Edouard Balladur. – Efforts by the Franco-German cooperation is commendable, but it must go further. The Europe of 27 is too broad and diverse, it is little more than a big market for the euro area, it has a single currency, but it is struggling to make quick decisions and does not have a policy exchange decided by a governmental authority. For twenty years, I defend an organization of Europe by combining circles States according to the skills shared. It is urgent to implement and begin to better organize the euro area.If the ECB was implementing this massive deterrence, speculation would fall and we would cease to move from crisis to crisis paydayloan.

The Germans did not they always raised an objection of inadmissibility outright the idea?

Do they have a reasonable expectation of it together without the 2 trillion dollars that would discourage speculation? Why is opposed to the expanded role of the ECB? The fear of inflation? The risk is much less in a world of globalization based on a competition that lowers prices.

Some defend the "other policy" and openly talk about protectionism. This crisis gives them she right?

On the contrary, it gives them wrong. History has decided: to maintain our role in the world, defend the ability of our business, secure our energy, we need to reduce deficits.

Stop Flamanville, it would stop dead "every effort of the industrial fabric, with over 170 suppliers in France and around the world work for this project," argued Thursday on site Machenaud Hervé, director of production and engineering of EDF.Its CEO, Henri Proglio, went further Thursday in Le Parisien, amounting to 400,000 direct and indirect jobs, and even 1 million taking into account the energy-intensive industries and promoted by the current low prices in France, the issue of a shutdown of nuclear power in France online cash advance. A "red flag" which has also incurred the wrath of the Greens.

Proudly displayed

For the sector, the challenge is to convince both safety and economic feasibility of the EPR. "We are building a completely safe reactor, which not only incorporates the feedback from the entire fleet (58 to 19 power reactors) but also has the amenities that were lacking in Fukushima," says Hervé Machenaud. It specifically targets the "ashtray"-installation capable of recovering the heart of the fusion reactor in case of puncture of the tank-and four buildings housing the safety relief devices.

EDF did not directly hacked the hard drive of Yannick Jadot, director of Greenpeace campaign. The company had used a business intelligence company, Kargus Consultants, headed by Thierry Lohro. Which had sought a self-taught hacker of his knowledge, Alain Quiros. The attacker was not enough stealth since he left traces on the computer of another victim allowed the court to go back to the folder Greenpeace.

Thierry Lohro is a former agent of the DGSE. Alain Quiros occasionally worked for the Atlantic Intelligence Company, founded by the former head of the GIGN Philippe Legorjus. EDF side, Pascal Durieux against a former admiral and his assistant Pierre-Paul Francis was a police officer.

Appropriate forum for Greenpeace

Facing the judge Thomas Cassuto, the two leaders EDF – removed from office in April 2009 – have denied knowledge of the illegal means used to gather information on Greenpeace. As for the CD-ROM found in the safe of Pierre-Paul Francois at EDF 1420 containing pirated files on the computer of Yannick Jadot, MM. François Durieux, and would not have bothered to watch the content according to their testimony. Pierre-François Paul does not deny having been presented to the hacker by Thierry Lohro Quiros in a cafe near the Military Club a few months before piracy.In addition, EDF has established two contracts with Kargus Consultants, a first in 2004 in the amount of 10,000 euros per month, the second in November 2006 providing for a fee of EUR 4,664 cash advances pay day loan.40 per month for one year. Police, Thierry Lohro said the contract was payment for subsequent operation of piracy.

Yannick Jadot, target of piracy, became MEP and spokesperson Eva Joly, the Green candidate for president: the trial offers a timely media platform to Greenpeace. And the opportunity to prove nothing less than "nuclear power is incompatible with the rules of French democracy." The organization claims 8.3 million euros in damages to EDF. For his part, counsel for the energy giant, Alex Gublin, raise, according to AFP, a priority issue of constitutionality (QPC) for a retroactive application of the law.The discretion of the President of the 15th Criminal Chamber, Isabelle Prevost-Desprez, the trial could be returned, or take place over ten days of the hearing.

Of doping in cycling hacking

The investigation that led to the indictment of EDF to a computer hacking Greenpeace's original appearance in a case removed: doping the American cyclist Floyd Landis, winner – decommissioned – the Tour de France 2006. On 14 September 2006, the department's National Laboratory for Doping Detection (LNDD) of Chatenay-Malabry discovers an intrusion on one of its computers. The police investigation following the complaint of the laboratory establishes a chain of links – which passes by the renowned Pinkerton Detective Agency U.S. – between Arnie Baker, coach of the cyclist, and a certain Alain Quiros, hacker to its hours.Surrounding the yellow jersey doped sought to discredit the LNDD to strengthen his defense. Computer equipment seized from Alain Quiros, exiled in Morocco since the fall of 2006, will the investigators on the trail of other victims of the hacker. Among them, the association of small shareholders of Vivendi and Yannick Jadot, campaign director of Greenpeace.

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Based on the results of such surveys of the American Institute Gallup, the researchers sifted through the levels of well-being of 54 countries by comparing them with the "escalation" of their respective tax systems.It appears that countries with happiness displayed by the people is the highest (led the quintet Denmark, Finland, Switzerland, Belgium, and Australia in that order) are those whose levels of taxation do matter the most high vis-à-vis the highest incomes. Note that France, whose maximum tax rate fell from 48.1% to 41% over the period 2003-2010 according to a KPMG survey of the institute, for its part, is ranked the twelfth largest in terms of " happiness "overall.

Public services better

But because of the difficulty of measuring this "joie de vivre", which does not depend exclusively on the level of wealth of a population, these results are to be taken lightly.And the United States, the richest country in the world and has a maximum tax rate of 35% in 2010 to eighth carracolent barometer of well-being of Gallup, far ahead of France.

Still, according Shigehiro Oishi, the correlation between a higher tax on high incomes and "joie de vivre" is mainly due to better quality public services in the countries concerned. He cites all government expenditures for "housing, education and public transport."

Under this prism, so some argue that the will of Barack Obama to tax more millionaires will have no impact on the happiness of Americans, as this is seen against a plan to reduce the budget deficit. But gentle irony, at least one of its taxpayers would certainly his "joie de vivre 'progress: the billionaire Warren Buffett.In an article published last month in The New York Times, the head of Berkshire Hathaway investment fund argued for such a measure: "While the poorer classes and middle classes are fighting for us in Afghanistan, while most Americans are struggling to make ends meet month we mega-wealthy continue to benefit from special tax exemptions, "he complained. Not sure, however, that the unanimity of implementation within the cocoon of "mega-rich"!

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The Financial Times for its part indicated that Lou Jiwei, the chairman of China Investment Corp (CIC), accompanied by a delegation, arrived in Rome last week to meet with Finance Minister Giulio Tremonti, and officials the Cassa despositi e Prestiti.

In any case, the information had an immediate impact on equity markets and bonds. The news triggered a rapid rise of U.S. indexes, which ended the session up when they were, like all European markets, a sharp decline shortly before the information.L all the indices of world is indeed suspended at the least information related to the status of sovereign debt in the euro area. In fact, the fear of contagion shook the Greek market.

In addition, the bond market has also relaxed.Good news for countries forced to place their debt securities, especially Italy. Interest rates have soared Monday in an issuance of public debt in Italy. Rome has indeed placed a total of 11.5 billion euros of shares, including 7.5 billion of bonds a year at a rate of 4.153% against 2.959% in the previous similar exercise conducted on August 10.

"Who owns the Debts

"Germany is losing patience with Greece

"Wall Street Weathering the Storm

The Frankfurt Stock Exchange also closed up sharply Monday after meeting exceeded the 3%: the DAX index of thirty blue chips gained 2.39% to 5670.07 points, also carried by the speech of Friday Federal Reserve Chairman Ben Bernanke, who was reassuring on growth.

Friday, after a negative early trading, Wall Street has indeed ended the session on gains of 1.2% for the Dow and the Nasdaq 2.5%, investors focusing on positive ads during the next meeting Federal Reserve in September, Ben Bernanke hinted at the conference of Jackson Hole.The anticipation of a further intervention by the Fed puts the dollar under pressure against a basket of currencies: the dollar is trading at 1.4507 dollar per euro to 17 hours. On Monday, the U.S. indices still show green, reinforced by the recovery in consumption of U.S. households in July.

And always in the context of the general economic meeting in Jackson Hole's new Executive Director of the IMF, Christine Lagarde, has urged this weekend to recapitalize banks. She said that the European institutions "need of urgent recapitalization." The former Minister of Economy and Finance believes that these measures are the "key to cut the chain of contagion." So new fears for the banking industry, already largely weakened during the summer.

Pending on the details of the background of aid to Greece In Greece, aid modalities are not yet fastened.Negotiations were slowed by the requirements of Finland and the new challenges of Athens, whose stock rebounded strongly on Monday, however, and accounted for up to 9% increase on mid-term, on the bottom of the side of mergers expected Greek banks, in the early afternoon.

In addition, investors seemed to adhere to about Laurence Parisot. And referring to the financial crisis, the president of the employers' association (MEDEF) estimates for its part, that "if Europe were attacked, not because it is weak but because it is strong, and if it is envied, because it is enviable, "In an interview with Le Figaro, the boss of the bosses denounced a U.S. plot against the euro area.

Irene reduced cost

Other news of the weekend: the passage of Hurricane Irene passed through New York without drama. He also was demoted to a tropical depression.U.S. markets should open smoothly and Monday. Hurricane Irene would have between 500 million and one billion dollars in damage in the Caribbean and the United States, according to catastrophe modeling firm EQECAT. A figure below the most pessimistic forecasts considered before the hurricane.

The price of Brent was down, refineries and oil terminals on the East Coast of the United States seem not to have suffered major damage, easing fears of a supply disruption. In addition, Libya resumes oil exports within a month, according to the spokesman of the Arabian Gulf Oil Company (Agoco), controlled by the rebels. Crude oil production will resume in mid-September on two deposits in the country.A barrel of "light sweet crude" for delivery in October takes the field, to 85.46 dollars per barrel of Brent North Sea crude for October delivery stabilizes at 110 make quick cash.8 dollars.

Among the statistics expected Monday in Wall Street, the surprise came from consumer spending. The Americans have in fact spent more than expected in July. Up 0.8% on month, consumer spending across the Atlantic more than 0.3 percentage points the level expected by analysts. The promise of home sales have, they, down 1.3% in July compared to June, as the market expected, according to figures released by the National Association of Realtors. They increased by 2.4% in JuneOver one year are up 14.4%.

The bank bounce despite the warning Lagarde

As for values, on the eve of the biannual publication of trucks from the coast (Bo uygues, Carrefour, L'Oreal, Vinci …) at the end, only two cuts were regrettable among the 40 largest capitalization on Paris: the Danone (-0.35% to 45.57 euros) and Essilor (-0.68% to 52.61 euros).

In addition, about Christine Lagarde did not prevent banking stocks to rebound.A technical rebound is sustainable, while the sector was the most attacked in recent weeks: Société Générale (3.61% to 22.10%), Natixis (3.72% to 2.78 euros) Crédit Agricole (3.37% to 6.63 euros) and Axa (2.30% to 10.47 euros) and BNP Paribas up the rear with a more moderate increase (2.49 % to 34.39 euros).

In addition, Ingenico (2.49% to 27.55 euros) announced that it had repurchased TNET, an Italian company specializing in payment terminals, for an amount that was not disclosed. According to Ingenico, TNET manages an installed base of 45,000 terminals in Italy.

APRR (0.13% to 52.32 euros) will observe the re-opening until September 9 of the OPR launched by Eiffage (2.22% to 31.36 euros) and Macquarie.The toll road was also noted Friday that the evolution of traffic early in the second half was mixed for light vehicles, but remained well oriented for heavy vehicles.

Capgemini (3.96% to 27.95 euros) announced it has signed a five-year contract with the company's payment service EnterCard Scandinavian. The group of consulting and information services will pocket 30 million euros as part of this agreement.

In addition, ING has lowered its board to maintain, against purchase, the title Arkema (1.39% to 50.62 euros) and reduced its price target on the value to 55 euros (as against 85 euros).

Channel (1.29% to 4.406 euros) could push his plans for the IPO. While the ACC has lost nearly 20% of its value during the summer, analysts are skeptical of an imminent public offerings of media group, reports Les Echos.The listing of the 20% held by Lagardère has already been de-programmed, it could eventually sell its stake in Vivendi, the majority shareholder.

For its part Orange (France Telecom 2.08%, to 13.01 euros) would be in conflict with the American Cogent. The U.S. operator has, according to La Tribune, filed a complaint against his French counterpart to the competition authority for "abuse of dominant position." Orange is accused of preventing users from accessing the site MegaUpload. The conflict dates back to January so that Orange had decided to grant the account drop traffic from Cogent.

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Especially the Europeans intend to set up an assistance program to enable Greece to avoid a default in the longer term. This time, the private sector should be involved."The ministers agreed that the additional funding required will be financed both by official and private sources," assured the European central bankers. The ministers also began to speak with one voice on such terms as this will help: they have indeed "welcomed the goal of voluntary involvement of the private sector in the form of roll-overs informal and voluntary debt Greek existing mature. " In other words, the creditors will agree to replace loans maturing by others of the same amount.

Jean-Claude Juncker, a leading finance ministers of the euro zone, said Monday he has "decided to convene a special meeting of the Eurogroup on July 3" to complete the program of aid to Greece.He also announced that members of the euro area agreed on the creation of a permanent fund for the euro area. It will have 500 million euros that will be lending to countries in the area who find themselves in difficulty.

The assistance could reach hundreds of billions of euros

So far the ministers were divided on the issue of assisting in Athens: Germany favored the idea of ​​longer maturities on debt, where Paris defended the option of "rollover" . "We agreed on the voluntary involvement of the private sector while there is a week or two options on the table," welcomed Jean-Claude Juncker.The most important thing is to convince investors that it is not part of a default of payment, liable to cause market panic and contagion to other countries in the euro area.

The amount of this aid has not been determined. Ministers have simply stated that this operation should be a contribution "substantial" in the Greek program "and avoid a default (of payment) selective" in the country. Some point to have a total of a hundred billion.

If the main principles of this new aid were recorded, details of the plan remain to be defined. The "main parameters of a new funding strategy clear" should be defined "by early July", say the ministers.The initial ambition of the ministers were, however, to "discuss the participation of private creditors," stated Jean-Claude Juncker, adding "the question is how far it can and must go."

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Strongly contested by the opposition and discussed in the majority, sending checks every year to the wealthiest taxpayers had come to interfere with government. In 2010, a total of 678 million euros that the state has returned to the beneficiaries of this measure, a figure slightly higher than in 2009 (EUR 586 million). Especially, like last year, is only a small fraction of some 592,000 taxpayers subject to the ISF who earned the largest amounts recovered.If the amount of average check totaled 40,908 euros, the richest 7% received 60% of the amount paid, or 381,000 euros on average.

To the dismay of Socialist deputies, the government's plan, however, does not remove the tax shield that from 2012 on taxes paid on income in 2011. According to the deputy PS Jerome Cahuzac, the measure should thus continue to cost the public finances 550 million Euros in 2012 and 200 million in 2013.

Relief ISF

The elimination of this symbolic mandate Nicolas Sarkozy also fits into the context of a broader reform of the taxation of wealth, the members approved each measure in recent days. To parliamentarians, the Minister of Budget, Baroin, endeavored to describe the philosophy of combining text as "social justice" (the end of the tax shield) and "tax justice" (relief ISF)."The government is a simple reform, fair and balanced" has said repeatedly this week Baroin.

On Friday, the parliamentarians approved a reform of the solidarity tax on wealth (ISF), which raises € 800,000 to 1.3 million euros threshold of assets at which a taxpayer is taxable to the ISF. Approximately 300,000 people should therefore be exempt from this tax next year. The current rate also eased: below three million, the tax rate increased from 0.55% to 0.25% when it is lowered to 0.5% instead of 1.8 % above. Overall, 250,000 taxpayers should therefore pay less. This reform will result in a revenue decline of 1.8 billion euros.

A shortfall that is projected by the government, be offset by the elimination of the tax shield, the higher taxes on gifts and estates, and the new tax on second homes of strangers, sitting on their rental value. In total, the projected deficit for 2011 however, increases of 596 million euros, 460 million due to payments associated with the Taiwan frigates affair. Remain a little over 130 million bridge to return to the original projected deficit. Baroin promised by the end of the year new savings measures to achieve this.

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In addition, investor optimism is reinforced by the continuing problems of sovereign debt in Europe.Today Greece and the "troika" will unveil details of an upcoming fiscal tightening.

Finally, operators are troubled by bad macroeconomic indicators in the U.S. which suggest that the recovery is still difficult for the world's largest economy. Yesterday, the bad news is still chained to the front of the productivity, prevents Wall Street rebound. This morning the Asian market was also very mixed. This especially since the rating agency Moody's has threatened Thursday to put the debt rating of long-term United States, currently at AAA, on negative watch.

The service sector slows in Europe

Finally, the wait dominates before the publication of several important statistics.In France, growth in services sector activity slowed slightly in May but remains close to the peak of nearly 11 years hit the previous month, final results showed on Friday of the monthly survey from the Markit Purchasing Managers . PMI Segment income $ 62.5 after hitting 62.9 in April, its highest level since September 2000. An initial flash estimate of 62.8 gave the May 23

This same index slowed sharply in Germany last month to 56.1, its lowest level since October against a flash estimate of 54.9 and a figure of 56.8 in April.

Then the United States, the appointment of the day will be the publication of the monthly report on employment from the Labor Department low rates payday advance. Then comes the ISM services.

As for currencies, the euro, which climbed to over $ 1.45 yesterday, continues its recovery. It traded at 1.4482 dollars this morning.Oil prices were also rising in electronic trading in Asia, due to the decline of the dollar, prompting investors to buy commodities. In morning trading, a barrel of light sweet crude for July delivery gained 20 cents to 100.60 dollars. That of Brent North Sea crude for delivery same took 24 cents to 115.78 dollars.

Values ​​to follow

The banking industry is again monitored while the budget plan for Greece and the "troika" will be unveiled. BNP Paribas (+0.78% at 52.82 euros), Societe Generale (0.57% to 40.43 euros), Credit Agricole (+0.48% to 10.40 euros) move.

TF1: -0.32% to 12.39 euros

Media rights to Roland Garros on Europe, formerly held by Eurosport (TF1), will change the diffuser to be allocated to the agency MP & Silva from 2012.

Vivendi: -0.18% to 18.91 euros

SFR announce next week an overhaul of its mobile offerings and partnership with the broadcast site Spotify music on the internet, writes La Tribune. The telecom operator will hold a press conference Tuesday, June 7

Thales: 2.54% to 29.68 euros, Safran: 1.89% to 28.30 euros

Discussions between the two groups regarding an exchange of assets will be using a mediator, Aldo Cardoso, former head of Andersen's consulting firm, said Friday the newspaper Les Echos.

Renault: 0.70 to 38.16 EUR

The manufacturer believes that the shortage of diesel that has weighed on its registrations in the month of May in France will be eliminated in the second half, especially against the backdrop of the expected slowdown of the market, told The Tribune on Commerce Director of the French subsidiary.

Monday in Brussels, twelve months after betting that Greece would be in 2012 on the markets to finance its deficits, the countries of the euro went to the inevitable: the appointment is missed, the Papandreou government will need aid of fifty billion by 2013 in addition to 110 billion made a year ago, and the question is, nagging about the ability of Athens to one day repay her debts.

What the German liberals of the FDP already denounced as a "bottomless pit" is primarily a political problem for Angela Merkel.Since the beginning of the crisis of sovereign debt, German politicians proved less willing than others to raise money for the taxpayer at any price stability in the euro area.

To divert a debate as to poison repetitive, Germany now proposes to extend the repayment schedule in Athens. In consideration of a new fiscal tightening, would be the way to relieve the cash Greece and reduce all credits claimed on the rest of the eurozone.

78 billion euros to save Portugal

Wolfgang Schäuble, the Minister of Finance since Sunday added a condition sine qua non: "All credits will be rescheduled as well, that is to say, both those made by private banks as those granted by the various bailout fund set up by the EU and the seventeen countries of the euro.

The scenario is dictated by the desire to Berlin not to suggest to voters that he pays only instead of banks. He received on Monday, supported by Austria and Luxembourg. But it gives a cold sweat in the financial community and the European Central Bank (ECB). For many it is the first step towards a "restructuring" of Greek loans: in other words, debt forgiveness as an extension of time, lower interest rates, reduced principal or a cocktail of three .France and its banks heavily engaged in Athens, are against "all forms", repeats Christine Lagarde.

Shortly before the Eurogroup meeting on Monday night, the Barroso Commission has begun to cut corners. A restructuring would present "devastating consequences" for public and private creditors and Greece would be better advised to look for new resources in the accelerated implementation of its privatization plan. But "arrangements are always possible," said spokesman Amadeu Alfataj.Divided on the Greek case, the Europeans are, however, were more divided over the issue Portuguese EU finance ministers gave the go-ahead for a bailout plan for Portugal, which provides 78 billion euros in loans to joint the IMF in exchange for austerity.

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