Daily International Headlines

The veil is lifted gradually. The Labor Inspectorate, in charge of investigating the wave of suicides that has struck France Telecom, has submitted its report to the prosecutor of Paris, February 4 last. According to Le Parisien / Today in France this Saturday, this 82-page report clearly denounced the "political restructuring" implemented by the former management team of the operator in 2006.

The warning had been given

Based on the survey conducted by the firm Technologia since December 14 last, with 500 employees of France Telecom, the labor inspector, Sylvie Catala said that the former management has been warned "repeatedly" effects produced by its management policy of "health workers".Doctors labor union representatives, regional fund Medicare and "even justice" have sounded the alarm since 2006.

Neither worked. Management has maintained the course and put in place its plan Next, aimed at "improving the efficiency, effectiveness and productivity" of France Telecom. By what means? The removal of 22,000 jobs in three years and the transfer of 10,000 people to regions and / or different jobs.In its indictment, the inspection work is directly involved three people: Didier Lombard, the former CEO of the group replaced by Stéphane Richard 1 March but retains chairmanship non-operational, Louis-Pierre Wenes, former director Operations France and Olivier Barberot, former director of human resources, both landed in the heart of the storm check cash advance .

The reorganization at any price

Thus, the inspector cites including about Olivier Barberot required to Staff Group in 2006, referring to the plane Next: "I will have failed if we do not the 22,000 departures. For the group, is 7 billion of cash flow. "The reorganization should be done.At the risk of certain employees remain "at the roadside," according to a formula used by Louis-Pierre Wenes at a convention this year 2006.

The conclusion of the inspection work is final. The organization of work implemented by the management of France Telecom is "likely to cause serious harm to the health of workers, it is written in the document shown by Le Parisien / Today in France. An accusation which excludes the regional operator. The latter "have merely applied the methods and decisions taken at the highest level of the group."

This questioning of France Telecom, which has complained about fifty suicides since 2008, echoed in another report from the inspection work on the floor of Besancon in January, following the suicide of an employee in the Doubs in August last.His verdict: "homicide by imprudence".

Total, Renault and Areva are warned: Nicolas Sarkozy keeps an eye on them special attention. This is the message sent by Nicolas Sarkozy in an interview with Le Figaro Magazine, published on Friday morning. Asked about his plans for the nuclear industry, the President of the Republic has decided: "We will decide in April, when Francois Roussely get me released its report. The Head of State stressed the importance of a complete reorganization of the sector. "At a minimum, requires that the chain is reorganized so that teams of France did not compete do so cons-productive." The lesson of the failure of Abu Dhabi should serve us for the future. "

Nicolas Sarkozy evokes the friction between the two giants of French nuclear, EDF and Areva, vying for leadership of the sector. For him, these "public disputes between the leaders of these companies is unacceptable."The president warned: "The state will place the order."

Nicolas Sarkozy referred to "the question" Areva, which he considers "extremely complex", without mentioning any departure of Anne Lauvergeon, a subject that is the subject of persistent rumors. Not a word, therefore, about the boss of global nuclear leadership. However, the Head of State spoke on Henri Proglio: "We have appointed head of EDF's a very good manufacturer," says he. The CEO of EDF has publicly criticized the strategy of Areva, which does not hide its desire to place EDF as leader of the French nuclear industry internationally.

Renault under pressure from shareholder

The president is very tough on the manufacturer who "has to remember that French was" when the State has paid 3 billion euros "to help end the crisis" .Nicolas Sarkozy denied any policy of relocation efforts "to manufacture outside of the cars we sell in France. A reference to the decision by Renault to produce some of the production of its Clio in Turkey IV.

"This is not the president speaks, the state shareholder holding 15% shares of the group! It is still reassuring for the French taxpayer to know that their money will create jobs in France rather than abroad. "

Reindustrialization forced to Total

The closure of the refinery at Dunkirk by Total also react President of the Republic, while the latter maintains that in the course of 2010, unemployment will fall ( "I am confident that we follow good economic strategy. It will bear fruit this year).Total welcomes Nicolas Sarkozy for his 8 billion euros of profit: "So much the better, and congratulations," he said. But for the Dunkirk refinery, he said: "We could not announce its closure and say to the re-industrialization, we will see later.

Nicolas Sarkozy calls for "respect of persons" and expects "the immediate closure corresponds to a new project of re-industrialization". It thus incorporates the words of his Minister of Industry, Christian Estrosi.

The 35 hours again chipped

These files allow the burning president reaffirmed his rejection of 35 hours, he considers "a very great challenge for our economy." For the past Nicolas Sarkozy had "facilitated the relocation, the deindustrialization and falling wages.He said, "we wanted to destroy the competitiveness of our industry, we did it would not take otherwise."

Hence the need to revive the country's industrial policy. "We are the only country to ask the question of its usefulness" while France "has lost 500,000 manufacturing jobs" from 2000 to 2007.

Nicolas Sarkozy is optimistic for this year: "If we are not yet out of the crisis, the recession is over" and "growth exceeding 1.5% in 2010 is expected. So far, the latest forecast Bercy had forecast a rise of 1.4% PIBB.

ALSO READ:

"Nuclear: Sarkozy calls for cooperation

"Sarkozy: no reshuffle before the pension reform

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 fast payday loans .

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.

ALSO READ

"China is" ready "to monetary policy adaptersa

"China limits its credit, finance reacts

"The Fed has left interest rates low for much longer

"Down by the euro:" China is central "

After a 2008 black, stock markets around the world experienced in 2009 a substantial rebound in the light of an economy still recovering. In Europe, the Dax in Frankfurt rose 23% to 5957.43 points December 31, while the FTSE in London was granted 22.07%, to end the year at 5412.88 points. The squares of Brussels (+ 31%) and Madrid (+ 30%) did even better, while the Swiss market shows an increase of 18.27% and the Milan Stock Exchange rose from 13.28%.

A second half of 2010 uncertain

In Asia, equity indices recorded spectacular gains. Shanghai has taken over 80% in one year, and Hong Kong has offered an increase of 52%.Even in Japan, where the structural problems persist, the Nikkei index Featured jumped 19.04% in 2009, to reach 10,546.44 points at the end of the year.

Across the Atlantic, the Dow Jones rose over the year to 18.82% and the Nasdaq composite jumped 43.89%.

According to the main house management, year 2010 should be characterized by a sustained increase in equity markets in developed countries during the first half of the year. The interest rates of central banks and European American should not be raised before next fall or later, consider including Axa IM, Pictet and Aurel BCG.

Then, visibility fading. The recovery plans, adding to public debt, will sooner or later disappear, and allow growth to take charge alone.

ALSO READ

The Cac 40 gained 22.32% in 2009