An invoice of more than 50 billion for France

Posted by admin on February 23rd, 2012

 

Gone is the political consensus that prevailed in France last year about the need to save Greece. Tuesday, the Socialist deputies abstained on two bills used to be validated by France on European Stability Mechanism (SPM). And Socialist senators will do the same next week. With 500 billion euros, MES must nevertheless serve from July, firewall Standing against the sovereign debt crisis in the euro area.

Socialists do not disagree that the SS as the budgetary stability pact European carrier with greater discipline on public accounts. And they consider that the MES and form a pact. This treaty "as it stands today does not provide strong commitment to growth," said Tuesday, Jean-Marc Ayrault, president of the PS group in the Assembly. A position in line with that of Francois Hollande, who wants to renegotiate the December European, to add a section on growth.

Heavier debt

"The refusal of the Socialists to vote MES is a serious fault which shows their bigotry," retorted Tuesday, Francois Fillon before the UMP group. Anyway, the MES should be approved by France, the Assembly, dominated by the UMP, having the last word on a left-wing majority in the Senate.

The MES is the latest tools devised to solve the debt crisis. It will function as the EFSF (European Financial Stability Fund), it will eventually replace: it will borrow in the markets and then help the troubled country payday loans for self employed. These are the European countries which will mean the MES in equity, to 80 billion euros. France will contribute 16.3 billion by 2017, including 6.5 billion this year. This will weigh down all our debt, which has already reached 1.7 trillion. And this bill is not isolated.

As part of the first aid to Greece decided in spring 2010, France has already lent directly to the country 11.3 billion on a commitment of 16.8 billion euros. Public debt has been weighed down by 11.3 billion.

France will contribute more importantly, valued at 23.4 billion euros, the second Greek rescue plan which should amount to 107 billion euros for euro area Member States. The hex will help the European Financial Stability Fund, which lends to States in difficulties with the guarantee of the Member States. Its borrowings weigh down the public debt. Because of all the commitments of EFSF on Portugal, Ireland and Greece, the French public debt should be weighed down by 38.5 billion. So that the total bill for France's aid to European countries in difficulty should go well beyond 50 billion!

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Greece: 10 new austerity measures

Posted by admin on February 13th, 2012

 

To receive a new grant of the European Union and the International Monetary Fund, the Greek parliament must adopt a new set of austerity measures. Since the crisis began in September 2009, the addition of austerity plans that inflicts Athens in the emergency exceeds the 169 billion euros. Some are new, others have already been passed but have not been applied correctly. Inventory.

More flexible labor market

• To halt the decline in unemployment and improve the competitiveness of Greece, the European Union and the International Monetary Fund require a 22% decrease in the minimum wage. For those under 25 years, the decline will be 32%. Labor costs should decline, overall, 15% by 2015.

• Removal of automatic wage increases, including those generated by seniority.

Savings in the state budget

• Reduced costs of drug expenditure, for 1.076 billion euros. The Greek health system is very large deficit, reform has been underway since 2010.

• Decrease in the defense budget of 300 million euros. Military spending in Greece totaled 4.03% of national wealth, against 2.43% for France.

• Remove 500 mayors. A local government reform was passed in late May 2010 and has already reduced to one quarter the cost of territorial administration.

• 10% of salaries of officials covered by special schemes. From spring 2010, public employees have suffered pay cuts.

• The Greek government has yet to find 300 million euros saved. This is to fill the hole caused by the abandonment of this week the decline of certain pensions pensions, especially the poorest.

Strengthen the tax

• Greece should adopt a major reform of the tax service. It will include recruiting new controllers, multiply the tax audits, computerizing its collection system. An anti-corruption plan will be implemented this year. Tax evasion is estimated at 13 billion euros.

Continuation of the privatization program

• Greece should sell during the first half of 2012 four state-owned companies (gas, water, games, oil). Expected gain: just under 4.5 billion euros. The government has fallen behind its privatization plan, collecting only 1.3 billion euros in 2011, a target of five billion.

Public Service

• Athens will put 15,000 employees in a "reserve labor". They will be paid at 60% of their salaries. A similar measure was adopted last October, but poorly set up according to observers. In Greece, one in five employees is official.

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Apple highlights the progress made by its subcontractors

Posted by admin on February 10th, 2012

 

Not easy to swap clothes for those of David over Goliath without being criticized. For nearly twenty-five years, Apple has enjoyed the affection – not to speak of passion – to some extent by this small company, the maverick world of personal computers and a thorn in Microsoft Almighty .

In less than a year, Apple acquired the status of the business world's most expensive, top selling smartphones in the fourth quarter 2011, a number of computers at HP (by adding the sales of iPad and Mac) . The Apple brand has always had detractors. Its success has added to criticism, particularly those concerning working conditions in its Chinese subcontractors. These are nothing new, but the good financial results of Apple have redoubled the ardor of his detractors. In late January, the New York Times has published a lengthy investigation dependent, widely broadcast on the Net.

Working conditions of employees of Chinese subcontractors Apple are regularly placed on the hot seat. The U.S. media decry the use of children and failure to follow safety rules (poisonings and explosions occurred in Chinese factories).

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Lemaitre expanding its sponsorship contracts

Posted by admin on November 21st, 2011

At 21, the little genius of the French sprint Christophe Lemaître, maddens the counters … and brands. Sought in recent years by more than a dozen of them (according to the Journal du Dimanche), the Savoyard finally chose mineral water from Aix-les-Bains as the first non-sport partnership (it has already been associated 2007 the Japanese OEM image Asics). A logical conclusion, the sprinter is already three years since the ambassador of the city where he lives and trains.

But unlike the previously mentioned ambassador status which would yield between 4000 and 4600 euros per month, this new association between the rider and the city passed this time by a private group.

Bottle collector bearing the image of the runner

The League of mineral waters of Aix-les-Bains is in fact owned by the Group of the Musketeers (owner of the sign distribution Intermarché).

Posted by admin on November 2nd, 2011

Mounting amateur, his almost inaudible and characters presented as employees very unconvincing … The video posted by Cora stores on Youtube and Facebook completely misses its mission was to restore the group's image, tarnished by the affair of the cashier accused of theft for taking a receipt abandoned which included a coupon.

This video was supposed to show the brand in a new light. Many people just like to describe in an exaggerated way their "happiness" to work for the group, some 32 years. "Cora is my life," says one of them. "In a year I would go to retire and I would say thank you Cora," said another. Some speak about the controversy surrounding the case of receipt, "it saddens me a bit because it does not reflect what I saw on a daily basis no faxing 1 hour payday loans."

The implied question by the cashier of the case are also there: "I was very surprised that an employee fired for that is done, because Cora must go there to get fired. After I think we may not be aware of everything, there was a particular version, "said a young man shot in front of a coffee machine.

Perverse

On Youtube, Cora says, "This video was shot by the employees themselves" Saturday, October 29 following the controversy over the store Mondelange. " But users do not. Worse, they are unleashed on the Facebook page of the sign: "How dare you take the Internet for idiots?", "What propaganda two cents!", "Your approach is crude, stupid and really pathetic," " against your attack is an incredible mediocrity.

Posted by admin on October 28th, 2011

In the wake of a meeting of euphoria all financial markets worldwide, the U.S. equity markets should catch their breath on Friday. Yesterday, relieved by the adoption of an anti-crisis plan in the euro area, Wall Street has ended sharply higher, the Dow finishing with a surge of 2.86% to 12,208.55 points. The Nasdaq climbed meanwhile to 3.32% at 2738.63 points and the S & P was up 3.43% to 1284.59 points.

In the wake of European stock exchanges, investors should play the card of caution before knowing the details of the implementation of the anti-crisis plan of the euro area. At 12 hours, the index futures on the Dow Jones retreated slightly from 0.4% to 12,123 points. At the same time, those on the Nasdaq and S & P 500 declined by 0.43% to 2383.50 points and 0 no credit check payday loans.4%, to 1277.50 points.

Keep 12,000 points

Clearly, the objective of the session will be to keep the 12,000 points, recovered yesterday thanks to the announcement of a stronger than expected U.S. growth in the third quarter. "On the month, Dow Jones, which had not changed over the 12,000 points since August 1, now displays the best month ever (no higher than 12% has never been seen in 115 years ), "said elsewhere Chrsitian Parisot at Aurel BGC. The euphoria of yesterday should calm down, to allow time for U.S. investors to catch their breath.

They should also keep a close eye on the latest developments in the management of the debt crisis in Europe, with details expected in the coming days on the plan adopted in the night from Wednesday to Thursday.

Growing concern over the debt of Italy

Posted by admin on October 25th, 2011

Berlusconi response. In a statement on Monday evening, the Italian Prime Minister was angry: "Nobody has anything to fear from the third European economy and the extraordinary founding of the European Union" which is the Italy. He added: "We honor our debt regularly, we have a primary surplus [excluding debt interest] more virtuous than we and our partners will achieve a balanced budget in 2013."

However, the prime minister called Monday an emergency Cabinet, to provide for new budget cuts. A decision under pressure from its neighbors, France and Germany leading the way. President Sarkozy, supported by Chancellor Merkel, had clearly stated on Sunday: "No way to play the solidarity if those we help are not their own efforts." Lacking only the name of the target country.But everyone understood.

Markets have a cold sweat

"Friendly advice" or insisting express condition of rapid assistance of the European Union (EU) and International Monetary Fund (IMF) in Italy? This second hypothesis has been swept by European leaders, merely to establish a powerful tool for playing a deterrent and prevent contagion of the debt crisis. Nevertheless, doubt has spread on Monday with confirmation from several sources, the European experts 'study' the option of a rescue of the Italian Treasury. Enough to make a cold sweat to markets and European leaders, the Italian economy weighs 2.5 times more than those of Greece, Portugal and Ireland combined, the debt reached 1.9 trillion euros.

However, unless the markets do not hurry the business, there is still no question that Italy is in the near future to help stop the EU and the IMF. Officially, nothing in the pipe. Support Fund for the euro area (EFSF) does in fact not the instrument that experts in the euro area, but shall give it already to be finalized Wednesday between heads of state and government. In addition, Rome has taken any of the three steps which may be imposed for such assistance: assent of the ECB, a general agreement of 16 other shareholders of the Fund (including Germany of course) and a motion for good standing of the part of Rome.

Humiliation

For the Berlusconi government, it would be a humiliation.Leaks on Monday evening seem so at first as an additional political pressure exerted on Silvio Berlusconi, that he arrived late Wednesday in Brussels with a credible plan of action.

The Italian leader has three days to do what he debate with its allies for three months. Berlusconi promised to Brussels to accelerate the pension reform, but is faced with its ally the Northern League. For now, his Cabinet was to consider other measures such as the auctioning of items of public property: barracks, buildings, land, beaches … The product will be used for debt of the state. Other possible measures are more uncertain.Yet another tax amnesty would bring back the money but would be very controversial; liberalization of certain markets, privatization of municipal corporations, reducing the lifestyle of the state, reform of labor law divide unions and parties. The road is very narrow.

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EU: 108 billion euros to bail out banks

Posted by admin on October 23rd, 2011

Creditor banks in Greece will have to accept losses "substantial" in the new bailout of the country, warned Saturday that the European Ministers of Finance. Last night, the central bankers of the euro zone had "agreed to say that we had to have a substantial increase in the contribution of banks" in the form of a depreciation of their claims, said the leader of European finance ministers, Jean-Claude Juncker.

• Discount of up to 60% of the Greek debt

According to diplomatic sources, the ministers agreed to effectively negotiate with the banks at a discount of "at least 50%" against a target of 21% decided on July 21 with the banking sector. They thus de facto endorsed the conclusions of an expert report which was presented by the troika of donor funds in Greece (EU, ECB and IMF).The paper believes that a discount of 50 or 60% hope to stabilize Greece without having to increase in the amount of gigantic international loans that have already been promised.

A "discount" is the term used in relation to the financial depreciation of the value of loans taken by creditors in this case private banks and investment funds that hold government debt. A discount of 50% borne by the private sector, the second program of financial support pledged July 21 to Greece, however, should be slightly revised upwards with government loans (Europe and IMF) to 114 billion euros, against 109 billion euros.To maintain the envelope of 109 billion euros unchanged, it would bring the discount to 60%, according to calculations by experts.

• Recapitalization of banks to the tune of 108 billion euros

The question is whether the banks that have so far dragged its feet to give the pot, will accept a negotiated settlement does not pass through a default of Greece. In return for the effort required on the Greek claims, there are plans to recapitalize banks in Europe. Following a meeting of EU finance ministers, this Saturday, in preparation for the summit Sunday, no agreement had been finalized on this point, due to the persistence of disputes.

"We have made some progress on the banks" and "we have laid the groundwork for an agreement" which will still be subject to "discussions between heads of state" and called for European governments to meet in summit Sunday said Swedish Finance Minister Anders Borg. Countries of the European Union are considering a recapitalization of its banks to the tune of 107 or 108 billion euros to help them cope with the crisis, has also said a source familiar with the matter.

But according to European diplomats, "there is no agreement on the recapitalization, it gets stuck a little payday advances." According to one of these diplomatic sources, "Spain insists on having a comprehensive, not only on the recapitalization of banks but also on strengthening the European Financial Stability Fund (EFSF)." On the other hand, "the ministers are trying to agree on the minimum capital."The European Banking Authority (EBA) has proposed that banks reach a level of capital of 9% by mid-2012. A diplomat acknowledged that some countries in the viewfinder of the markets, like Italy, Spain or Portugal, feared that the recapitalization will further undermine public finances.

• The Fund will not support a bank

Moreover, the French proposal to grant a banking license to the Fund support the euro area (EFSF) so he can refinance with the European Central Bank "is no longer on the table," said Minister Dutch Finance Jan Kees de Jager. Only two options are being discussed to increase the firepower of the device, he told reporters Saturday.These two tracks on the agenda now that the mechanism acts as a partial insurance of the public debt of countries in difficulty or higher participation of the IMF to the device, according to a German government source. But there is "significant differences between countries" on the issue, said Jan Kees de Jager.

How to leverage the capacity of the EFSF was the main sticking point between Berlin and Paris at the approach of the EU summit. France, worried about its budget deficit and are "triple AAA" prefer tap into the existing European funds, starting with the ECB. Germany, also sensitive to the separation of powers as inflation risks, refuses anything resembling a crisis by printing money in Europe.France was not only to advocate the involvement of the ECB, arguing that this system worked very well in the United States or Great Britain. She was supported by Spain, Italy or Belgium.

The European Relief Fund currently has a lending capacity of 440 billion euros, part of which is already committed for Ireland and Portugal. This envelope is considered insufficient to prevent contagion of the debt crisis in countries as large as Italy and Spain, increasingly in the firing line of credit rating agencies.European countries negotiate so hard for weeks on the best way, via a "leverage" to multiply by up to five response capacity of the Fund's financial debt of fragile countries.

(With agencies)

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The "outraged," Anatomy of an unstructured movement

Posted by admin on October 16th, 2011

On May 15 the "outraged" Spaniards camped in the square of Puerta del Sol in Madrid. Borrowing their name to the pamphlet by Stephen Hessel, they said they were inspired by the Arab Spring to shout their rebellion against the explosion of unemployment and austerity policies implemented by the government … Since then, the challenge has been extended in the rest of Europe but also overseas. Five months after the birth of the movement in Spain, in 82 countries is that these "outraged" will show this Saturday, October 15. Zurich to New York, to Rome, Tijuana, Hong Kong and Johannesburg, calls have been launched in 951 cities worldwide.

Their message to politicians and financial elites, as can be read on the site 15october, is: "The powers that be working for the benefit of some ignoring both the will of the majority that the price human and environmental we pay. This intolerable situation has to stop. "On the site of the movement Occupy Wall Street, the tone is the same:" The thing we all have in common is that we are the 99% who will not tolerate any longer the greed and the corruption of the remaining 1%. "In Italy, the program is summarized as follows: "Occupation of public places by millions of people who do not want to pay the enormous economic and social crisis in the place of those who have caused: political power industrial, economic and financial" .

No central authority

This day of action is to cross an important milestone in the movement, which now acquires an international dimension. "It was needed to make weight against the power of financial markets that operate on a global scale," says Sophie Banasiak, "indignant" Paris.

However, there is no central body to coordinate the different actions. "If the collective Democracia Real Ya played a leading role in the initial mobilization in Spain, he does not prevail, either in the capital of the country or world, Heloise said Nez, a sociologist at the University Paris 13.Many groups are working together, but none have hegemony over the movement horizontal and egalitarian aims. There is no visible head and outraged caregivers to regularly change the voice. "

"If someone asks you 'who is behind it', they reply: 'I'" retorted on those who seek the organizers. The spread of a city or country to another must be spontaneous, for emulation. A process greatly facilitated by social networks, where multiple keywords are emerging, such as "yeswecamp", "# yosoy15O", "# event15oct" or "# Globalrevolution" … "I do not even know exactly who launched the idea of ​​the October 15, recognizes Spyros, OccupyLSX supporter of the movement in London.We have seen that call for Saturday and it was inspired by the movement Occupy wall street to do the same thing here. "

Specific demands of each country

If dissatisfied with the world found common denominators, claims and complaints are divided again according to national issues. In Spain, Real Democracia Ya accent has been on the reform of the electoral law to end the two-party system as well as stopping the evictions of indebted owners. In Anglo-Saxon countries, it is mainly finance, pointed as responsible for the crisis, which is targeted. Witness the names of the movements that develop, "Occupy Wall Street" and "Occupy London Stock Exchange (OccupyLSX)." In Israel, the mobilization is the expensive housing while in Italy, the outraged refuse to pay "a debt they have incurred."But all these central issues do not prevent each protester to express other concerns. In Spain some point impunity surrounding crimes of Francoism and the United States is denounced police brutality or the death penalty …

Above all, each city retains its autonomy: information flows globally, but "decisions, they, are taken at meetings in every city, Banasiak said Sophie. Each city chooses its own way of decision. In Paris and Madrid for example, is the consensus. The international dimension does not change the fact that the essence of the movement is local: it is in the physical encounter and dialogue in the streets. "

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SNCF, RATP traffic will be disrupted Tuesday

Posted by admin on October 12th, 2011

Traffic in transit will be disrupted Tuesday, following the call for mobilization of CGT-CFDT, UNSA, FSU-Solidarity, denouncing an austerity program "unacceptable" the government and require "a different distribution wealth. "

With the exception of SUD-RATP, which filed a notice of indefinite strike on July 31, no organization has called to stop work in transportation. However, the CGT federation filed a notice to the RATP and SNCF, and SUD-Rail, to allow agents who wish to go forward.

Here are the latest traffic forecasts:

• At the SNCF

On the night of Monday to Tuesday, all night trains Lunea are deleted.The traffic on Artesia (France-Italy relationship) and between France and Germany will be normal.

Tuesday, more than 4 of 5 TGV will travel to or from the arrival of Paris, except for the TGV Atlantique trains close to 3 out of 5, and more than one train an average of 2 on the TGV province-province.

For Transilien, traffic at peak hours will average close to 4 out of 10 trains, and for TER, the traffic will be close to 2 of 3 services at the national level. Locally, the traffic will go from 4 to 10 trains on a near-normal traffic by region.

The station also provides an average of 2 to train Intercity day (including Teoz).

No Lunea (domestic traffic at night) will flow, however the nights of Monday to Tuesday and Tuesday to Wednesday. On international routes to night, no disturbance is expected to Germany and Italy.Traffic will also be normal day on the Eurostar (England) and Thalys (Belgium, Germany) and virtually normal on Lyria (Switzerland).

Other lines of Paris-Nord-Est and Paris will have a service close to two out of three trains, and those of Paris-Saint Lazare, Paris-Montparnasse and Paris-Lyon train in two.

• In the RER, RATP zone

RATP provides 3 of 4 trains on the line A and line B, a train of 2 during peak hours and a train of four off-peak hours. The interconnection will be suspended from Gare du Nord, but maintained at Nanterre Préfecture.

For portions of RER managed by the SNCF, the traffic will be normal to the line A (Nanterre Préfecture Cergy and Poissy) and Line E. There will be a train of two outstanding lines of the RER B and C, without interconnection to Paris Nord.On the line D, it will take two trains an average of 3 indicates the station, with interconnection between Paris-Lyon and Paris Nord,

• In the metro and bus in Paris

For the metro, the RATP provides a normal or near normal traffic on all lines except lines 5, 7, 7a and 9, where it will take between a train and two trains of 2 to 3.

Traffic will be near normal for buses, as well as on lines 2 and 3 of the tramway. For Q1, there will be a ream of 2.

• By Province

The strike notice was deposited in 39 urban transit systems, including Lille, Marseille, Lyon, Bordeaux, Toulouse and Strasbourg.Such notice having been filed in most cases by only one union, the traffic should be only slightly affected.

The notice concerning the networks of the following cities: Amiens, Angers, Angouleme, Belfort, Besançon, Bordeaux, Bourges, Caen, Cannes, Chambéry, Dijon, Douai, Lille, Limoges, Lorient (strike 55 minutes), Lyon, Le Mans, Marseille (strike 3:30), Maubeuge, Metz, Montlucon, Montpellier, Moulins, Mulhouse, Nantes, Nice (strike from 9 to 12), Nimes (strike 9:30 to 10:30), Pau, Poitiers, Reims, Rennes, La Rochelle, Rouen, Royan, Saint-Nazaire (strike from 10:30 to 14h), Strasbourg, Toulouse, Tours, Vichy.

• To monitor traffic

Hotlines are available to travelers by SNCF: 0805.90.36.35 the Main Line, TER, Téoz and Intercity, and 0805.70.08.05 for Transilien.

For traffic forecasts, two websites are available: www.sncf.com and www.infolignes.com for all traffic forecasts.

For the RATP, is the number 0800.15.11.11.


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