You do not mess with the IRS. While Facebook made its IPO, which will make its share of millionaires shareholders, two U.S. senators are considering a bill that would prohibit the territory Americans who renounce their citizenship for tax reasons.

In their sights: Eduardo Saverin, associated from the very beginning of Mark Zuckerberg, the company ousted in 2005 but still shares amounting to nearly 4%, and now investor in Singapore. He renounced his citizenship last September, but the information was released by U.S. authorities until recently. While it could pay up to $ 100 million tax with the IPO of Facebook, this coincidence of timing aroused suspicion.

Faced with the inclinations of the U.S. legislature, Eduardo Saverin was quick to respond. "I have paid and continue to pay any tax due on all that I acquired when I was an American citizen, he said in a statement. It is unfortunate that my personal choice has led to a public debate based not on facts but on speculation and misinformation. "

To defend himself, one who has paid the first servers to Facebook insists on the calendar of his approach cashadvance. He moved to Singapore in 2009, "interest in working and living in Singapore." His request to renounce his U.S. citizenship was filed in January 2011 and accepted in September. It also ensures not be "a tax expert."

But rumors of a future IPO of Facebook started swelling late 2010, while valuing the start-up exceeded 50 billion dollars on the gray market. Then, in January 2011, Goldman Sachs and the Russian fund Digital Sky Technologies remettaient the pot. The amazing assembly proposed by Goldman Sachs then allowed to cross Facebook the 500 shareholders threshold which required the company to make its public accounts or the stock market is quoting within 120 days of the closing accounts of the year in which this threshold was exceeded. Which would have allowed Eduardo Saverin anticipate there eighteen months the heavy tax bill that would introduce him.

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President of the European Central Bank, Mario Draghi, excludes more than Athens could leave the euro. "Our preference is that Greece continues to remain in the euro area," he said Wednesday at a conference in Frankfurt. This is a recognition that an outflow was no longer taboo. "Since the Treaty (establishing the single currency) is silent on an output, this is not the ECB decides," he added, recalling the legal vacuum in this area often referred, including the experts themselves same.

This statement confirms the remarks made Monday by Luc Coene, one of six members of the ECB Executive Board, responsible for economic analysis, which spoke of "an amicable divorce," in an interview with Financial Times.

These words, at least ambiguous and seem to add fuel to the fire, also reflect the embarrassment of the authorities in Frankfurt. They face de facto capital flight experienced by Greek banks. The phenomenon is not really new but it has accelerated in recent days further weakening the Greek banking system.

Emergency stop

To date, commercial banks do so more than the cash they receive from the ECB, which totaled nearly $ 100 billion or one third of their balance sheets, a level quite abnormal. According to market sources for Reuters, the ECB has started its lending quotas to Greek banks. She no longer accept to take title they give him as collateral. The commercial banks will have no alternative but to use the emergency window established by the Bank of Greece, according to a procedure remains perfectly legal, but that goes against the principle of uniqueness of monetary policy in the euro area.

In doing so, the ECB intends to pressure the Greek government which must recapitalize the banks that need it. At the Cabinet meeting on 27 April, it was envisaged that a recapitalization of € 18 billion would be set up. This is an emergency measure pending the recapitalization program released a wider 50 billion euro, and whose envelopes are explicitly included in the second rescue package announced last March. The technical details are currently in discussions with European experts and the IMF.

The ECB seems caught in the crossfire. While recalling officially Wednesday that it continued "to support Greek banks," the president about his aim to put pressure on the government and the public pending elections to be referendums value vis-à-vis of the euro.

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The employment recovers. A preliminary estimate of INSEE and the Ministry of Labour, 10,200 jobs were created in the first quarter 2012, an increase of 0.1% over the previous quarter.

This positive development comes after two quarters of contraction in employment. For the first time since the third quarter of 2009, the overall economy had destroyed jobs, 31,500 in the third quarter of 2011, and 22,600 in the fourth.

It was mainly the interim who had served as an adjustment variable. More than 90% destruction of items recognized in the second half of 2011 resulted from the decline in temporary jobs (34,000). In the first quarter 2012, job losses have instead been "very limited" according to INSEE, as contained in 1300 positions, a decrease of 0.2% over the previous quarter.

Over one year, the trend in employment remains slightly positive. 3000 jobs will be created, an increase of 0.1%. France had thus, in the first quarter 2012 according to a first count, 16.1 million employees.

"It was like in the 1970s," said Senator Sabina Rossa, daughter of a trade unionist killed by the far-left terrorist group Red Brigades. Like Greece, Italy, suffocating under the pressure of austerity. Some do not hesitate to use violence to express their anger. So much so that the country is afraid to relive the dark days of the 1970s and 1980s, called "years of lead", with the rise of violent political activism.

Target of these attacks, the symbols of austerity. Saturday, two Molotov cocktails were thrown against an agency's office of tax collection Equitalia in the city of Leghorn (northwestern Italy). The previous day, clashes broke out before another agency's office in Naples. Last week, an official of Equitalia had been held hostage for several hours by a trader before he did make to the police.

A meeting is scheduled for Thursday

Monday is the CEO of a public subsidiary of the giant Italian Finmeccanica specialized in nuclear power that has been wounded in the legs by a gunman who was referred on the streets of Genoa (northwestern Italy). Friday, an anarchist group claimed responsibility, "dedicated" to Olga Ikonomidou, an anarchist held in Greece and has announced plans for seven other actions Payday Loan for Bad Credit. In his claim, he promises to take then to Finmeccanica, the second group of industrial countries. "Finmeccanica is death and exploitation," he wrote in a letter of four pages. These movements are the result of anger to the austerity measures implemented by the government which tracking Monti fraudsters and tax evaders and raises taxes.

Therefore: the Italian government will raise the alert level throughout the peninsula. A circular was sent to all departments concerned said the Interior Minister Anna Maria Cancellieri in an interview with daily La Repubblica and Il Corriere della Sera.

"Thursday is a scheduled committee meeting to order and security" during which will be presented "a package of proposals," she said. To defend the offices of Finmeccanica and tax agencies to Equitalia, the Italian army could be called in as reinforcements.

Risk "escalation" is

Equitalia an agency in Rome where a threatening letter was received. Photo credits: Domenico Stinellis / AP

From our correspondent in Brussels The European economy is showing signs of continued weakness. The Brussels Commission anticipates the continuation of a "mild recession" throughout the first half of 2012, in its latest forecast released Friday. She was pushed to the slow recovery, driven by global growth and trade. But the burst also requires the continued recovery: "If we do not undertake new efforts resolutely, growth could remain weak," says Olli Rehn, Commissioner for the Economy. The warning is aimed, among others, in Paris.

The European Commission confirms that it indeed does not believe in the commitment of France to return to a deficit of 3% of GDP: it believes that the path leads instead to 4.2%, but policy change in the meantime . What complicates the situation for Francois Hollande and, perhaps, weaken some of its most expensive promises.

Under the scrutiny of experts, Europe – and particularly the eurozone – is a group exposed to "great disparities", if not serious tensions. In Germany, the first class out of reach of any material, opposes Spain, the fourth economy of the euro, which never ceases to plunge into the red whether the activity, unemployment or public accounts. Within Euroland, Belgium, the Netherlands and Ireland also miss the fiscal trial run. Clearly, the debate austerity-growth is not about to be extinguished. Not to mention the Greek hopeless case …

The fiscal covenant "is not stupid."

Madrid promises to return to 3% deficit next year? The Commission corrects and provides 6.3%. Realistic to Brussels, Conservative Mariano Rajoy could be the first to benefit from a late May deadline pushed back to 2014, even dent the official code of collective discipline. Commissioner Rehn dodged the question. But he raised the possibility of treatment "differentiated" because, he said, the fiscal pact "is not stupid."

For France, the hypothesis of a loosening of the stranglehold of 3% next year, however, is not on the shelves. "We expect that the French authorities specify the measures planned for 2013," Olli Rehn impatient setting out for the first time at the podium a request already heard behind the scenes in Europe, chaired by Sarkozy. The Commission will make its recommendations on May 31 Sanctions against Paris would intervene only after several years of deficits observed.

"We're not there yet," they say in Brussels. But France would have no mitigating circumstance – unlike Spain, Greece or Ireland. In keeping with German and domestic demand, which resists the Hexagon would grow by 0.5% this year and 1.3% in 2013. Unemployment, though rising steadily (10.3% next year), would remain below 11% of euro area average.

In comparison, France's President Holland is not the worst off and she still has to restore its margin accounts.

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The current shortage threatens Japan with the approach of summer heat when all the nuclear reactors of the Archipelago are at a standstill since Sunday. Uncertainty in the restart of nuclear power plants that supplied nearly 30% of electricity before the disaster of Fukushima, the Japanese are multiplying initiatives. The radius anecdotal include the "Super Cool Bra" bra refreshing presented Wednesday by the Triumph, which recalls the "heated jacket" high profile during the first summer post-Fukushima, last year.

Harbinger of a turn more energy, Canadian Solar, Canadian manufacturer of solar panels, has committed, also Wednesday, to locate a plant in the Tohoku region, devastated by the tsunami payday advance lenders. Photovoltaic electricity is still marginal in Japan: about 1% of production.

Unlike France, for example, which experienced its peak in winter, Japan, peak demand occurs in summer, air forces, when the sun is the most generous. The Japanese government has not presented its new energy strategy, but leaders of Canadian Solar anticipate an expansion of renewable energies. More durable than the bra, prototype to communicate on energy, which will not be marketed.

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1. What is Growth Pact?

The objective of a growth pact is offset, at European level, the negative effects of austerity policies. As defined by the President of the European Central Bank (ECB) Mario Draghi, it's about finding ways to enhance the productive potential of each country. Clearly, to carry out structural reforms such as to "facilitate the activities of entrepreneurs," because "the creation of new businesses and job creation are critical."

It is less in the spirit of Francis Holland, throw out the treaty negotiated in early 2012 that hard to add to it a component for growth. The new President is especially set up "infrastructure projects", such as the development of broadband networks, funded by the fundraising market at European level ("Eurobonds"). "But we will not revive a policy of public works and begin to build bridges across if it is useless for the business," says his entourage.

The new head of state also wants to increase the funds of the European Investment Bank (EIB), which is already being negotiated in Brussels. This state development bank invests primarily in long-term infrastructure projects. "It would take that money from structural funds, little-used today as states must co-invest and they do not afford to be as-redirected to finance growth," insists on the PS.

A tax on financial transactions at European level, without having a negative impact on activity, would also serve to finance projects.

2. What are the countries that have an interest in negotiating Growth Pact?

Some countries differ on the recipes that can boost activity. But "in principle, it is difficult for a country to say it is against growth, Cinzia Alcidi notes, study center CEPS in Brussels. We must hope. "Portugal, Spain, Greece, but also the Netherlands, that is to say the euro zone countries now in recession, welcome to welcome this breath of oxygen. Germany itself, which begins to see its exports stalling due to the effects of rigor in these countries is changing.

It's not because everyone agrees on the principle that negotiations will take place smoothly. "Although Italy and Spain have recognized the need for measures supporting growth in the short and medium term, both countries will not let this happen without the implementation of structural reforms (labor market reforms and wage moderation) analysis Beffy Pierre-Olivier, chief economist at Exane BNP Paribas. The political strategy of François Hollande on the French labor market and the protection of purchasing power could become a sticking point in negotiations. "

3. Germany thinks?

Berlin has traditionally focused on the reforms called "structural". "Germany is committed to a thing, said Cinzia Alcidi: she does not want growth to be boosted at the expense of balanced public finances, through stimulus packages as we saw in 2009." This position is cultural: our neighbor across the Rhine refuses to weaken its economy and its credibility in the debt market by expenditure. Monday, the spokesman for Chancellor Angela Merkel was categorical: "it is not possible to renegotiate the fiscal pact", which has already been "signed by 25 of the 27 Member States of the European Union" and must allow to strengthen discipline in public finance management.

4. What consequences Growth Pact can be to the French and the Europeans?

"If a European decision is taken at the European Summit of Heads of State and Government on 30 June, we should not expect to see the effect from 1 July!" Warns Jean-Christophe Caffet, economist at Natixis. One can imagine further that the funds are intended primarily for countries with the greatest difficulty, at least in France. Nevertheless, initiatives on the EIB or the Structural Funds "should not have any significant impact on the growth of the European Union", economists consider Societe Generale CIB. They recall that the 350 billion allocated to Structural Funds and the EIB have represented, spread over 5 years, only 0.3% of gross domestic product (GDP) of the area.

5. The European Central Bank could she participate in the revival?

French socialists would like the ECB plays a greater role to revive the economy. "Right now, the European Central Bank will do nothing special, Judge Clemente de Lucia, economist at BNP Paribas. It could simply continue to conduct an expansionary monetary policy to boost demand. " This will help provide banks with aplomb, allowing them to lend more to households or businesses. Problem, they have no confidence in the economy and therefore do not claim little credit.

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On April 22, spreading the controversial Bahrain Grand Prix Formula 1, TF1 has a record two years old: one of the best audience for a broadcast on 14h race. More than 3.6 million fans attended the event, 23% audience share. A score due to the uncertainty surrounding the holding of the Grand Prix because of events in the paus, but also to third place in the beautiful young French Romain Grosjean, a newcomer on the circuit.

This renewed interest in the Hexagon for F1 did not spring from Sunday. It might even increase in coming months with the likely return of a Grand Prix de France in 2013, five years after the last edition at Magny-Cours (Nièvre). In any case this was confirmed Sunday Team Bernie Ecclestone, the head of the entity managing the marketing rights to the F1 (Formula One Management), explaining that an agreement was reached with the Minister David Douillet of Sports for the organization within two years of this event easy pay day loans. But while the circuit bourguignon was losing money, why give up such an event at a cost estimated at 30 million? "It's an opportunity to generate additional revenue for the local economy, details of Sponsorship Director Hervé Bodinier 360, a specialized agency of the F1. Moreover, all economic actors approached the site of Castellet pushed in the same direction. Finally, it is a wonderful showcase for France, land of constructors, and great nation of motorsport. With the arrival of French drivers in F1 and good audiences, that is a very positive dynamic. "  

Worldwide reputation

Prime Minister Fillon has strongly supported the project.

We were waiting at Apple, here he teams up with the followers of the "kitchen air." French designer Philippe Starck developed with David Edwards, Harvard professor to whom we owe the inventions at least like the original "Whif" (the inhaler chocolate, green tea or coffee), a spray supposed to get the feeling drunk without drinking a drop of alcohol. Called "Wahh Quantum Sensations", this little spray 2ml of false airs stick lipstick releases 0.075 ml of alcohol at each spraying, enough, according to its designers, so that the brain is stimulated and feel the effects of drunkenness quick pay day loan. For Philippe Starck, this invention offers the consumer a way to "escape" without suffering "adverse effects" of alcohol. It allows you to experience "the smell of intoxication due to infinitesimal amount, a thousand times less than a glass of alcohol."

This little spray 2ml of false airs stick lipstick releases 0.075 ml of alcohol in each spray. Photo credit: FRANCK FIFE / AFP

We waited up to 100 billion for the valuation of Facebook at the New York Stock Exchange. It will be less: social network, which could make its debut on the Nasdaq on May 18, intends to sell 180 million shares at a price between 28 and 35 dollars in its IPO. This would allow the community to raise mastodon 5 to $ 6.3 billion. "We have no specific intended use for these recipes," says the site. Thus, the market capitalization of Facebook should approach the $ 80 billion.

Besides these 180 million shares, existing shareholders will sell 157.4 million shares, the proceeds of their return. In total, the sale of more than 337.4 million shares represent an operation to 10 no fax cash loans.63 billion dollars (the average price of 31.50 dollars per share), the largest entry of an enterprise of the net economy.

The estimated valuation for Facebook is the business of the net economy with the highest capitalization at the time of its IPO, largely eclipsing the $ 23 billion that Google was worth when he made his first steps as listed company in 2004. And yet, the figures released by Facebook could be deliberately modest in order to better announce higher and create a buzz.

With AFP

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