4 billion in debt

Whatever the future president, he will have the difficult task of restoring calm in a group rocked by scandal and poor performance. In the first nine months of 2011, sales were down 21%, the loss reached 324 million euros and the debt has ballooned to 4 billion euros totally free credit score. The share price collapsed to below 3 euros. The rating agencies are threatening to degrade the group to the rank of junk bonds.

Giuseppe Orsi has already launched a restructuring plan announced divestitures and able to generate a billion euros to deleverage the group. The only sale of rail division will not suffice.

The strategy's return

M & S logo (CD)

Knowing that the debt situation of Rome worries, even if the prime minister, Silvio Berlusconi, seems to have succeeded in extremis to convince its ally the Northern League to accept a pension reform required by its European partners in exchange their solidarity. Thus, the Heads of State and Government of the euro area may call Wednesday the European Central Bank (ECB) to continue its purchases of bonds to support Italy and Spain, according to a draft of their summit conclusions which Germany said, however, disagree for now.

A meeting of finance ministers canceled

Sign of the nervousness that dominates in Brussels: a meeting of EU finance ministers considered a prelude to the Summit of Heads of State and Government of Europe has been canceled.The meeting, originally convened at the request of countries outside the euro area to increase coordination with the countries of the euro, was removed from the agenda because some details of the discussions were not yet finalized, said several sources.

Furthermore, doubts remain about the effectiveness of the EU. "The European plan should improve the situation, but it will be nearly enough to end the crisis," summarized Douglas Elliot, the pole of economic studies at Brookings Institution. Clearly, all eyes are now turned towards Brussels. Prime Minister François Fillon asked Tuesday the issues preventing a failure "could push the European continent to unknown lands."

On the macroeconomic front, in France, INSEE will publish its economic survey for the month of October in the morning.For its part, the euro appears to balance against the U.S. dollar, rising 0.08% to 1.3921 dollars.

Values ​​to follow

• The banking sector, with Societe Generale (0.29% to 19.1 euros), BNP Paribas (-0.4% to 30 paydayloans.66 euros) and Credit Agricole (-0.2% to 4.9 euros) is under the spotlight as the International Monetary Fund (IMF) is considering taking part in a special investment vehicle that would be created by the European Financial Stability (EFSF). Although no decision has yet been made, officials said yesterday the euro area.

• PSA Peugeot Citroen (-2.4% to 16.45 euros) shows the largest decrease in the ACC after the revisions of its performance targets.The automaker, suffering from difficulties in the European market, also announced a plan for additional savings for 2012 of EUR 800 million which should have consequences for employment. The group also announced a new investment the order of 530 million euros in Brazil.

• Saint-Gobain (-2.2% to 32.2 euros) confirmed its 2011 objectives despite the deterioration in economic conditions which could lead to slower growth in the fourth quarter of the group.

• Ingenico (4.28% to 28.28 euros) estimated that the turmoil in the economy does not question its forecast for 2011, thanks to particularly strong sales growth in emerging and Europe, but the manufacturer of payment terminals has remained silent on the year 2012.

• Mersen (2.9% to 29 euros) which confirmed its 2011 objectives, supported by strong solar activity, and Asia, said he was careful, however, for 2012 due to economic climate remains uncertain.

• Lafuma (0.31% to 16 euros) confirmed its earnings targets for the year 2010-2011 following a growth of 1.7% of its turnover in respect of all of its financial year fiscal.

• JCDecaux (-0.34% to 19.22 euros) has renewed its contract to operate advertising space of the two airports of Lyon for a period of ten years."With more than 8 million passengers and 50 airlines serving 120 destinations direct airport Lyon Saint-Exupery Airport is the second French region's busiest," the group said in a statement.

• Danone (-0.1% to 47.9 euros) French giant Danone Agri-Food announced Wednesday the upcoming cancellation of 6.6 million of its own shares, representing 1.02% of its capital. These actions were originally intended to reward deserving employees through a stock option program, abandoned in October 2009.

• Air Liquide (-0.99% to 91.21 euros) on Wednesday released a turnover up 4.9% to 3.6 billion euros in the third quarter, a level of growth slowed due in an unfavorable comparison base and a slowdown in some markets.

"The PMI data are currently consistent with a negative growth rate (of about -0.5 or -0.6%) for the third quarter," that is the beginning of a recession, worries Jack Kennedy, economist at Markit. The French government, which still formally table a growth of 1.75% in 2012, suggested Friday that it has revised downwards this goal.

The contraction in activity has particularly affected the service sector. He has recorded its sharpest fall for 27 months, 46 points, against 51.5 in September. The industry is not much better.Despite a slight improvement, she underwent her third consecutive month of decline, to 49 points against 48.2 the previous month.

"The impact of European debt crisis may be felt on the real economy," says Jack Kennedy. Markit Economics and recorded "a further decline in confidence in the services sector." "The growing uncertainty surrounding the evolution of the economy leads in fact companies to revise downward its business prospects to twelve months, the optimism of the service providers also display its lowest level since April 2009" , notes the Institute for Financial Studies cash advance flexible payments.

Very little sign of hope for a quick turnaround the economy, companies have seen a decline in the volume of new business, "the highest in almost two years," notes Markit Economics.Especially in services, providers are concerned about "the largest decline in new contracts since July 2009." In industry, the decline in sales is that alarm. A trend in both export and domestic market.

Slowdown in Germany

The slowdown in activity is not only France, but also German industry. For the first time in two years, the PMI for the sector fell to 48.9 points in October, against 50.3 in September. Unlike the Hexagon, however, services are able to climb out of the area's 50 points marked a growth in sales, to 52.1 points, 49.7 points against the previous month.Overall, notes Tim Moore, economist at Markit, "uncertainty about the euro area largely explain, according to the companies, investment reports and cuts in non-essential spending."

ALSO READ:

"Crisis of the euro: the French pessimistic

"GRAPHICS – The euro crisis: history of contagion

"The morale of the bosses down slightly in October

Six weeks ago, Canal + gave a big kick in the PAF, announcing the surrender of the two Bolloré DTT channel Direct 8 Direct and Star. The next day, Jean-Marc Morandini, "Mr. Media" commented one of Europe experts with the likely impact of this acquisition on the programs of the chain. A question for Jean-Marc Morandini in the first place, since officiated in five years on Direct 8, where he now presents two programs: "Morandini!" A daily talk show for over an hour on the media , released at 18:45, and the issuance of news items "Presumed Innocent", which aired twice a month in prime time. "I do not know if I fear this change, because we represent a large portion of the hearing of Direct 8. This week, "Presumed Innocent" Live 8 was passed in second place of DTT at 20:45. It all depends on what Canal + will do just that chain.At the moment, I do not know, provides the facilitator. We'll talk when the time comes but for now I'm not too worried, unless they really want to make a very different line, with only series and sports for example. "

If "Presumed Innocent" to beat his record of the hearing Tuesday, with 3.3% market share, and 804,000 viewers on average (with a peak of 1.17 million), the hearings "Morandini," have had difficult to take off since September. Since September, 400,000 fans of the media follow him on average every end of the afternoon, against 700,000 at the best of the previous season. "We fumbled a little early because we had stayed on the trend of last year which was that every time we talk about reality TV, audiences explode. There was a real demand from viewers. This is not the case this year.People are perhaps a little tired, the characters are somewhat less charismatic, so we changed our tune after fifteen days. We have invited less oriented "people", with a little more background, "explains Jean-Marc Morandini. With the approach of a major electoral event and in a context of crisis, the facilitator discusses the need to provide more information than entertainment, "People want programming where we learn something and not just where people come to their show. "

"Very advanced negotiations"

Present since 2003 in Europe 1, Jean-Marc Morandini also inherited at the start of a new installment for its "Grand direct media." The program now starts 90 minutes earlier at 9:30 for an hour of news media. "It was a request on my part, I would even begin to comment at 9 o'clock live audiences.This is the best time to issue a media: early to react immediately to what happened in the evening and be the first to provide information that can be. " The first audience figures on this new box should be available in mid-November.

Jeanmarcmorandini.com creator of the site, the host is present on three media. Still owns the site, however, it is entered in "very advanced negotiations" with Bolloré Media for an equity stake in the site. The facilitator explained that he had several proposals for acquisitions, but said he had "never sought to sell it." The time seems appropriate, while jeanmarcmorandini.com, long time near monopoly in its field, is now closely followed by new entrants.Last May, the site Pure Media (formerly Ozap), with 1.02 million unique visitors came to tickle its approximately 1.25 million unique visitors per month.

And to justify his choice, he evokes the editorial freedom of the likely new shareholder. "The site needs to move to a higher stage. The interest for me is that Bolloré Media is in print. And the group will separate its channels. I go to them will be in an independent and not be bound to talk about television. " It is likely that the proximity to his current employer (up to the finalization of the sale of Live 8 on Canal +) also facilitates the transaction. The moderator believes that it should be signed in the next two days, and states that retain editorial control of the site.

"All the Buzz Media

In the new project – budget of 435.5 billion euros – these are basic aid to boost growth and employment. "The average income of a farmer is still below 40% in other sectors," says one in Brussels. But they must be better targeted and more accurate.The Europe that "for years", has prompted farmers on the road "to productivity without constraint," should move towards "sustainable production practices," noted Ciolos.

Specifically, the aid will cover more than "active farmers", referring to the subsidies received by golf clubs or airports. They will also be progressively reduced from 150,000 euros per year per farm, while taking into account the number of jobs created, and will be capped at 300,000 euros. Dacian Ciolo wants to establish a single payment per hectare, to promote extensive agriculture and non-intensive, as is the case in France or Italy, where the aid is based on production levels.In fact, there are still large disparities between, for example, Greek or Italian farmers who receive some 400 euros per hectare, as against less than 100 for Latvian peasants no fax pay day loan.

Emergency reserve

The objective is to achieve by 2020 a rebalancing of budgets between states. The countries of Eastern Europe will see their share rise but France will continue to be the main beneficiary, receiving 7.6 billion euros a year, followed by Germany (5.1) and Spain.

To cope with crises and deregulation of markets, safety nets – private storage, mutual funds … – Brussels will be maintained and can tap into an emergency reserve of 500 million euros a year.

On the environmental side, 30% of farm payments will be conditional on good practices, namely set-aside 7% of the total area, minimum diversification three cultures.The Commission also proposes to double the research budget to promote innovation and support for young farmers under the age of 40 years, during the first five years of installation. It remains to convince the MEPs and the 27 Member States. The negotiations will be already difficult to reach an agreement by early 2013 at the latest. France has already expressed support for "the principle of greening" but believes that at the proposals from Brussels do not correspond to "the economic substance of operations." Same story with the FNSEA.

ALSO READ:

"Sarkozy defends the future of young farmers

Depression and suicides on the rise

While the island is experiencing its worst recession in 40 years, doubling the unemployment rate in two years more than 16% leads to more and more Greeks to depression and drugs. In fact, suicides increased by 17% between 2007 and 2009 and 40% in the first five months of 2011 compared to the same period last year. Figures all the more impressive as the Greek statistical authorities, the suicide rate in Greece was among the lowest in the EU between 1990 and 2009.Some cases were particularly marked population, like that of a former businessman who has defenestration, leaving a note in which he explained that the financial crisis had had the better of him. Or that of an owner of a small store, found hanged under a bridge, with a letter that read: "Do not look for other reasons. The economic crisis has led me to this. "

Drug use has also risen sharply. Heroin use in particular has increased by 20% in 2009. And even more so in the context of austerity measures imposed by the international rescue plan, control programs against drugs has been reduced by one third fast payday loan no faxing.

A trend that explains the 50% increase in the number of HIV infections at the end of 2010. Researchers predict that the contamination will increase by 52% this year compared to last year.In addition, drug users have less access to small jobs or for pocket money from their parents, some of them prostitutes, which in the case of unprotected sex, also contributes to the spread the virus.

Public hospitals overwhelmed and corrupt

Finally, rising unemployment means that many Greeks no longer receive health coverage provided by their employer. Thus, those who consulted in the private massage now in public hospitals. Now hospitals have seen their budgets melt 40% between 2007 and 2009. A diet which leads to problems of lack of staff and medicines and waiting times exorbitant lead some patients to pay bribes to get an appointment earlier.

Result, the number of people who give to see a doctor when they are sick has increased by 17% between 2007 and 2009.The number of those who describe it as being "bad" or "very bad" health increased by 14% in two years. "Overall, the picture of health in Greece is alarming, the authors conclude. It reminds us that, in an effort to debt financing, they are ordinary people who pay. "

ALSO READ:

"Tour of Europe's austerity plans

"Deficit reduction is entirely due to the transport sector," stressed the customs in a statement. Remains that over the last twelve months, the gap between imports and exports widened to 66.8 billion euros, against 51.5 billion for 2010.

Exports reached on August 37.42 billion euros, up 2.9% at three months. Airbus sales have been strong high for the month of the year, thanks to the delivery of three Airbus A380 super jumbo guaranteed fast personal loans.In addition, France has delivered two satellites, one in China (112 million) and the other in the United States (130 million). The performance of aerospace and aeronautics, powered shots of large contracts, are very volatile from one month to another.

The rest of the industry has pretty well taken for export, Customs noted "particularly strong for industrial machinery and electrical equipment, industrial exports are fixed for the chemicals."

Imports in turn was driven by the manufacturing industry (chemicals, rubber, plastics, industrial machinery, etc.).. "Imports are also rising, particularly since the European Union (Ireland, Germany, UK and Netherlands), 'the Customs.

This counter communicator, which allows to know its power consumption in real time and thus better control, will be installed progressively from late 2013-early 2014. A five-year period is planned to equip 35 million consumers, knowing that the European directive assigns a target that 80% of users are in possession of this tool in 2020. "This counter is a future asset for the modernization of the electricity distribution network.It will particularly help to end the current system of estimated bills, sources of discussions, said one industry player. In addition, the meter installation will require the creation of over 10,000 jobs. "

Throughout the past few weeks, a severe battle was between ERDF – a subsidiary of EDF in charge of distribution – and local authorities about the property counters Linky. Upon arrival, the government has not decided to change the current law, which states that the networks, which include counters, belong to communities. In support of its reflection, the government relied on the report of "Committee Linky" on the generalization of communicating electricity meters in France easy payday loans.The report, led by parliamentarians Ladislas Poniatowski and Jean-Claude Lenoir, was sent Sept. 21 to Eric Besson.

According to the overall pattern was retained, ERDF will be responsible for ordering and installation of new meters. These will be installed free of charge, the government decided that not considering either a tax increase for network use, one of the elements of the bill paid by customers.

A cost of 4.3 billion euros

To support ERDF therefore, which plans to spend 4.3 billion euros to widespread program Linky, to compensate for this investment by productivity gains achieved through this tool. For example, the new meter will perform many interventions that will distance the presence of agents of ERDF to the customer will no longer be necessary."But whatever the gains, a system of passing on costs is possible sooner or later," suggests an industry expert.

As for local, they indicated that the expected effectiveness of the new meter is fully proven. In other words it is shown that consumers can realize significant energy savings. Widespread Linky is a crucial element of energy efficiency policy of the government at a time when energy prices rise.

ALSO READ:

"The government is considering a smart meter free

"Linky: EDF tests new paid services

"The failures of new electric meters

"Defends the ERDF smart electricity meter

Moreover, the triggers of the tax should evolve in the parliamentary debate in the fall. MPs and senators want to hit the contribution of lower incomes.Bercy seems willing to compromise around an entry threshold to 250,000 euros per person (and 500,000 euros for a couple).

ALSO READ:

"Employers could pay for high salaries

"Fillon launches major plan" anti-deficit "for France