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The end of the franc is big to the Treasury. The latest * franc notes were redeemable at branches of the Bank of France until February 17 at midnight. Ten days after the end of the countdown, the institution is taking stock. A total of 1.5 million tickets have been reported for a total value of 378 million francs (57.6 million), from 1 September 2011 and the deadline of February 17. According to the Bank of France, there is 55 million franc banknotes in circulation, hidden under the mattress, forgotten in old bags or kept by collectors nostalgic. A nest egg estimated at 526 million euros. This balance, called "emission cap" will be donated to the state, she says.  

The countryside of the Banque de France will not have been very successful, despite his repeated reminders to the holders of francs in recent months and the creation of a dedicated website (www.jechangemesfrancs.com). Indeed, the franc banknotes still in circulation became a treasure of 602 million euros in late 2010. Yet the French had thrown at the offices of the institution's approach to the deadline. "Just under 200,000 cuts were exchanged in December 2011, but nearly 367,000 in January 2012 and 733,000 cuts on the first 17 days of February," says the Bank of France. A record was set on February 17, with 91,000 tickets reported.  

The large denomination reported mass

For latecomers or those who have not managed to get hold of these small economies too well hidden, they have "no choice but to keep their tickets as a souvenir or sell to coin collectors," warns we at the Bank of France. But beware, all tickets will not take the value. "Better to have kept the cuts of 20 francs or 50 francs Debussy Saint-Exupery," advises Michael Prior, specialist of currencies within the Compagnie Générale de Bourse (CGB.fr). Now demonetized, only small values ​​will make a "margin buxom." A lesson that apprentices numismatists have understood. "Two thirds of the reported cuts are notes of 200 francs and 500 francs," says the Bank of France, which states that "the average volume of trade amounted to 15 tickets per transaction, for an average value of 3627 francs (553 euros). "

* The range of notes that can be exchanged against euro: CHF 20 bills bearing the image of Debussy, equivalent to 3.05 euros, the "Saint-Exupery" 50 francs (7.62 euros) , the "Cezanne" of 100 francs (15.24 euros), "Gustave Eiffel" of 200 francs (30.49 euros) and the "Pierre et Marie Curie" of 500 francs (76.22 euros).

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The price of gas and electricity for low incomes will fall in Reunion, and those of 40 essential commodities will be frozen at least from March 1 through the efforts of local communities, said Friday the prefect, Michel Lalande. A series of measures taken after a round table of five thirty gathering around him the chairmen of local councils, chambers, representatives of consumer associations, oil companies and professional drivers guaranteed payday loans. All participants in the roundtable have finally launched a "solemn appeal" to calm the population.

The euro countries should provide in the night the green light to a massive assistance to Athens, to save him once again the bankruptcy assistance, debt forgiveness and contributions combined, Greece will cost more than € 350 billion in twenty months just to the EU, banks and international institutions. As much as the debt that the country continues to grow as Sisyphus his rock.

Assistance discussed Monday in Brussels, amounting to EUR 130 billion, shows more modest ambitions than the first 110 billion plan presented in May 2010 as a panacea. The 2012 version covers the next eight years, but it is far from solving all maturities by then. It does not fill a growing distrust between Greece, is said bled dry, and creditors like Germany believe that it can never do enough.

Demand concessions maximum

In the calendar, the distress of Athens as important as the progress of complex financial dealings with governments, private banks, the IMF and the ECB. Under penalty of default, the government must realize Papademos an agreement with its creditors before March 20, deadline by which 14.5 billion of government bonds mature. "We must conclude today, because time is running out," said President of the Eurogroup, Jean-Claude Juncker.

Faced with the enormity of the amounts, the sense of urgency is far from being shared in the monetary area. North, capitals such as Berlin, The Hague and Helsinki took advantage of last hours to demand concessions maximum of Athens by suggesting, as the German Wolfgang Schäuble, a Greek bankruptcy would be manageable after all.

To the south, others are alarmed instead of a possible contagion of bankruptcies in Portugal, Spain and even Italy, in the midst of a recession. "We have now all the elements for an agreement," insisted Monday Baroin. Europeans are close to finalizing, but a diplomat added, "they still have to lift the heaviest of ambiguities" in that price, Greece should it stay or not in the euro?

A surrender of sovereignty single

The agreement on the table focused on two issues: the erasure of unprecedented € 100 billion of private debt, agreed in advance by the banks, which must be added to the bailout of at least 130 billion euros financed by creditors. It is on this second effort, called on governments and international institutions, that the real uncertainties remain to be overcome.

Despite the anger of the street, the government is preparing to slash Papademos 3.3 billion in additional government envelopes, like Medicare, minimum wage and defense. "The Greek people have made considerable efforts, it is now for others to do the same," assured his arrival a Christine Lagarde yet mindful of the IMF funds.

Politically, Athens refuses any loud and European tutelage and just show the vitriolic exchanges with Berlin. But in practice, Greece seemed about to make a single surrender of sovereignty: the establishment of a budget account blocked, intended to guarantee the repayment of debt and interest payments. The mechanism, suggested as a sign of confidence by Berlin and Paris, is to serve the foreign creditors before committing a penny of national public expenditure.

Even if Athens managed to get unparalleled support that night, he will probably remain the Greeks the bitter taste of a potion imposed from outside

. Aid to Greece (public and private since May 2010)

110 billion euros. Amount of the first rescue plan EU-IMF.

€ 130 billion. Amount of the second rescue plan EU-IMF.

100 billion euros. Amount of Greek debt erased by the private sector.

12 billion euros. Realized capital gains on government debt which should give the ECB the benefit of Greece.

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Organic products seem immunized against the crisis. Last year, sales were nearly $ 4 billion euros, an increase of at least 10%, as estimated by the Bio Agency. A sacred performance. Over the same period, sales of consumer products (food and hygiene products) have indeed stagnated in volume, and increased by only 3% in value.

Despite prices 20% to 50% higher, organic products, which represent less than 2% of the food market, continue to attract consumers. However, they are less likely to try the bio. In 2011, 40% of French reported consuming at least once a month for organic products, when they were 43% in 2010 and 46% in 2009, according to a survey by the CSA institute. "In a crisis, the curiosity of consumers is less, recognizes Elizabeth Mercier, Director of the Agency Bio. But market growth in 2008, the year of crisis, was 25% and 19% by volume. " In contrast, 18% of those who consume at least one organic product a week they intend to increase their intake this year. "This allows us to expect a further growth of organic products in 2012," said Elisabeth Mercier.

More visibility on the shelf

"The potential of new consumer stays there, half the French having no problem purchasing power," said Didier Perreol, group president Ekibio (Priméal, Bisson, My life without gluten?), Which states that Organic consumers are mostly from the wealthier classes.

"The market continues to grow as a supply effect contributes mechanically to increased purchases," says Isabelle Senand, author of a study on the bio for Xerfi instant payday loan. This is the result of the number of openings specialized brands (Naturalia Biocoop, La Vie Claire?), Pioneer of organic and enlargement of the assortment in supermarkets and hypermarkets. Today, 10% of milk sales are conducted in organic section, over 15% of sales? Eggs but only 6% of sales of fruits and vegetables. Last year, innovations in the organic section have increased among the national brands, ham Fleury Michon Pom'Potes Materne to Mont Blanc.

"The distributors have established themselves in this market with their brands and national brands, explains Isabelle Senand. All signs now have their own organic brand, which is largely the democratization of the market. "

The price gap has in fact reduced in grocery, fruit and vegetables or dairy products. "In five years, our prices are down 15% due to higher volumes, which allowed us to increase productivity," says Daniel Tirat, CEO of two cows, the brand of organic yogurt from Danone, the second mark market.

In three years, the market for organic fresh dairy products has doubled to 100 million euros. "We are in a logical recruitment of consumers, two thirds of our buyers who have never eaten organic yogurt, adds Daniel Tirat, which will test next month at Monoprix sales of butter and cream The two cows. We need the bio is even more visible rays. "

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The premium for 3000 euros deployed in April 2009 for hiring a permanent contract of a trainee will ultimately resulted in the recruitment of 7245 young people in just over a year. This result, communicated by the Department of Employment, is seven times lower than the initial target of 50,000 hires.

The measure, which was included in the contingency plan for youth employment, will have cost 20 million euros to the state, against 150 million budgeted.

September 2009 has concentrated 42% of new recruits, the vast majority occurring during the summer period due to the completion of courses at study students. Nearly 5,200 companies have benefited from this device, particularly in services (legal activities, architecture, engineering, computer …) that concentrated more than half of the hires made. Conversely, the hotels and restaurants accounted for only 1% of contracts signed. Beneficiaries aged 23 or 24 years, had long been in higher education: 85% had a BA + 3. They were recruited, mostly, after a period of over six months. More than one in two has been hired as executive status.

As for the geographical distribution of recruitments, nearly 43% were made in Ile-de-France, the only region with Rhone-Alpes to be exceeded (by far) the threshold of 400 hires. Conversely, Corsica … has signed only six contracts.

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In the first five days of strike by cabin crew of Air France, the company is organized to provide as announced 80% of its flights. The company has temporarily restricted on Saturday morning to 100 passengers the ability of its medium-haul flights Orly. Consequence: passengers can wait a little and minor delays can be saved.

This management method was chosen to avoid having to put down passengers for lack of a sufficient number of hostesses and stewards. "It blocks the flights a minimum. Is completed according to the presentation of the crews as and when. But we have managed so far to complete the flight and make them go as planned, "says the director of Air France at Orly, George Daher. A strategy that annoys some customers. "We were placed on a waiting list by explaining that there was not enough staff.A rip-off in communication because all flights are available at this time, "said one man who was to fly to Toulouse.

About the airport Roissy-Charles de Gaulle, the traffic was in line with forecasts of Air France, which does not exclude any last minute cancellations. It struck ten long-haul flights planned Saturday morning, including flights to New York, Montreal, Los Angeles, Tokyo, Abu Dhabi, Douala. But passengers were warned on Friday. But according to Europe 1, delays begin to accumulate.

In Nice, the third busiest airport in France, three Air France flights were canceled to Paris. Five flights were canceled in Marseille in the direction of Roissy and Orly. In Toulouse three flights were canceled out of fifteen.

Unions and senior civil service did not hide in the day Thursday, their fear of participation for the first dive vote simultaneously in all jurisdictions of the state and all hospitals (it was around 64 % in previous elections).

The former pointed to many problems: errors in the delivery of ballots in the electoral lists, complexity of the software used in e-voting Education …

The latter, without denying the difficulties, in advance have found that the federations of civil servants should take some responsibility paydayloans. "Even the great labor leaders" are engaged in the campaign, noted the Minister of Civil Service, Francis Sauvadet.

This fear seemed about to be true, in view of the first digit.Thursday late evening, less than 40% of voters, according to unions, National Education, which alone accounts for almost half of the officials.

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Tax soda should further fuel the coffers than expected. The new tax announced by Prime Minister Francois Fillon, as part of the austerity plan will help fill the gap of France to the tune of 370 million euros, according to information on Europe 1. Revenues exceeding 120 million originally envisaged which, according to industry increases the price of the can of a euro cent on average.

In fact, the tax has not yet been established but it has already been expanded. It could affect not only soft drinks but also all soft drinks and sweeteners, says the radio station. Previously saved, the Diet Coke, Coke Zero or mineral waters and non-alcoholic beer may ultimately be affected.

Bernard Reynes, UMP deputy of the Bouches-du-Rhone, should defend the new amendment in ten days.The new contours of the tax would have been decided by Valérie Pécresse, budget minister, Bruno Le Maire, his colleague from the House Agriculture and Bernard Reynes and Christian Jacob.

Compensates for the lower social security contributions of farmers

And as noted in Le Figaro yesterday, raising the tax would fund future lower social security contributions of farmers who come into force on 1 January 2012 fast payday loan no faxing.

The question is whether manufacturers will digest these ads. In fact, the announcement of the tax had already provoked the ire of Coca-Cola. The American firm had threatened to suspend an investment of 17 million expected next year at its plant in the Bouches-du-Rhone, then retracted, while evoking a "communication error".Only element of consolation for the food groups, the public health argument justifying the creation of a tax 'anti-obesity "has disappeared from legislation, as they wanted.

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The nightmare of 2008 takes shape in the early autumn. In great difficulty, the Franco-Belgian bank Dexia has lost a third of its value on the stock market Tuesday morning amid rumors injection of public money. Since the beginning of August, the European banks, particularly French, are attacked by the markets.

Investors blame them for buying too many Greek debt. Their actions melt like snow in the sun and their Asian or American counterparts do not lend them more than with suspicion. Result, some politicians in the euro area considering state aid for out of the rut. The last time an institution, Lehman Brothers, was abandoned to its fate in 2008, this resulted in the worst financial crisis since 1929.But why, every time they approach the precipice, the banks are they rescued by the States? Decryption.

What is the importance of banks in the economy?

In Europe, the sector produces about 10% of the wealth of the country. But its importance goes well beyond the turnover. Banks play an intermediary role essential. "They manage the savings of those who are most and assign credit to those who request it," says Sofiane Aboura, co-head of investment banking master and market the University of Paris Dauphine.

"The word bank includes a number of activities," said Michel Baroni, professor at ESSEC. "In France in particular, they carry almost all areas of finance: savings management, payment system via current accounts, credit to individuals and businesses, say market activities (trading, etc guaranteed fast personal loans.)..It says the model of universal banking. "Reflecting these activities, the assets of the banking sector in France are more than 3.3 times the gross domestic product (GDP), that is to say, the wealth produced by the country in one year. In Germany the figure is two and a half times GDP, and the Netherlands, more than four times.

Why save them?

"If a major bank collapses, the economy collapses," Assen Scialom * Laurence, Professor of Economics at Paris X Nanterre.All institutions, however, represent the same systemic risk, and do not necessarily require to be saved, says the economist: "What is it? What are its interconnections, therefore the risk of contagion, with the rest of the economy and the rest of the world? Can it be replaced in its business by a competitor? We must ask these questions before acting. "Still, ultimately, a bank, however small it may be, can not die without causing catastrophe if the situation is calm. "Today the market is destabilized and a bankruptcy would not affect normal times can be devastating," warns Laurence Scialom.

How to reduce the bill, in cases of salvage?

"For a state to help a troubled bank is less expensive than the laissez-faire

The former headquarters of Lehman Brothers in New York. Photo Credit: Mark Lennihan / Associated Press

Less than a year after the announcement of its financial restructuring, the third largest container shipping has entered a turbulent period. Reportedly, the company has appointed financial advisers, including Jean-Marie Messier, founder of Maris Messier Partners, to start negotiations with bankers. In a difficult environment, a fall in freight rates and the slowdown in maritime trade, the owner will probably not be able to comply with its covenants at year-end, ie the financial ratios contained in its loan agreements. For now, there is no question of failure to meet repayments, but it is a first warning.

Slowdown in world trade

When asked, the company says, "CMA CGM continuously dialogue with its banks. We strengthened our capital, have a strong cash position and a growing business.Our investments are funded until the end of 2012. We are confident in our ability to manage the challenges of the market with the most modern naval tool in our market. "

Discussions should be initiated in the coming weeks between the parties to review this financial contract or obtain new financial arrangements.

Asia-Europe line coveted

Negotiations could be tightened. For at least two reasons. A likely deterioration in the economic environment first business card templates. The price of a container bound for China to Europe was trading at 793 dollars ten days ago against a little over $ 900 in late May, the Shanghai Shipping Exchange. This compares to an average of 790 dollars on average in the container 2009, the year of the crisis, and 1600 dollars per container in 2010.

The increase in capacity on this line last spring explained the decline in prices. But in recent weeks, we can worry about the volumes. Last Friday, the WTO has reduced the growth of world trade from 6.5% to 5.8%.

Second reason: the attitude of creditors. Previous negotiations, which took place directly in Bercy, were very difficult. Jacques Saade, the founder of CMA CGM, has a fight relentlessly for nearly a year to avoid losing control of his company, even offend and turn away investors as well-known businessman Albert Frère or the Strategic Investment Fund (ISF). The contractor took advantage of the tremendous rebound in world trade in 2010 to loosen the grip of creditors who have tried unsuccessfully to impose a new manager to head the company.We will see in the coming months if this episode has left its mark.

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