it thrived with an array of camera and music phones but then lost out in the smartphone race.

"Sony had to make this deal as it had run out of options, but integration challenges could prove to be a major hurdle," said Ben Wood, head of research at London-based mobile consultancy CCS Insight.

"As a major consumer electronics player lack of mobile assets had become a liability for Sony, particularly when compared with Samsung, whose telecommunication business creates nearly half of its profits," he said.

Ericsson said the deal provides Sony with a broad intellectual property cross-licensing agreement covering all the Japanese company's products and services as well as ownership of "five essential patent families relating to wireless handset technology."

"The only value Ericsson added to the venture was patents," said Cunningham.

However, in comparison Nokia, the world's largest cellphone vendor by volume, controls some 10,000 patent families.

Shares in Ericsson, whose main strength lies in its wireless network equipment business, were up 5 percent at 70 crowns by 1024 GMT.

($1=0.724 euros)

Euroleague Basketball: Nancy already under pressure

AFP - After initial setbacks Cantu (69-80), Nancy no longer has any room for error against Bilbao, received Thursday (20.45) during the second day of the Euroleague Basketball Men -ball. With eight games still to play after this one, it might seem premature to speculate on the future and the champion of France. The Sluc have ample time to recover from the first two defeats. Yes, but here it is: Cantu and Bilbao are a priori the two teams are relegated to the locals as behind to hope to become the first French team since Pau-Orthez in 2007, reaching the Top 16.

Other clubs in Group A, Fenerbahce, Olympiakos Vitoria and seem well above the rest. Although the Greeks have done something wrong last week in ... Bilbao, winning 76-61. The indication that this is not a small team that comes Thursday night in Lorraine, while Bilbao is participating for the first time in the Euroleague. The Basque club last season reached the final of the Spanish Championship, after having eliminated Real Madrid in the semifinals, and had only yielded to the great FC Barcelona, ​​with no demerits. "Bilbao is now even better with the arrival of new players, good players who have experience in the Euroleague. After their victory against Olympiakos, who can doubt of their potential," says coach Nancy Jean Luc Monschau.
While inside the Belgian Axel Hervelle, injured his knee before the Euro in Lithuania, is hardly restored and should leave a few minutes from the bench, the team coached by Greek Fotios Katsirakis has many other advantages . 

Always dangerous offensively, Spanish winger Alex Mumbrú should provide an interesting challenge to Nicolas Batum. Croatian winger Marko Banic, MVP (best player) of the Eurocup in 2009-2010, was the leading scorer (23 points) against Olympiakos. But Nancy shall not overlook another player, who had many hardships to the team of France in the Euro: the leader of Latvia Janis Blum, author of 32 points against the Blues. To beat the Spanish, Nancy must first be more regular than Cantu. In Italy, he managed the first twenty minutes of top flight. But Cantu had then found a way to slow the tempo of the match and were locals as runaway.

"We're a little disappointed because we had the means to beat them at home," observes Adrian Moerman. "But you learn ... There is still a little young in the Euroleague." "It will lose less balls (20 to Cantu, Ed) and play better in the second half," takes the power forward. The private Sluc will always be the young pivot Abdelkader Sylla. Injured left wrist, it is still available for two weeks.

Saturday, October 22, 2011

Sarkozy and Merkel meet before the EU summit.

France, Europe
 AFP - The Europeans are working on a comprehensive overhaul of the second aid package to Greece through a substantially increased effort creditor banks to avoid bankruptcy at Athens in the marathon negotiations underway to rescue the euro area. The day Saturday is loaded. In addition to a meeting of finance ministers of 27 EU countries, French President Nicolas Sarkozy and German Chancellor Angela Merkel will try to overcome their differences in the evening on the response to the debt crisis in a mini-summit in Brussels with several other key players.

A countdown is committed to exit the euro zone crisis that has lasted two years and worried about the world. It should be completed Wednesday with a summit of 26 leaders of EMU, the second in a week. It should be "a complete solution to the crisis. We have had enough of short-term measures that were used plaster to take a few weeks," Saturday criticized the British Minister of Finance, George Osborne. His Belgian counterpart Didier Reynders said the discussions would turn "on a new Greek plan." "In this new plan, there is a substantial effort to Greece again, there is an effort by European countries and will also require an effort of the private sector (ie banks)," he said on the sidelines of the ministerial meeting.

The central bankers of the euro area have already agreed on Friday to request further efforts "substantial" the banks said their leader, the Luxembourg Jean-Claude Juncker. Given the scale of the task, they should meet again Saturday afternoon to continue their work. Their condition: that banks are willing to delete "at least" half of the value of Greek debt they hold, against 21% initially planned for July. "Negotiations with the IIF (the banking lobby) continue, there is no agreement yet," said a source close to the Saturday issue. But "the working hypothesis the most central in discussions with the banks" is that of a haircut (loss by financial jargon) of 50%, she said.

The euro area came to this conclusion based on the findings of an expert report submitted by the troika that brings together donors of funds to Greece. The paper estimates that banks have to accept losses from 50 to 60% for Greece hope to stabilize without excessively increasing the amount of international loans that have already been promised. The challenge is for Europeans to get the green light for banks, or risk creating a "credit event", or the outbreak of insurance against default risk in Greece. Such a scenario would favor those who have speculated about the fate of Greece and especially likely to cause a domino effect throughout the euro area with possible contagion to Italy and Spain.

In return for the effort required on the part of banks, finance ministers from the 27 floor Saturday on a broad plan to recapitalize the banking sector to enable it to cushion the blow. Europe is assessing the needs of 80 to 100 billion euros, two times less than the estimates of the International Monetary Fund, who first sounded the alarm on the need to strengthen the reserves of financial institutions of the Old Continent. Modalities remain to be defined: what is the timetable? Recapitalizations of private or public funds?

For their part, German Chancellor and French President will try in the evening with their respective finance ministers to resolve their differences on how to stem the debt crisis, at a meeting involving both the main European leaders: the EU president, Herman Van Rompuy, the European Commission, José Manuel Barroso, the ECB, Jean-Claude Trichet and Juncker. This will be a lap before the EU summit on Sunday. Blocking is primarily how to strengthen the relief fund troubled countries in the euro area, the EFSF. This instrument is essential to prevent contagion of hope to the debt crisis in countries like Spain and Italy, in the viewfinder of the rating agencies.

Paris has proposed to transform the EFSF bank so that the counter is supplied by the ECB. One option that will not block the Berlin Mint, as it would violate their view the legal prohibition against the central bank to bail out government budgets. France, supported by Spain and Italy in particular, suggested Friday that it could eventually yield. But the subject is not yet evacuated. "We will discuss the European Facility (the EFSF) and its collaboration with the European Central Bank (ECB)," Mr. Reynders said Saturday.