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Against "unfair and ineffective sacrifices, Greek officials Wednesday manifested in big cities. A 24-hour strike was launched by the Union Public Service ADEDY, with more than 300,000 members. Employees of public protest against wage cuts announced by the Socialist government to reduce deficits and thus reassure the markets.

Tuesday, Finance Minister George Papaconstantinou reiterated wage austerity measures provided for in the Public Service wage freeze, down 10% premium, 30% decrease in overtime, stoppage of recruitment in 2010, except in the sectors of health, education and security. Labor Minister, Andreas Loverdos, proposed back two years to 2015 the average age of retirement to raise it to 63 years.

In Athens, about 5,000 union members protesting in the rain in the streets, which must be added the separate gathering of 5,000 activists of the union Struggle Front (PAME), an offshoot of the ultra-orthodox communist party (KKE). In Salonika, is counting down nearly 3,000 officers pounding the pavement.

Moreover, tens of thousands of officials have answered the call to strike the ADEDY. Air traffic controllers joined the strike and there was no traffic Wednesday in Greece.

Meeting of Finance Ministers of the euro area

These events occur when the finance ministers of the eurozone plan to meet as Wednesday by teleconference to discuss the situation in Greece, several diplomatic sources.In view of this meeting, Nicolas Sarkozy held talks by telephone with German Chancellor Angela Merkel and EU President Herman Van Rompoy.

According to Le Monde, President of the European Central Bank, Jean-Claude Trichet and the chairman of the Eurogroup forum of finance ministers from the eurozone, Jean-Claude Juncker, will join the discussions.

This meeting will be held on the eve of a summit of EU leaders on the issue in Brussels saving account payday loan . At this stage, there is "not agree" on a plan of aid to Greece. The signs, however, a support mechanism for this country is growing. A senior parliamentary Conservative German Chancellor Angela Merkel, Michael Meister, has indicated that preparations were underway in the German Government for an assistance plan.It could take the form of housing provision of bilateral loans to certain countries of the euro area in favor of Greece, to help cope with higher prices for its cost of borrowing on the markets since the beginning of the crisis. The option of an advance payment of EU subsidies to Greece is also considered.

Papandreou lunch with Nicolas Sarkozy

Prime Minister George Papandreou, who visited on Wednesday in Paris where he had lunch with French President Nicolas Sarkozy has reaffirmed his determination.He promised Wednesday to "take all necessary measures" to reduce the deficit and ensured that "each of the measures of the austerity program will be applied.

The Prime Minister had called in an attempt to limit the impact of the strike, officials to "lead by example" to help end the crisis.

Furthermore, President Nicolas Sarkozy and Chancellor Angela Merkel Thursday held a joint press conference after the informal EU summit in Brussels, including the situation in Greece, said Wednesday the spokesman for the French government, Luc Chatel. "Under the EU summit, the president will have the opportunity to hold a joint press conference with Merkel on various subjects.I guess the question (of the situation in Greece) will be addressed, "said Luc Chatel in reporting to the press the work of the council of ministers.

"The French government is involved as its European partners on the situation of the euro and the situation in Greece in particular," he said, adding that the Economy Minister Christine Lagarde had "routine contacts with counterparts "on this issue.

Warren Buffet has spoken. The American billionaire was strongly opposed to the will of Kraft Foods to issue 370 million shares to acquire Cadbury. Holding 9.4% stake in Kraft Foods, he says leading shareholder of U.S. food group. In a statement, holding the "Oracle of Omaha 'believes that this offer is a" blank check "for Kraft, which could, if necessary, modify its bid, thus harming shareholders. "What we are sure is that the current price of Kraft shares to $ 27 is a" money "too expensive for an acquisition," said the statement.

Kraft has announced its final bid for Cadbury by 19 January. "If we conclude that the offer does not destroy value for Kraft shareholders, we will vote" yes ".For now, we believe that no shareholder should do (vote "yes"), so it is not clear why he voted "he concludes.

At the opening on Wall Street Tuesday, Kraft Foods was up 2.99% to 28.25 euros. The Dow Jones lost 0.31% to 10,551.61 points.

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It took six days to break his silence. And yet the world was waiting he speaks. The Awards were panicking. The warning is part late November, when Dubai announced that its conglomerate Dubai World, is struggling to repay 59 billion in debt. As negotiations with creditors ahead delicate, Sheikh Mohammed has given an appointment on 1 December, journalists at the entrance of Dubai Media City, the neighborhood where settled CNN, AFP and al-chain Jazeera. Under the sun, disdasha white sunglasses and beard neatly trimmed, he stopped two minutes before the cameras. In fact interview, he let out a pithy phrase: "Dubai's economy is strong." He also regretted "the lack of international investors" before philosophizing on "Fruit Trees always attacked by those who throw stones.The allusion, acerbic, was aimed at Western media he despises. Then he climbed into his 4 × 4 white. Scholarships and fell again.

"His Highness is very determined"

This attitude, princely or haughty as the interpretation is actually not worth that friends at HRH. "He laughs at the criticism even if they hurt his pride," says one of its brokers. At age 60, Sheik Mo has shown the other Gulf monarchies it is not just the oil life. So Abu Dhabi prides itself on culture and joined the Louvre. The Sultanate of Oman has made ecology by building on its magnificent scenery. As for Qatar, it develops its universities.

Sheikh Mo himself, runs Dubai like a business. If an order, it must be executed finger on the seam of his trousers."His Highness is very determined, confided the CEO of Emirates airline, Sheikh Ahmed, the magazine Vanity Fair in 2006. To follow, he must recharge his batteries at 100% and give everything. "This has enabled the micro-state to jump two centuries, between 1990 and 2009. But when crunch time, he must reassure communicate, the man is rare.

Born in 1949, Muhammad is the heir of the Maktoum dynasty. Bedouin who have settled in Dubai in 1833. In this small port that saw trade and smuggling, child's little prince is so spartan. Running water, phone, electricity, roads do not exist. At nightfall, on the creek, we lit the oil lamp. "We played ball on the dirt floor, we did not travel and we had no government," Sheikh Ahmed confided to Le Figaro in 2003. Mohammed was 9 years old when his father, Sheikh Rashid, seized power.The oil discovered offshore in 1966 freed the royal family of the dependence of ancient Arab traders, Iranian and Indian.

Visionary Sheikh Rashid began the first stage of modernization of Dubai. In three decades, he transformed the inlet in a regional logistics and industry. In 1966, Mohammed was sent to Cambridge to learn English. In 1971, the British left the Arabian Peninsula. Abu Dhabi, which owns the majority of oil resources, and Dubai, plus the best location, create, with five mini-states, the federation of United Arab Emirates. At age 21, instead of continuing studies, Mohammed is powered defense minister. Despite the turmoil in the region, his country is developing slowly but surely.

The privacy of Sheikh Mo is as secret as eventful.Horseman, he created a stable of thoroughbreds Godolphin, who became the great rival that of the Aga Khan. Each fall, he is one of the best customers at Deauville. In winter, the horses are in the sun in Dubai. In April, they leave by plane for Europe. Except this year as the Godolphin stable has been accused of doping. Sheikh Mo also owns the largest yacht in the world. He publishes his poems on the Internet. Married several times, he would have 19 children – eight girls and eleven son – now aged between 2 and 27 years. His biography on his official site does not mention them. But many of those princes and princesses have a page on Facebook. Like all young surfers today, they have taken hundreds of photos for free access.In a few clicks, one discovers the Sheikh's private life: the inside of his jet, his palaces, his children, their holidays in Europe, stretching their albino tiger on leather couches, their hawks. In the family album, just missing the wives and mothers.

Cape Town Tourism

On October 7, 1990, the life of Mohammed switches. His father, Sheikh Rashid, died after a long illness. The eldest son, Maktoum, ascends the throne. Mohammed became crown prince. But it will always be regarded as the true boss of Dubai, well before the death of his brother in January 2006. Surrounded by bodyguards brilliant émiratiens commoners, he began the second stage of the transformation of Dubai. Cap on tourism, shopping, services and finance.With hundreds of thousands of workers forced laborers to thank you, he built skyscrapers, shopping malls and luxury hotels, including the famous Burj al-Arab, a 7 star hotel. Ski, giant aquariums, artificial islands, tallest tower in the world: everything must be extraordinary. Within a radius of 10 000 kilometers, Dubai is the only place where there are any consumer product, where women have no constraints imposed on Iran and Saudi Arabia.

Sheikh Mo, whose appearances are rare except in the photo on the property, has no ambition in international politics, but it pushes the girls to pursue careers and encourages entrepreneurs. "We are 1.5 billion Arabs which 50% are under 25 years. If we can save them by giving them meaningful employment, we will avoid to be extremists. "Strange speech, but little understood.Only the expansion of Dubai forced march draws attention. Speculators took power. And miscellaneous multiply: turning the car ram into a jewelry, demonstrations of "slave laborers" settling of accounts between the Russian mafia, rape of a young French … Sheikh Mo has also suffered heavily from the anti – Arab Congress in Washington opposed his bid for U.S. ports. According to Forbes, the fortune of the master of Dubai has shrunk from 28 to 16 billion dollars between 2008 and 2009.

All eyes are now turning to his son, Hamdan, 27 years. Nicknamed "CP" for Crown Prince, the military trained at Sandhurst in Britain has it in hand, the soul of a communicator. Familiar with Facebook, he put his videos on YouTube.The latest shows his impressive collection of cars, hundreds of cars, Ferrari, Rolls Royce, Porsche … Another clip presents declaiming, for five long minutes, a speech in Arabic on a thoroughbred in the desert or caressing lioness on a beach. His poems are "coo" of thousands of young women. Nice kid, he is Prince William of the Middle East.

Meanwhile, his father is negotiating with international bankers from whom he borrowed too. Next Monday, Sheikh Moh will have repaid a portion of its debt. One thing is certain: the economic model he developed for Dubai showed its flaws and shortcomings. His son did he understand? Does he realize that he must invent a new one?

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When prey is, UFC Que Choisir not let go. Just weeks after a complaint filed against the provider of Internet access (ISP) Free to improper billing of the hotline, the association of consumer advocacy attack again for collective redress "many and various unfair and unlawful" .

The UFC has assigned the Free interim High Court of Paris as part of an accelerated procedure. A decision motivated by complaints from several consumers who feel cheated by the rules of subscription and advertising provider. As the class action (editor's note: class actions in the courts) are impossible in France, is in his own name as the association claims 535,000 euros in damages.If Free is considered in the light of competition law, this amount could rise to 96 million, or 10% of the turnover of the company.

Unfair

Among the problems raised by clients and accepted by UFC, several relate to the conditions of sale. It is alleged the ISP to pre-check the option "Service Plus" in the subscription forms online so that this option costs EUR 9.99 per month. Worse, this addition does not appear in the sum total of the subscription rises to 39.98 euros per month and not 29.99 as stated. UFC has also criticized Free to impose a payment by debit to its subscribers. If they refuse, they are forced to pay a deposit of 400 euros to pay 4 euros per month extra.

And if the customer decides to cancel his subscription, it will take a period of one month instead of 10 days imposed by the Chatel Act. In addition, he must pay 96 euros less than 3 euros a month old. A change of address or request new equipment redo the note up to 96 euros automatically. "These practices are harmful. Free communicates on a price ceiling that is actually a floor price. Customers are direct victims, "indignant Catalina Chatellier, a lawyer specializing in new technologies at UFC Que Choisir.

Moreover, the association called for an end to the advertising campaign suggesting that provider with Free, the customer has all-inclusive. UFC said that in the € 29.99 that it cost to subscribe, like all other ISPs, calls to mobiles and special numbers are not included. Advertising can be misinterpreted.Similarly, the joint venture on so-called exclusive services actually are not as fast-Fi or parental control software.

"Most ISPs have policies effective sales and marketing as they come to pass in a few seconds a message of clarity and simplicity to consumers who actually is not," said Master Yann Lorang, Attorney at Law, Jakubowicz Mallet-Guy and Associates. "Today the drafting of terms of business of selling has become an art in that it must juggle the provisions protecting consumers while preserving the relationship of trust – and thus the imperative of return – between the operator and its customers, "said the lawyer.

Asked about the issue, Free declined to give his version."We do not comment on subpoenas in general and that it no longer," said a terse email from the Communications Department Iliad, the parent of Free.

History

Free is not his first assignment in the courts. Already in 2006, UFC Que Choisir had complained to protest the excessive taxation of calls to the hotline. In 2007, the ISP was forced to appeal a court decision sentencing him to repay three customers and remitted to the association 20 000 in damages for the same problem.

Last October, UFC Que Choisir was again to report a complaint hotline maintained an unfair price by 34 cents the minutes despite complaints. In November, the legal troubles continue with a historic decision of the Court of Cassation.This gave reason to a customer who complained Free to pay its entire supply Triplay (Internet, telephony and television) as he received no television. The court noted that the supplier is under an obligation of result when the services it offers. A decision should set a precedent.

Criticized for its lack of goodwill in the implementation of court decisions, Free found himself back on the wall. UFC Que Choisir hopes this time change its behavior. "They have everything to gain by giving a better image of themselves," says Catalina Chatellier.

More broadly, the decision to be taken following the hearing on March 9 should have a wider scope in the world of ISP. "Only the actions of this kind, not the individual claims mediators, can alter these contracts to more equality and fairness," said the lawyer Yann Lorang.

For Free, which should be awarded the fourth license at the end of the year, the new ads come in any involuntary case to a very bad time.

Friendly atmosphere in Berlin between Christine Lagarde and his German counterpart Finance, Wolfgang Schäuble, who met Monday for a preparatory meeting at the Brussels summit. Certainly, the French minister still can not correctly pronounce the name of his neighbor, but for the rest, they gave the image of a pair perfectly consistent.

"It is for us to strengthen the Franco-German base and we consult on the question of the stability pact. We have also given our views on oversight of the financial system, "said the minister, Wolfgang Schäuble before takes the floor:" I'll just translate what Ms Lagarde said earlier, "joked the former Minister of Interior of the previous government Merkel.

On the merits, the ministers argued over several issues.They first agreed to establish a "common agenda" on a range of topics (G20 finance …). They then discussed access to bank credit for SMEs. If both countries have said that there was no reason to fear a "credit crunch", they agreed to "proposals" together. To this end, France and Germany will "exchange of experts".

Public finances have also been at the heart of discussions on Monday. The replacement of the Social Democrat Peer Steinbrueck, highly appreciated by Christine Lagarde, told the good news: the country's deficit this year would be 10 billion less than expected.For Axel Weber, Bundesbank president and also present at the meeting with his French counterpart, Christian Noyer, it "could allow Germany to return in 2012 in the nails of the European stability pact."

"Semantic shift"

The France is also changing its official position on the thorny issue of public finances. There are a few more days, Prime Minister François Fillon and 2014 set the deadline back to a deficit below 3% of GDP, with an "effort to reduce more than 1% per year. On Monday, Christine Lagarde said she supported the goal of reducing the French deficit to 3% by 2013. One year before the date officially adopted by Paris so far."If the situation is bad, we can not achieve this goal, was still eager to clarify the French Minister.

It may be a "semantic shift" – dixit Bercy – compared to what was the prime minister, but the political signal sent to our European partners and the Commission is far from negligible. Last week, the Brussels executive had asked to return to France from 2013's deficit in the nails of the Stability Pact. She considered him already granted an extension from its requirements of spring, because of "the deteriorating economic situation."

Finally, the question of the Presidency of the Eurogroup, "we will discuss in the coming weeks," said Christine Lagarde.

After four quarters of decline (-9.3% a year since the second quarter 2008), the slight upward trend is confirmed by figures from INSEE based on those of Notaries from promises of sale signed in Q2 year. While some professional networks, which Laforet Immobilier Wednesday, talk of a recovery, the increase in prices is to be interpreted with great caution.

Indeed, over the past twelve months, property prices remain former fallen sharply, from about 8%, and the number of transactions continues to fall. From September 2008 to September 2009, 550,000 housing transactions have been recorded in metropolitan France, down 25% compared to transactions a year earlier.

Increase of 0.7% in Ile-de-France

During the third quarter of 2009, prices of existing homes rose by 0.7% in Ile-de-France, driven by rising house prices (+1.9%). In one year, the decline is 8.3%: -7.5% for apartments and -9.5% for houses. In Paris, apartment prices rose 1.4% (-7.2% yoy) and those houses by 5.8% (-8.7% yoy). In the provinces, INSEE noted an increase in the third quarter versus the second quarter, 0.1% (+0.6% for the apartment and -0.3% for houses). In one year, the price of existing homes in the province decreased by 7.9% (-6.9% for apartments and -8.5% for houses).

A slow recovery

Improving conditions of loans to individuals for several months have been felt in the housing market. For the economist Michael Mouillart, the market is overtaking its lowest point."The worst is behind us, but the recovery will be slow. The rise in unemployment will slow the pace of recovery, but will not compromise, "analysis" he added that during the year 2010, sales volume should reach the former levels of about 500,000 to 525,000, and prices rise by about 2% to 3%. Mathilde Lemoine, Director of Economic Studies of the HSBC bank, however, is more reserved, "in 2010, stagnant wages due to rising unemployment, rising prices rose in nine and stabilization loan rates should influence the solvency of households and hence on home sales. "

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Nothing very serious, but a real nervousness gripped the market on weekends. French values are clearly divided down for the fourth straight session and Wall Street began a real consolidation.

The publication of poor results by the computer manufacturer Dell, whose profits have halved in a year, has certainly cast a pall. Therefore, the decline was widespread in technology stocks in the whole document: Among the largest declines over the weekend, tech stocks, but also banks, real estate and many cyclical industries.

In fact, beyond these poor results, the market consolidates because investors are worried about the strength of the recovery, the deteriorating public finances and relapse indicators on housing states USA.Therefore, in the absence of fresh news can revive the dynamic market, investors have preferred to take profits. To top it off, President Obama held a relapse of the activity was not excluded if the recovery efforts were abandoned and the Japanese authorities have recognized that the country has fallen into recession, with falling prices for the seventh consecutive month.

After two years of crisis that we have known, investors have seen others, but should not the signs of depression are increasing, with an avalanche of bad economic data and disappointing results.The virtuous circle that has established a stock exchange, with expectations of gradual recovery in activity and improvement in profits needs to be supported, if the correction could increase.

For now, the indexes are still near the highest: more than 10,000 points for the Dow Jones, over 3,700 for the CAC 40. We must beware of making catastrophism, the scenario out of recession is good for equities, the key is to remember that the current consolidation is beneficial because it restores margin for operations to start rising.

While waiting to see clearer, gold opportunity to play its full role investment haven to more than $ 1,100 an ounce in London.

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China, Japan, Singapore, Taiwan, Thailand, all those Asian countries that depend on their exports, feared a return of protectionism, driven by rising unemployment in the world, is not undermined by the weak recovery that seems s 'start on both sides of the Pacific Ocean.

Meeting yesterday, and until Sunday evening in Singapore, the 21 forum member countries of APEC (Asia Pacific Economic Cooperation), which also ranks in the United States and Russia call to fight against this temptation with force.In contrast to increasing free trade that will stimulate economic recovery and create new jobs, they say.

The APEC forum, which is celebrating its twenty years, knows whereof he speaks: it accounts for respectively 40% of world population, 51% of GDP (gross domestic product) and 50% of international trade.

Recovery Plans

The exercise is more difficult than in countries that are recovering as fast as China (8% growth expected this year), the risk of overheating point and are "likely to trigger new asset bubbles and estate, "says Robert Zoellick, President of the World Bank.Indeed, Hong Kong and Beijing, apartment prices begin to flare, necessitating a very fine management of support plans launched by the Asian countries.

In total, they represent more than 1 000 billion (665.7 billion), including 585 billion for China alone. But no question of suspending them. "We will maintain our policy of economic recovery until a sustained recovery is assured," said the APEC forum, which emphasizes that the expected recovery "is not yet based on solid foundations."

For its part, South Korea, just to finalize its agreement to free trade with the United States.Washington accuses him not to open its automotive market and the day before the U.S. International Trade Commission had to deny Samsung Electronics to sell some of its products overseas because they pirated Japanese licenses.

Saturday and Sunday, the Heads of State of the APEC forum, which will meet in Singapore and will also consider the climate, will certainly a lot to do.

Euro Disney reported Thursday its results in its financial year end of September. The net loss after minority interests of Euro Disney appears to 55.5 million euros against a loss of 2.8 million a year ago. Revenues fell 7% to 1.23 billion. Despite a record attendance of 15.4 million people (against 15.3 million a year earlier) through new promotions, visitor expenditures were lower because of the crisis. Thus, the rate of hotel occupancy fell amounting to 87%, which has affected sales. In the statement, Philippe Gas, chairman of Euro Disney, said that the exercise "has been marked by the economic environment more difficult in our history."

Report of several payments

Under the exercise, the group has not met its predetermined performance goals.He has deferred some debt payments subject to long term as the 25 million of license fees due to TWDC and the 15.1 million euros of interest due to the Deposit and Consignment. It also plans to defer the payment of an additional $ 5.1 million of interest due to the CDC during the first quarter of fiscal 2010.

The operators do not like. The title plunges 10.17% at 5.30 euros to 10.10 am. They fear that the company does not have sufficient cash to repay its debts.