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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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"2009 has been loaded, 2010 will be equally dense" warned Friday Nicolas Sarkozy during the presentation of his wishes to the social partners. After congratulating unions and employer representatives for their "spirit of responsibility in the crisis, the head of state has listed the main projects of 2010 on social issues.

Unemployment in particular, "will be at the heart of our action in 2010," he announced, as well as the management of addiction, "fifth social risk. The job priority for the coming year, so even if the head of state welcomed the positive results already achieved in this area. "Unemployment, with the exception of Germany, grew everywhere more than France.I do not satisfy, but if it was the opposite, which would be responsible? I have an idea … "

"The major problem of our social protection

As previously announced, 2010 will also be an opportunity to address pension reform. "It's been 50 years that we gain a quarter of life expectancy per year. This progress requires us to make decisions, "he said. Moreover, "the French are not mistaken, three quarters are concerned about their retirement. In this area, the head of state warned it will take account of the arduous work. "It's a defect French confusing equality and uniformity," he explained, suggesting that retirement may not be recognized for all the same.

The Head of State had previously commended the social partners for their spirit of responsibility during the crisis.A speech already supported by Francois Fillon during his vows to the press, and a way to encourage social partners to continue this work in 2010 for the implementation of further reforms, and in particular, thorny pension . "I do not believe in our social history, we've already had a social dialogue as dense," he noted as well. "Rather than fan the flames, everyone had to heart to find solutions to the ills that affected the French," thereby achieving "a form of maturity of our democracy." "Our duty is to tell us" he meant well.

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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While the inaugural flight of military transport aircraft A400M has just taken place, the boss of aerospace group reported ambitious goals, with the hope of doubling turnover in ten years alone. "We want to double the turnover of 43 billion currently to approximately 80 billion by 2020," says Louis and Welsh, president of the European group EADS, in an interview published Monday by the German newspaper WirtschaftsWoche.

Additions to the services area

Such growth can not be fully carried out internally and should pass through acquisitions, particularly in the services sector. "I see, for example, a potential for services generate 20 to 25% of turnover. Today we're at a little over ten per cent. There are services such as maintenance, training and repair.We want to add new services, "said Louis Welsh.

EADS CEO also said that no decision has yet been arrested for his participation in the tender for the renewal of the American fleet of refueling aircraft, which represents a potential market of 50 billion dollars. "We never said we should abandon the game, only that we had concerns about the current process of bidding," says he.

Northrop Grumman's partner, EADS, announced last week that he would not participate in the tender launched by the Pentagon, believing that the requirements of the contract favored Boeing in the current state of things.

EADS shares gained 1.5% to 12.55 euros on the Paris Bourse at about 11:00.

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This is Bertrand Delanoë, Mayor of Paris, which has reignited the debate. In a letter to Eric Woerth November 17, he "drew attention" of the budget minister on charges that the state charges the communities for the collection of local taxes and he wants to be "put an end to a situation unsound. "

To understand what it is exactly, we must consider the complex relationships that are formed between the state and municipalities, counties and regions in the field of taxation. The tax, at Bercy, is responsible for the communities of calculation and collection of the housing tax, property tax and business tax (TP). In exchange, the state gets a share of local taxes paid by households and firms, namely 4.4% of the amount for "cost of assessment and recovery.Moreover, the State takes a second "commission", set at 3.6% local tax (excluding tax housing the primary residence). These "adjustment costs and non-values". By what justification does it? By the fact that when a taxpayer pays a tax less burdensome than the regular rate because, for example, its low-income (and therefore entitled to relief), the State compensates for this shortfall to municipalities, counties or regions. Overall, with these two committees, 5 billion leave the funds in the state and communities and beyond. In a region like the Côtes-d'Armor, costs were 12.24 million in 2008 out of local taxes of 169 million, a levy of 7.2%.

Inextricable relationship

In Paris, the bill reached 185 million in 2008 and 215 in 2009, a levy of 6.4%.And most importantly, after its mayor, "the total amount collected from taxpayers Parisian clearly exceeds the costs actually incurred by the State for these operations." Bertrand Delanoë supports its contention on the last annual report of the Court of Auditors, which denounces billing on the first commission. At 4.4%, the costs of assessment and recovery are very remote from the actual costs of administration for the State, the Court amounts to 1.75% on property taxes. In 2006, an audit report of modernization precisely estimated these costs at 1.9% for property taxes to 3.86% for the housing tax and 0.9% for TP. "The State communities overcharged 1.3 billion euros a year," says rebels on the Assembly of departments of France (ADF).

Nevertheless, the Court of Auditors in its report explains that the Second Committee, on the rebates … is it under-billed.At Bercy, it says the same thing and adds that overall, the balance is negative: "The state pays 16 billion of relief to communities and supports 2 billion cost management. But it only pulls 5 billion of total costs. "

On the community side, this argument makes leap. "The government will decide on tax concessions. It is normal that the state compensates us! "Storm-t-on to the Association of Mayors of France (AMF).

Reforming the business tax may resolve this dispute. To compensate for the loss of revenue, local governments should recover 2.1 billion cost of assessment and recovery. The cursor could even climb to the Senate. Finally, the only gain nothing will … taxpayers.

"Sarkozy denounces the" fiscal insanity "in regions