Next Gen News

. The involvement of the United Kingdom of ? 200 million in loans from the IMF to save the euro could reach £ 30 billion

. Italy refers to ? 3 billion to 6 , 47%, the euro was high

. Euro falls below $ 1.30 . Today's agenda

. blogs live TODAY 'Today: Graeme Wearden

4:48 p.m.

Another day of heavy losses on stock markets in Europe which has just ended.

The FTSE 100

closed 123 points in 5366 to 2.25%.

is their biggest daily drop since November 21, wiping £ 32m off the value of the index of blue chips.

markets of France

CWC down 3%, with Italian

FTSE MIB

fell 2.8%.

London selloff was led by mining stocks, which suffered a decline in commodity prices today.

The price of gold fell by 4%, while silver was down 7%.

Yusuf Heusen, sales trader IG Index, said that there was little festive mood in the city (especially after the US Federal Reserve took no action to stimulate the U.S. economy overnight new above):

Stock markets continue to reel in
the combined effects of hits no more QE by the Fed and the current concerns about the saga of the debt of the euro area. What had been a relatively mild cancellation of London seems to have gained ground in the back of sales across the Atlantic and the fact that the prices of precious metals are under fire, with a weight of a number of London mining trucks.

4:37 p.m. The feeling of the city is that the AAA rating of France is almost as likely that half of Turkey, and is ready to start.

Alain Juppé

, Foreign Minister of France, has done little to correct this vision today when he said Echos (French newspaper) that the loss of the AAA rating would not be a disaster.

Juppe, said:

obviously not good news, but both would be catastrophic.

an admission that the reduction of the pulp are not enough?

If the credit rate cut hard to think of France as the European Financial Stability Fund (the vehicle that raises funds for Greece, Ireland and Portugal) would keep its AAA rating itself the same.

For bond markets, France is really not to be treated as a nation AAA. His return to 10-year bond is now 3.22%, compared to 1.93% of German bonds (Reuters data).

4:20 p.m.

Austerity gets serious in France - The Ministry of Finance canceled the Christmas Petits fours

French Budget Minister Valérie Pécresse said today in Paris as the guests of the governing parties over the holidays would do with Cookies humility. Christmas cards were also canceled in favor of e-cards, as the French ministries seek to set a good example.

Pécresse

explained:

Obviously, in this time of budgetary constraints and extreme crisis, the government must reduce as much as possible.

guess pasta is not cheap, but still. It is reminiscent

Economy Unit

a classic Yes Minister

Episode

(watch a clip here). [New link, since the original appeared to destroy the boss of the computer badcareermove #]

4:11 p.m. Ian Traynor, our European editor, says Merkel comments Great Britain is an important member of the EU are the latest efforts diplomacy to repair the breach between the United Kingdom and Germany:

Offers

Merkel a truce reflected signals on the side of the British government Cameron was opened to traffic in an attempt to repair the damage

made in Brussels.

Ian also notes that the euro rescue plan agreed at the summit last week now faces several obstacles, regardless of veto Cameron:

reassess the summit has the firepower of the relief fund in the spring, hoping to expand the Warchest. Merkel said Wednesday that could block it.

Another key element of an agreement to boost the International Monetary Fund Background

through 200 million in bilateral loans from the EU central the banks also had problems.

Jens Weidmann

, head of the German central bank has threatened to boycott

motion unless the IMF can contribute euro area and the United States and Britain also granted additional loans. In a letter to German

Finance Minister also stressed that the German contribution

43000000000

must be approved by the German parliament.

3:57 p.m.

Angela Merkel

warning that there is a fast and Easy eurozone crisis has been blamed for promoting actions and the euro in the afternoon. In reality, however, seems to be just saying the obvious (such as details of the "tax deal" agreed last week not even agreed several months).

Walter Todd, co-chief investment manager at Greenwood Capital, told Bloomberg this afternoon that investors understand that "the crisis of Europe will not be solved overnight." He said:

Merkel is in a difficult situation. It is to get a lot back in Germany from what it offers. She has to balance that with that comes with a viable solution.

really no place for companies to be aggressive on the outlook for 2012 because there is so much uncertainty out there.

3:34 p.m.

He promised more details Angela Merkel

's talk the Bundestag today, so here goes.

German Chancellor offered

David Cameron an olive branch because of his veto last week. Although Merkel said he regretted the move, she insisted it was "no doubt" that Britain will remain an important partner of the EU.

Britain, said Angela Merkel, is as follows:

a reliable partner for Europe not only in foreign policy and security ... [It] is also a partner in many other questions -. Competitiveness in the market to trade for climate protection

Merkel was pretty clear that the crisis is not fixed soon, telling members that "What is crucial is not the length, what is crucial is whether we allow setbacks to discourage us or not. "

But he also stressed that the euro area over time would be saved by the prosecutor and the stability of the union which was conducted to for months:

of Europe out of this crisis stronger than when they entered.

as Cameron, Merkel is facing some problems within his own coalition. Today, a leading figure in German Free Democrats (the junior partner in Merkel's administration), unexpected in a sign that the crisis of leadership of the party is growing.

the resignation of Christian Lindner, general secretary of the FDP, is suspected of being linked to a referendum of party members in the movements of the euro zone rescue.

According

Reuters

Power Coalition, said he wanted out of Lindner

beleaguered President Philipp Roesler FDP by throwing a grenade fire your boss, which is under attack by the persistent weakness of opinion polls and the mismanagement of the referendum.

Confusion in the FDP could cause instability of the coalition of Angela Merkel, despite the forthcoming elections are not expected before 2013. Speculation is growing that the FDP is discharged back Roesler and veteran parliamentary leader of ground Rainer Brüderle, 66.

3:12 p.m.

There are few signs of holiday cheer in the city today. Instead, we talk about the failure of markets, a credit freeze, and rumors of troubled banks to finance themselves.

Louise Cooper

, Market Analyst BGC star said in a note today that the economic stress "destroy the euro area" to build .

want to look in the credit markets and wholesale rates, I see no signs of stress. Many of these markets are not functioning properly and that the actions of central banks to ease strains in interbank markets are having little effect. Politicians must start focusing on these markets as fully grasp, then the fact of the banking system. The credit crunch that has led a devastating economic crisis.

Cooper cited the rising cost of insurance of public debt (through credit default swaps), and bond yields dangerously high (10 years in Italy, the performance is even more 7 %).

addition, the European Central Bank lent ? 8 billion of funds for "emergency" to one or more banks last night.

This suggests that this is not a bank that has not made correctly and that their are found at the end of the day is a little short. This suggests that the bank may be self-financing troubles (hence, all the rumors).

15:00:

with the euro at a minimum of 11 months against the dollar, this graph to show how the euro was steadily declining against the dollar this week.

recently Many readers have wondered why the euro fell in value this year. It seems that international investors remain optimistic that a global agreement to fight against the crisis in the euro area has been agreed - but this faith is a leak

editor Larry Elliott Our economy has written a good article about it yesterday, explaining how certain currencies (for example, the Indian rupee) are suffering as investors seek "safe haven".

14:45: Latest

all. The opening bell on Wall Street began to sound like a mess in my head - and the share to remain under pressure in early trading. The

Dow Jones Industrial Average

decreased by about 0.67%, or 80 points to 11,874 in the first minutes, as fears continue to weigh on the euro in New York.

The euro continues to Bob around $ 1.2975, something like a rubber duck threatening to slide down the drain. Experts fear that the currency is the euro fell below $ 1.30 this morning.

Kathleen Brooks

, research director at Forex.com, said he scored two things:

First, the debt crisis has increased and also the feeling to the market of the euro on the basis of assets has taken a turn for the worse.

The euro also fell against the pound today, hitting a book 83.71pa.

While we are district markets, the FTSE 100 is also deeper in the red zone -. Up to 88 points, 1.6% in 5402

14:30:

well, that's me.

Graeme Wearden

takes over.

2:03 p.m.

More news from Lloyds - the bank announced that the

Cooperative won the race buy the 600 branches of Lloyds

Currently in exclusive negotiations to sell the branches of the Cooperative

to happen - at least not because journalists can not resist a reference to Scrooge Commerzbank, said they had been in talks with the German government on state aid, has canceled a Christmas party, or rather the division of markets and companies has, reports the Wall Street Journal.

"The party is not in harmony with the spirit of the times," said one employee.
"Saving is the new slogan of the bank," said another.

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