Archive for March, 2010
The debate rages on German economic policy based on wage restraint and exports. His partners in the euro area accuse him gone it alone and have dug their trade deficits. But it turns out that all countries have benefited in their own way of the euro.
"The member countries have not taken care of the single currency, everyone has benefited the euro without worrying so much impact on its partners and the euro itself, analysis Laurence Boone, chief economist at Barclays Capital faxless cash advances. The reforms sought by Germany, European Monetary Fund, tightened sanctions against the country are a first-lax response to past excesses.
The food entry level, including first prize or those sold in hardware discount, are not so good nutritional (fat, sugar) than those sold by the brands, according to a notice of National Council of Food published Tuesday.
"To say that cheaper products are necessarily of lower quality nutrition is unfounded," acknowledged for the first time, food manufacturers and retailers together in this independent advisory body.
Except
In an opinion adopted on Tuesday, the NAC is committed to inform consumers that "exceptions" and contrary to popular belief, food cheapest are not fatter or sweeter than the others.
The mission of the Working Group of the NAC, which was compiled and included eight studies conducted by consumer associations or research organizations, related only to the protein, carbohydrates and lipids but not on the quality of nutrients or substances first used online cash advance. For example, the NAC does not distinguish between fat from palm oil or rapeseed oil. But it recommends that such studies be conducted.The Board regrets that the media "explain obesity more common in disadvantaged by too high energy density foods first price compared to those of branded foods.
If poor children are more prone to obesity, not because they eat chips first prize instead of crisps brand but because they use chips to snack rather than a plain yogurt, writing including the NAC. The Board also considers possible to comply with dietary recommendations from 3.50 euros per day per person "in selecting foods (fresh or industrial Ed) in the lower part of the price range.
The decision could set a precedent, especially as members MSW since Wednesday on a new text box to better the consumer credit. The Tribunal de Grande Instance de Nancy has sentenced nine credit agencies to pay 35,000 euros in damages to one of their clients for failing in their duty to warn. According to AFP, organizations convicted include Cofinoga, Cetelem, Cofidis, Finaref and Sofinco.
17 credits for EUR 113,000
The victim, now aged 75 and retired, had in fact contracted some 17 credits from these companies since 1986, for a total of EUR 113,000, while his monthly income does not exceed 1,000 euros."The judge ruled that the duty to warn was not respected and that the consent of my client was not free and informed consent: there is therefore a loss for loss of chance of not getting," explains Philippe Gossin.
"The credit agencies are bound by an obligation to counsel and a duty to warn: that is to say, they should alert their clients of their financial situations and their ability to repay what they have not done here, "said Fabrice Gossin, counsel for the complainant, confirming a report in the daily L'Est Republican.
Continuation of credit offers
The court sentenced the credit agencies to pay 10 to 90% of remaining amounts owed in damages, according to the seniority of debt, for a total of 35,000 euros."What remains now practically nothing more to pay, welcomed the lawyers, however, that denounces the practices of organizations. "Then she stopped paying them and that we had set, she continued to receive offers of credit!," Says the lawyer, who believes that the ruling could "open a path and create a jurisprudence" .
From our correspondent in Berlin
Europeans will have to get used to the new face of Germany submitted to Brussels by Angela Merkel. Beyond the contingencies of domestic politics that fueled the intransigence of the Chancellor, asserted in a country at peace with both his past and uninhibited. Thursday, commentators congratulated themselves that Germanic Merkel has imposed its harsh conditions to rescue Greece. Bonn was the capital of Germany modest listening to its neighbors and allies. Berlin has become the standard of a country, focusing on their interests. It took twenty years to complete its moult.
"Never the cash drawer of Europe, welcomed on Thursday, the tabloid Bild, rejoicing that the EU will" break your teeth "on his" Iron Chancellor ".Germany post Third Reich was found in the European project in which positive invest.
Domestically, the social market economy was to protect against the resurrection of his old demons. Internationally, she played the card of modesty and reliability: Bonn merely a seat and do not skimp on the checkbook.
To Konrad Adenauer, Helmut Schmidt and Helmut Kohl, great "European chancellors, the Franco-German friendship was both a guarantee of peace for Europe and a way to reintegrate the country into the community of nations. "Meanwhile the role of government within the EU has changed," says Vice-President of German Parliament, Silvana Koch-Mehrin (FDP) low fee payday advance !!!???!!!?? ?!!!. The EU was enlarged and the checkbook German shrunk.We can not get rid of conflict by using German money as before. "
Germany, which erodes wages to boost its exports worries its neighbors. In Brussels, the Chancellor who wants to impose its financial orthodoxy by being applauded by the media in Germany. "Who are the best Europeans?" Questioned Thursday's Frankfurter Allgemeine Zeitung. "Certainly not those who go against EU rules, are willing to provide aid to Greece in the short term. Because the long term they also undermine the stability of the euro, encouraging other countries to conduct an unhealthy financial policy without fear of consequences. "
Angela Merkel is a continuation of his Social Democrat predecessor, Gerhard Schr?der, who had first felt the need to "normalization" of the Germans and had dared "decomplex" his country.It also folds to a reality imposed by the Constitutional Court in Karlsruhe. On June 30 last, the eight judges of the German institution had buried the European integration conditionally ratifying the Treaty of Lisbon.
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"Greece: Germany imposes its plan
The mobilization will she go in this Tuesday, two days in a large loss of the right in regional elections? Six unions (CFDT, CGT, FOR, FSU, UNSA, Solidaires) called on employees of public and private to a national day of action aimed at influencing government policy on political and social. At midday, the department estimated 21% share of the striking teachers, estimated at 40% for the SNES-FSU, while 11.45% of the postal employees would have mobilized in the direction. At the station, the strike rate was estimated at 28% by management, and 32% by the CGT. At RATP, it s'l?verait to 14% depending on the direction, the CGT-RATP not yet have figures to communicate. 180 rallies are also planned throughout France.
If it comes shortly after the regional elections, the appointment union had however taken immediately after the Social Summit in February, meeting at the initiative of the Head of State to discuss, among other things, the upcoming construction of the reform pensions. Two main points today crystallize opposition from unions, following a government reshuffle.
• Pensions: major point of contention between the unions and the government, the pension reform was launched at the Social Summit in February. While the dialogue should begin early April, several union leaders have spoken about this on Tuesday, sending a warning to the government. The CFDT leader Francois Ch?r?que has called for a reform that reduces inequality."Of course we must change our pension system, but it does not evolve towards greater social justice, this is again a loss of confidence in politics." Therefore, it could "be the sport at a social level," he warns. Jean-Claude Mailly, secretary general of FP, for his part reiterated on Tuesday his commitment to the LCI retirement at age 60, holding "absurd" the solution of longer working hours to alleviate the funding problems induced by the lengthening of life expectancy no teletrack payday loan . "If we follow this logic, women live longer should work longer," he argued.As for Bernard Thibault, leader of the CGT, he believes "we can not impose reform on accounting criteria exclusively, also challenging the objectivity of the Advisory Committee of pensions. "This appointment will be very difficult to carry," he predicted. Probably heard a speech by the new Labor Minister, Eric Woerth, who insisted on Tuesday on the need to "protect" the current system "an equitable reform.
• Employment: while the unemployment rate back above the 10% in the fourth quarter of 2009, the CFDT called for taking further steps to assist employees affected by the crisis. Pleading for an appeal to partial unemployment, training rather than dismissal, the leader of the CFDT has also called for financial support purchasing power and resources center for sustainable employment.The employees "have the feeling that we no longer speak of their real situation since September. An impression they would have in his Sunday expressed through the ballot box. The government must now "give strong signals, and change of method," he said. A view shared by the leader of the CGT, Bernard Thibault, who on Tuesday urged the convening of a new social summit at the Elysee. The meeting, a time desired by the head of state says he would aim to "take stock of the situation regarding employment, economic and social policy and purchasing power for practical decisions for implementing fast.
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"SNCF: traffic estimates for strike
The adoption last night of the great reform of health insurance, proud of the Obama administration is very important for the health sector, the United States and elsewhere in the world. Its impact on the health sector on Wall Street will be closely scrutinized.
The U.S. markets are getting better but still hesitant: the Dow Jones gained 0.26% to 10,770 points and the Nasdaq Composite 0.49% to 2386 points.
Investors will this week look at a few minor indicators, including sales in the previous Tuesday, and sales in the ninth Wednesday. Follow some figures on durable goods orders, before being released Friday, the latest estimate of GDP for the fourth quarter of 2009 and the index of consumer confidence.
Caution still dominates
Meanwhile, investors are still cautious amid the uncertainties that persist on the bailout of Greece. Even if the European Council held on Thursday and Friday in Brussels will not be much impact on markets, on both sides of the Atlantic, German Chancellor Angela Merkel have warned yesterday on German radio that "financial assistance to Greece is not on the agenda of the meeting Thursday …" But the pressure is raised a notch on Monday in Germany, for its approval a plan for financial assistance to Greece at the summit of EU leaders on Thursday and Friday.A summit to test the cohesion of the eurozone and the credibility of Europe.
The market does not, however, leaves destabilize or by poor statistics, nor by rumors: they whisper such as the Federal Reserve would again raise its discount rate by the next meeting of its Strategy Committee, Thursday . "But this is just an excuse to take some profits," says an analyst.
As for currencies, the euro strengthens against the dollar on Monday at 1.3548 dollars (0.28%) remains lower against the dollar on Monday after a brief foray as 1.35 dollar, dealers said opting for caution ahead of a summit of European Union, during which they will review again the Greek crisis.
The medicinal values rising
On the corporate front, the pharmaceutical values are well oriented.Pfizer Laboratories, Merck and Johnson & Johnson saw their shares rose by 1.88% to $ 17.23, from 1.76% to 38.73 dollars and 0.45% to 65.40 dollars. In contrast, health insurers are changing down: Humana fell by 2.20% to 48.90 dollars, UnitedHealth Group coward 2.27% to 33.61 dollars, Cigna lost 0.13% to 37.03 dollars Wellpoint and abandons 0.79% to 64.56 dollars. Aetna is only up 0.20% to 34.53 dollars.
Boeing (2.09% to 72.20 dollars) has announced an increase in production rates for Boeing 777 and 747.
As for publications expected will come on Thursday, Oracle and Best Buy, which will publish their earnings per share. Some computer companies (Red Hat Adobe Systems on Wednesday or Tuesday), builders (Lennar Wednesday) or deluxe (now Tiffany) also feed news.
Berlin turncoat. The German government has officially informed on Friday that he was open to assistance from the International Monetary Fund (IMF) for Greece, after long vigorously rejected this option. However, observers believed the case heard earlier this week. The Europeans had a specific plan, they said. Today, the hypothesis of an intervention of the International Monetary Fund (IMF) in favor of Greece resurfaced.
"The situation is confused, everything changes constantly," says an observer of the market in Frankfurt. "We came out of the Eurogroup, on Monday, with the idea of a specific action plan for Greece in case of need, but since patterns are changing." The markets reacted Friday to the renewed uncertainty .The yield on the 10-year Greek climbed nine basis points in early morning, reaching 6.44%, the highest since February 26, reports Bloomberg.
If Berlin exchange of views, the European Central Bank and Paris rejected an IMF intervention. "Bringing an external actor in the system is to acknowledge that lack a brick to the edifice of the euro area, as has long denounced the Anglo-Saxons," says Gilles Moec, economist at Deutsche Bank. For Jean-Claude Trichet, President of the European Central Bank, admitted this weakness is beyond question. This institution would be missing other than the European Monetary Fund recently proposed by Berlin.
The eye of Washington
Moreover, "the France and the European Central Bank fear of losing some control of European monetary policy by allowing the intervention of an international player," Peter Westerheide analysis, an economist at ZEW (Center for European Economic Research) guaranteed approval cash loans . The largest contributor to the IMF is the United States, leave the international organization for Greece is to give Washington the right to inspect the functioning of the euro area.
This argument is however a double edged sword. "Leave the IMF to pay back the United States to repair the crisis they themselves have caused," said Peter Westerheide. "Overall, the IMF is fed by many countries, the coup European countries pay relatively less in each case of assistance to Greece.This last point was what to seduce Angela Merkel, embarrassed by public opinion strongly opposed to any aid to the Greeks.
The IMF also has expertise in this kind of crisis. And for good reason: to help the country to the brink of bankruptcy, it is his job. The argument is advanced on the European scene, the Italian Finance Minister Giulio Tremonti: "Do not see the IMF as an external organization that meddles with what does not concern him, but rather as a bank offering … its capital and experience. "
These arguments, which seem to convince Berlin, partly defuse the blackmail of the Greek Prime Minister George Papandreou, if European aid too slow, it threatens to turn to the IMF. "Anyway, Greece can hardly resort to the IMF without the backing of other European capitals," said Peter Westerheide."His partners have enough pressure, especially through the many aid it receives from Brussels."
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"SPECIAL – Greece, a challenge for Europe
EDF may blow. The electrician was able to placate the European Commission on Wednesday announced the closing of an investigation for abuse of dominant position against the French group. The latter escapes a fine of up to 10% of its annual turnover (66.3 billion euros in 2009) by agreeing to open up the French market for electricity.
So far, Brussels accused of using the EDF length and conditions of its contracts to prevent its large industrial customers in France to turn to other suppliers of electricity. According to the European Commission, these customers would be about one thousand in France. These are companies consuming more than 7 GWh per year.
To complete the survey, EDF has made proposals in early November to unlock its long-term contracts with large industrial customers.The group pledged to open up each year 65% average volume of electricity it provides, limiting its contracts to five years and to offer its customers who want a non-exclusive contract, allowing them to provide in part from another supplier. These measures are valid for ten years, unless the market share of EDF falls below 40% for two consecutive years.
In the process, EDF has also agreed, again for a period of ten years, removing restrictions to date resale by its customers for electricity that they provide guaranteed payday loans !!!?? ?!!!???!!!.
Problems solved
After consulting with other market players, Brussels said that these proposals "would resolve the competition concerns identified.This "represents an important step towards the effective liberalization of markets of the French electricity major benefit of consumers and, by extension, the whole economy," according to the Competition Commissioner Joaquin Almunia.
Guarantees have been provided for that EDF can not circumvent its commitments. It will include submitting annual reports to Brussels and the French regulator's energy sector, the CRE. One false step, the giant electricity is exposed again to the fine.
EDF is not the first group to make concessions to avoid the record fines from Brussels.The U.S. computer giant Microsoft has already shown the way late December 2009, agreeing to provide European users with a choice of internet browser to its Windows operating system, which was previously exclusively bundled with the browser: Internet Explorer.
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"Areva and Alstom sentenced
Christine Lagarde is going to war against unfair bank charges. At the request of the Prime Minister, Fran?ois Fillon, Minister of Economy and Finance has commissioned a report to the former CEO of Credit Agricole, Georges Pauget, and chair of the Advisory Committee of the financial sector (CCSF), Emmanuel Constans. "Our goal is to protect consumers," she said into the microphone of RTL on Wednesday morning.
Bank charges: avoid abuse
The minister hopes to shed light on three issues in particular: the "cascade" of bank charges, billing services hitherto free, and finally, the establishment of systems of fixed costs "which include some services that consumers do not, "said Christine Lagarde.In an interview with the newspaper Les Echos on Wednesday, she said that instead "regulate all hair, she wants to ensure there is no abuse."I expect the report to the end of June," says she.
On 24 March, three days after the second round of regional elections, Christine Lagarde presented to the National Assembly a new position on the draft law on consumer credit: remove penalties release (charge made if a person makes one or more checks, Ed), "which are a real obstacle for small businesses.
Germany: Christine Lagarde persists and signs
The Minister is also back at RTL on her remarks Monday on the German economic model, stigmatizing the pressure on labor costs to focus its exports personal loans for people with bad credit . "My remarks have been interpreted negatively. While Germany has performed well for ten years.But in such times of crisis, the deficit country must do everything to reduce it, and those of surplus should not be assumed that they are the only engines of growth, "she says.
Less than a week after the lunch meeting between Gordon Brown and Nicolas Sarkozy in London, Christine Lagarde expressed disappointment at the postponement of the adoption of the Directive on hedge funds, and remains "determined that the text completion by late June.
The subject, which should be discussed Tuesday by the Finance Ministers of the Twenty-Seven, was withdrawn from the brink of the agenda by the Spanish Presidency, who chose not to vote on a text in this highly unpleasant state in the United Kingdom.Christine Lagarde will therefore not stop there, and push to revive the issue with determination, even displease its European counterparts.
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"The online banks do not attract the French" La France has no lesson to give Germany "
From our special correspondent in Mexico City
The figure is official. Mexican GDP in 2009 dropped by 6.5%, is one of the steepest declines in the OECD. What has become a rising star in Latin America? On the world economic map, Mexico, thirteenth largest by gross domestic product (GDP), is overshadowed by Brazil. The two countries share the same advantages, however: young and large population, oil wealth and agricultural, industrial potential … and the same disadvantages: clientelism and corruption, social inequality and crime records.
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