The Italian stock market regulator CONSOB today extended the ban on short selling of shares in financial companies to January 15th, 2012, to prevent speculation and reduce market volatility, officials said. The ban was introduced on August 12 with rock than 3 months.
“CONSOB decided today to extend the measure until January 15th, 2012 for shares of banks and insurance companies”, it said in a statement the regulator.
Yesterday and France extended the ban on short selling of financial companies, but another 3 months. Spain, Belgium and Greece also imposed bans on short sales in August. The situation in Italy is getting worse with every day and this information comes a few weeks before the plan to stabilization of the economy and to beat the financial and debt crisis. The Italian Premier Minister Silvio Berlusconi promised to resign in a few days and should be changed.

France rejected the European Commission calls for further reduction of budgetary spending. Earlier today the European Commission announced that in 2012 the French economy will grow by more than 0.6 percent. Brussels forecast was far more pessimistic estimates of the French Government for 1 percent growth. The Commissioner for Economic and monetary affairs commissioner Olli Rehn warned that the situation in Paris will not fulfill its commitment to reduce its budget deficit from the current 5.7% to 3% in 2013. In response, Finance Minister Francis Baron said that the economies of the French cabinet approved earlier this week, France will not only fit in the desired spending limits, but will completely eliminate the deficit within five years. The statement of Baron stated that next year the government will have reserves of 6 billion for contingencies. Trying to maintain the highest rating of the debtor, the French government on Monday announced a package of savings and tax increases amounting to 65 billion EUR for the period to 2016, recalled Tuesday.

Turkey continues to place huge investment in transport and colossal projects planned till 2015, the online edition World Building. In October 2013, scheduled to become operational project Marmara – railway tunnel under the Bosphorus, which will connect the underwater Asian and European parts of Istanbul. The project envisages the modernization of railway lines along the Marmara Sea. Another important project – highway under the Bosphorus, is expected to be completed by the end of 2015, this tunnel will be used only by cars.
In January next year will be tender for a highway between the cities of Gebze, Izmir and Orhangazi and Interstate North Marmara, which includes a third bridge over the Bosphorus, will begin operating in 2015.

The European Parliament is against cutting costs in the European Union budget for 2012 which announced a number of major countries in the organization, and lawmakers support proposals by the European Commission draft document, said in a statement EP. In late April the European Commission presented a draft of the total EU budget for 2012, which provides a cost increase of 4.9% over 2011 to 132.7 billion and revenue – 3.7% to 147.4 billion.
“The EP resolution warns of” horizontal “spending cuts in the budget without assessing the actual needs of the EU. It calls on the parties if they have decided to offer similar cuts in public to explain what European priorities or projects they want to postpone, “the statement said. Parliament defends the proposed increase of 4.9%, noting that it is based on a detailed and critical assessment by the Commission to the needs of the union.
The process for adopting the budget for 2011 is tightened because of disputes over the need to increase its revenues and expenses. The initial EC proposals were then rejected. A number of major economies in the EU believe that should be frozen revenues and expenses.
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As part of the reason for the delay in the U.S. economy Barack Obama pointed out problems in Japan and Europe. Published on Friday data reveal that for the past eight months in May, U.S. employers have recruited at least new employees, and unemployment has risen to 9.1 percent from 9.0 percent in April. The economic data are political challenge for President whose re-election in 2012 will depend on its ability to convince voters that the economic policies of his administration have been successful. Part of the President’s election strategy will involve a shift of voters to external factors for domestic economic problems. In his address Saturday, Obama has done exactly that, warning of cross winds, harm the U.S. economy.
“Although in the past 15 months our economy has created more than 2 million jobs in the private sector continues to grow, we are now facing strong opposition winds”, he says.
These are high gas prices, the earthquake in Japan and concerns about the fiscal situation in Europe. From time to time on the road to recovery will encounter similar shocks.
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Russia will invest over 285 billion dollars over the next decade to accelerate the pace of road construction, said today the country’s Prime Minister Vladimir Putin. Thus, it addresses one of the most sensitive issues for the Russians. Putin, who has hinted that it may participate in the presidential elections in March 2012, seek to meet the demands of car owners. Studies show that Russians are increasingly concerned about the quality of the roads after the number of vehicles in the country doubled to 40 million over the past decade and is expected to reach 60 million by 2020. The World Bank stated that the road infrastructure in Russia is considered a major obstacle to economic growth, with only one third of the roads in the country meet the quality standards.
“The state of our roads is a real problem that limits business activity, investment and development of Russian territory,” Putin said at a meeting of local authorities in the city of Tver, 220 km from Moscow.
“Our financial resources allow us to double the volume of road construction over the next ten years,” said Putin.
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The German ruling coalition agreed to abolish all nuclear facilities in the country by the end of 2022. The German minister of ecology Norbert Rotgen announced the decision after the cabinet meeting, which lasted until the early hours on Monday. German Chancellor Angela Merkel appointed ethics committee to consider the safety of nuclear power in light of the crash in the nuclear power plant in Fukushima, Japan. After the incident was covered by German anti-nuclear protests. Rotgen indicated that the seven oldest reactors already shut down, and nuclear power Kryumel will be exploited more.
Six of the remaining nine reactors will be decommissioned in 2021 and the three most recent – in 2022.
“The decision is final. The deadline for the suspension of the three most new reactors in 2022 is no clause in the contract for revisions, “says Rotgen.
Before the suspension of the seven oldest reactors in the country in March this year over 23% of electricity in Germany is generated from nuclear facilities. The anti-nuclear protests have provided support for the Green Party in Germany, which took control of Baden-Wurttemberg by Christian Democrat regional elections in late March.
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The Japanese motor vehicle companies will work on Saturdays and Sundays and will rest on Thursday and Friday to save electricity. The regime will be introduced from July to September. This schedule will run all companies producing parts for the automotive industry, today announced the Association of Japanese automobile companies. The Government of Japan has already turned to private business in the northeast of the country during the summer asking to be taken to reduce electricity consumption by 15%. This is necessary because since the accident at the NPP Fukushima “were shut down and other plants. Now Japan opens stopped earlier and build new thermal power turbine generators. During the hot summer months, however there may be shortages of electricity, because consumption is increasing dramatically because of the use of air conditioners. Usually, the electricity consumption peaked at the end of the week and fell sharply during the weekend.

The European Commission (EC) announced its readiness to review and improve control over food imported from Japan, where the situation with the spread of radioactive contamination worse. For this purpose, the EC will review every 48 hours options for response to the security of food imports from Japan. This is stated in the summary of the Committee on the occasion of the measures taken to protect the European market from imported products contaminated with radiation. The Communication notes that at this stage is not necessary tightening of controls and measures are reviewed monthly. European experts exchange information every day, a joint meeting between them is scheduled for April 8th. The Commission notes that the issue is governed by the adopted following the accident at Chernobyl in 1986 rules, the limit values ​​have not changed since then. The rules include monitoring the values ​​of strontium, iodine isotopes emitting alpha particles of plutonium, and other nuclides, including cesium 134 and 137. On March 15, or four days after the devastating earthquake in Japan and the accident at the Fukushima nuclear power plant-1, the EC submitted a message to the early warning system that monitors food safety to be taken for pollution studies of food imported from Japan. The European Commission notes that this is done as a precaution. EU countries were advised to comply with the requirements set out in documents from 1987 that contain maximum levels of substances harmful to health, the appearance is the result of increased radiation.
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The United States announced that it would introduce unilateral sanctions against 16 Libyan state-owned enterprises, including the Libyan oil company, state funds and banks and the national airline of Libya, news agencies reported. The sanctions provide freezing of their assets in the U.S. and prohibiting Americans to do business with those companies.
The penalties are imposed on the Foreign Minister Moussa Kusan whose assets are frozen in the U.S.
On 25th February the U.S. unilaterally imposed a series of financial sanctions against the government of Libyan leader Muammar Gaddafi, but that protect assets belonging to the people of Libya. Sanctions were imposed on Qaddafi and several members of his family. The crisis in Libya is still growing and the countries from G-8 got decision to make no-fly zone in the sky of the country. The forces of Muammar Gaddafi are fighting with the opposition and now are controlling more than a half from the country.