Papandreou prepared to withdraw his referendum and the new president of the European Central Bank, Mario Draghi, who announced lower interest rates in his first press conference in this position. Is good news that financial markets have welcomed yesterday and continue to welcome Friday. The atmosphere remains febrile. Investors are still suspended to changes in the Greek case.

The Greek government plays its survival tonight in Parliament in a vote of confidence but the fate of Prime Minister George Papandreou seemed sealed after the failure of the referendum proposal.The composite index rose to 46.5 points in October against 49.1 in September, according to a second estimate published today. The index had fallen below 50 points in September for the first time in two years, signaling a decline in activity. In detail, growth slowed in October in Germany, but contracted in France, Spain and Italy. Ireland is the only other country to report an increase in its overall activity in heavily penalized octobre.Alcatel-Lucent

On the corporate side, the ball of publications continues.

After having dropped more than 2% just after the opening, Alstom quickly regained balance and advance 0.78% to 27.71 euros in mid-session.

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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Elsewhere in Europe, financial markets have ended in no particular order: the Dax in Frankfurt Stock Exchange gained 1.10% to 5639.58 points while the London FTSE lost 0.40% to 5196.84 points.

U.S. GDP revised upward

At this good news were added two macroeconomic indicators on encouraging U.S. economic health in America no fax payday loans. The weekly jobless claims fell in the week to September 24, at 391,000 against 428,000 the previous week. In addition, the gross domestic product (GDP) was U.S. revised upward for the second quarter, up 1.3% of gross domestic product.

In this context, the industry finally has clearly supported the Paris stock exchange.The three main French banks and post three of the four largest increases in the CAC 40. Societe Generale rose 5.82% to 21.08 euros, BNP Paribas has acquired 5.01% to 31.14 euros and Credit Agricole rose 4.37% to 5.40 euros. The insurer Axa also benefits from this renewed optimism, the title winner 2.85% to 10.28 euros.

EADS, which has won more than 4% over the last two sessions, continued to grow after that Airbus has won its bid on the Danish Satair, gaining 96.7% of the company. The stock rose 1.50% to 21.59 euros. For its part, EDF announced an order for 44 steam generators for nuclear power plants of 1300 megawatts and French gains 1.40% to 22.13 euros.

• Outstanding on high incomes. The project of the Government expects that this new 3% tax will apply to much of the income exceeding EUR 500,000 per year for a single person and € 1 million for a couple. But MPs want to lower these thresholds. And Valerie Pécresse reiterated today that it was open to discussion.The government would accept an entry threshold to 250,000 euros to 500,000 euros a person for a couple. The income taken into account when calculating the contribution is the income tax reference. Income that includes not only wages but also the interest, dividends, capital gains. Moreover, only taxpayers whose average income over three years will exceed the thresholds will be taxed at the new tax. This is to prevent a dealer who sells one years his business is taxed. The contribution will apply for the first time on the income of the year 2011 and will stop when the public deficit back below 3%, ie in 2013, in theory.

• Tax on soft drinks. This tax, applicable from 1 January, will involve drinks containing added sugars such as sodas, fruit juices with added sugar and flavored waters.Drinks "light" will be spared. The tax will be 1 cent per can of 33 cl

• Plane niches. The tax loopholes planed last year will be again 10%. A tax reduction of 22% will go to 20% for example, a 20% to 18% … etc. Among the niches that are most used planed, there are advantages or overseas tax credit for environmental equipment housing. This plane will be applicable for the taxation of income in 2012 for expenses paid from 1 January 2012. Like last year, niches related to employment, including the employment of an employee at home will be spared Business Card Holders.

• Niche Scellier and other devices for real estate. The Scellier reduces their income tax by investing in housing that is then leased under certain conditions.The tax reduction Scellier suffer, in addition to the plane, a turn of the screw. It will fall to 14% of the investment as of 1 January 2012, against 22% this year. It will be for housing low power consumption and housing accompanied by a renewed energy label demanding. The benefit granted to individuals who invest in a tourist residence for elderly and disabled and for students from 18% to 12% in 2012.

• Tax on rooms good. This new tax will only apply to homes under 13 square meters. It will apply where the rent per square foot exceed a certain threshold (40 euros per square meter in Paris). Its rates range from 10% to 40%.

• Eco-interest loan.The zero-interest loans dedicated to work improving the ecological quality of housing will be combined with the tax credit for the same type of work for taxpayers whose income tax reference does not exceed 30,000 euros per year. The tax credit will also be revamped.

• Tax credit for elderly and disabled. The tax credit of 25% on expenses related to improving habitat for elderly and disabled is extended until 2014.

• Carbon Tax new version for manufacturers. Undertakings subject to CO2 quotas in 2012 will pay a fee between 0.08% and 0.12% of their turnover. Will be exempt small emitters (quotas for less than 60,000 tonnes of CO2 per year). Electricians (mainly EDF) alone will pay one third of this tax.

• Other measures for businesses.Telecom operators will finance up to 2 million expenditure to avoid the jamming of TV DTT frequencies mobile fourth generation. The reduction of one third of the benefits enjoyed by overseas companies is removed.

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Called "Go Forth" (On the Move in French), signed by the advertising agency Wieden + Kennedy American, calls young people to take their destiny. The message is reinforced by the recitation of a poem by Charles Bukowski, The Laughing Heart, to the very explicit (your life is your life / do not be discouraged by a tender moist / Be on the lookout)."Because of what's happening in the UK, we have temporarily postponed the release in cinemas and on Facebook in the country," said a spokesperson for the brand with the Daily Mail. He added that "Go Forth to embody the energy and events of our time. She does not speak of a political movement or a specific theme, but rather evokes optimism, positivism and the entrepreneurial spirit. "

The spot has also been removed from the official Facebook page for the brand. "We have all witnessed the recent events that took place in London and other cities in England. It is difficult to see a glimmer of hope amid the violence. But looking good, you will see it paperless payday loans. Not one of the riots and chaos. But through its citizens who take the broom to clean up their cities. It is through their pioneering spirit that make change possible, "says Levi's on Facebook.

Stunt involuntary RIM

Although the jeans manufacturer is trying to detach events, riots in London have a real spotlight on its new advertising campaign. A promotion that seems to also affect involuntary RIM, the maker of BlackBerry. His courier BBM, which equips its phones, known for providing a guarantee of confidentiality of trade, is on everyone's lips. Indeed, it would play an important role in organizing the riots. The British press also devotes a large part in deciphering the events.

But this stunt could serve the image of RIM on the UK market.Already some voices calling for the closure of the service in England, prompting the direction of the Canadian manufacturer to announce, without further detail, cooperation "with local telecom operators, the police and government" of the country if so requested.

This collaboration could involve the closure of the service. The risk is important for the Canadian manufacturer that could alienate her young local clientele. According to a study released last week Ofcom, the BlackBerry is currently the favorite of the English smartphones of 16-24 years (37%) to the iPhone (25%).

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As tradition dictates, S & P has informed earlier this afternoon the Treasury's decision before making it public. This is usually an opportunity for the government to point out any factual errors. At this meeting, U.S. officials soon discover that the projections of S & P over ten years the budget deficit and public debt do not coincide with the figures of the executive, from the work of the Office of Congressional Budget (CBO).The U.S. public debt stood at 93% of GDP in 2021 instead of the expected 85%, a difference of two trillion dollars.

Standard and Poor's emphasizes the "political risks"

Faced with protests from the government, the rating agency starts with defense. She claims to be part of the work of the CBO, a retaining projection "alternative" of government spending, considered more realistic. After discussions, however, she agrees to return to the initial forecasts. The Treasury advised her to give himself time to review the numbers cold.

Far from judging, Standard and Poor's does not reverse its decision to lower the rating of the United States to "AA +" with 'Negative' outlook. The agency submits a new version of its release to focus on "political risks" to see the country taking insufficient measures against its budget deficit.In another statement released at night, she explained that the correction of the error has changed only marginally forecasts of debt in 3 to 5 years to come, "decisive" for its decision. "This is a technical error, no serious consequences," says one within the agency payday loans for bad credit.

According to S & P, the political debate on these issues in the United States is indeed not up to the problems caused by a debt of more than 14,500 billion.According to a U.S. government source quoted by CNBC, this episode proves that the decision by Standard and Poor's was taken regardless of the numbers, while revised data showed that the deficit would be sustainable over the next ten years.

"Latest victim of the failure of Obama's economic"

The rating agency had in fact warned in mid-July the Obama administration she wanted a deficit reduction of 4 trillion dollars over ten years to maintain the triple-A, instead of hard-won 2.1 trillion. John Chambers, President of the Evaluation Committee of S & P, also found on CNN that Washington could have prevented the lowering of the notes within the ceiling as soon as the statutory debt.He said the responsibilities were shared by the Administration and Obama, but also "the previous administration."

The first political reaction in Washington have shown just block pointed to by S & P. Mitt Romney, candidate for the Republican primary for the 2012 presidential election, has described the downgrade of American "latest victim of the failure of Obama's economic" and the Republican president the House of Representatives "consequence of uncontrolled spending in Washington in recent decades."The Senate Democratic leader, Harry Reid, has instead called for "a balanced approach to deficit reduction," with lower costs but also increases targeted taxes, it rejected the Republicans, under pressure ultra-conservative "tea parties" in the recent discussions on the debt.

(With branches)

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Faced with the collapse of record sales, artists tend to want to catch up on their live performances. In recent years, the stamp of a headline average doubled from 100,000 to about 200,000 euros concert . Two years ago, the claims of artists such as rock bands Radiohead and the Arcade Fire could reach 500,000 euros a night delivery. A luxury that the Route du Rock, after more than 20 years of existence can not afford.Especially since the philosophy of the festival "has always been focused on the discovery of new talent," says its director.

A total of 340,000 euros per year are devoted to the artistic, or just over 19% of the annual budget of the event. Festival Rock en Seine in Paris (from 26 to 28 August 2011), this percentage reached 33% on a budget of 6 million, for a festival attendance of 105,000 in 2010.

Few artists have their own agents

To perform their scenes, organizers go through the special agents of the artists. But in most cases, they must go to production companies (the "turners") who sell the show, usually including travel, by winning 15% of the sale. Remains the responsibility of organizing the cost of hotel and catering.The financial balance of a music festival, big or small, is always delicate balance between inflation of stamps and need for headliners known to attract an audience often more sensitive, especially in times of crisis, to "safe bets".

Especially as competition from large foreign festivals like that of Open'er in Gdynia (Poland), heavily sponsored and line art more variable, contributes to the inflation of the claims of artists and the business side of an event. This year's Route du Rock will receive about 17,000 spectators to reach its equilibrium point. To get to lower costs artistic, the organizers can sometimes rely on the recognition of certain groups. This was the case last year, where the rock band The National has made a financial investment for their third participation in the Route du Rock, who has made known in France in 2005.But these returns elevators are rare, "artists tend to quickly forget their ideals of youth" deplores François Floret.

Artistic expenses under pressure

More confidence in the festival of the summer Vaour (Midi-Pyrenees), the artistic budget does not exceed 28%, 5% for the music (about 10,000 euros). Again, the trend in the price of contracts bought production companies are on the rise. No need to be an international star in setting its prices. "We can see, especially for groups that have no problems selling dates, says Sylvie De Sousa, in charge of music programming of the festival that drew in 2010, 18,000 people in nine days. Those who have more difficulty selling their shows make an effort. " The average cost to the organizers groups received between 800 and 1300 euros per service.And the festival should be more attention to his artistic expenses, some concerts are free.

Finally, the last festival that highlights specific financial issues, the uniqueness of the service provided. Artists to bring only one date is in fact a greater financial effort, where the organization of a tour allows you to spread fixed costs over several dates. A show to 1500 euros per day on tour will be up an average of 4000 euros for a single date.

Theater festivals are much more subsidized

In terms of theater festivals, the financial efforts of the programming is even greater. "Music festivals generate more ticket revenue for those plays, because they mobilize a public far more numerous. Which is also the case for ancillary revenues (bar, derivatives).In the end, the part flow from music festivals, especially the general public is much stronger, "said Jonathan Fox, the head of the theater program of the festival Vaour. In addition, the confidential nature of the discipline is also in this sense, although of lesser importance.

On the other hand, the troops come for several performances, which smooths the cost over several days. Ultimately benefits of a theater festival like the summer of Vaour range from 500 to 3000 euros, "the notoriety aspect of the company also playing its role," says Jonathan Fox. By comparison, a one-man show in Paris like the comedian François Rollin costs between 5,000 and 10,000 euros. These characteristics explain why the sector is generally far more subsidized. For example, 22% of the budget of the festival of the summer of Vaour comes from public subsidies.

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While the group had mid-June, revised down its operating income to 35% in France, it now expects a decline of 23%, due "mainly to France."Lars Olofsson said that "Carrefour has set up an action plan in order to achieve the target set by the Group to grow its sales and EBIT in 2011."

Uneven performance in France

In France, the performance is mixed. Lars Olofsson deplores a "unsatisfactory performance of hypermarkets," whose sales are down 3.3% excluding petrol in the second quarter and adjusted for the calendar effect, after falling 1% in the first quarter.

However, Carrefour welcomes the performance of its stores. Carrefour Market and saw its sales grow by 1.3%. As for Carrefour Planet, "the four stores models continue to show sales growth in double digits."The group said that "the deployment of 21 new stores in the second quarter Planet is broadly in line with the plan, these new stores outperform those of our traditional hypermarkets in Spain and Belgium in particular."

Abroad, the decline continues in Western Europe (down 2.1% in the second quarter and 2.6% in the first). The activity in Belgium, however, displays a successful turnaround, with sales growth of 10.1% in hypermarkets.

Emerging markets are, in turn, still the group's activity. Latin America was up 11% at constant exchange rates, excluding petrol and adjusted for the calendar effect. In Brazil, where Carrefour battle as to marry the first retailer in the country, sales rose 10.2%.In Asia, growth remained at 5.3%, with an increase of 8.3% in China.

In exchange, Carrefour began declining after the announcement of these results. After losing 3% on opening, the title was eventually closed up 1.52% to 22.325 euros in the last trade. The CAC finished up 0.51%

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The French only lip though not the European Union on all fronts.Their trial against him is even more mixed: 30% of respondents, hope is the first feeling evoked by the EU for them. But for 29%, the disappointment! For some aspects, the EU is their protective: for three quarters of respondents, it ensures peace, and for more than half, it makes France more strong against the U.S. and China. But in parallel, 60% of French believe that the term unemployment "corresponds to the EU, and for more than half, it accentuates the problem of immigration.

While the conditions of the plan of aid to Greece should be discussed again, the French are also mostly favorable for financial support to countries in difficulty, "even if this represents a cost to France." Only 39% believe that France did not pay for others.Overall, respondents call for a Europe of solidarity, more involved in the fight for employment, purchasing power and welfare. "The French are not skeptics, they just want Europe to change," concludes Laurent Wauquiez Monday.

* This survey was conducted for the Foundation for Political Innovation (Fondapol) from April 15 to 21 among a nationally representative sample of 1500 people aged 18 and over (quota method).

Since March 6, 2010, the date of an initial consultation, the question arose on the repayment to Great Britain and the Netherlands of compensation paid at the time of their nationals Icesave victims (about 340,000 savers). Totaling over $ 3.9 billion. A financial burden that Icelanders have refused to take in view of the first results of the referendum held Saturday, April 9.

"No problem to solve our debts"

According to figures virtually definitive, non prevail widely, with 59.1% of the vote, against 40.9% of voters in favor of yes. Certainly, the rejection is much less massive than a year ago, Icelanders have been 92% to vote against the assumption by the State for damages caused by international private banks. However, the consequences seem equally or even more complicated for the government in place since 2008. Iceland had indeed engaged in December last year to repay the Netherlands and Great Britain, all amounts advanced to their injured citizens.To plan would run from 2016 to 2046.

Already, even before the final election results, the Dutch Minister of Finance Kees Jan De Jager said he was "very disappointed" by the decision of the Icelandic people do not accept the agreement between the three countries to try to resolve a situation that has become almost inextricable. For British and Dutch side, no question that the matter ends there, whereas the two countries now that the litigation must be brought to justice.

In London and The Hague, the respective Ministers of Finance are studying the possibility of litigation to settle the case before the EFTA (European Free Trade Association). A first procedure had already been initiated by the Netherlands to that authority, then stopped to allow the three countries to negotiate the terms directly agreed.With the refusal of the Icelandic people Saturday "the negotiation stage is over" said Niels Redeker, spokesman for the Dutch Ministry of Finance. He thus echoes the English Treasury number two, Danny Alexander, who considers "disappointing" that the negotiated settlement with Iceland is either resulted in a release.

"No problem to solve our debts"

Therefore, the EFTA will resume in the coming weeks the record in hand. And Iceland may be worried because the authority was already acknowledged in 2010 that the amounts claimed by the Netherlands to Iceland and they were well due. The arrival of the United Kingdom in the proceedings, which examined the possibilities Sunday "to join it" could further complicate the task of the Icelandic government.Because if it believes it has "no problem to pay its debts" in the words of Steingrimur Sigfusson, his Finance Minister, is it always that the Icelanders are still refusing to pay the slate of private banks. More for foreign citizens. Therefore politically difficult to Reykjavik to meet its promises after two resounding rejection of his countrymen.

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