International Headlines and Stories

The concern of earlier this week gives way to relief. After completing a session in the balance yesterday, marked by a small rise in the Nikkei 0.16%, Asian stock markets will resume after the announcement of the plan to stem the crisis in the eurozone. The benchmark index of the Tokyo Stock Exchange rose on Thursday at the close of 2.04% to 8926.54 points at.It's the same for other Asian financial centers: the Hang Seng index of Hong Kong Stock Exchange gained 1.74% to 19,399 points, the CSI 300 Index 0.26% 2658.42 Shanghai points, the Kospi Index Seoul 1.42% to 1921.29 points, the S & P / ASX 200 Index 2.43% to 4345.80 Sydney points, the BSE Sensex 30 in Mumbai at 0.20% 17,288.80 points and the FTSE Straits Times Singapore 1.63% to 2814.99 points.

Shortly before 4 am, France, Germany and the euro zone countries are agreed after intense negotiations with creditor banks on a 50% discount on debt securities Greek removing the last obstacle to a comprehensive plan of response to the debt crisis. The contribution of the private sector, coupled with an effort of the States of the euro area of ​​130 billion euros, will bring the Greek debt of over 160% of GDP today to 120% in 2020, said Nicolas Sarkozy.The French president also said that the means of relief funds in the euro area (EFSF) would be "multiplied" in order to reach "1.4 trillion dollars," or "1000 billion euros." For Nicolas Sarkozy, "the summit has to adopt elements of a comprehensive response, an ambitious response, a credible response to the crisis in the euro area". Even if the plan is still very fragile if the economy of Greece does not improve, he said.

The surge in the yen threatens Japan

For its part, the IMF Executive Director Christine Lagarde welcomed the "substantial progress" made at the EU summit in Brussels, welcomed the leaders of the euro area have set up "a program that will respond to the crisis in the region " check cash advance.Greek Prime Minister George Papandreou, for its part considered that a "new era" began in Greece, speaking of a "new beginning" with this debt reduction Greek.

On the macroeconomic front, the Central Bank of Japan announced Thursday a further easing of monetary policy to fight against soaring yen that threatens the recovery of the Japanese economy.The institute has decided to increase 5 trillion yen (47 billion) purchases of treasury bills, increasing to 55,000 billion yen (519 billion) the maximum amount it spends on purchases of government bonds, corporate bonds and other financial securities, and loans at preferential rates.

The euro has strengthened

In addition, retail sales continued to decline in Japan in September, from 1.2% yoy, due to the fall in purchases of TVs after an exceptional run in early summer, announced the Ministry of Economy Thursday. However, car sales have stopped their dive.Consumers remain cautious overall spending due to fears generated by the earthquake and tsunami in the northeast of the archipelago on March 11 and the Fukushima nuclear accident they caused.

Side values, the action of the group of cameras Olympus soared 23% Thursday at the Tokyo Stock Exchange, following the resignation of its CEO Tsuyoshi Kikukawa, accused by his British predecessor Michael Woodford to have overcharged acquisitions between 2006 and 2008.

The euro has strengthened, buoyed by hopes of resolving the crisis in Europe. It was worth 106.26 yen and 1.3975 dollars in Tokyo Thursday morning, 1.3908 against the dollar and 105.98 yen in New Yok the night before.

Finally, oil was up, after the sharp fall the previous day in New York.In electronic trading in the morning, a barrel of "light sweet crude" gained 1.11 dollar to 91.31 dollars a barrel while Brent North Sea crude for December delivery took 70 cents to 109.61 dollars.

The tax is sure to be one of the main themes of the campaign. First question of democracy: the French have always been upset with the tax. This is not new. But now they no longer understand the meaning. Taxpayers do not know why they are not taxed when the money from. They wonder if they are "just" dizzy and taxed at the constant changes in the foot of the state, making our tax system totally unpredictable, unreadable, and therefore ineffective.How many French know they will pay for the first time this year a portion of their housing tax for inter-municipal, that is to say, of municipalities, they know nothing? How many business owners know exactly how much they will pay in lieu of business tax, abolished last year in favor of two new taxes? Reconcile with the citizen taxpayer is more than ever an imperative, when the both of them were again tempted to exile.

Question of economic efficiency then. One can only be struck by the complete lack of fiscal strategy of the Finance Bill 2012, currently under discussion in Parliament. In the eyes of officials of Bercy, the only way to increase tax revenues is to remove the niches or benefits made in the tax calculation.More than half of the 11 billion euros in additional savings are announced in late August and the removal of some old tax benefits. Now that the idea has been fueled largely with public opinion than the 104 billion euros in lost revenue for state coffers that are the fiscal and social niches, half are "very effective" or "inefficient", this solution is actually the easiest to implement. But it can serve as long-term program. As niches, whose real term is "tax expenditure", are as fundamental to encourage private investors to replace the public investor.No niches, no investment in France, which already sorely lacking.

Reform the income tax

The tax reform in 2012 will revolve around three major issues: how to bring balance between taxation of wealth and income? How to get to his income tax progressivity? What future for VAT?

To these questions, the UMP and the PS will provide different answers, of course bad credit payday advance. But the rules are the same for all. France can no longer raise taxes. The tax ratio-mandatory, ie the tax burden, amounted to 44.5% of GDP, close to its historical levels (44.9% in 1999). But conversely, the disastrous situation of public finances prevents them down.The "big bang" will be announced fiscal totally bounded in the universe: it will be a rebalancing in depth, but revenue constant.

Some lines of force emerge. The income tax in its present form, is on trial. Two transformations are emerging: reconsider its progressivity, that is to say goodbye slices. Or merge it with the CSG, an idea that has the favor of PS and a large part of the UMP. This merger should not be mistaken, broaden the tax base, will make the income tax fairer, but will also be more painful for the average incomes.

Similarly, it will not escape a VAT reform. Since 2008, 15 European countries have found, for fiscal consolidation, so much so that the rate of 19.6% French is now among the lowest in the euro area, 1 point lower than the average.Especially down at the other, the government chose to lower it for some sectors (food, building …).

Finally, there is the balance between taxation of income and wealth. The most sensitive issue. Recently, in Le Figaro, the budget minister Valérie Pécresse explained: "By raising taxes on savings, we compare the taxation of wealth from that of labor income." The road has only begun. One can imagine what awaits holders of wealth in the coming years …

ALSO READ:

"Tax pro" Reform is not enough explained "

"Taxation: the rules for 2012 take shape

The tax. It scares some, who left France for tax heavens warmer (Switzerland in the lead). It works the other. The French tax system is so dense that the understanding, and around, held for hours and other estate planning tax, paid to find clever editing which will reduce the tax bill their customers.

The tax is also debate. Political issue, it will be based on the outcome of presidential elections next year. But whatever the future tenant of the Elysee, the necessary fiscal consolidation will make more bitter potion tax in France and elsewhere. This fall, several large employers, Maurice Levy (Publicis) to head, seized of the matter, declaring themselves willing to pay more, in the wake of U.S. financial guru Warren Buffet.Went to war for the tax to China with Bill Gates, the investors have called "the sage of Omaha" and admits that pay less tax proportionately than his secretary did not meet with success expected in the Middle Kingdom.

Tax loopholes less generous

In some banks, asset management, however, we feel that the climate is changing. Faced with the country's debt, attitudes are changing. "Taxes will go up, most of our customers are aware of, said Philippe Vayssettes, the president of the bank Neuflize OBC. The crisis has raised awareness to wealthy clients need to solve the problem of public finances, and his reactions to the tax increases are less epidermal few years ago.Many say they would pay more taxes, but only if the load is evenly distributed and that addresses the spending. "

France, in recent years sought to rebalance the tax burden on labor and the heritage. And tax loopholes were made less generous. Yet the French are addicted to the means to reduce their taxes. "Everyone is struggling to pay less tax, but push the system too far is destructive of social cohesion," says Mathilde Lemoine, director of economic research and market strategy of HSBC France. Investors rushed last year on investment in rental real estate law Scellier, which allowed them (for investments made in 2010) to obtain a tax reduction equal to 25% of their implementation, a limit of 300,000 euros.This year, the percentage of tax reduction increased to 22% for purchases in buildings BBC (low power) and uncertainty hovered for months about the future of the device. Result, the French have been slow to invest. The ax has fallen at the presentation of the Finance Act 2012: tax reduction Scellier expected to increase to 18% next year. Individuals tempted by a real estate transaction in the nine have a vested interest to act quickly if they want the rate of 22%, although an amendment could, if adopted, to take into account the sales agreement and not just the final act signed before the end of the year.Better yet avoid precipitation because tax savings does not always mean good business.

Before embarking on an operation of tax exemption must make an effort not to be blinded by the tax sirens and see the economic benefit of investment. And its output. With these precautions taken, why not kill two birds with one stone? Build wealth, comfort and reduce the income tax it will pay next year. For this, we need to invest before the end of the year. The tax paid in 2012 will focus on the income received this year. So it also charges, expenses and investments made in 2011 that will reduce the tax liability next year.

Individuals familiar with the outline of the 2012 budget, a few caveats about. We must also wait for the vote of the National Assembly and Senate to get the specific details of the measurements.On some points, arrangements are already being considered. The slowdown in growth means fewer tax revenues, will require to find recipes. The tax may be more severe in the coming years and levers to reduce fewer. One more reason to enjoy the levers that exist today.

Avoid the pitfalls of tax exemption

But the string of investments and existing mechanisms, it is often difficult to find your way. The folder you now offers Le Figaro Magazine, with the teams of the Particular (group Figaro), is designed to help you reduce the tax burden without falling into the pitfalls of tax exemption.So we sifted through real estate investments, financial products, including FIP, the FCIC and Sofica and investment overseas and work to achieve in its housing, which can afford to pay less tax next year, whether the income tax or, in some cases (direct investment in SMEs, gifts, etc..), the ISF. And to reduce taxation intelligently, we give you other ways to reduce the tax burden, such as investing in the forest or going into debt. Have a ball. –

Limit spending to curb the increase in taxes

We too often forget: you pay taxes to finance public spending. One way to limit the tax increase is to reduce them. It will do so, and ask what the costs really useful, "said Mathilde Lemoine.In a report last July, the Economic Analysis Council considers necessary and tax reform advocates an overhaul of the system of tax loopholes. To restore confidence in the fairness of our tax system, he advises to "better link the tax to ability to pay."But he warned: "To encourage investment guess you do not make the mistake in the name of the simplification of our tax system, a confiscatory taxation of capital income." Fiscal policy is a delicate, because ultimately, too many taxes kill taxes.

ALSO READ:

"Seven tips to reduce your taxes

1 – Choosing to let investment in direct

2 – Diversify investments with the stone paper

3 – New Development with French SMEs

4 – Focus on non-listed companies with the FIP and FCPI

5 – Acquire shares Sofica and finance the film

6 – Investing overseas with the industrial Girardin

7 – To carry out work for Energy

It's a funny for that women's football. Originally included in the most prestigious prizes for men and hopes, the TV rights specialists on women's football is becoming the subject of a separate market. Direct 8, the DTT channel created by the Bolloré Group and is currently being acquired by Canal +, made the nice observation. "In 2007, Yannick Bolloré has decided to change our schedule to that of a general channel, explains Thierry Cheleman, Director of Sports Direct 8. Implying sports programs. " Although too small to address the sporting rights of the men's national team, then put Direct 8 on the lower category. "At the time, the French Football Federation (FFF) launched a tender for the national championship and hopes, the director continues.This lot also included the TV rights of the Women's Team France until 2014, for which we are therefore committed to broadcast three games a year. "

Public expectations for the beautiful game

Bingo. More than blueberries (or hopes), the girls create the surprise sport in 2009 and 2010 during the qualifying matches in the Women's World Cup 2011. Helping performance, each game attracts between 300,000 and 400,000 viewers on TNT channel, reaching over 700,000 fans August 25, 2009, for the first prime-time (France / Serbia).

Rebelote in 2011. Building on this success for the Hearing, Direct 8 means in effect in 2010 with Eurosport, a subsidiary of TF1, the rights of the Women's World Cup 2011, acquired at the same time as the Men's World Cup 2010. Coproducts and codiffusés by both channels, games are a success hearings.Especially since the disappointment surrounding the men's team at the World Cup in South Africa in 2010 frustrated football fans. "After the episode of Knysna, there was a latent expectation of the French for the beautiful game and a fighting team, Fabrice Lorvo analysis, a sports marketing specialist at FTPA. The public was ready to ignite their national team. The spark, it is the girls who brought them. "

To date, the semi-final France / USA Women's World Cup represents the historical record of the chain … and all channels TNT (2.43 million viewers, 17.4% audience share). Normally, the average audience of Direct 8 between 2 and 2.5% market share. Since then, the magic continues.Since the start of the qualifying matches for Euro 2013 Blue to seduce between 720,000 and 940,000 fans.

The appetite of the major broadcasters would raise prices

Given this popularity, the chain does not stop there, and is now attacking the European and national. "If a French club in 2012 reached the final of the Champions League Women, we might be candidates to UEFA to broadcast the match," said Thierry Cheleman. Last year, the epic European Lyonnaises, who had won the competition against Potsdam, had already resulted in an audience of 1.2 million viewers (4.9% market share), peaking 1.9 million. Meanwhile, the management of Direct 8 has made an offer to FFF for TV rights of the first women's division (D1) over the period 2012-2014.Insufficient supply, Eurosport and France Television has won the set in August.

It is the flip side: the structuring of the market for women's football TV rights could eventually crowd out smaller players. "For the TV rights are the subject of a market requires that the images are produced and disseminated. Two years ago, it was not the case for women's football. Direct 8 that produces the games itself, has allowed the emergence of women's football on television in the clear, "Fabrice Lorvo analysis. On average, the chain said spend between 40,000 and 50,000 euros per game. The emergence of such a market whets the appetites and proposals for new broadcasters.

For the giants of the sport are Eurosport and Canal + could well participate in the cost inflation of rights, if performance women are superior to those of men.Inflation that is already seeing Thierry Cheleman, even if they are about 100 times lower than those of men. From this point of view, the acquisition by the pay channel Direct 8 could be an asset, "even if it is too early to draw clear ambitions to Canal + for Direct 8 on women's football," he concludes .

ALSO READ:

"OJ London – the FFF will pay Nike

"Women Foot: in the clear of the championship in 2012

"The triumph of women's football on Direct 8

"The girls burst from the screen

"The Blue, from darkness to light

Grisaille Economic ambient softness unusual temperatures have probably induced consumers for caution September. Including their clothing purchases. Consequence: France, sales textile clothing tumbled 10% over same month last year.It French Institute fashion (IFM) which launches the alarm in his last letter Conjunctural.

This falling sales spares no distributor:

-Department stores accuse thus decline sales 7% by value in September versus the same period 2010

-Chains saw sales backward 10%

-Downward turnover is 12% for independent multibrand and 14% Monoprix.

Chez Monoprix we confirms that "weather unfavorable impacted sales" but also justifies this bad news by that September 2010 compared, was excellent months "sales had then effectively climbed 7% "says we the distributor.Postponement a commercial operation christened "The nine days», held last year September but is programmed this year straddling September and October has perhaps helped falling sales recognizes we also Monoprix payday advance lender.

Worst September long …

Side independents multibrand, falling sales was certainly 12% September but segment lingerie posted according IFM the best resistance (+0.3% in value in September).

All distributors confused, sales had started marking time soon summer balances was disappointing for distributors.During the period January-August 2011, they had already declined by 1.7% in value over the same period last year.

The downward trend has clearly intensified in September, which is the worst for the industry for a long time: according to the IFM, clothing sales in France had indeed increased 2% in 2010, which was a good year, after falling 8% in 2009. But climbed 1.2% 2008 and even 8.3% in 2007.

The outlook for the month of October are not provided completely obscured: true, according to Franck Delpal, an economist at the IFM, a slight improvement in weather clothing is not excluded in October, with relapse of temperatures .

The growing unease among the agents of employment center. After the hostage Monday by two executives seeking employment in an agency in East Paris, the unions called on workers to exercise their right to withdraw this Wednesday morning from 9:00 to 11:00. This is for Inter to "denounce the continued risk of aggression sites," while a committee of health, safety and working conditions (HSC) Extraordinary meets at the same time to discuss the hostage taking.

The attacks of this magnitude are fortunately minimal. But officials complain, according to unions, to address a growing tension in the workplace. "For several years the violence they face every day progresses," says Philippe Berhauld, national secretary of the CFDT employment center. "The insults to home are becoming more frequent.Accusations of incométences have become commonplace. Accidents of this kind, we are about two a day just in my area, Midi-Pyrenees, "said Diane Gastellu, employment center agent and member of the HSC.

"We are ill-equipped to respond" Unemployment, which is struggling to recede, contributing to frustration and sometimes despair of the unemployed. The share of those seeking work for over a year, in particular, continues to grow. As for the merger of the ANPE and Assedic, made a forced march at the height of the crisis in 2009, workers often feel that it has exacerbated the situation. By increasing the pace of work – each manages a portfolio average of 110 to 120 job seekers – and requiring most agents they are versatile, transfer of public service employment has made their task particularly arduous.

"If the relations are more strained with the users, it is often because we are ill-equipped to answer them, says Diane Gastellu. The officers present at the reception may not have the dual responsibility on compensation and job search faxless pay day loans. Colleagues who have dual training are far from being the majority. " Result, when a job applicant has a question about computing the allowance, "it happens very quickly, we swim," says Councillor example. A situation reinforced by the fact that many agents are welcome CSD, and employment center of recent date.

Absenteeism on the rise

The use of telephone platforms, to relieve the agencies, does not help. "We refer more users to these platforms. This is resented, they feel taken for a ride. Their instinct is often to seek to impose the contact, "says she again."Before the merger, we had more time to spend in conversation with each job seeker. It's frustrating for everyone: for employees who feel they do not do a good job, and for users who feel abandoned, "said another officer, former Assedic, who has in the Centre region. Work overload, poor management of priorities, setting targets unrelated to the quality of service: agents are not left out of arguments to explain the increasing frustration of users.

Many strains on the health of employees and the social climate of the public institution. According to a Senate report released last July, absenteeism has increased by over 20% in five French regions and from 15% to 20% in five others. Urban areas, where the density of job seekers is important, are particularly affected."The medium and long stops diseases have increased significantly, says John Montero, TF delegate employment center. We deplore more depressions. More and more agents are taking psychotropic drugs, neuroleptics, have addictive behavior. It is time to do something. "

ALSO READ:

"The budget of the net decline in employment

"Nicolas Sarkozy mobilizes the prefects on employment

"The benefit for unemployed seniors partially restored

After winning nearly 4% last week, the CAC 40 was hesitant Monday. After opening on a positive note on Monday, rising 0.81% to 3243.93 points, it is passed back to balance, to 3218.06 points (-0.02%) on the stroke of 13 hours.

Investors have not long welcomed the determination shown by European finance ministers at the G20 Finance last weekend. At this meeting, the central bankers of the EU porutant promised to bring an answer this week "comprehensive and lasting peace" to the debt crisis at the G20. "Advanced countries will adopt, taking into account their respective national circumstances, policies to strengthen the confidence and support growth and implement measures clear, credible and targeted to rebalance public finances" stressed ministers in statement.

Above all, they promise to make a decision at the European Summit of October 23, described as "decisive" on Saturday by Minister of Economy Baroin. For its part, the ECB President Jean-Claude Trichet said the euro was "not threatened", but called on all Europeans to be "extremely vigilant" with regard to public finances.

Attempted to reassure the ability of the International Monetary Fund (IMF) to support countries in difficulty, Christine Lagarde, the Executive Director, has determined that the resources of the institution for the time were "appropriate" and "fit" to Micro Europe 1.And, while many European countries are considering to use the Fund to prevent contagion of the crisis in the euro area in case of bankruptcy of Athens.

Measures of expected savings on the U.S. side

On the other side of the Atlantic, U.S. President Barack Obama must include measures of fiscal consolidation through a savings plan. Last Friday, the country's budget deficit reached 8.7% of GDP in 2010-2011, 0.3 points less than in the previous year, according to the Treasury. In absolute terms however, the fiscal gap widened slightly compared to fiscal 2010, 0.4%, from the threshold of 1.299 trillion dollars, making it the second biggest deficit of the History of the United States.Concerns also weigh on U.S. growth, after the deterioration of consumer sentiment surprise U.S. beginning in October, falling incomes leading consumer expectations to their lowest level for over 31 years.

Following the announcement of the failure of 20% of the 360,000 small businesses in Zhejiang Province since the beginning of the year, Beijing also pledged to "rebalance" its growth engines through a battery of measures this week.

The euro retreated slightly

On the foreign exchange market, the euro fell slightly against the U.S. dollar on Monday morning at 1.284 dollars (-0.21%). While oil was up in Asia after a barrel of "light sweet crude" for November delivery clinching 35 cents to 87.15 dollars in early electronic trading.Barrel of Brent North Sea crude for December delivery gained 18 cents to 112.41 him dollars.

In terms of indicators, the United States, industrial activity in the region of New York (October) and the country's industrial production are expected in early afternoon.

In Europe, a speech in London Wolfgang Schäuble, German Minister of Finance, on financial regulation and fiscal consolidation is expected.

In Japan, industrial production for the month of August will be published in the day.

Banks remain top values ​​to follow this Monday

• Banking

Standard & Poor's (S & P) announced Friday it lowered the long-term rating of BNP Paribas (-1.47% to 31.77 euros) from "AA" to "AA-" and the Bichri (Banking Industry Country Risk Assessment) of France in Group 1 Group 2.In this context, investors will keep an eye on Societe Generale (-1.46% to 20.53 euros) and Credit Agricole (-1.52% to 5.11 euros).

• Dexia

The National Assembly will consider the draft supplementary budget by establishing a government guarantee.

• Air France-KLM (2.79% to 5.68 euros)

A special board meets Monday for the start RECORDED Pierre-Henri Gourgeon, as revealed by Le Figaro yesterday. In addition, three cabin crew unions (PNC) filed a strike notice for the weekend of All Saints to protest job cuts.

• Renault (+0.02% at 27.48 euros)

The new organization called the head of the manufacturer after the false spy case will come into force on 2 November as planned and strengthen the power of the CEO Carlos Ghosn with the aim to avoid the fiasco of the early recurrence in 2011.

• Axa (0.82% to 11.02 euros)

The French insurer Axa wants to eliminate by 2015 about 1,500 jobs in Germany, or one sixth of its workforce in the country, the Financial Times Deutschland on Monday.

• Eurosic (-0.68% to 32.27 euros)

The group has completed the acquisition of 22 office buildings with GE Capital Real Estate valued rights included 340 million euros.

• Edenred (-0.26% to 19.10 euros), Guyenne Gascogne (0.62% to 81 euros), Mercialys (-0.58% to 27.37 euros) will release its third quarter results after market close.

In purchasing real estate, the French would have become more opportunistic. This is reflected in a survey of the Land Bank published this Saturday in Le Parisien-Aujourd'hui en France, on Saturday. The study found that nearly two-thirds of the French advance will realize a capital gain tax at the time to buy an apartment. Thirty years ago, they were a little less than half. "In 2010, 22% of buyers formulate their intention to sell as soon as possible, against 4.2% in 1980," said the newspaper Deletré Bruno, general manager of Crédit Foncier. The desire to stop paying rent and security always have a home are the main motivations for first-time buyers that are what the generations (over 90% of respondents).The survey was conducted among four generations of first-time buyers (1620 people in total) signed a loan with Land Bank.

"Buyers more opportunistic and strategic"

To the general manager of Crédit Foncier, today's generation is more "strategic" than their elders who could probably more easily buy a long-term bad credit pay day loans. "We are faced with more opportunistic buyers, which are placed on a financial and strategic option," he said. Today's buyers who have experienced a doubling of prices in ten years are more responsive to market conditions according to this survey (75% against 66% for buyers of the 2000s) but not more concerned than previous generations to build a retirement investment (on average, between 71% and 72% by generation).

In this context of rising prices, buyers today feel more proud to own (67% against 54% for generation 2000). Generation in 2000, helped by a favorable economic environment, expressed "most satisfied", the buyers of the 1990s say they are "reasonable" and those of the 1980s put forward the "sacrifices" made to repay the loan.

Signs of renewed confidence in the euro area is growing. At a time when international financial markets reflected the colors, the single currency rises against major currencies. The euro stabilized early this morning above the threshold of 1.38 to 1.3808 dollars against 1.3617 dollars just yesterday, its highest level since Sept. 16. The euro also advanced against the Japanese currency to 106.52 yen against 104.52 yen a day earlier.

This rise of the single currency is a sign, according to one analyst, "the market seems a little more optimistic." In fact, for several weeks and an acute crisis on debt, the euro was more the subject of a "massive unwinding of positions."

Investors continue to regain confidence in the idea of ​​a solution to the debt crisis.Policymakers ensure that the enlargement of the European financial stability will be ratified soon, Slovakia should indeed turn around in a new vote tomorrow. What can the countries of the euro area together to help troubled banks to recapitalize, to avoid the bankruptcy of an institution that could create a systemic shock.

ALSO READ:

"The Paris Bourse is back on the rise

"Europe prepares its banks to a shock on Greek debt

Warren Buffett returned to the Tax imposed on it wishes to super rich. In a letter to an elected Republican congressman, Tim Huelskample, billionaire furnish in support of his argument precise details of income and tax it performs.

The third richest man in the world it reveals an annual income of $ 62.8 million in 2010. But thanks to various deductions which it benefits, taxable income does not exceed $ 39.8 million, he had already made clear this summer, so he paid $ 6.9 million in U.S. Treasury as 2011au the tax. Either a tax rate of 17.3%, lower than that fulfill many Americans from the middle class, including his secretary, said, according to AFP, the billionaire in a letter dated Tuesday.

Call for Rupert Murdoch

Warren Buffett, who supports the Obama administration's desire to impose more richer to reduce the U.S. deficit, has also urged his countrymen to publish very easy to turn their tax form no fax cash loans. "It is clear that many ultra rich pay even lower percentages than me on the federal government, and get the amount of taxes could be useful to legislators to establish a fair tax code," he wrote to Tim Huelskamp.

Warren Buffett had called last week Rupert Murdoch, owner of the Wall Street Journal, to publish its tax-bill, after the publication of an editorial highly critical of the "Buffett tax" in the popular business daily.

A report published on October 7 by the Office of the U.S. Congress is in support of the speech of Warren Buffett.According to the report, 25% of American millionaires, or 94,500 people actually pay less tax than the 10.4 million households earning less than $ 100,000 a year. On average, however, the millionaires perform according to the report of a tax rate of 30% when these middle-class households are taxed at only 19%.