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The British government is preparing to launch a new phase of privatization of the public sector. The Prime Minister, David Cameron, on Monday launched a consultation on the possibility of using private funds to modernize the country's overcrowded roads. "We lose £ 7 billion (8.4 billion euros) a year because of traffic jams – and yet the last government built only 25 miles (40 kilometers) of new highways, which, incidentally, is Unless the number of ministers of transport of this government, "the Prime Minister justified. He emphasized the dangers to the UK economy of underinvestment in infrastructure, while his government is engaged in a comprehensive program to reduce public spending, including the 2012-2013 budget presented Wednesday will again be the illustration.

To solve this square the circle, the government wants to seek private financing, from investment funds, sovereign funds and other investors. The Minister of Economy, George Osborne, recently visited China to try to convince Beijing to invest in infrastructure programs in Britain. He hopes to attract 20 billion pounds (24 billion) of funds for roads, railways, nuclear or high-speed Internet network. According to the liberal doctrine into force in Downing Street, private companies are better able than government to effectively manage the cost of maintaining and upgrading aging road network.

Vehicle Tax

About 3% of the country's roads, the busiest, would be assigned to long-term concession (several decades) to private companies no teletrack payday loans. But, in order not to incur the wrath of the powerful car lobby, David Cameron has promised that no toll would be allowed on existing routes. A single stretch of motorway, north of Birmingham, is subject to tolls and the coup remains underutilized. When Tony Blair had discussed the idea in 2007 to increase tolls, he had to retreat after a petition signed by more than 1.8 million citizens. Cameron suggests that only capacity increases can justify tolls.

The proposed scheme would be for dealers part of the budget for highways from the vehicle tax, which pays 6 billion pounds per year (7.2 billion euros). "There is not yet determined the business model, says Alasdair Reisner, the Civil Engineering Contractors Association, which will be included in the consultation. One can imagine a shadow toll, paid by the government based on a number of cars on a given axis. If the road is not usable at any given time, the subsidy would not be paid. "

David Cameron cites the privatization of water systems UK under Margaret Thatcher as the model to follow. What consumer groups reacted by denouncing the large increases in bills incurred since by households. "Instead of alleviating the burden on motorists, the government is willing to let private companies take over the strategic road network and make it pay to drivers," denounces Maria Eagle, transport manager at Party Labor.

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Germany has been shaken Monday by a wave of strikes in public services. Consequence of the good health of the German economy, despite the crisis in the euro area: trade unions Ver.di and DBB are demanding wage increases of 6.5% after ten years of effort. The failure of negotiations started last week caused a series of movements that need to occur across the states throughout the country until the end of the week.

Monday, nurseries and kindergartens in Kiel, the capital of Schleswig-Holstein, were closed while the garbage was not picked up in Hamburg. "Several thousand" civil servants took part in the movement in Hesse, according to the services union ver.di Approximately 3,000 others were on strike in the neighboring state of Rhineland-Palatinate.

The city of Frankfurt, the financial capital of the country, was particularly affected traffic in metro and tram stops completely. Cruises on the Elbe are canceled and administrative services will run at idle in the north on Tuesday.

Wednesday, all municipal utilities will be affected in North Rhine-Westphalia, the most populated of Germany, and in Baden-Wuerttemberg, one of the richest. And a touching move 10,000 civil servants in Bavaria was announced Thursday. Only the city-state of Berlin is spared for the moment.

Claims up sharply

With this "warning strike", the unions agreed to lobby in wage negotiations began last week, but did not give any result yet. They cover employees of the federal government and municipalities, but not those of the Länder, which depend on another collective agreement.

Ver.di and DBB (union officials) demanding an increase of 6.5%, with a minimum of 200 euros per month on the paychecks of two million civil servants concerned.

Besides the public, other major sectors of the German economy lead or are about to open negotiations, for which the unions, who agreed to wage demands put on mute during the crisis to safeguard employment, have reviewed their claims up sharply.

Negotiating the most anticipated, for the 3.4 million employees in the metal, due to open March 6. Led by IG Metall, which claims 6.5% increase, it affects steel, machine tools, machinery, automobiles, appliances or semiconductors.

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Better be envied than pitied. While Latecoere signed two months ago an agreement with its banks to clean up its financial position, the Alura Capital Partners Fund has just made its entry into the capital of aerospace equipment. According to our sources, the hedge funds in recent days has notified the company in Toulouse he had crossed the threshold of 2% of its capital. Contacted the two companies did not wish to comment.

The arrival of new investors reflects a renewed interest in Latécoère, caught two years ago by incurring excessive debt. Called into action by creditors in September 2010, Pierre Gadonneix, former boss of EDF, had initially prepared a quick backing of aerostructures specialist, before changing his mind. The group has completed in late December, its financial restructuring, aiming now to "participate in industry consolidation in a horizon of 2-3 years."

Some already are betting on an accelerated schedule, while the aerospace-defense is faced with the rise of civil aviation and the decline in military orders. The rating agency Fitch expects an increase in mergers and acquisitions over the next 12 months in the area. Consolidation to which the size of the encourages war chest of EADS and BAE Systems other: according to calculations by the agency, the cumulative cash flow of the six main European players reached 17 billion euros. If they do not want to return this money to shareholders, these groups will have to offer investment alternatives. Good news for them, as the funds Cinven and Carlyle, who had driven up prices of acquisitions in recent years, no longer have the same firepower.

Maneuvers

The maneuvers have already begun. According to Bloomberg, the British GKN is emerging as the favorite to take over Volvo Aero, a transaction of about 1 billion euros. Saffron is always the theater of operations in Italy to get their hands on the engine manufacturer Avio. For its part, Latécoère had received in early 2011, the takeover bids from the British GKN, the Dutch Fokker-Stork and Chinese Avic.

The AIF Alura Partners was founded in Paris in October 2010 by Alain Demarolle, former head of European investment fund Eton Park. The inspector, who had in 2008 a study mission on SWFs to the Finance Minister Christine Lagarde, received last month, the price of the international investor of the year the Paris-Ile- de-France economic capital.

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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Are we delivering. Sunday, the countries of the euro area seemed to want to push a key decision: that of increasing, or not, the size of the firewall in place to deal with the debt crisis. The issue was the focus of discussions at the G20 summit in Mexico, attended this weekend finance ministers and central bankers of the twenty most powerful economies in the world.

The United States, the emerging and most European countries believe that the firewall would not be enough if we had to help Spain and Italy. Currently consists of the European Financial Stability Fund (EFSF), which will be replaced by the European Stability Mechanism (MES), the device said firewall may lend 500 billion euros. Many argue for an increase in its lending capacity to $ 1000 billion (750 billion euros).

But Germany was opposed. This increase in lending capacity "would create a disincentive for countries to continue the consolidation and reform," said Mexico City on Saturday to German finance minister, Wolfgang Schäuble. The latter then suggested Sunday that the decision on the size of the firewall would not necessarily be taken at the EU summit on March 1 and 2 next, as was previously planned. "Mars goes from 1 to 31," stressed Wolfgang Schäuble. "Between 1 and March 31, we will examine whether the volume of the stabilization mechanism is sufficient in light of recent events."

Requirements of emerging

For Germany, this calendar is compatible with the international deadlines. In April in fact, that the question of more resources for the IMF (International Monetary Fund) to be determined, as was to clarify the G20 communiqué. But the two issues are linked. The Bric (Brazil, Russia, China, India and South Africa) do not want to contribute more to the IMF on two conditions: they have more power within the international body that Europeans and reinforce their own barrier fire. They reiterated Saturday on the sidelines of the G20. Just as they emphasized their opposition to the rule that the presidency of the World Bank, renewable in June, back in the United States.

Ultimately, the final communiqué of the G20 would be a difficult balancing act, recalling that the strengthening of the countries of the euro zone's firewall, point to consider in March, is "essential" before the IMF's resources can be identified . The text should also state that the rise in oil prices threatens the global economy. The United States examine the possibility of dipping into their strategic reserves. But they do not call the other G20 countries to do likewise.

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The example of Greece who was indebted beyond measure in 2004 to host the Olympics in Athens he served as a warning. The doubling of costs that will have to consent to become London Olympic capital from July 27 to August 12 this year has reinforced his belief.

Mario Monti decided Tuesday not to proceed to Rome's candidacy to host the Olympics in 2020. He had until today to file it with the IOC in Lausanne. The President of the Council considered "irresponsible" to engage in an adventure that no one could control costs. The State should guarantee 4.7 billion euros of public funds.

Mario Monti said he made the decision and only "reluctantly". Regardless of the strong pressure of industrial lobbies, political parties and the Mayor of Rome Gianni Alemanno. To the President of Confindustria Emma Marcegaglia, these Games were a "unique opportunity", a "wheel of growth to boost investments" in decline.

According to the research department of business, foreign investments in Italy decreased from last year … 53% compared to 2010. Mario Monti told him so incisively: "the government had to ask for sacrifices very important to Italians. Now that the immediate danger seems to recede, we do not feel ready to assume a financial commitment that could encumber the public accounts in unpredictable ways in the coming years. "

This decision comes after Moody's downgraded in turn has the Italian note citing the lack of creditworthiness of its debt. Yet Rome was given as a favorite by bookmakers in London.

The French Union of seed (FSU) also points out that the 16 million paid out last year's wheat, 10 million were paid to farmers, were donated 5 million and $ 1 million to seed a fund of research. The same principle should be applied to this new tax.

Support research in seeds to increase diversity would be the ultimate goal of this law, according to the manufacturers no teletrack payday loan. "We evaluated the research costs of the 71 seed who work on French territory to 200 million euros a year. This is the budget looking for Monsanto alone! We alerted members to the need to collect these funds to continue to have French breeders, not just foreigners in France, "insists Francis Burgaud.

Michel Madelain, CEO of Moody's Investor Services.

Is this the end of the action? Thus David Shairp, strategist at JP Morgan Asset Management, started his weekly newsletter. An issue that should speak to investors today on the defensive, discouraged by successive storms experienced stock market.

In response, the asset manager first makes common sense. "No asset class is likely to outperform indefinitely, since this would imply a permanent inflow of capital that would eventually not lower the rate of return on investment," notes David Shairp cash advance payday loan. A way of saying that investors will eventually return to the path of the Exchange. The current bad patch will indeed end. But when?

Persistence of large fluctuations in sawtooth

This time, the history market it refers. "The current period is not unprecedented.

Wall Street opened down on Friday. In early trade, the Dow Jones ceded 0.65% to 11,971.90 points and the Nasdaq 0.51% to 2684 points. Job creation has slowed sharply in the United States in October but this has not prevented the unemployment rate to fall slightly, according to official figures published on Friday in Washington. The net hiring amounted to 80,000 jobs, or half that in September, said the monthly report on employment in the department of Travail.Le Ministry also indicates that the unemployment rate fell to 9.0% in October, after spending three months at 9.1%.

Investors remain suspended to changes in the Greek case, the last day of the summit of major developed and emerging G20 Cannes fast cash online. Thursday, the New York Stock Exchange ended the session sharply higher, in the wake of European markets.The markets welcomed the surprise cut rates the European Central Bank and the withdrawal of the proposed referendum Greek Prime Minister Papandreou.

In Europe, this Friday, the Greek government plays its all in a vote of confidence from the parliament in the evening. Meanwhile, the fate of Prime Minister George Papandreou seems already sealed after the failure of the referendum proposal.