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According to figures published on 14th November 2013 by INSEE the GDP contracted in the third quarter of 2013. It contracted by 0.1% after recovery of 0.5% in the second quarter. Household consumption slowed (0.2% after 0.4%). Moreover the gross formation of fixed capital dropped again (-0.6% after -0.4%). In all final domestic demand is slowing.

On 12th November 2013 Philippe Maystadt, Special Advisor to Commissioner Michel Barnier presented his recommendations so that the EU can enhance its role in international accounting standardisation. The report suggests the creation of a European agency and the re-organisation of the European Financial Reporting Advisory Group so that it provides a strategic analysis of the economic impact of standards but also by forming a board whose members would be from public institutions as well as from the European Central Bank (ECB). Moreover Philippe Maystadt encourages the EU to adapt to standardisation requirements instead of just authorising or rejecting international financial reporting standards (IFRS).

On 14th November 2013 the European Parliament's Budgets Committee approved the multi-annual financial framework budget, 28 votes in support, five against for 2014-2020. This budget plans for 908 billion euro in credit payments and 960 in commitment payments, as well as the agreement achieved with the Council on the 2014 budget. The latter remedies the payment deficits for the ongoing budgetary year so that the first year of the MFF does not start in deficit. Moreover MPs adopted 33 votes in support, 2 against the modifying budget no. 9 which compensates Germany, Austria, the Czech Republic and Romania for flood damage. Finally MEPs ensured that the European Parliament's priorities like employment, research, innovation, border management and humanitarian aid were included in the 2014 budget.

On 13th November 2013 the European Council and the Council came to agreement on the "Omnibus II" Directive which plans for the creation of a modern prudential solvency regime based on real risks as of January 1st 2016. This agreement makes the insurance sector safer since it enables, for example, long term guarantees. Moreover more flexible information obligations have been planned for SMEs. The European Insurance and Occupational Pensions Agency (EIOPA) will be able to guarantee practical national prudential coherence and help towards the harmonised implementation of rules in terms of the supervision of insurance companies.

On 14th November 2013 Transport Ministers of 43 countries taking part in the Union for the Mediterranean committed to the consolidation of their cooperation in terms of transport. The aim is to support regional transport integration which will strengthen economic exchange and create further economic opportunities in the Euro-Mediterranean region. Ministers also agreed on the priorities and guidelines of future reforms in terms of regulations; on the development of the Trans-Mediterranean Transport Network (TMN-T) and the upcoming connection to the Trans-European Transport Network (TEN-T) as well as the organisation of the next conference which is due to take place before the end of 2015.

In their annual report published on 13th November 2013 the five experts (who represent the economic committee which monitors the German government) revised their growth forecasts for 2013 upwards to 0.4% against a previous 0.3% announced in March 2013. Economists are expecting domestic demand and greater consumption to support growth in Germany. Unemployment is due to total 6.9% in 2013 and decline to 6.8% in 2014. The five economists are planning growth of 1.6% in 2014 ie -0.1 points less in comparison with government forecasts.

On 13th November 2013 the Belgian State sold the 25% share it held in BNP Fortis since 2008 to BNP Paribas for 3.25 billion euro in order to reduce its public debt and to drop below the 100% threshold of its GNP. The Belgian State is due to make a profit of around 900 million euro. The French group BNP Paribas which held 75% of Fortis to date now becomes the sole shareholder.

On 12th November 2013 24 heads of State and government (except for Luxembourg, Malta, Czech Republic and the UK) the main leaders of the European institutions (H.v Rompuy, J.M Barroso, M. Schulz) and social partners met in Paris for a conference on youth employment which follows the first organised in Berlin by the German Chancellor Angela Merkel on 3rd July last. All highlighted the need to "move quickly" to reduce unemployment amongst the under 25's, who now total 6 million in Europe. "The future of a generation is at stake which has been affected by unemployment for many years," and which is "experiencing doubt and despair" said French President F. Hollande. The President of the European Commission JM Barroso said that "financing mainly depended on the Member States". "We need real action, and results very quickly," he explained. "Policy does not create jobs, businesses do" insisted Chancellor A Merkel. In all around 45 billion euro will be mobilised over the next three years in support of youth employment.

The rift between Silvio Berlusconi and Angelino Alfano was confirmed on 16th November 2013. Mr Alfano, Deputy Prime Minister in Enrico Letta's government, signed his "divorce" from the "Cavaliere" leading in his wake more than 50 MPs who will form autonomous groups under the label "New Centre Right" (NCD). During a press conference he justified this "extremely bitter, painful but fair choice" announcing that many local representatives had joined his movement including "a national convention" which will confirm the new movement "within the next few weeks".

Polish Transport Minister Slawomir Nowak handed in his resignation on 15th November 2013 announced head of government Donald Tusk. "I am sorry to accept the resignation of Minister Nowak, since I appreciate his work very much," declared Mr Tusk. "He chose an honourable solution. If he is cleared by the courts he will recover his position," he added saying that the interim would be ensured by a Deputy Minister Zbigniew Rynasiewicz.

On 14th November 2013 the European emissaries, former Polish President Aleksander Kwasniewski and former President of the European Parliament, Pat Cox declared they hoped that Ukraine would find a solution during the next session of parliament planned for 19th November regarding Yulia Timoshenko. Indeed on 13th November the Ukrainian parliament ended its extraordinary session without a vote taking place on a decision about the fate of the former Prime Minister of Ukraine. It involved approving a law that would enable her to travel abroad for medical care. Just days before the Eastern Partnership Summit which is to take place on 28th and 29th November in Vilnius this vote was vital since it symbolised a further step by Ukraine towards the European Union.

The UNs Sustainable Development Solutions Network has published an annual report on happiness 2013 entitled "World Happiness Report 2013". It offers a contribution to the debate on what public policy goals should be in terms of sustainable development. The report says that it is pleased that happiness and well being are now featuring in public policy goals. It then offers a ranking of 156 countries based on various criteria that enable the discernment of the degree of happiness of the populations in the world (GDP/inhabitant, life expectancy, having someone to count on, awareness of being free in life choices, lack of corruption, generosity etc ...). The first five countries in the ranking are all European : Denmark, Norway, Switzerland, Netherlands and Sweden.

According to figures published by Eurostat on 15th November 2013 the annual inflation rate in the euro zone lay at 0.7% in October 2013 against 1.1% in September. A year ago it lay at 2.5%. The monthly inflation rate lay at -0.1% in October 2013. In the European Union the annual inflation rate lay at 0.9% in October 2013 against 1.3% in September. A year ago it lay at 2.6%. The monthly inflation rate lay at -0.1% in October 2013.

On 15th November 2013 Eurobarometer published a report on responsible research and innovation, science and technologies indicating that 77% of Europeans believe that science has a positive influence on society. The impact of science and technology on the quality of life is viewed positively, since it makes life easier and more comfortable. Moreover 53% of Europeans are interested in developments in science and technology but only 40% feel they are informed about it. Finally 54% believe that science and technology applications can be a threat to human rights.

The Organisation for Economic Cooperation and Development (OECD) has published an Economic Study for France 2013. In this study the OECD assesses recent economic and political developments in France and puts forward its main recommendations. The study's conclusions reveal that the French economy has been particularly affected by the economic crisis but that the political calendar would allow France to start reform, notably in terms of public finance. The study especially highlights the situation experienced by young French people. Hence the institution encourages the country to stimulate growth and competitiveness, to improve the fiscal system and the economic situation for young people.

The Château of Versailles invites you to discover the secrets of the most famous of its gardeners with the exhibition "André Lenôtre in perspectives (1613-2013)" open until 23rd February 2014. This exhibition is being organised on the occasion of the 400th anniversary of the birth of André Le Nötre. The exhibition is offering a new and surprising image of the man, his art and influence. Gardner, artist, architect, engineer, landscape gardener, collector, André Le Nôtre, a close friend of the King transformed princes' dreams into reality.