The market is also hampered by the failure of negotiations in the "super committee" responsible for the debt of the United States payday advance. The twelve members of the joint committee, composed of six Republicans and six Democrats were responsible for the deficit of 1200 billion and had until midnight Wednesday to share their findings.

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.

Iceland began on June 27 last formal negotiations to enter the European Union. At the end, Icelanders will vote in a referendum.The challenge for the small island in the far north that is just three years of severe recession, is to join the single currency.

The debate in Reykjavik is far from settled, including the center-left coalition government, like the Minister of Economy Social Democratic supporter of the euro and its counterpart of Finance defends the virtues of the crown.

"The devaluation of over 40% has boosted the competitiveness of our exports. The gain exceeds the final cost. Unemployment would have been much worse, "says Green Minister Steingrimur Sigfusson. With two key economic sectors: aluminum and fishing account for 80% of exports. In this land swept by the waters and winds so imposing nature, the farm lobby and fishing make their voices heard. They reject the decisions of Brussels and its quotas.Yet, in fact, Iceland is already integrated into the European Union.

The case "Icesave" three years ago that poisons relations with Great Britain and the Netherlands also maintained Euroscepticism. The State has spent 15% of GDP to save its national banks but refused to compensate the foreign customers of the bank Icesave, bankruptcy. An early decision of the European Court of Justice could force Reykjavik to set the slate of 8 billion euros. "The bank Landsbanki has the means to repay by selling its assets revalued since the crisis," said the minister.

Indebtedness

Three years to regain control of the IMF, the economy drastically, radical restructuring of the banks have put the country on track for growth, helped by a crown devalued on line pay day loans.In the field, if the maintenance of a welfare state and the strength of social ties, related to the geography of the place and its small population, have reduced the impact, the crisis is far from over. Reflecting Hildigunnur Sverrisdottir, 35, architect, married with three children. "We are living a nightmare, every month, our debts pile up, we have no visibility and perspective," she confesses.

This family alone synthesizes all the symptoms of the crisis Iceland: Hidlig lost his job after the explosion of the housing bubble, the couple bought a house at full price. They chose a loan in foreign currency – yen, Swiss franc and euro – more attractive as deemed stable and offering lower interest rates. This not to mention local specificity to index mortgages on inflation, which reached its highest, 18%.Result, many Icelanders have seen the value of their loans soar. "In my generation, everyone has lost an average of 10 million crowns," says Hubert Koziet, who suffered a pay cut and an increase of one third of its credit.

Unable to repay their credit, Hidlig and her husband were offered a government program, reserved for owners 13 .500, which is to cap credit 110% of the value of the dwelling and convert crown. "We do not know what to do, we are still negotiating with our bank, we do not rule out leaving the country. Many of our friends, architect, engineer, accountant … went to Denmark and the United States. "

Counter the brain drain and attract new investment, are the future challenges for sustainable growth in Iceland. Because the economy remains crippled by capital controls and political instability.Ironically, today is not money that is lacking in the small island – banks are full of capital that the Icelanders and businesses could exfiltrer abroad – but it suffers from a lack of confidence in the future and the political elites.

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Bluff or not, this threat reveals the uneasiness of the Federation kiwi affected financially by the organization of the current World Cup. Certainly, the event is almost historic land of the long white cloud. But the financial benefits expected from this great mass of world rugby is limited. In the end, New Zealand will lose even money (about 39 million New Zealand dollars, or 22.33 million euros).The New Zealand government will pay part of the losses, but the federation itself will also put their hands in the pocket to the tune of two thirds of the money lost.

Shortfall of 7.5 million euros

However, these losses are organizing a one-time difficulties. Because the real malaise lies elsewhere. Steve Tew, it's participation in the competition itself that is the problem. Every 4 years, federations qualified in the northern hemisphere and the south need to change their schedule (suppression test matches, shortening the Tri Nations tournament …). What cause a shortfall in terms of result and television advertising revenue and ticket sales. This year's Tri-Nations tournament, in which compete each year in New Zealand, Australia and South Africa, for example, was reduced from nine to six games due to World Cup.In Europe, the fall tours were also canceled.

In a World trade rules of the International Rugby Board (IRB) also prohibit the presence of the sponsors of the national federations. This accentuates the downward pressure on commercial benefits. In the end, the Federation of New Zealand (NZRU) said the shortfall related to participation in a 13 million New Zealand dollars (7.5 million). Great on a budget of around 55 million euros. A price she can afford all four years, according to Steve Tew.

If they win the All-Blacks, the players would receive such a bonus of 55,000 euros, depending on the site sportune.fr. Barely more than the French players to touch the earth just move in New Zealand (45,000 euros).If they win the XV of France, the French would also reward of 180,000 euros extra.

Australia to support

In his threat to boycott, leaders of New Zealand have received support from their neighbor Australia. For its part, the Australian Federation (ARU) said the losses associated with participation in the World Cup to 16 million Australian dollars (about 11.5 million euros). All federations combined, the overall shortfall would reach between 35 and 40 million pounds (40 to 16 million euros). "As noted by Steve Tew, the current economic model is unacceptable and can not be encouraged," said the general manager of the ARU, John O'Neill.We ask the IRB to resolve the problem quickly, because as a national federation, the ARU can not afford to have huge losses every four years. "

For many, the threat of New Zealand is not serious, its national team can not really do without the visibility provided by the participation in the World Cup. But the argument did fly, the IRB had promised the opening of discussions after the World Cup to avoid a radical decision.

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"Uncertainty" was in this context, the key word of the monthly press conference of ECB President Jean-Claude Trichet: "There is a huge level of uncertainty in the world." The risk is now the forecasts rather than the ECB may be too optimistic, he implied. And, because of the negative effects of the crisis in financial markets observed this summer and the debt crisis in the euro zone in particular.

After a good start to the year, growth "will be very moderate later this year," warned the president of the ECB. Consumption may be lacking. "Unlike recent months, the ECB no longer considered as the confidence of consumers and entrepreneurs will support domestic demand," says Ken Wattret, chief euro zone economist at BNP Paribas. In the early morning, the Bank of France has published growth prospects for the Hexagon journals also down for the third quarter (0.1% versus 0.2% previously).

For inflation, the ECB has not touched its projections. It still expects 2.6% price increase in 2011 and 1.7% in 2012. As the guarantor of price stability in the euro zone estimated a few months ago that inflation was under pressure, it recognized that today the risks were "balanced."A code word meaning that it did not expect an acceleration in prices in coming months. It therefore left unchanged its interest rates, it increases instruments when it believes that inflation is accelerating payday loans lenders.

Despite the alarmist tone about the economic environment, "we do not think that the ECB will lower interest rates anytime soon," said Cedric Thellier, economist at Natixis. "We expect a rather long status quo accompanying amorphous growth and low inflation."

The rush of blood against the United States of Trichet

Questioned by a reporter relaying German criticism against the alleged lack of independence of the ECB under the European Treaties, Jean-Claude Trichet has lost some of his cool. "We're doing our job, which is not easy," he said."Our mission is to ensure price stability, what we have done so impeccable. I'd love to hear praise for the work today! "He exclaimed.

Some German observers, very attached to monetary orthodoxy, condemned the purchase of bonds by the ECB. "If we had to implement this program, because states have not acted properly. He did not exercise sufficient oversight they should have. Remember, in 2004 and 2005, some governments-France, Germany and Italy, not to name-calling for the relaxation of their obligations "deficit, he accused. "We have always asked the contrary full compliance criteria deficit.But we have not preached in the desert. "

In this context, Jean-Claude Trichet reiterated, on behalf of the ECB, the extreme urgency for the States to implement measures to restore the balance of public finances. "Governments must be prepared to cut spending if targets are not met," he said. He also called for the deregulation of regulated professions.

The debates will be difficult if one relies on the controversy that shook the majority in recent days about the increase in VAT on new theme parks. The revolt, led by former Prime Minister Jean-Pierre Raffarin, has also occupied much of the UMP conversations on campus this weekend in Marseille. And leads to development of François Fillon during his closing speech."Nothing is taboo and nothing is left," said the Prime Minister as an open … before closing the door. "The government is open to criticism and amendments, provided they do not involve the amount of effort or their balance, he warned. Consumption, business competitiveness and purchasing power of smaller should not be affected by the adjustments to be proposed. "

Competitive threat

To compensate for the 90 million shortfall in the expected drop – Finance Committee voted and announced by Jean-Pierre Raffarin following a meeting with Nicolas Sarkozy – the measure "theme parks" Gilles Carrez, the rapporteur of the budget UMP , offers a flat rate tax on luxury hotels room rates. An alternative measure already opposed by industry lobbyists.Frédéric Lefebvre, Secretary of State for Tourism, that the tax court "would deal a blow to the competitiveness of French tourism." At Bercy, it also highlights the fact that hotels could circumvent the tax by asking to be downgraded. As managers of the establishments referred, they fear that their net worth "going to other capitals cheaper." Who said it was easy to delete niches in France?

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In July, Crédit Agricole said that the participation of the bank in terms of aid to Greece and the operations of its subsidiary Emporiki, the country would have an impact of up to 850 million euros on its performance in the second quarter. Finally, the load is lighter than expected: Greece does not cost "only" 640 million euros on quarterly Credit Agricole. A load that is distributed as follows: 202 million euros (146 million after tax) for impairment of securities of the Greek states and 494 million for the goodwill of the Emporiki Bank (2006).However, the debt problem gecque led the market value of Crédit Agricole in a dramatic decline: its stock has lost nearly 35% of its value since the beginning of the year.

These results confirm the long-term goals

As for results, the bank has indeed announced Thursday a net profit after minority interests fell by 10.6% to 339 milion euros in the second quarter versus the same period in 2010. But this is higher than expected by analysts who had forecast a quarterly profit of 193 million euros. BNP Paribas and Societe Generale were published at the beginning of the respective benefits of 2.12 billion euros and 747 million.

According to the CEO of Crédit Agricole Jean-Paul Chifflet, these results confirm a positive underlying trend at the operational level of the bank, in the 2014 strategic plan, presented last March. The group aims to achieve a return on equity of 10% to 12% by 2014. The bank would also surpass the 25 billion euros in net banking that date.

In the medium term, Crédit Agricole has no plans to increase the capital despite the market turmoil in July and August, denied the report, published Wednesday in the Letter of expansion of 1.5 billion euros, dedicated the recapitalization of its subsidiaries in Southern Europe. However, the group recognized that its goal of returning to profit for Emporiki Bank in 2012 would be compromised.

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Madrinlène the crowd, arriving in six processions of all the districts of Madrid, gathered near the parliament in the center, opposite a row of blue and barriers to a dozen police vans blocking the road.

"Against unemployment. Organize yourself and fight. Let us march together against unemployment and capital, "proclaimed one of the great signs that punctuated the procession in Madrid. "We are not commodities in the hands of politicians and bankers," said another banner in red letters.Under the slogans, demonstrators of all ages, families with strollers, young, unemployed and retired, came to testify of the same tired response to the crisis that is strangling the Spanish company.

Unemployment and corruption

Protesters targeted the Stability Pact in the euro area and its imperatives of fiscal discipline, politicians accused of corruption and not the voice of citizens, unemployment hitting 21 easy to get unsecured personal loans.29% of the workforce in Spain, almost half the age of 25.

"We must prepare for a general strike. We will paralyze this country, "said a speaker at the microphone."Banks and governments that have caused this situation should be aware that we do not agree with the measures and budget cuts, we intend to be heard, and that we will," assured the flat platform calling for demonstrations across Spain.

Broad popular support

Tuesday, June 13, the "outrage" had dismantled their camp from the Puerta del Sol in Madrid, a symbol of this wave of protest. Enjoying broad popular support, they now want to consolidate their movement through the neighborhood assemblies and other occasional events.

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In a statement, Publicis Groupe justify this choice, beyond the managerial issues, indicating that Maurice Levy "can continue to guide the group in the revolution that shook the world of communication, including the rise of digital and Emerging Markets. "

He joined Publicis in 29 years, CEO since 1975 and CEO since 1987, Maurice Levy is undisputed artisan of the internationalization of the advertising group and registration, before its competitors in the digital age. The successive acquisitions of the two largest interactive agencies in the world, Razorfish and Digitas in 2006 in 2009, have accelerated the molting of Publicis, which now claims leadership in digital communications (28.2% of Group revenue in the first quarter 2011)."We're way ahead of our competitors," Maurice Levy repeats. His group has also recently illustrated by holding the end of May in Paris, the first eG8, visit the worldwide web of tenors.

Jean-Yves Naouri prospective

The offensive Publicis very proactive in digital has enabled the group to outperform its peers in 2010, with organic growth of 8 No teletrack payday loans.3% – when the world's leading WPP posted 5.3% and number two, Omnicom, 6, 4% – a record profit of 526 million euros (+30.5%) and a turnover of 5.4 billion (+19.8%). The group's financial position (106 million euros in cash and a positive end-2010 debt reasonable) allows him, moreover, continued serenely its strategy of targeted acquisitions in the digital sector and emerging countries, including Brazil and China .Last month, the group acquired the Rosetta for a U.S. $ 575 million.

Asked yesterday about future developments, Maurice Levy has ruled out a bid to redeem his group Synovate, the market research subsidiary of Britain's Aegis and Publicis said was however very soon announce the result of "some projects" under discussion in China that will provide "fairly significant changes." Publicis wants to make its second largest market after the United States. On his estate, which he did not directly question yesterday, Maurice Levy has already given indications. In late March, he appointed Jean-Yves Naouri, his closest associate and CEO of Publicis Group, the Executive Chairman of Publicis Worldwide, the leading advertising agency network of the group next to Leo Burnett and Saatchi & Saatchi.Maurice Levy few years to confirm it or not, his status as heir apparent.

However, his resignation of the head of the Bundesbank announced in February and took effect two days, deprived of Germany is a serious candidate for the leadership of the European institution.Therefore, it would place in Germany pawns in other international forums, to compensate for a candidate with an image Italian lacking firmness in terms of public finances.

Weigh its importance in the conduct of monetary policy

While last Friday, the German support to Mario Draghi seemed acquired, ask the Chancellor makes first several positions for his countrymen, to ensure that weigh as much weight as possible in the euro area and in stabilizing the single currency in a context of soaring against the greenback payday loan lenders.According to Der Spiegel, the new president of the Bundesbank, Juns Weidmann, would seek the presidency of financial stability, while Jörg Asmussen, the Secretary of State for Finance, would take charge of the Economic and Financial Committee of the Union European Advisory Committee, which prepares the work of the Council of EU Economic and Exchange Rate. Something to pass the German ideas, deemed inflexible in terms of monetary orthodoxy.

The mandate of Jean-Claude Trichet is due to expire in October 2011, but the name of his successor should be known as early as next June, at a summit scheduled for the EU.

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