Greek in the storm, the galley of the euro features a 18th passenger. It is not a secret, he even want to take orders. The United States is also concerned about a shipwreck in Greece that the Old Continent. They have continued to print their tempo in recent days to force the European crew to recover.
In Luxembourg, held since Sunday in yet another ballet departmental emergency, the American effort has found a leader: John Lipsky, the IMF acting boss since the resignation of Dominique Strauss-Kahn. Monday, early morning, we have even seen take the pen and help correct what would become the final declaration of the Euro, according to several witnesses. Gender confusion? Among the Europeans at least, there is no doubt about the role vested in this native of Iowa, former chief economist at Salomon Brothers and JPMorgan."Lipsky is the U.S. Treasury and defending U.S. interests in Luxembourg, 'says one diplomat. The CEO can afford. Age 62, he announced his retirement before the arrest of DSK.
Under his leadership temporary, the IMF has taken a much more demanding vis-à-vis the financially troubled countries of the European Union. The turning point came during a visit to three with Angela Merkel and Wolfgang Schäuble, on the sidelines of the G8 summit in Deauville, said a European official. Prior to the rescue of countries such as Greece, Ireland and Portugal, the fund was content with a European political commitment. Since then, he stands still as his balls timelines, detailed austerity plans and supports encrypted.This partly explains the surprise decision of the Eurogroup, on Monday, to condition the release of the fifth tranche of the loan to Greece promised a vote by Parliament in Athens, new austerity measures and to a credible plan for privatization.
"Germany, a key country"
There is no mystery no longer on Washington's annoyance at the failure of the seventeen countries to overcome their susceptibilities to seriously address the problem cheap business cards. "Over the past year, the euro will fall into relapse and we see only bandages to stop the bleeding, said a U.S. official. The problem consumes time and energy of the Europeans. The world turns and do not wait. "It is also the best interests of the United States. A weak euro would threaten the sustained U.S. recovery, not to mention a rise in interest rates.More seriously, a European banking meltdown could spread to the other side of the Atlantic, reflecting the collapse of Lehman Brothers in 2008. For the second time in less than a year, Barack Obama is telling the Chancellor that it needs to hand the wallet in favor of Athens. "Germany is the key country," stressed the president.
Christine Lagarde, a candidate for the succession of DSK, is more eager to place the main shareholder of the IMF. On the night of Sunday to Monday, the French minister took it upon herself to keep closely informed Treasury Secretary Timothy Geithner. It was not a "phone G7" as improperly submitted.But a conversation to explain that two vital partner why 17 had once again decided not to decide on Greece.
Appointment is made Sunday, July 3 for a new conclave of the Eurogroup dedicated to the Greek debt. With the cap of the IMF, but also speaking on behalf of Washington, John Lipsky has not concealed his impatience Monday. He commanded the Europeans to "immediately put an end" to their debate on the restructuring of debt and start a new fund to rescue the euro. And he clearly put in danger the balance, "This is to prevent the crisis spreading from the periphery of Europe to the center and from there to the rest of the world."
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"The resistance against privatization is organized
The fear of bankruptcy Greek has never been stronger. Sunday, finance ministers of the euro area have again met in Luxembourg to lay the foundations for a new rescue plan, this time involving the private sector.
To address the most urgent, priority was first to validate the fifth installment of the loan of 110 billion made last year in the first aid plan. "We will work to pave the way for the release" of this slice of 12 billion, assured the German Minister Wolfgang Schäuble on arrival. Otherwise Athens, facing deadlines refinancing risk bankruptcy next month. However, the decision could be taken only Monday, after the meeting, warned the President of the Eurogroup, Jean-Claude Juncker.It is also linked to the IMF agreement, which should provide about a quarter of the promised amount and conditioned his release date for further progress in economic reforms in Greece. But ministers were mostly working on a new rescue plan, with "at least an agreement in principle", according to one diplomatic source. The amount could approach that of the first packet. If the principle is an act, the terms of this extension will however be referred to the next meeting of finance ministers, scheduled July 11. The big question concerns the involvement of banks."We'll talk tonight about the involvement of private creditors, the question is how far it can and must go," summed up Jean-Claude Juncker.
"We play with fire"
Friday in Berlin, Nicolas Sarkozy and Angela Merkel had outlined the mechanism, with four main principles: voluntary participation of private creditors, approval of the ECB, nor a "credit event" and rapid implementation instant payday loan. But Wolfgang Schäuble Sunday as Chancellor reiterated that the participation of private creditors should be substantial. Germany prefers the idea of longer maturities on debt, where Paris defends the option of "rollover" that would see creditors renew their credit lines in Athens at the maturity of loans.For Europeans, the most important thing is to convince investors that it is not part of a payment default.
"We play with fire," warned Saturday the President of the Eurogroup. Bankruptcy of Greece "may be contagious for Portugal and Ireland and, before Spain, to Belgium and Italy, given their heavy debt." And in this game of dominoes, the Belgian Finance Minister Didier Reynders, did not rule out that France is also reached, "when you see the level of deficit and debt." The financial world has been rocked in 2008 by the collapse of Lehman Brothers, he said in an interview with The Tribune."Do not repeat this type of bankruptcy."
After the reshuffle of his government, Prime Minister, George Papandreou, has, meanwhile, claimed Sunday the confidence of Parliament in order to get its austerity plan in late June, and thus obtain the release of the new international aid. A vote is expected Tuesday night.
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"Greece is planning a referendum on the rigor
This is an internal document particularly embarrassing for PSA Peugeot Citroen has revealed to the press the CGT, Thursday morning. While the band prides itself on being the "good student" automakers, Renault face, producing more in France, this policy brief program does nothing less than the closure in 2014 the site of Aulnay-sous Bois, one of the largest employers in Seine-Saint-Denis with 3600 employees and is considering the site Sevelnord at Hourdain, North (2800 employees). Evidence that the government takes the matter seriously, Philippe Varin, the boss of the group, was convened Thursday night at Bercy by the Minister of Industry, Eric Besson, a head-to-head. "
The group is obviously not expected that this confidential document was made public.But unfortunately he found, after a bad manipulation, free access to a computer server manufacturer.
Click image for larger graphic.
The four-page report, called the "secret plan Philippe Varin" by the CGT, was written by two senior executive industrial August 23, 2010. Its purpose was to improve the competitiveness of European sites in 2020 and was to be presented to the general management committee (CDG) on September 8 and the strategic committee of the supervisory board on September 28.
In this note, PSA identifies several mechanisms to "drastically reduce" the "cost of manufacture" on small vehicles by 2020. And so the group plans to reorganize its industrial French.Stating that it is a "recall of decisions emanating from the steering committee group in January 2010," the authors point out that he was "determined an adjustment capability of 200,000 vehicles with an emphasis on site of Aulnay .
Not well seen by the Elysee
About this site, which manufactures the C3 – the best selling car by Citroen – the "social plan" is planned for 2013, and "stop", "Current 2014". "This schedule is consistent with the guidelines of the CDG in January 2010 placing the window listing possible, in the French electoral calendar, in the second half of 2012, the company said, aware that a plant closing announcement would not particularly well seen by the Elysee by the presidential election guaranteed online personal loans.The plant's production fell to 195,000 in 2010, against 418,000 vehicles in 2004 (and 6200 workers), according to the CGT.
Beyond the reductions of fixed costs, estimated at 68 million euros per year, the land transfer, "estimated at 300 million euros", "allows a return on investment of less than ten years." Meanwhile, the increase rates in Poissy, which has become "one major hub in the Paris region, and in Mulhouse, in order to increase the utilization rate of these plants.
About equally explosive, PSA is also considering writing the closure of the Sevelnord – where the partnership with Fiat will stop – in 2015. Under this scenario, the production of large MPV is tilted at the latest within four years, to a low-cost countries.The other option is to maintain the site in exchange for public subsidies.
Aulnay Sevelnord but Madrid are described as sites "away from the criteria of excellence" of the group in terms of logistics, "Urban Environment" and "social costs".
In his defense, the group said, speaking through its industrial manager, Denis Martin, note that the CGT was unveiled by a document "preparatory" now "obsolete" because it "corresponds to a situation of early 2010. The closure of Aulnay "is not relevant today," he stressed, adding that on all the sites he could not comment on the sustainability beyond the horizon " 12 to 18 months. " This does not exclude a close after this period.A central committee (IAC) will be held exceptionally in the coming days on this subject.
According to Jean-Pierre Mercier, Steward Aulnay CGT, the largest employer of the department, "that we live in the plant proves that management carries out its plan for several months with the arrest of a night shift at Aulnay and its inception in Poissy. "
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.
Analysts had anticipated a pleasant surprise in the first quarter for Publicis. They were right. The advertising group recorded organic growth of 6.5% over this period to 1.286 billion euros, against 3.1% in the first quarter of 2010.
An Unusually, this performance is due to the good performance of Latin America (organic growth up 8.7% in the first quarter), supported by Brazil (+20.1%), U.S. USA (+8.4%) and Europe (+6.2%) boosted by France (+8.2%). In contrast, the Asia-Pacific is growing only by 1.5% due to the earthquake in Japan and floods in Australia. China limits the damage with a growth of 8.2%. "Our exposure in Japan is low. The earthquake and tsunami that struck countries, such as the revolts that took place in the Middle East, will negatively impact any of our forecasts for 2011, "said Maurice Levy, Publicis chairman.The boss of the advertising group is also stayed very evasive on the subject, merely indicate that "a 5% growth in sales in 2011 would be a very conservative forecast."
"We outperform the market by 2011"
Thanks to the good performance of China, Brazil, but also Russia and India, growth in emerging countries amounted to 11.4% in the first quarter. Digital activities alone represent 28.2% of Group revenue (against 27% in 2010). "We do not show much innovation and therefore continue to invest in growth markets such as digital and emerging" quips Maurice Levy. Digital activities and represent emerging elsewhere 48.3% of Group revenue in the first quarter "in line with the group's objective is to achieve 65% of its income on these two segments," says he .
The advertising market, the subsidiary of Publicis, ZenithOptimedia, has yet reviewed this week down its forecast for investment growth in 2011 to 4.2% against 4.6% due to the disaster in Japan and uprisings in several countries Arab. But that does not diminish the confidence of Maurice Levy. "Advertisers have not stopped their campaign, assures the President of Publicis. We found no concern on their part. Their primary concern is the growth, not cost reduction. "
A trust that is found when talking about the second quarter. "The second quarter looks good. The year 2011 will be for its good or very good, "said President of Publicis. We outperform the market in 2011. Obviously, the soaring price of raw materials encourages companies to protect their margins.It may therefore be a risk cutoff of investment from advertisers. But the future is growth. "
Future and it is precisely at Publicis issue, that of Maurice Levy, whose mandate expires Dec. 31, 2011 will be extended. But the president still has not set a date or given any indication as to his successor. "My priority is Publicis. I will remain the necessary time. "
A new blow to L'Oreal after the trauma of the case Bettencourt. Lindsay Owen-Jones, former chairman and honorary chairman of the group, is the subject of three complaints filed Friday at the financial hub of Paris, shows 20minutes.
Just replaced, there are a few weeks, by Jean-Paul Agon, Owen-Jones is accused of "abuse of trust", "abuse of corporate assets" and "active corruption" and "laundering money ".
The events occurred in the late 1990s. "OJ" is suspected of having set up as part of brand development in Eastern Europe, a parallel distribution market in Russia, Ukraine and Belarus.
It is a distributor Slovenian Janez Mercun, signed a contract with L'Oreal granting him the exclusive right to sell cosmetics in Russia, which is the source of the complaint.The latter had been injured by the formation of this parallel network to the tune of 34 million.
Alleged links with organized crime
According to the complaint filed Friday, "many companies put in place were designed to conceal tax evasion (…) and especially the personal enrichment, including Mr. Owen-Jones," says 20 minutes. "To get there, Lindsay Owen Jones has even forged links with organized crime," adds the lawyer Janez Mercun.
This claim taints the course of the boss of iconic L'Oreal, which has twenty-three long years, year after year offer a remarkable growth in a number of cosmetics. In 2010 again, L'Oréal was able to announce a strong rebound in its results and felt "confident" for 2011.But contracts with Francois-Marie Bannier, and $ 100 million offered to "OJ" by Liliane Bettencourt, had already contributed to tarnishing the reputation of Columbia.
Two other former executives from L'Oréal, Gilles Weil and Gerard Guyot-Jeannin, are subject to the same charges. Bad news also for L'Oreal, and especially for its new CEO, Jean-Paul Agon, who had emphasized during his enthronement, the "transparency" of the group.
L'Oreal alleges facts already considered old and
L'Oréal was quick to be indignant. "The alleged revelations so far are related to an old trade dispute which dates from 1998 and has already been tried," indicated the direction of the communication group. But "the courts have sided with L'Oreal five times.The final decision of the Supreme Court goes back to 2003, "the company said.
"These unfounded accusations and publicized today, as yesterday every step of the procedure, designed to artificially try to reactivate the file closed since 2003."
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LE FIGARO – What are the economic consequences for Japan?
Jean-Pierre Petit – Contrary to what we believed in the early hours of the earthquake, the impact is probably greater than that of Kobe in 1995, which cost 10,000 billion yen, or 2.5% of GDP. The affected area this time, north-east, weighs 8% of GDP against 4% for Japanese Kobe, and it includes many production units and automotive electronics. But the most serious is the risk that nuclear has a direct impact on energy resources, since the nuclear provides 25% of national electricity consumption.This is the novel aspect of this tragedy is still not able consequences even if they tend to be exaggerated by the markets.
Could there be a rapid rebound in the economy?
It's terrible to say but disasters still have a stimulating effect in the short / medium term impact on the economy when the state starts rebuilding. Japan's GDP rose by 5% annualized rate during the three quarters that followed the disaster in Kobe. Provided that the nuclear situation eventually stabilized, it will be the same this time all the opposition has indicated it would follow the government's economic stimulus projects.In absolute terms, Japan has a debt problem, which represents 200% of its GDP, but this does not prevent him from borrowing in good condition because 95% of this debt is held by the Japanese no fax cash advances.
What are the consequences for the global economy?
A Japanese recession would not have much impact on the global economy. At its peak in the early 1990s, Japan accounted for 18% of global GDP in current dollars. Today, it represents only 9%. Japan – with U.S. – the least open of the major developed countries, it acts early in the production chain and there is a net exporter. A slowdown in its economy weighs little on final demand and global activity.Viewed differently, global growth amounted to 3.6% since 2000 and Japan is almost no contribution!
The succession of disasters threat does not resume?
The paradox is that the number of natural disasters is rising trend since the early 1950s, as they have been multiplied by 20 in fifty years, before breaking a bit since the early 2000s. At the same time, the average unit cost of natural disasters has remained stable, amounting to $ 240 million on average between 1950 and 2010. For the total cost of natural disasters (including the growing number), it has increased, but at a pace close to that of U.S. GDP (6% per year).In other words, the cost of disasters relative to GDP is stable world since 1900: the events are more frequent but the risks better managed and the impact remains low overall.
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Hackers are on all fronts. After the stock exchanges of New York and London in particular, hackers managed to penetrate the security of the French Ministry of Economy and Finance, revealed on Monday the website of Paris Match. Information confirmed by Budget Minister Baroin the microphone of Europe 1, and the entourage of the Minister of Economy Christine Lagarde told Reuters. The interview on Europe 1 Baroin:
Bercy services have found this huge cyber attack, which aimed in particular documents relating to the G20 in the month of December. "Immediately, specialty services have made arrangements to stop the attacks (…) This work was finally ended last weekend," said the minister's entourage.
"The first attack against the state of this magnitude"
According Pailloux Patrick, the executive director of the National Security Information Systems (ANSSI), "those who acted are professionals committed and organized. This is the first attack against the French state and of this magnitude at this scale, "he said in Paris Match.
In total, over 150 computers in the department have been infiltrated by the classical method of mail bomb. "The hackers tried to attack other ministries. There may be things that we have not seen, but to my knowledge, only Bercy has been affected, "explained Patrick Pailloux. Prescient, he lamented in an interview published Pcinpact late February, "a real trend to the increasing attacks, raising fears that the examples multiply."
No computers affected did not contain personal data of taxpayers, assured Baroin. "The attack targeted international issues rather than internal issues such as customs or tax authorities. Information has certainly been achieved, but what is important is that we know the origin and we define the modalities of this attack, "he judged. For now, Bercy filed a complaint against X with the Paris prosecutor's office and the DCRI, the French intelligence service, was seized.
Chinese Track
Even if the origin of the attack has not yet been established, a senior official recalls the site of the weekly Chinese track possible. "We found that a number of information were redirected to sites in China," Paris Match reported quoting a senior official, under cover of anonymity."But that does not mean much," he tempered. For its part, Baroin merely to evoke "the tracks have not yet confirmed."
Coincidentally, early in the morning, a member of South Korea confirmed that Chinese hackers had accessed in June to military records confidential from South Korea, for the purchase of unmanned U.S. spy planes. According to another member of South Korea based on a government report, 8183 of 21,899 attempted attacks launched last year by hackers against the computer system of government of South Korea came from China.
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The Apple boss has booked a nice surprise to his fans. When he was announced to be on sick leave for six months, and rumors that the dying announced, Steve Jobs is onstage drama of San Francisco (California, western United States). Acclaimed, he then introduced the second version of the iPad tablet computer. The tablet computer keeps the same price, between 499 and 829 dollars (between 359 and 597 euros) depending on version. The iPad will be sold to two metastable United from 11 March and 26 other countries, including France, Canada, Germany, Switzerland, Belgium and Japan, from March 25 business card design.
Despite his illness, Steve Jobs, who appeared thin, has not lost his sense of humor and vitality. "Almost 15 million iPads sold in nine months in 2010. It's more than any tablet PCs ever sold, "he quips."It's been quite some time that we worked on it and I did not want to miss a great day," said Steve Jobs. He still survived pancreatic cancer in 2004 and a liver transplant in 2009.
Steve Jobs introduced the second version of the iPad.
Zodiac? We never imagined a hostile transaction. A party Zodiac shareholders were not interested in our offer of alliance. We have turned the corner, "said Jean-Paul this Thursday Herteman, Safran, during the presentation of results 2010. The engine manufacturer is also active in the defense and security, has made a "good" performance last year's operating income increased 20% to 878 million euros and net income (group share) of 29% to 508 million euros from a turnover of 10.7 billion (+3%). Of debt, Safran found some leeway to make acquisitions "targeted".
But the attempt at rapprochement with Zodiac, equipment specialist, has failed."The story is perhaps not over," says Jean-Paul Herteman for the transaction retains its particular interest, especially in terms of synergies in electricity generation. His mastery is key in the great coming technological revolution in the manufacture of aircraft of the future, much quieter and more fuel efficient.
To play leading roles, Saffron seeking a partner or ally payday loan. "We are missing a few bricks in spite of our technological leadership positions on the engines and boxes, wiring, power electronics or electrical equipment of the most advanced programs, such as electric brakes for the Boeing B787, President Safran said. The group already supplies the engine of the C 919 Chinese, future rival of the A320 and B737, announced Thursday the creation of a joint venture with Comac, the builder, in the wiring.The C-919 as the Airbus A320 NEO (remotorized) will feature the Leap-X engine offering reduced fuel consumption by 15% compared with conventional devices. These aircraft will provide the transition until the new disruptive technologies are ready in 2025-2030.
To prepare for this "electric aircraft," Safran also has its own strengths. He launched the plan which provides Amp several hundred million equity investment in five to seven years ahead in technology for power generation.
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