The fee will rise to 0.1% of the value of acquiring the shares. It must take effect in August.

Are concerned the major listed companies headquartered in France, "whatever the place of completion of the transaction."

The amount of another tax, which will focus this time on purchases of credit default swaps (CDS) sovereign "naked", will amount to 0.01% of the notional amount of the contract.

The text also plans to tax the transactions of high-frequency trading.

For the latter, the tax will amount to 0.01% of the amount of orders canceled or changed beyond a threshold may be fixed by decree. This threshold "can not be less than two-thirds of orders addressed and can be modulated depending on the size of balance sheet of the operators concerned," we read in the text.

To avoid penalizing the financing of companies and states, the obligations are not affected by these new taxes.

The government hopes these measures will yield one billion euros in a full year.

MORE EXEMPTIONS

The published document is described by BFM Business as draft article to be included in the draft amending budget presented Wednesday by the Cabinet.

Without commenting directly on this document, a source at Bercy said the bill was forwarded to the Council of State and it was not final. 

The document states that the tax on stock purchases is due on the first day of the month following the acquisition.

For 2012, the tax must be paid before November 30 for purchases made between August 1 and October 31.

Several exemptions are provided, especially for market-making activities, purchases made through a share issue, the operations performed by a clearing house or the acquisition of shares between companies within the same group.

The tax on sovereign CDS bare "applies to any purchase by an enterprise carried on in France," it reads in the text.

This tax will not be due if the taxpayer holds a long position in the debt of that State, he said. 

Again, the market-making operations are not affected.

As for the tax on high-frequency trading, it is clear that it will not affect the systems used to optimize the conditions to execute orders or to route orders to one or more trading platforms or affirm those orders.

These funds would supplement the effort to prepare to make private creditors of Athens by accepting a discount of at least 50% of their Greek bonds and would the country to reduce its debt to about 120% of its gross domestic product by 2020.

"This is mainly because of the need to recapitalize banks after the Greek private sector participation (in the debt restructuring)," said one source. 

Last October, members of the eurozone pledged to contribute up to EUR 130 billion to help the new plan, designed to take over a first program of bilateral loans of 110 billion euros agreed in May 2010.

The Nikkei lost 62.08 points to 8,988.39 and the Topix, larger yielded 7.37 points (0.96%) to 764.06.

The Bank of Japan intervened in foreign exchange markets to counter speculation that makes the yen to rise and threatens to seal the country's recovery after the earthquake of March, announced the Minister of Finance Jun Azumi.

The Nikkei took up 1.1% immediately after the announcement, which reduced the yen against the dollar, and some investors doubted that the yen could remain permanently low, took the opportunity to pocket their profits.

Honda Motor, Toshiba and Panasonic have lost respectively 3.68%, 3.86% and 2.06%, while their results were expected after the close. The three exporters are not only affected by the force of the Japanese currency but are in addition to their production in Thailand affected by the floods.

Originally scheduled for Saturday afternoon, a decisive meeting of the board of the group was delayed until Sunday to give negotiators more time.

Belgian Prime Minister in charge of current affairs, Yves Leterme held talks in the morning by telephone with the head of the French government said on around him, while advisors from both countries met in Paris.

The finance ministers of both countries, Baroin and Didier Reynders, should discuss the matter later in the day, sources said in Brussels, which could take an inter-Belgian.

No comments could be reached immediately on the case in Paris.

The rating agency Moody's has increased pressure on the Belgian camp Friday night: it has placed the sovereign rating of Aa1 by explaining kingdom under surveillance will include assessing the costs and liabilities that the state could play in supporting Dexia.

The dismantling of the group could indeed go through a nationalization of the Belgian branch, Dexia Bank Belgium (DBB), which specializes in bank deposits.

One solution put forward in recent days by the interim government in Brussels but which opposed the three Belgian regions, which owns 5.7% of the group and who wish to retain a role in financing local governments.

Both sides, however, are closer to a compromise in recent hours, officials said a source familiar with the matter.

The Belgian daily L'Echo reported previously that the nationalization of DBB may be followed by a holding areas at a future capital increase of DBB.

LOAD difficult to allocate

The Echo adds, however, that the track of a redemption of DBB by a foreign bank is being considered and said that several institutions have expressed interest, including Deutsche Bank, Rabobank, Crédit Mutuel and BBVA.

Another key point of discussion: the distribution of the financial burden of dismantling between Belgium and France, whose participation combined with that of the Caisse des Depots (CDC) is around 25%.

Yves Leterme and Didier Reynders warned Thursday the French government that Belgium would not only burden.

The two countries should agree on such funding guarantees to provide for the financing necessary for the liquidation phase of a bond portfolio valued at 95 billion euros.

According to L'Echo, France keen to maintain its AAA rating, "defends a 60/40 split or 65/35" instead of the theoretical equilibrium 50-50 on the basis of the current distribution of capital."Belgium is not hostile," the daily.

Friday, François Fillon announced that the Deposit would release three billion euros to finance the French local authorities until a new entity formed by the Deposit and Consignment Office (CDC) and the Postal Bank takes over Dexia.

Before the board of directors of Dexia, Nicolas Sarkozy at the Elysee Palace has received the Director General of the International Monetary Fund, Christine Lagarde. It did not comment after the meeting.

The French president is scheduled to visit Sunday in Berlin for talks and a working dinner with Chancellor Angela Merkel before the summit of the euro area of ​​17 and 18 October and the G20 in Cannes on 3 and 4 November.A bilateral meeting during which the larger issue of the recapitalization of banks in Europe should be addressed.

Representatives of international donors in Greece (EU-ECB-IMF) urged Friday to the Minister of Transport on the need to deregulate transport, including taxis, said the Greek press agency Ana (semi-official ). The delegation, called Troika, and the minister, Yannis Ragoussis, also discussed the planned restructuring of public transport in Athens, and railroads, committed to a partial privatization, said the Ana.

After the meeting, held behind closed doors in a local government, Mr.Ragoussis agreed on the need "not to yield to the demands corporatist," referring to the mobilization since the summer of taxi owners against the liberalization of their profession, explicitly demanded for months by the troika. The meeting, scheduled before the Ministry has been postponed until mid-day, due to a manifestation of thirty employees who were blocking the entrance of the premises, protesting against the measures provided for compression of the public sector.

Friday morning, following the return of the troika in the country to endorse austerity measures announced by the government hopes to secure the release of the sixth tranche of the loan granted to the country in 2010, other ministries, including Finance and Environment, remained "occupied" by officials who are protesting against the austerity imposed. The talks with the troika M.Ragoussis occur before the next parliamentary scrutiny of the bill opening the taxi industry to competition. The measure provoked the ire of the owners of small employers who refuse to enter the market of large corporations. The tug-of-war between taxis and the government has been ongoing since the summer, with series of strikes that disrupted traffic and hinder tourism and urban services. The final took place on Wednesday and Thursday as part of a strike by public transport in Athens, which has completely paralyzed the capital.

For their part, employees of companies of buses, trolleys and trams have been involved in the strike to protest against lay-off thousands of employees of public companies under the government as part of fiscal austerity .The auditors of the troika had left Athens on September 2 after finding a new slide in the Greek government accounts, to allow time for the Government to take additional measures designed to meet the objectives of reducing the public deficit.

The troika, consisting of Matthias Mors representing the European Union, Klaus Masuch of the European Central Bank (ECB) and a representative of the International Monetary Fund (IMF) must also meet Friday afternoon with Finance Minister Evangelos Venizelos. Another thorny issue to be discussed, the implementation of measures laid off in the broader public sector, covering 30,000 employees by the end of December.This subject, which was initially included in cabinet Thursday, is on the agenda of an extraordinary cabinet meeting convened by Prime Minister George Papandreou on Sunday on the eve of a meeting of finance ministers from the euro area in Luxembourg.

Greek Prime Minister George Papandreou would meet with French President Nicolas Sarkozy in Paris on Friday to discuss the plan to end the crisis, said on Thursday a source close to the case in Athens. France is one of the main funders of Greece, with Germany, which was Tuesday Papandreou, who met with Chancellor Angela Merkel. The Chancellor said it was awaiting the findings of the audit conducted by the troika of the country's creditors, representatives of the EU, the ECB and IMF, who arrived Thursday in Athens to whether there should or not renegotiate the terms of the second international aid plan decided on July 21 in Brussels by the euro area.

"Should we renegotiate, or not renegotiate? We would prefer of course that the figures remain unchanged, but I can not predict (the outcome of) the troika," said German Chancellor Wednesday in an interview with Greek state television NET . "We were obviously disappointed that apparently the numbers (the Greek budget deficit, Ed) in September were not as they should be. So we must wait and see what conclusions the troika arrives, the mission experts, what it tells us, "said Merkel.

For its part, the French Minister of Economy, Baroin said Wednesday evening that there was "no alternative" to the background, being ratified in several countries in Europe. "We have a plan" and "yes, France will continue to support the strategy of support" to a partner in the euro area, saidBaroin to the public television channel France 2. "This is the only strategy," he said. "There is no alternative to the declination of the agreement of July 21" and "there is no alternative to the implementation" of the European emergency fund, the EFSF, he said.

The plan, according to the French minister, will "ensure and support measures over time and measures to prevent contagion in large countries such as Spain and Italy." The European Agreement of 21 July expanded the toolbox of EFSF, which was established in 2010 to help countries in financial difficulty.It provides support some 160 billion euros to Greece to avoid bankruptcy, and most importantly, for the first time, the involvement of private banks in the rescue process, which agreed to voluntarily participate in an exchange program bonds when they lose 21% of their implementation, to avoid losing everything in case of bankruptcy of the country. Heads of Mission of the troika comprising the three main creditors of the countries (EU, IMF and ECB) are scheduled to resume Thursday in Athens their audit of the accounts of Greece after almost a month break.

The composite indicator of consumer confidence stood at 80, down five points from July, and is now the lowest since February 2009.

Economists and analysts polled by Reuters on average expected a figure of 84 and the most pessimistic estimates gave it to 81.

Fell to 77 in October 2008, the barometer of consumer sentiment had risen to 91 in early 2010.It evolves from September 2007 below its historical average of 100.

In a context dominated by the debt crisis and falling financial markets, households' opinion about their personal financial future down quickly, Insee said in a statement: the balance corresponding yield six points in September compared to July.

In addition, households consider that the time is much less favorable to spare, leaving the balance corresponding back and forth eight points below its historical average.

Fears of changes in unemployment are soaring while the balance of opinion on the development of future standard of living fall.

The INSEE survey is conducted each month (except August) by telephone from approximately 2000 households.

The New York Stock Exchange ended down 1.03% Thursday, the Dow Jones industrial yielding 30 119.96 points to 11,493.57 points.

The S & P-500, wider, lost 14.47 points, or 1.19% to 1204.42 points.

The Nasdaq Composite Index was down 33.42 points for his side (-1.3%) to 2546.04 points.

Trading volumes were low, investors pausing after four sessions up and awaiting the U.S. employment figures on Friday.

The number of jobless fell by 12.000 last week, while the ISM manufacturing sector, albeit declining, remained in the growth area in August, while economists expected a contraction.

However, the decline in nonfarm productivity in the United States was larger than originally announced in the second quarter.It fell 0.7% annual rate instead of a decrease of 0.3% in the first estimate.

Construction spending in the U.S. have also declined by 1.3% in July, their biggest drop since January, according to figures from the U.S. Department of Commerce released Thursday.

President Barack Obama has also revised downwards its growth forecast as well as on the budget deficit.

As for values, title Ciena surged 20.18%. The manufacturer of equipment for telecommunications shows a profit for the first time in three years, while analysts expected a further loss.

Goldman Sachs has been unscrewed from 3.49%.The U.S. Federal Reserve demanded that the U.S. bank to make the services of an outside consultant to review the mortgages issued by one of its subsidiaries, to identify and compensate borrowers who have been victims of improper seizures .

Finally, as GM fell 4.16%. The manufacturer has not achieved the most optimistic of sales growth in the United States in August. Since the beginning of the year, the stock has lost about 36% of its value.

"It would be completely irresponsible for the government. That's why it will not happen. The Social Democrats will not give up," she said at a gathering of the Social Democratic Party broadcast by the channel public television YLE.

Before her, a Finnish government source warned that the granting of collateral in exchange for the participation of Finland in terms of aid to Greece was an absolute prerequisite.

The website of a European institution had advanced earlier Helsinki waive this requirement.

"It seems there was a misunderstanding.Our demand is still very topical. The collateral is an absolute prerequisite to the participation of Finland to the aid plan, "said the government source.

"Discussions are ongoing on how to make these possible collateral," she said.

The government must announce tomorrow new fiscal austerity measures, more drastic than expected. Already a victim of fiscal tightening in 2010, tax loopholes will again suffer a serious movement of the plane. And this time, the exemptions from the overtime will not be spared. A tax on the richest households is also on the agenda.

Objective: To reduce the public deficit to 5.7% of GDP this year, 4.6% next year and 3%, the threshold set by the European treaties, in 2013. The government says the effort is to achieve additional savings of 4 billion this year and 10 billion next year. It is our view, far too optimistic. The magnitude of the austerity plan will have to be revised upwards.

And for good reason: the poor performance of the French economy in the second quarter, completely destroys the government's projections of 2% growth this year, which was built on his first budget proposal in 2012. After the 0 points of GDP growth between April and June, it would rise 0.7% of GDP in the third and fourth quarters to take this objective, a performance ever during the last decade. In other words mission impossible.

More than 30 billion euros in savings expected in 2012

Especially there is no reason to expect that the economy re-accelerates in year-end: the investigation of activity, Markit PMI and business climate of INSEE for the month of July, are even more alarming. Entrepreneurs morale in the socks. Their margins are low, production capacities are still under-utilized while the stock market meltdown currently affecting the French banks could lead to restrictions on credit terms.

Result: the investment projects are likely to remain in the bottom of the barrel. And not just in these circumstances, to expect pay increases or massive reflux of unemployment. Clearly, the two main drivers of growth hexagonal, investment and growth will remain depressed.With the global economic slowdown is expected to continue until the end of the year, including the Atlantic, it is certainly not foreign trade, which will take over to give a boost to the French business.

This is why the Centre does Prévisionsde Expansion table on 1.5% growth this year. Under these conditions, an increase of 2.25% of GDP in 2012, as planned by the government, becomes completely unrealistic. Indeed, it would mean that the French economy repeats his feat of the first quarter of 2011, that is to say 0.9% GDP growth over the four quarters of 2012. A feat never achieved since the war boom. The CPE does so more than 1% growth next year.

Impact on the budget debate: it is not 18 billion euros in 2012 it will find a commitment to meet commitments to reduce the deficit but more than 30 billion euros, 13 billion more than expected . And not 10 billion. Between exercise fiscal discipline to reassure financial markets and avoid alienating voters with too severe austerity measures in less than a year of presidential elections, the balance is more difficult than ever to find the government.