The Greeks are paying the price of the crisis with their health. So says a British study published Monday in the medical journal The Lancet. The explosion in the number of suicides, increased drug use or an increase in HIV infections are in fact the direct consequences of the recession but also of austerity in Greece.
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
Beijing puts pressure on the euro area. This Saturday, The People's Daily, the official organ of the Communist Party to power in China, called on European countries to act decisively to resolve the debt crisis that hits the old continent. "Europe is at a critical moment in its history. It must show great wisdom, great courage and great determination and take action. If the decision comes too late, some members of the euro area will leave "the daily warns.
Beijing, which was ready in early to invest more in Europe to diversify its three trillion dollars in reserves, could turn back if the situation does not improve quickly. "If Europe continues to dither, the situation can get worse. Foreigners who wish to help will not dare and the euro area will disintegrate.This would be a disaster for Europe and the world, "said the daily.
Nicolas Sarkozy will discuss with Angela Merkel
At the opening of Summer Davos Forum, Chinese Premier Wen Jiabao, however, had expressed his confidence in the euro zone leaders business card templates. "China believes that the European economy can bounce back," he explained. Support has already been taken in Greece, Portugal, Spain, and Hungary.
Friday, Nicolas Sarkozy, who met Greek Prime Minister George Papandreou, has again reaffirmed the determination of Paris and Berlin to support the country in which the probable default of most concern global investors. This last debate "in the coming days" with Angela Merkel of the rapid implementation of measures decided on July 21 to stabilize the euro area.For its part, Greece has called an extraordinary cabinet meeting of his government on Sunday.
ALSO READ:
"The Chinese investor holds a double standard in Europe
"SPECIAL CRISIS: fear of debt
Relief from international stock markets. Wednesday after the U.S. places, it's time for Asian indices on Thursday morning to welcome the statements of Nicolas Sarkozy and Angela Merkel reaffirmed their commitment to maintaining Greece in the euro area. The Asian markets – and notament Tokyo – earn up to 1.5%. For its part, the euro ahead by 0.5% against the dollar and 1.375 against the dollar is trading early this morning. The "future" on the European stock index Eurostoxx 50 show an increase of 2.50% on opening.
Following a conference call held late in the day Wednesday between Nicolas Sarkozy, Angela Merkel and George Papandreou, the Franco-German couple has been very clear in stating that "the role of Greece in the euro area. "In a statement released in the process, they attached a condition, however, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "
Since the Davos Forum held for three days in Tianjin, China, Zhang Xiaoqiang, deputy director of the China Development and Reform, confirmed that China stands ready to buy securities with sovereign debt states involved in the debt crisis.Earlier in the day, Chinese Premier Wen Jiabao had made statements to this effect while advising countries to reduce their deficits and to open their markets rather than relying on China to pay off the debts of the world's economies wide.
Similarly, the president of Brazil, Dilma Rousseff, said his country is ready to participate in a "global effort" against the economic crisis that affects rich countries, following the announcement of a meeting of countries emerging Brics (Brazil, Russia, India, China and South Africa) to discuss aid to Europe.The head of state stressed, however, that there is no "global solution" to the crisis and that much depends on the countries concerned.
For its part, the U.S. Treasury Secretary Timothy Geithner who should participate in a meeting Friday of finance ministers in Europe, had said before the conference between France, Germany and Greece, convinced that the Europeans "have financial resources to do what is necessary and avoid the collapse "of the euro area". He had, however, added that the Europeans will have to "recognize that they will have to do more and have fallen behind."
ALSO READ:
"Emerging countries would come to the aid of Europe
"Paris and Berlin reaffirm the role of Greece in the euro
In the wake of European stock exchanges and the CAC 40, the U.S. markets aparaissent significantly in the red on Friday, amid disagreements with the ECB and debt crisis. At the close, the Nasdaq and Standard & Poors'500 100 respectively lost 2.67% to 1154.23 points and 2467.99 points to 2.42%. As for Dow Jones, falling 2.69% to 10,992.13 points. This is the biggest drop in Wall Street during the past three weeks.
Markets such as increased losses when Jürgen Stark, member of the Executive Board of the ECB, announced his resignation for "personal reasons", the statement of the institution. The chief economist of the institution has repeatedly expressed his opposition in recent weeks to buyback of government bonds led the ECB to ease the most fragile countries in the euro area.To this must be added the increasing fears of a major failure of Greece that have undermined investor sentiment. "The markets are falling heavily as the big concern is about the crisis of sovereign debt in Europe, especially in Greece," summarized Peter Cardillo, Rockwell Global Capital.
According to analysts, the drop is also due Friday the threat of attack ten years to the day after the attacks against the twin towers of World Trade Center. Washington said Friday morning that al Qaeda was behind the threat of attack "specific, credible but unconfirmed."
In addition, markets have shown little convinced by the stimulus of employment presented by Barack Obama on the eve of 447 billion.Operators are skeptical that the U.S. president to implement his program because of opposition from his Republican opponents that could block the vote.
Expectations related to the G7 Finance
To this must be added the words of Christine Lagarde, Executive Director of the IMF, stressed the urgent need for additional capital banks.So far, investors have also expressed no confidence in the discussions of the G7 finance that opened Friday in London to try to find an answer to the crisis.
Another item, from China, was not enough to appease both sides of the Atlantic: Inflation has indeed slowed in China in August, which removes the fear that Beijing tighten monetary policy .
On the macroeconomic front, wholesale inventories reached a record high in July, rising 0.8% to 462.4 billion dollars, an unprecedented amount, in line with market expectations. Note that a first estimate of consumer confidence from the University of Michigan for the month of September is expected in the afternoon.
As for the euro, it is at present weighed down by concerns about increasing the economic health of the euro area and the global economic recovery.At the close of the New York Stock Exchange, the European currency fell to 1.3658 dollar (-1.63%), its lowest level since Feb. 23. For its part, the oil has finished on a decline, a barrel of "light sweet crude" for October delivery ended at 87.24 dollars, down 1.81 dollars compared to the previous day.
Threats to jobs at Bank of America
On the corporate side, no major publication was in sight Friday.
The job cuts planned by the management of Bank of America (-3.05% to 6.980 dollars) as part of its restructuring plan could affect 40,000 people, said Friday the Wall Street Journal Online, citing sources familiar with the . The group identified on 30 June nearly 288,000 employees. So far, estimates of job losses were around 30,000, while many banks worldwide have announced significant staff reductions.These reductions would occur as part of an extensive research program savings called "Project LAC", the acronym by which exchanged the title of the institution to the New York Stock Exchange.
Texas Instruments (1.08% to 26.08 dollars) remains small increase, after a warning issued Thursday night on its third quarter results, citing a decline in demand for semiconductors. IT had already warned in July that the current quarter would be modest. The group emphasized that this time the request had deteriorated to "a wide range of products, markets." The manufacturer of components that go particularly in the manufacture of mobile phones and automotive electronics, said now anticipate earnings per share between 56 cents and 60 against a previous range stretching from 55 to 65 cents.
The era of good times is over. China, which for years received lessons in economic policy by the United States, primarily relating to foreign exchange, takes revenge. While S & P has to sacrifice the triple A of the United States, Beijing, the largest holder of U.S. bonds in the world – by far, with 1,160 billion of U.S. Treasuries in the drawers according to figures from Washington published last May – now estimated to have "every right to require U.S. to address their structural problems of debt."
The Chinese government estimates that S & P has only confirmed a "horrible truth". One that was highlighted by the rating agency Dagong China, which has degraded the U.S. triple-A immediately after the agreement to raise the debt ceiling.She said "the days of Uncle Sam, crippled with debt, could easily squander endless amounts of borrowing from abroad seem numbered. (…) In order to treat his addiction to debt, the U.S. must restore the principle of common sense that we must live within its means. " For Dagong, the note of the United States increased from A + to A with, again, a negative outlook. According to the official Xinhua news agency, the adoption by Congress of a text to avoid a default of the United States failed to defuse "the bomb of debt." This failure to control U.S. borrowing could affect the "well-being of hundreds of millions of families in the United States and abroad," she lamented a few days ago.
In other countries, tempers
In France, Baroin, Minister of Economy, trying to reassure.First European official to respond to the thunder of the deterioration in the sovereign rating of the debt of the United States, he ensured that France "has full confidence in the strength of the U payday loans with no fax.S. economy and its fundamentals, and in the U.S. government's determination to implement the plan that was approved by Congress this week. "
Japan, the second creditor of the United States, said that its policy of buying U.S. bonds remained unchanged despite lowering their score. "Our confidence in U.S. Treasuries and their attractiveness as an investment will not change because of this action," said a Japanese government official told Dow Jones Newswires.Japan, which is trying by all means to curb a flight of its currency against the greenback, has no interest in selling its dollar assets for now since it would only strengthen the yen.
In South Korea, senior officials of the Ministry of Finance held an emergency meeting Saturday to analyze the consequences of the downgrade. But the government has warned against overreaction. "We need not be too worried about our economy and financial markets," said Deputy Finance Minister Yim Jong-yong. An Australian Prime Minister Julia Gillard has also called for calm markets. "At the same time, the other two major agencies, Moody's and Fitch continue to note the U.S. economy AAA. So I think people need to consider all the facts, "she said.In the Philippines, a spokesman for the Presidency said that the downgrade by S & P was "to some extent a wakeup call for the U.S. begin to seriously address their economic problems. We have confidence in their ability to do so. "
ALSO READ:
"The agency Dagong lowers the rating of the United States
"The agency Fitch confirmed the triple-A U.S.
"Debt: the United States have failed according to China
Raising the U.S. debt ceiling on Tuesday night after a Senate vote, did not end concerns. The harshest criticism emanating from the largest creditor of the United States, China. Washington failed to "defuse the debt bomb," has dealt the official news agency Xinhua on Wednesday morning.
To support this message, the governor of the central bank, Zhou Xiaochuan, announced that "foreign exchange reserves of China will continue to follow the principles of investment diversification and risk management." Clearly, the portion of funds invested in dollar continue to fall. "Large fluctuations and uncertainty in the market for Treasuries have an impact on the stability of the international monetary and financial system, and could affect the global economic recovery," said the Chinese official.Beijing has to worry: he has financial reserves of the largest in the world, or about 3.197 trillion dollars at the end of June, of which 1.16 trillion invested in U.S. Treasury.
The rating agency Dagong China has also downgraded the U.S. of A + to A, away from the AAA provided by Western agencies. She said raising the debt ceiling will "worsen" the situation. The show divisions between Republicans and Democrats in recent months "reflects the government's inability to solve the problem" of American finance, said she.
"A first step"
More lenient, Moody's affirmed the AAA rating of the United States, while combining it with a negative outlook. "The agreement voted Tuesday night is the first step to recovery of public accounts," she observed in a statement.But the financial health of the world's largest economy, and therefore its rating could be threatened if new austerity measures are not adopted in 2013, even if growth slows, or in case of sudden rise in interest rates.
The rating agency Fitch for its part, said Wednesday morning in a statement that it believes "the risk of default of the United States is extremely low." However, "the United States, like most countries in Europe, must confront difficult choices about taxes and spending in a sluggish economic recovery," and sufficient to redress public finances. Fitch confirmed Tuesday night the American note.
Standard & Poor's, the most influential of the three Western rating agencies, has not yet officially expressed.The director of sovereign ratings Takahira Ogawa, however, tried on Wednesday morning to alleviate the issues of possible degradation, "the market has to some extent already recognized the potential risk of a downgrade American." S & P had warned during the negotiations on the ceiling of the debt: the United States should save 4 trillion dollars over the next ten years to maintain their AAA. The plan adopted only on table 2.4 trillion.
ALSO READ:
"The agency Fitch confirmed the triple-A U.S.
"The U.S. Senate adopted the compromise on the debt
"United States: the shortcomings of the plan of the last hour
»COMPUTER GRAPHICS – The world seen by the rating agencies
Despite the withdrawal of support from the Ministry of Education, however, initiated the scheme in 2007, Operation "Essentials of the season" is renewed this year. The consumer association Familles de France, who led the negotiations only for the operation to be maintained, and obtained group Auchan, Carrefour, Casino, Cora and Système U marketing school supplies at prices that "most attractive as possible. " Items on a predetermined list, released by the department without committing to a price control, however, wants to "prevent slippage on the weight of school bag for children" must be placed on the shelves on Monday. They will be marked with a label.
The binder excluded from the list
The list 2011 includes thirty references, from books to filing through the rubber and pencil sharpener.This year, it does not ultimately buy a binder. The withdrawal of the article led the Federation of Parents for Public Education (PEEP) to leave the negotiation. "We recognize the economic reality and the context of rising raw material such as that 40% of the price of pulp, said Daniel SCHWARZ, treasurer of PEEP. That's why we were ready to discuss a positive impact on prices, perfectly stable since 2007. But the fact that teaches unilaterally remove the binder from this list, it is not acceptable. The binder for us is critical, there is. "
Rising prices
Creyssel Jacques, managing director of the Federation of Commercial and distribution (FCD), whose members are the retailers participating in the operation, has stressed during a press conference that the prices of "Essentials of return "would increase. "The increase will be moderate," he promised, however. Brigitte Masure, president of the Confederation of families, intérogée by Le Parisien, Aujourd'hui en France believes that the purchase of supplies back last year cost 40 euros for a child to kindergarten, 113 euros for a PC, 337 euros for a sixth and 821 euros for a second student to technology. The invoice should climb this year.A study published in late June by the online shopping site Twenga revealed that the average cost of supplies were increased by 18% compared to last year.
ALSO READ:
"The 'Essentials of school" renewed
"The 'Essentials of the season" would be held in 2011
After a series of tests in the United States and a presentation in Europe under the Air Show at Le Bourget in June, All Nippon Airlines this week hired a campaign commercial test flights of B 787 in Japan . "The aircraft has already been tested by Boeing in the United States. Rather, it is here to check it fits well with Japanese airport infrastructure, "said a spokesman for the airline. The B787 must make several flights and ground handling at Tokyo Haneda via Kansai, Okayama and Hiroshima.
ANA, which is the company launching the new long-haul Boeing, should receive its first aircraft in August or September is more than three years behind the original schedule, which promised a first delivery in May 2008.The first two aircraft will carry a special livery combining white and blue display in the front of the unit's name in large letters. The first Dreamliner will be made available on domestic routes before being placed in service between Japan and Europe and the East Coast of the United States. ANA hopes to lead a fleet of 14 B787 by March 2012 (24 and a year later) of the 55 ordered to commence intercontinental flights no later than spring 2012.
So the final stretch for the Dreamliner.By the end of the summer, Boeing will complete the certification campaign and deliver the first aircraft and then initiate the ramp-up that should cause it to produce 10 B 787 a month in 2013 (against 2 per month in 2010 ) including seven in Everett, the birthplace of the Industrial U quick pay day loan.S. manufacturer and 3 in a new assembly plant based in Charleston, South Carolina, which opened on June 10.
Future B 787-10 announced in 2012
The stakes are high for Boeing who had not designed a new device from the B 777 in 1995. Launched in 2004, 787 B has made a commercial breakthrough with impressive 835 orders from 56 airlines. It has several technological breakthroughs including the massive use of composite materials. They represent 50% of the primary structures including the fuselage and wings of the aircraft.It also promises a fuel economy of 20% compared to legacy aircraft and new life on board passengers with innovations in the cab. B 787 family currently has two versions. The smallest, B 787-8, can carry between 210 and 250 passengers depending on version and its range is between 14 200 and 15 200 km (between 7650 and 8200 nautical miles). The largest, B 787-9, provides between 250 and 290 seats and its range reaches between 14 800 and 15 750 km.
The family may soon grow up with a B 787-10. The leaders of the Boeing discussed at the last Paris Air Show, suggesting that a formal announcement was possible in 2012. "We talked with the airlines and we have received strong expressions of interest," said Nicole Piasecki was then, Boeing vice president in charge of product strategy.With B 787-10, and Boeing could meet the future Airbus 350-1000, the largest member of the family future A 350.
Reportedly, 25 investigators raided two days during the siege of Servier in Neuilly, last Wednesday and Thursday. The search "lasted long," said a source familiar with the matter. More than ten companies in the first behind French pharmaceutical Sanofi-Aventis have been involved and this on several different sites in France. Private homes, including that of the group's boss, Jacques Servier, now 89 years old, also located in Neuilly, were also visited. The founder of the laboratory is married to Madeleine Trembaly past two years. At 84 years old today, this woman is the former president of America Servier. In addition, the office of Jean-Philippe Seta, Executive Chairman of the group, was also searched."Although the household had been done but there were still many things on the spot," said another source familiar with the matter.
These searches were involved in the judicial investigation conducted by the Paris prosecutor on the scandal of the Mediator, the drug reserved for diabetics and marketed in France from 1976 to 2009.
The investigators sent belong to the Central Office of the struggle against environmental damage and public health (OCLAESP) and the Division of Financial Investigations (Dnif). The Dnif trafficking investigations on violations of business law, including, for this case, the illegal taking of interest. "The goal is to understand things in their entirety to identify all of what has been committed," confided another source free business cards.Pascal Gand judges and Anne-Marie Bellot's public health division of the Tribunal de Grande Instance of Paris and Franck Zientara who drive these two surveys were present during these searches.
Currently, two criminal investigations are opened in Paris, one for manslaughter and involuntary injury, the second for aggravated fraud and making illegal interests. As part of this investigation, it is "deception on essential qualities of the product," ie having sold a drug, in this instance an antidiabetic suspected actually an appetite suppressant . 'Deception about the risks "for having sold a product without informing consumers of its side effects.The Mediator is accused of being responsible for causing heart valve (valve disease) and lung diseases (pulmonary hypertension) that can sometimes require lung transplant. According to several studies, these diseases are responsible for the deaths of 500 to 2000 people in France. The lab always categorically deny these figures.
February 7, investigators had already moved the headquarters of the laboratory as part of a movement of justice.
Servier Laboratories, established in 1954 in Orleans, currently employing over 20,000 people worldwide including 5,000 in France.
For the 9th consecutive year, the Great Place to Work Institute (GPTW) publishes its list of the companies in which to work in Europe. With a small change this year: the two traditional classifications of societies and more than 500 employees, has added the business called "multinational". Test required to integrate this category have been nationally ranked "business in which to work" in at least three countries.
Filed in 16 countries throughout Europe, Microsoft wins first place in the top 25 multinational companies. The U.S. computer giant is closely followed by two compatriots: the biotechnology company Amgen (Applied Molecular Genetics) and the food group Mars.