Have a Good NEWS

. Trade FTSE 110 points above
. UK airports

surprise rebound, show that the contraction of the deepening of the euro

. 2008 / 09 UK recession was shorter, but deeper than you thought . General strike in Greece

. Dexia rescue should take place before Thursday, said the French minister Finance

. The agenda for today

2:03 p.m.

are sudden changes in markets on the basis of what is really happening? 4% increase in the Dow Jones last night and the nervous reaction in European markets this morning, was apparently related to the suggestion of the EC Financial Times finally had a plan to recapitalize banks in Europe.

there a plan? There seems to be non-denial denials a few out of Brussels this morning.

In any case, our man in Brussels David Gow at least have an idea of ??how it happened:

The European Commission was suddenly on the defensive today after comments about a "plan" to recapitalize European banks as the FT by Olli Rehn, Commissioner for Economic and Monetary Affairs. First, journalists from other media in Europe and abroad were angry that once again, the FT seems to be the exclusive port of call for market-sensitive news from Brussels (see the movements of Wall Street last night and today in Europe). Second, in a voice very defensive and disingenuous, the EC had to reject the accusations of special treatment - and there is no clear plan for

give every appearance of being overwhelmed, spokeswoman for the EC / wife insisted that Mr. Rehn, a Finn timid, desperately wanted to give a presser after the meeting 'Ecofin in Luxembourg yesterday but could not - because the Poles who have six-month presidency of the EU, wanted a long lunch time (in 1700CET) instead. In fact, the president of Poland has refused to eclipse his finance minister.

Thus, Olli Rehn, who "likes to give interviews and much prefer the press," slipped again in Brussels in a fast car for vital meetings. And it happens that the FT calls for a quick trip through the E341 - and talked. This is not a "bailout of the EU" (FT), but "a European approach based on coordination of national efforts at European level". Hmm. The journalist and his colleagues are waiting to speak with George Osborne tried to approach Rehn and his team on the night of Tuesday, but he slipped away - so it was not so desperate to talk, except that the Financial Times

bruised egos journalism's most critical: the EC, which is actually designed to help coordinate efforts to manage the crisis, only now, too late, recognizing that tests stress of the bank conducted in July instead were overwhelmed by the crisis of sovereign debt and involves the gradual freezing of interbank lending / net borrowing. "We are aware of what is happening in the markets and the impact on European banks," was the response box. What about comments from Antonio Borges, head of the IMF program in Europe, that European banks need ? 100 billion, 200 billion to recapitalize? "I do not want to speculate on the number of this magnitude."

more like a version of Berlaymont "Sorry, but have no idea "...

1:39 p.m.

Hello. It

Alex Hawkes briefly assume

Julia Kollewe

And the news is a time to eat ... somewhat mixed. Two separate U.S. labor relations will be pointing in different directions, to be precise.

Data

ADP said private sector employers, the U.S. added 91,000 jobs in September, against expectations of 75,000.

we separate the data from consultants Challenger, Gray and Christmas, they say that the number of planned redundancies in the U.S. companies increased in September to its highest total in two years.

difficult to know whether to make the most of one data point - but the data of ADP seems to have pushed equity futures slightly. The S & P 500 expected to open four points today, or about 0.3%.

24:29:

MP Ed Balls, Labour shadow chancellor, said in response to revised growth figures today:

These figures reflect deeply on the British economy has been stalled since last fall, well before the crisis in the euro area. Must sound the alarm in Downing Street and the Treasury. It shows things are even worse than we thought and that the economy has not increased in all nine months.

is deeply out of touch for ministers say Britain is a haven of peace where the recovery drowned last fall, long before the problems of the euro area and global markets in recent months.

David Cameron and George Osborne urgent need to realize that spending cuts and tax increases that go too far and too fast have affected consumer confidence, killed the recovery and increased the unemployment. This will only make it harder and harder to reduce the deficit and the government is prepared to borrow £ 46000000000 addition, due to lower growth and higher unemployment.

In figures released today show that families with food and energy prices, rising unemployment and the increase in VAT and are struggling to make the advance and trim. They do not need an out of touch Prime Minister's Conference on the payment of their credit cards.

What I need is a Prime Minister and Chancellor of the force to carry out its plan of work is suffering, but no. There is a better way and Labour has established a clear five-point plan to create jobs, help struggling families and small business support. I hope that in his speech this afternoon, David Cameron, takes one or more of these measures. He has a plan to achieve growth and jobs and must do so quickly.

24:18:

As for bailing out European banks, they are thought Charles Jenkins. Is this an Economist Intelligence Unit of The Economist.

proposed concerted action to recapitalize the banks is much later than it should be, but always welcome. Although this will not solve the problems of the countries most vulnerable to admit that there are difficulties also in the stronger and that corrective action must be coordinated to help bring a sense that all countries in the region and euros that are in trouble because of imbalances between them and not always point the finger at the lowest.

24:02:.

Time for a light lunch

news today

. The FTSE was up 113 points in 5057, an increase of 2.3% Britain 2008-09 recession was shorter, but more that previously thought and the United Kingdom increased by 0.1% in the second quarter (instead of 0.2%)

. Service industries in the UK rebounded in September, while in the Euro, things took a turn for the worst

. In Greece, public sector employees are engaged in a general strike

11:49 IMF comments are interesting because they also suggest they are ready to create a special purpose vehicle, and the bailout EFSF finance the purchase of Italian and Spanish bonds.

Divyang Shah Thomson Reuters, writes:

This is important because today, the focus was on the money obtained from the euro area from the EFSF, but the involvement of the IMF as a layer on the section of capital help Italy and Spain provides an additional barrier to potential investors.

of these potential investors that Japan had during the night indicate that they are willing to buy more bonds EFSF over 20% of purchases already made. There is even the possibility that the IMF can play a major role in the markets EFSF operator must be concerned that there are insufficient funds for EFSF be effectively exploited as not many of ? 440 billion already committed.

11:42

Here an update on the situation in Greece, where thousands of strikers marched to parliament to protest against the measures Government austerity. Riot police launched tear gas on a small group of stone-throwing youth in central Syntagma Square in Athens, according to Reuters.

10:58

The TUC said the latest GDP figures show a double-dip recession is a real danger. Its general secretary, Brendan Barber, said:

The economic news continues to worsen. Review today's GDP growth figures show that the economy is more difficult than expected. Now there is a real danger that the UK was in recession, and the best that current policies will be delivered from years of stagnation.

need for measures to stimulate the economy, rather than speeches that tell us to look at the bright side. The decline in household spending is almost as strong as the height of the fall, because wages are squeezed, prices rise and families cut.

course, people should be sensitive about the unsustainable debt again, but the truth is that public borrowing is based on projections rather than reveal OBR. George Osborne should be the hope that people ignore the advice of the Prime Minister to pay your credit cards today.

10:27

IMF are a few titles coming out right now. Antonio Borges, head of the IMF's European Department, European banks have said ? 100 to ? 200 billion to recapitalize. He said that the problems of the European banking sector needs immediate attention and banks need more capital to restore confidence.

10:23:.

My colleague Helena Smith in Athens features later in the general strike

strike by Greek workers have decided that today is the "beginning of a battle" against measures that are not only described as barbarians but as grown people on board poverty. The wave of angry chants of thousands of demonstrators took to the streets can be heard through the center of Athens.

"They ask us to accept the reforms in England by Margaret Thatcher during several years in a few weeks ... it is very violent, we will not be down, "said Tatianna Karayianni ADEDY all civil servants. This is the first general strike since the Greek government announced the imposition of a beleaguered property tax unpopular and layoffs in the public sector - to tighten their belts was added to the sense of bewilderment and shock now shared by a number of austerity get tired of the Greeks.

is a beautiful fall day in Athens, but everyone is waiting to see if violence will win the day protesters rally outside the parliament in the coming hours.

10:17

More information about the growth figures in the UK. Alan Clarke, Scotiabank, says:

The Office for National Statistics has rewritten history. UK GDP data for 1997 has been revised. At the margin, growth was revised upward. The most important is the upward revision in the data of the recent growth of the Bank of England was on the bench has not happened - there was a slight downward revision! The downward revision to Q2 growth to just 0.1% q / q have been disappointing. As the investigations have been weakened since Q2, there is an increasing likelihood of negative GDP at some point in H2.

10.15:

We have created this Flickr group in our coverage of Greek Week, and invite readers to share images of Greece as strike General is now affecting them.

10:07:.

Here

economist at ING James Knightley is to take the improvement in the services sector in Britain

Today's report shows the largest increase in the overall index since March. PMI may be negatively affected by concerns about unrest in August and now fears of more investigations disorders have disappeared are recovering. In fact, the overall macroeconomic scenario continues to deteriorate and the expectations component of the index fell to its lowest level sine March 2009 - the depths of the recession. We therefore believe that it is a matter of time before we see more EQ.

10 h:

Jonathan Loynes , chief economist at Capital Economics European can not be too excited about the recovery in the industry British services, and considers the Bank of England to inject more money into the economy. He says: