My Opinions

Nadine Morano does not hide his satisfaction. The strategy implemented by the Minister of Learning to stick to the commitment of Nicolas Sarkozy – bring 600,000 to 800,000 the number of young alternately by 2015 – appears on track. In October, the number of new contracts signed alternately jumped 7.3% over the same period in 2010 to over 325,000. "This is despite the crisis," said Nadine Morano.

We must recognize that the government has the means to succeed the start: youth outreach campaign before the summer, incentives and administrative simplification passed in late July, doors open at 71 training centers organized in August promotion to employers the new rules into effect in September … with success."It was the battle of youth employment to win and we will continue to put pressure on prefects well they keep on file for the learning needs of businesses," she says.

Nadine Morano is finalizing a regional mapping of places still available in training centers. "It is not normal that there are still 25% of places unfilled in some employment areas," she notes.

Nadine Morano will also continue its work of conviction with regional presidents. The market is simple: for every euro invested in learning the local executive, the government will double the bet.

A winning strategy, because the Minister will sign Tuesday the 19th convention of goals and means with a region. And not just that: the Ile-de-France, which is committed to creating 41,000 training places over five alternating years, through a joint effort of 650 million euros.

"We want to protect the French against the serious problems facing other European countries." In presenting its additional measures of austerity, Prime Minister Francois Fillon has placed France in the context of financial panic that hit the euro area. "The word bankruptcy is no longer an abstract word," he stressed, pointing between the lines he had himself used the term taboo in 2007.

The French will have to resolve "some sacrifices," warned the Prime Minister, "so you do not have to take one day a policy imposed by others." Without naming them, the Prime Minister of the finger tip by the danger of pressure from rating agencies threatening to lower the AAA rating of France.

The extra effort is 18.6 billion euros over the next two years, including 7 billion euros in 2012 and 11.6 billion in 2013.This acceleration, he said, "will reinforce the reform of 2010 and will decline by more than 4.4 billion accumulated deficits of pension plans between 2012 and 2016."

• The rate of income tax and of the solidarity tax on capital will be frozen for the next two years.

• Reduce the tax differential between capital and labor. The levy will be fixed up 19 to 24% to reduce the tax differential between labor income and capital. "The standard deduction will increase to 24% for dividends and interest," added the Prime Minister. The standard deduction (PFL) allows a taxpayer to pay the tax due on income from investment banking (treasury bills, interest on life insurance, etc.)..

• 500 million euros in additional savings for the state in 2012.

Prime Minister Francois Fillon announced Monday, after a special cabinet, new austerity measures. The amount? Range evolves 6-8000000000 euros. The downward revision of growth in 2012 (1.75% to 1%) means to provide such an effort if France does not want its deficit skid.

Among the tracks mentioned: an increase in corporate tax (IS) for large companies and action on VAT. Specifically, according to reports, companies making more than 500 million euros in turnover should pay an additional tax (eg 10%). The nominal rate of corporation tax will not be found … but the big companies will actually pay more. And perhaps as early as the down payment in December. The state expects 1 billion additional revenue per year.

Greece is on everyone's lips in Cannes, which should open the G20 summit on Thursday morning. The Greek prime minister was called to 8:00 p.m. Wednesday evening for a meeting including President Nicolas Sarkozy and German Chancellor Angela Merkel. It must explain its decision to submit the agreement European referendum last week.

Paris and Berlin put pressure on Athens to advance that the referendum in late November, while January was first advanced. The two major euro-area warn that the disbursement of 8 billion euros in aid granted by the EU and the IMF has become uncertain.

In this context of uncertainty exceptional French interest rates soared in the morning, the gap is widening at a historic German rates.Potential victim of contagion, Italy tries to reassure her convene an extraordinary cabinet meeting on Wednesday night to adopt austerity measures guaranteed payday loans.

• Merkel wants clarity

"We have set up a program with Greece last week. We want to make this program and why we need clarity. This is what should serve the meeting tonight, "said German Chancellor Angela Merkel in Cannes on Wednesday. It should meet in the afternoon Greek Prime Minister George Papandreou, along with Nicolas Sarkozy, representatives of European institutions and the IMF BEYOND CEO Christine Lagarde.

The announcement on Monday night next to the organization of a referendum in Greece in the European aid plan has caused a panic in the markets and threatens the firewall in place within the euro area the last week.

Following the European Agreement on the debt crisis and in the wake of Wall Street, the Asian financial centers continue to take the colors on Friday. The benchmark index of the Tokyo Stock Exchange gained 1.08% to 9022.85 points, the Hang Seng Index of Hong Kong 1.89% to 20,061.40 points, the CSI 300 Shanghai 1.44% to 2695.76 points, the Kospi index in Seoul 1.03% to 1941.90 points, the S & P / ASX 200 Index 0.04% 4349.90 Sydney points, the BSE Sensex 30 in Mumbai at 17,762.60 points 2.74% and the FTSE Straits Times of Singapore 1.26% to 2883.42 points.

Investors are optimistic about the effectiveness of European anti-crisis plan, to reduce the debt of Greece and the mobilization of one trillion euros to prevent any contagion to the rest of the euro area.

The euro remains stable against the dollar

In addition, Japanese industrial production fell in September, 4% on a month, the exporting firms are faced with the global economic downturn and the soaring yen, according to figures from the Ministry of Economy one hour payday loan. This is the first decline experienced since March, which recorded an unprecedented drop of 15.5%, again because of the accident at Fukushima. The production was subsequently taken up and had increased every month.

Oil prices retreated slightly on Friday morning in Asia, decision-bénécices after the flight of the day due to good numbers of U.S. growth and the Brussels agreement, analysts said. In electronic trading in the morning, a barrel of "light sweet crude" for December delivery lost 37 cents to 93.59 dollars.Barrel of Brent North Sea crude for December delivery yielded 30 cents to 111.78 dollars. For its part, the euro remains stable against the U.S. dollar, losing only 0.07% to 1.417 dollars.

False, false arch-is and sources familiar with the situation in France qualify the statements of the German weekly Der Spiegel on the sale of warships to Greece. No, France does not "give" the frigates to Greece, writes the weekly in its issue this week. The information given by the newspaper are also inaccurate. The call for tenders launched by the Greek government was about six FREMM multimission, not "two to four" as the newspaper. Furthermore, if the tender has been won by France, the contract was never signed because of the financial crisis.

The newspaper asserted that France had offered to Greece to keep the Frigate for five years without pay, then pay only $ 200 million per piece instead of 300 million. But the price of a frigate in fact reached 500 million euros.If Greece could not pay his debt at that time, France had recovered from ships.

A letter of protest from ThyssenKrupp

When bidding, ThyssenKrupp, a competitor to the market, namely the Department of the shipyards, has even sent a letter to the Chancellor to complain about French methods cash advance in one hour. And above all, to denounce the financial allowing Greece to acquire these warships: "While the German arsenals do not receive any order, DCNS Greek and arsenals are funded by German money and artificially kept alive "ThyssenKrupp said in the letter quoted by Spiegel. The steel company has even asked the Chancellor to discuss this matter with Nicolas Sarkozy at the EU summit this weekend.ThyssenKrupp declined to comment officially on this subject.

Such an arrangement between France and Greece is almost impossible because it would retoqué by Brussels. Some take the pretext of military procurement by Greece to defend the interests of German taxpayers. These increasingly reluctant to pay for Greece. The majority of Germans is now, 54% favor a return to the deutsche mark according to a survey published by the magazine Stern. France is also in the crosshairs of German newspapers for some time: after the interview the boss kills the French BNP Paribas by the Handelsblatt newspaper now betting on a downgrade of France.

Danone has published a quarterly revenue in line with expectations. At first, in the absence of good surprise, the valuation of Danone can call. The title pays more than 14 times earnings expected for 2012, while the CAC 40 builds about 8.2 times the estimated profit for 2012. "This is justified from the point where Danone is growing higher than the overall economy. The group offers products with high added value for the elderly and babies. It is well positioned in emerging markets, "says one fund manager.

We must also put into perspective the value of Danone with that of Nestlé. The Swiss giant capitalizes 15.6 times the expected result next year. The market welcomed by the superb performance in all segments, including the brilliant success of Nespresso, the subsidiary that specializes in luxury coffee.

Danone is perceived by the market as a growth and not as a "value", not valued due to lack of development prospects online payday advance. The situation of Danone in terms of profitability is satisfactory. Operating margin exceeded 14% after the first half. Better still, it exceeds 20% in Asia.

Possible sale of the water industry

Still, Danone must win the market with new projects. In recent years, Danone has refocused on the markets of healthy nutrition and health. The group is poised to sell its water sector, reports Bloomberg. It is in talks with the Japanese Suntory. The water industry is about 17% of sales of Danone. Growth and profitability are slightly lower than the other branches of the group.Meanwhile, Danone could strengthen its nutrition industry with an acquisition.

In any case, it will not be possible to create value with a takeover bid. When Danone had been rumors of takeover by Pepsi, leaders such as politicians had split from a multitude of arguments, economic patriotism.

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Fight against poverty, access to clean water, education, health … Target the poorest countries of sub-Saharan Africa while engaging more in North Africa. These are the priorities declined by the French development, according to the 2011 AFD Ifop barometer, conducted in July, against a background of "Arab spring". They are 63% to support the continuation of official development assistance (ODA), despite the crisis and the context of budget restrictions. 77% of them even consider that France should have its own policy in Europe.

Tax on financial transactions

Given that France is the third largest contributor to global. "ODA accounts for 10 billion euros, or nearly 10% of global ODA, while France weighs 5% of global GDP.And the 2012 budget will not be affected by lower public spending, "said Minister of Cooperation Henri de Raincourt. Welcoming the outcome of the investigation that "incites to put development at the heart of the international agenda," the minister said that the G20 Development to be held next Friday in Paris will be a first in this proceeding with three priorities: food security, infrastructure and innovative financing.

Paris has the support of Brazil and several European partners to push the proposed tax on financial transactions, despite the opposition displayed the Anglo-Saxon countries, the United States in mind. "It will take these countries explain to their publics at the same time they lower their ODA they refuse to find new financing.This is an ethical issue, "criticizes the French minister.

If aid is important to the French, they are only 55% find it effective. They are even more severe in the result on the reduction of poverty, the fight against global warming and support for economic growth. Overall 60% believe the French budget enough, young people, however, require a greater commitment.

Respondents also believe that aid should rely more on local actors: communities, civil society organizations, entrepreneurs and NGOs …. The transfer of skills and know-how is considered very important to avoid over-reliance of the States for assistance. Finally, like other years, they want more information on funded projects, their progress and results.

To save Greece from bankruptcy, the banks will have to put their hands in the pocket, and it more than expected. This was recognized by the French Ministry of Finance on Thursday. Creditor institutions of the country in trouble will "probably" erase more debt than originally agreed. European leaders are currently "working" on the issue, said Bercy.

On 21 July, the euro area has decided to ask the banks to accept a debt relief of up to 21% of their funds invested in government debt. This participation is about 50 billion euros, in addition to using the new euro 109 billion. This was torn by Berlin, while Paris was reluctant, wanting to protect its banking system.

Since the announcement, Greece has sunk even further into crisis, with growth forecast and worse than expected public deficit targets not being met. Several diplomatic sources said in recent days that European leaders are now working on discounts of around 30% to 50% on Greek debt. However, a source told Reuters in Brussels, "it is still very open. You have to see what the initial reaction of investors. Voluntary participation is the goal, at least for now, and many feel that we must avoid the risk of total failure. "

"Window" for banks

To prevent European banks from sinking while erasing part of the slate of Greece, European leaders are studying at the same time the recapitalization of the sector savings account payday advance.Bercy said Thursday that European states will open a "window" for banks would be unable to recapitalize on their own or directly in the markets. France would have wanted to use it for the European Financial Stability, established to help countries in trouble. But Germany is opposed, wanting to limit its use to countries under international infusion (Greece, Portugal, Ireland).

"French banks have no liquidity problems or solvency", held a state Department of Finance. European financial institutions that need to be recapitalized, said Bercy, are "those who failed the stress tests" released in early summer and those who have succeeded just in time. Eight banks have failed and 16 passed the examination of accuracy.Dexia, which is now being dismembered, had passed between the cracks.

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It's already Christmas in the "civet"! The government has made on Friday, a nice gift for tobacconists. Their pay on each pack of cigarettes will increase from 6.5% to 6.9% of the selling price. This increase will begin in January 2012 and will be spread over five years, the duration of the new "future contract" signed between Valérie Pécresse, Minister of Budget and Pascal Montredon, president of the Confederation of tobacconists. This is in addition to various support measures for tobacco shops located near the border and in rural areas, estimated at 320 million euros.

The increase in compensation benefits, it at all tobacco shops alike. Paradoxical, because "the sale of tobacco as aids have allowed your average income increase by 57% between 2002 and 2010," as recalled by Valerie Pécresse to tobacconists, who held their annual conference in Paris Friday."In total, more than 1 billion euros that came with your support and profession, which has also benefited, for many of you, the effects of the reduction in VAT in catering."

"At least 10 cents more per pack"

In early 2003, a sharp rise in prices had collapsed sales and forced the closure of nearly 5,000 retailers. There remains 28,000. But since 2004, the price increase regular, moderate (6% per year since 2009) did not in fact impact on the number of cigarettes sold in tobacconists, to the dismay of supporters of tobacco control and Department of Health. As a result, sales of tobacco outlets rose year after year at the rate of inflation of cigarettes for their benefit as for that of tobacco, and especially of the state, who pocketed 80% of price of a pack, which brings in each year over 10 billion euros payday loan companies.

While the additional gift to tobacconists would have no direct impact on government accounts. In all likelihood, the increase will be offset in compensation not to lower fees charged by Bercy, which closely monitors its accounts, but rather by a decrease in compensation of the tobacco industry, as was the case in the previous contract for the future.

To the extent that tobacco companies have no intention of making less money, they will offset the decline in their pay on each packet by an increase in their prices. "To erase an annual decline of 0.1% of our earnings should be increased by at least 10 cents the price of a package," says one manufacturer. "It's a vicious cycle that will strengthen the cause of the difficulties of cross-border tobacco shops," adds another.

Tobacco companies can increase their prices at the beginning of each quarter.Their next rate adjustment will occur not necessarily next January, to the extent that prices will rise by 6% already on Monday, October 17 or 10, as decided by the government. The pack of Marlboro will then 5.90 to 6.20 euros.

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