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France Must Invest EUR322 Billion In Energy By 2030

fxbom.com
06:11 PM

PARIS -(Dow Jones)- France needs to invest EUR322 billion in its power generation and distribution means over the next 20 years, an amount that would increase to EUR382 billion to include developing other energy sources if the nuclear share in its energy mix was cut to 50% by 2030 from around 75% at present, according to a study the French energy industry association released Monday.

Should the government decide to lower the nuclear share to 20% of the country’s mix by 2030, when a majority of France’s reactors reach 60 years of age, the country would need to spend EUR434 billion by then to develop alternative power sources, according to the study conducted for the Union Francaise de l’Electricite.

Resign Prime Minister George Papandreou, Greek Political Situation Still Blur

fxbom.com
12:32 PM

Greek Prime Minister George Papandreou on tonight (06-11) declared resignation from his post. After a referendum on the proposed bail-out effort against Greece and then cancel it, George Papandreou resigned before further discussions between the Greek policy of bail-out of EU finance ministers in Brussels tomorrow.

Finance Minister Evangelos Venizelo suggests the need for a single vote from the Greek side in the face of the signing of an agreement to bail out Greece.

Fxbom.com analyst argues, these developments could increase the volatility of movements of the Euro on trade this week.

ANZ Australia Total Job Ads Fell 0.7% In Oct Vs Sep

fxbom.com
12:28 PM

SYDNEY -(Dow Jones)- The total number of job advertisements in Australian newspapers and on the internet fell 0.7% in seasonally adjusted terms in October compared to September to an average of 181,005 ads per week but remains 1.8% higher on year, Australia & New Zealand Banking Group Ltd., which compiles the data from major newspapers, said Monday.

The number of internet job advertisements fell 0.6% in October but remains 2.8% higher in seasonally adjusted terms on year and job advertisements in newspapers in Australia fell 0.7% in October and grew 1.8% on year.

Japan Ready To Cooperate On More EFSF Purchases

fxbom.com
02:09 PM

CANNES, FRANCE — Japanese finance minister Jun Azumi said Thursday Japan is willing to make additional EFSF purchases depending on the E.U.’s efforts to stabilize its financial sector.

Speaking to reporters after Thursday’s G20 meetings in Cannes, France, Azumi said Japan is “willing to cooperate on additional purchses of EFSF depending on the E.U.’s efforts.”

Azumi also added the market may not be confident in creating a separate vehicle to leverage EFSF funds to increase the needed bailout capital, saying it is preferable “that the IMF step up rather than create a new framework” for such operations. “We’re willing to cooperate in strengthening IMF funds” if the G20 can achieve a consensus, Azumi said.