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Finance ministers and central bankers of the G7 (U.S., Canada, Japan, Germany, France, Italy, United Kingdom) are found on Friday and Saturday in northern Canada (see below). As Barack Obama lashed out Wednesday at the undervaluation of the yuan, "matters relating to the Chinese currency (are) in all minds," said Treasury Secretary Tim Geithner, suggesting that the subject would be treated by the G7.

Officially there is indeed no agenda, and contrary to tradition will be no statement issued after the meeting. "We want to rediscover the" spirit of Rambouillet "historic first G7 in 1975, and have a" chat by the fireside "freer," says one does in Paris.

There is also evidence that the G7 keeps all its usefulness, although the creation of the G20 seems to have finally stole the palm as an instance of global economic governance. The G7 countries are convinced that they have specific interests in common, as explained by a European central banker. "Our currencies are the only ones to be truly flexible, and also we can not forget that our economies have pushed capitalism to the brink!" Quipped the great European treasury.

Debt relief in Haiti

The G7 countries recognize the need to reorganize their respective banking systems, which – and alone! – Were behind the financial crisis of 2008.Mario Draghi, participate in debates with his two hats as governor of the Bank of Italy and Director of the Financial Stability Board, the international body created by the G20 to coordinate international regulation of all financial institutions, and not Only banks.

As for currencies, it is true that the G7 currencies are virtually alone, with few exceptions including the Swiss franc, which float freely, for better or for worse. The remarks made Wednesday by Barack Obama against the yuan, strangely overlapping language of Nicolas Sarkozy vis-à-vis the dollar. "The price of currencies and their accuracy is one of the challenges we face on the international level to ensure that the prices of our products are not artificially inflated and those of their equally artificially lowered," said U.S. President.

Even if the G7 should lead to no decision, according to a spokesman for the German Finance Ministry, announcements could be made regarding Haiti. The U.S. Treasury first raised the issue of debt relief for Haiti. Dominique Strauss-Kahn, the IMF managing director and Robert Zoellick, President of the World Bank participate in the Canadian meeting.

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During the worst crisis in the global economy since 1929, electronic commerce has continued to grow. The turnover posted by online merchants reached 25 billion euros, up 26% in one year. Growth continues at a speed so rampant: the activity has increased tenfold since 2002. Electronic commerce now weighs just over 4% of retail sales (excluding food and pharmaceuticals) business cards . And projections are optimistic, according to the Federation of e-commerce and distance selling (Fevad), who presented the results Tuesday, the amount could reach 46 billion by 2012. The increase in 2009 was fueled in particular the creation of 17,000 new commercial sites, two every hour!

Barely two months after the EU-Russia summit in Stockholm, the energy tensions resurface. Moscow may decide to deprive Slovakia, Hungary and the Czech Republic of oil because of "unresolved issues between the Russian Federation and Ukraine," said the Slovak government in a statement Monday, citing a letter sent by the Russia to the European Commission.

In this letter, Moscow stresses the existence of a "trade dispute" with Kiev, confirmed a spokesman for the European Commission Figaro.fr. "Member states have been alerted to this note by the usual procedures. The oil price is a sensitive issue between the two neighboring countries, which have already been two "gas wars" in late 2005 and early 2009. If Europe is much less dependent on gas than oil from Russia, the prospect of closing the valve by Moscow worried.Slovak Prime Minister Robert Fico has convened an emergency meeting of the Security Council in the country on Monday, the government said.

Kiev wants "guarantees" on transit

The Ukraine has not responded. Sergui Zinkevitch, a spokesman for the Ukrainian pipeline operator Ukrtransnafta, told AFP that Kiev wanted to review the conditions of transit of Russian oil to the EU. "The current contract was concluded in 2004 for fifteen years, the Ukraine wants to make amendments." And seeks assurances from Moscow on the volume of oil transiting through the country. "Negotiations are continuing," acted as spokesman. According Sergui Zinkevitch, however, complaints from Moscow did not arise, the tariff issue has been resolved."A compromise satisfactory to both parties has been found," he said.

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"Russia threatens Europe with a new gas war

Senators are sitting on a pile of gold. Their very generous pension fund available in late 2008 from 575 million euros in reserves. Enough to finance 23 years of service! This study reveals that Safeguard pensions, including Le Figaro revealed the exclusive content.

The association, which aims to promote equity between the retirement of private employees and that of other assets (staff, nationals of special schemes …) based on official documents, public or not.It highlights the "extraordinary performance" of the Senate plan: taking into account life expectancy and age of retirement (67.5 years), a senator "means" receive before his death, 4.90 euro pension for every dollar contributed during his career – against 1 euro pension for about an employee's private and 2 for an official.

A former senator who made a single six year term and receives 1 932 euros monthly pension. Either "30% more than the average pension of an employee's private after a full career," observes Backup pensions. Only condition, almost always true: have paid double, as any senator has the opportunity during his first fifteen years in the "house" (480 euro premium "pay" per month). Reversion (retired widower and widow elected) is more favorable than in the general scheme.Finally, "most varnishes are the senators from the public (39% of the Chamber)," wrote Saving pensions. They can continue to contribute 7.85% of wages they would have received in their original, adding the State as 60.14% for all staff. Finally, they combined so full of retired staff and retired Senator, unlimited.

And yet, despite this apparent generosity, the body of senators shows no deficit, despite his bad demographic situation: 1.7 to 1 pensioner contributor (cons 1 retiree for 1.4 active in the general scheme). By what miracle? Strong support from taxpayers? Not really: the contribution "employer" paid by the Senate, represents 2.4 times the premium "pay" for senators.This is more than in the private but much less than in the public or any other special arrangements (for members, taxpayers pay 7 times more than the elected themselves!).

Everything comes from the fact, that the backup pension scheme senators is "remarkably managed. Based on the collective capitalization (1), he leads every three years an audit in which it updates its forecasts and issue invitations to tender to select managers for its funds. Sewing up since birth … in 1905, he held a "pot" whose composition is unknown but the end of 2008 amounted to 575 million euros – given the financial crisis, a provision impairment has been moved cautiously, however, reducing the carrying value of these reserves to 484 million.Result: only the interest generated by these investments provide over half of the pensions paid each year.

A pool of 1 billion euros in 2050

A performance such as – and this is the only criticism Backup pensions – by "employer" is "not only immoral but unnecessary. Why bother keeping a grant which only swell the reserves that increase perceptibly from year to year? ". Calculations of the association, placed at a reasonable rate of 4%, this kitty will reach 1 billion euros in 2050 …

(1) Safeguarding pensions do not hide that she is campaigning for the introduction of a dose of capitalization in the general scheme, which currently relies on distribution, Ed.

"DOCUMENT – The study Backup Pensions (pdf)

After a year in 2009 under the sign of restraint on wages, what does the year 2010? "The care and attention are always placed in businesses," said Fanny Potier-Koninckx, principal at Towers Perrin and responsible investigation "Outlook 2010 in terms of pay, which is published today.

The number of overtime-exempt expenses remained virtually unchanged in the third quarter 2009 compared to the previous one, according to latest statistics from the ACOSS, the federation Urssaf. It now stands at 166.8 million hours, equivalent to 300 000 more than the second quarter. On a year because of the crisis requires, however, it drops by 9.2% but with very strong variations by sector of activity.

In industry, traditionally strong consumer of overtime, and the decline exceeds 20% a year, particularly in the metals and fabricated metal products (- 30.6%).

The downturn is intensifying in the construction, it also adept overtime, since the decline reached 9.1% year, four points lower than the second quarter.

The decline was however more moderate in services, – 5.5% a year, mainly because of reduced degradation in the interim (- 30.3%, after – 47% in the second quarter).

Small firms resist

The amount of overtime was ultimately declined less in very small (- 0.2% in one year) than in large (-12.1%) companies "because of the very small proportion of which remained 39 hours, have a structural use of overtime ", says ACOSS in its statement.

The annual decline is also evident in all departments. To the north and east of the hexagon that the decline is greater (less than – 13%) while the Ile-de-France and most departments of the South experiencing moderate declines in the number overtime (between 0 and – 13%).

Only a few departments, Corsica and the Mediterranean (Languedoc-Roussillon, Gard, Var …) actually experience a slight increase of about 10%.

In total, nearly 40% of companies today continue to seek exemptions from overtime, the lowest rate recorded since the entry into force of the measure contained in legislation Tepa in summer 2007. The more companies are consuming less than 10 employees have benefited from 29.5% to 673.1 million euros granted in the third quarter. The larger the company, the less the volume of aid is therefore the more than 2 000 employees affecting only 8.6% of the total.