International Headlines and Stories

Europe is gaining time, but did not extinguish the fire in Greece. Following a conference call Saturday, finance ministers of the euro area have given the green light to release "by July 15" 8.7 billion euros in loans that should add 3.3 billion paid out by the International Monetary Fund (IMF). This decision was expected after the adoption this week by the Greek Parliament of the austerity program imposed by his European creditors. "It (the decision) strengthens the international credibility of Greece", immediately congratulated the Greek finance minister, Evangelos Venizelos.

As the new Executive Director of the IMF, Christine Lagarde, to take office Tuesday, the organization welcomed the developments."We welcome the commitment of the Eurogroup to a funding strategy that ensures that the Greek economic program is fully insured," said the spokesman for the IMF, Caroline Atkinson. No details however were given about a possible date on which the Board could meet to release the funds.

Berlin puts pressure

If these 12 billion euros to Greece should avoid going bankrupt in the short term, it is not enough to save the country permanently and fully reassure the financial markets. For this, the country has called for a second bailout International 110 billion euros. Finance ministers of the euro zone have promised yesterday decisions "in the coming weeks." For its part, the German finance minister, Wolfgang Schäuble, more prudent, spoke of an agreement by the fall only.Berlin looks indeed to be certain that Greece implement austerity measures quickly that the country has promised. "After the release of the fifth installment of the countries of the euro area and the IMF, the next step must be addressed decisively: the measures passed in Athens should be implemented quickly. Privatization, for example, must be launched without delay, "responded the German Minister of Finance. Response of Athens: the austerity plan of 28.4 billion euros will be implemented before mid-September.

Ireland, Portugal, Italy and Spain could knock on the door

These two months of rest should also help to advance on a second rescue plan 110 billion euros. Finance ministers of the euro area have not spoken on this subject last night.They expect to clarify the private sector, banks and other creditors, imposed by Berlin to a new plan to help decide. "The details and extent of the involvement of private and official sources of additional funding will be determined in the coming weeks," they said.

Time is running out: Ireland and Portugal may need a new international aid. As for Spain and Italy, both countries are under pressure from rating agencies. "The failure of European political leaders to resolve the crisis quickly and decisively hits the rest of the euro area," says Ben May, economist at Capital Economics. The United States pressed more in Europe to solve its debt problems to avoid a global impact."If Greece fell deeper into recession following the new austerity measures, it could reduce the willingness of governments to implement additional fiscal measures," says Ben May.

ALSO READ:

"The German creditors at the bedside of Greece

"Greece: restructuring considered inevitable and frightening

"SPECIAL – Debt of Greece, a challenge for Europe

"We all costs to avoid dispersion." This is how the head of state has summarized, in the fourth press conference since the start of his five-year, the method used for 18 months in the allocation of the general loan. Devoted to investment for the future, the meeting with journalists was an opportunity to the President of the Republic to take stock of its economic policy, and investment for the future that the arbitration had been made public December 14, 2009.

Eighteen months after the launch of the programs, 1.7 billion were directed to higher education and research, € 2.85 billion has been committed to industry and SMEs, 1.64 billion for sustainable development and 610 million for digital.Among the priority sectors, Nicolas Sarkozy also stressed the importance of health, with 2.4 billion euros allocated directly to the sector, accompanied by one billion euros to peripheral actions.

"It is essential that we have a world center of research against cancer," hammered the president on this point, stressing the danger of the fragmentation of research. The Head of State has also asked the government to "think" and "make suggestions" on the funding of an Institute University Hospital (IHU) focused on cancer. And for good reason: the six projects selected under the IHU of the call for projects large loan, financed to the tune of 850 million euros, none is focused on cancer.This has been the subject of much criticism, since this disease is the subject of a "Plan Cancer" initiated by the multi-year Department of Labor from 2009 until 2013, with the aim to unify, coordinate and accelerate research.

Finally, the President refused to ignore the nuclear, confirming that a billion would be allocated "to the nuclear program of the future", including the fourth generation. "There is no alternative to nuclear power today," he thought, pledging 1.35 billion investment in renewable energy.

Annual evaluation of projects

In total, about 35 billion euros announced in late 2009, about 13 billion has already been committed. By the end of the year, the Elysee hopes that two-thirds of the loan, or twenty billion, are effectively injected into the economy."France has never made such an effort in the service of investment," supported the president, noting that the successful projects were selected by international juries, very selective. The Head of State welcomed the enthusiasm shown by researchers and entrepreneurs, with over 1,500 projects submitted in 18 months.

Beyond the list of investments, Nicolas Sarkozy has strongly emphasized the leverage of the device waited, hoping that the 35 billion euros invested become "60-65000000000 through co-financing companies and local communities. "

Meanwhile measure the effectiveness of this leverage, the Head of State is committed to achieving an annual public review of the general loan disbursement, as well as "projects that have won awards and their results ".These results will be a press conference and a meeting of Parliament, Nicolas Sarkozy promised further. An evaluation he described as "normal" given the extraordinary in every project.

ALSO READ:

"Four hundred INVESTMENTS future already selected

"PORTRAIT – Rene Ricol, the referee of the general loan

"The great emrpunt gives pride to research

And if you asked more questions in the right place? "Suggests now a television commercial for Old National Insurance (CNAV) to the humorous. A few days before the commencement of the pension reform (July 1, read PreviousPage), the government explained to the French that they have several partners that would respond to questions they are sure to arise on their future retirement. Consultants by telephone (39 60), websites (pedagogical and practical), retirement calculator (m @ rel), statement of career situation, sources of information about retirement have increased in recent years.They are also more and more personalized.

Thus, the public interest group (GIP) Info Retreat, which coordinates 35 mandatory pension systems, address every five years from the age of 35, a statement of "personal circumstances" (those born in 1951 , 1956, 1961, 1966, 1971 and 1976 will receive their statement this year). This lists all schemes where the insured has acquired rights, with the corresponding periods, the compensation taken into account in calculating the pension, life insurance or the number of points acquired, periods or events that may influence the retirement age or the amount of pension (military service …). A document is purely informative.

From 55 years, is changing

Policyholders receive more than the statement a "rough estimate global" (in the basic and supplementary schemes), and the age of entitlement.Very useful, this document lets you know exactly the number of quarters acquired and especially to get a clear idea of ​​the amount of support we receive, if it pushes his retirement. "Generally, these reviews are thorough and well done. They have quite a few mistakes, "said Pascal Mignery, president of France Retreat. Mistakes are sometimes the result of the corporate employer, which did not submit all information collected at the time the computer did not exist short term personal loans. "But beware, these records do not mention the increase in pension for family of three children and periods of expatriation," he says.

In addition to these two devices, the law on pension reform introduced a progress retirement at age 45 (it enters into force in January 2012)."Each insured may request a personal interview on the rights he has made in mandatory pension systems," says CNAV. This will enable some awareness of the need to save for retirement yet distant. "It will also be very useful for expatriates who do not always know they can contribute to the French funds while overseas, in advance Pascale Gauthier Novelvy.

Also from next year, the younger will also be sensitized to the problems of retirement. After two quarters of work (validated), they will receive a newsletter on pension division.

If you want to know the exact amount of your retirement, you can use the calculator m @ rel (www.marel.fr).This will also allow you to know at what age you can claim a full pension and to know the financial consequences of an early departure. Small flat, you must enter yourself all your information. Moreover, this simulator does not yet take into account the terms of the pension reform.

Those who had a career more complex, punctuated with many changes (employer or status, for example) will knock on the door of a boutique firm that will help them see more clearly (at what age from, what are the benefits of combining employment and retirement …). "We help employees not err in departing three months too early for example. We are also much sought in their forties who are considering changing their professional status and wish to understand the implications this will have on their future retirement, "says Pascal Mignery.The price of such a service? Between 1000 and 5000 euros on average, according to the firms.

A year after the liberalization of gambling on the Internet, which some had as a jackpot is not insured the success expected.

While the law was intended to fight against an illegal offer bloated Regulatory Authority of online games (Arjel) has granted 49 licenses to 35 operators (25 in poker, 16 and 8 in paris sports paris horse) but some players – among the largest – continue to go on unauthorized sites. "One of the major objectives was to ensure that the French are all on sites approved by the Arjel, has not been reached," said Nicolas Beraud, president BetClick Everest Group and the French Association of Online Game (Afjel), which paints a mixed picture of the opening. Since June 2010, the French have wagered 1.5 billion euros in Paris and equestrian sports, according Arjel.In poker, the stakes are higher than 6 billion euros, plus 800 million in entrance fees to tournaments.

Newcomers complain about not earning money. They are also worried about the lack of appetite for players for their offer. "On sports paris, the number of active players accounts is down from the 7th month of the opening," says Christophe Blot, CEO Sajoo site.

Tax debate

In this context, the perspective of a possible change in the law, in November, is the subject of intense lobbying, pure Internet players (BetClick, Bwin …) are penalized by the judging rules. "We demand a change in the tax base," said Emmanuel de Rohan Chabot, CEO of ZEturf. Opinions differ."We stand for maintaining the cap are paid back to players, along with a set of taxation," says one to the PMU, while in the French game (FDJ), it is estimated that "the current tax helps contain the addiction and the risk of money ". "There is no need to change the balance of the law, thinks Bélinguier Bertrand, president of the Ffejel, which represents casino Barrière, Joa, Sharp, the FDJ and PMU. But we can simplify the formalities for opening accounts, expanding the supply of paris sports and strengthen the fight against illegality by giving more powers to Arjel. "

ALSO READ:

"Towards a reform of the law on online gambling

"The odds of paris internet sports plunges

The oil services group announced Thursday morning that net income for the first quarter of 104.3 million euros, up 8.8% over the same period last year. This result comes from a quarterly turnover shows an increase over one year of similar magnitude (+8.9%) to $ 1.4362 billion euros. These quarterly revenue slightly below expectations, but net income, it exceeds the expectations of analysts.

This difference is explained by the better than expected recovery in operating margin of Technip. Reaching 10.1% in the quarter, it is higher by 1.3 points in the consensus of analysts. It is still a little worse than the first quarter of 2010 (-0.3 points).

The Europe-Russia-Central Asia, the largest market Technip

The sales increase was primarily in the Europe-Russia-Central Asia.In this area, sales surged by 49.6% over one year to 398 million euros. The Europe-Russia-Central Asia became the first market Technip, while at the same time last year, it generated less revenue than the African zone (down from 2.7% in the first quarter this year ) and especially, the American zone. Largest market last year, the region saw its American sales by 22.1% melt over one year to 243.6 million euros, becoming the third largest market group.

The group's net cash position remains essentially unchanged at 1.3 billion euros, or 2.4% less than at the end of December.

Technip believes that its results "demonstrate the value of activity based on a diversified backlog."It confirmed its guidance for fiscal 2011 and expects its annual turnover is 6.5 to 6.7 billion euros, with a margin combined operating Subsea between 6% and 6, 5%.

Another gloomy day on the Paris Bourse. The CAC 40, which dived under the 3900 points yesterday, Tuesday is anchored in the red. After starting down sharply from 2.17% to 3793.95 points, the benchmark index in Paris lost its hollow and cowardly 3.43% to 3744 points to 10.30. In London and Milan stock exchanges follow the same path and also drop over 3%. The Frankfurt Stock Exchange widening its losses to almost -5%.

The indices are struggling to find their way to higher while the Japanese nuclear situation has worsened. Another explosion and fire occurred in the central Fukushima Dai-ichi. "The level of radioactivity has grown considerably" and becomes dangerous to health, "said Japanese Prime Minister, Naoto Kan, television, causing a panic on Asian markets.The Tokyo Stock Exchange, meanwhile, has fallen 10.55%.

The Bank of Japan (BoJ) announced it yet injected 3 trillion yen (26 billion yen) in the money market to support the economy, plus the 5000 and 15,000 billion yen already injected respectively in the morning and Monday. But this ad is not enough to ease tensions. Especially since the predictions of the impact of the disaster on Japan's economy grow heavy. Analysts now suggest 120 billion worth of damage and consequences for the country's trading partners.

Gust Indicator

Despite these concerns, investors could keep an eye on macroeconomic statistics of the day.In France, consumer prices are starting to rebound in February, rising by 0.5% in monthly changes, and a year where they show a growth of 1.7%, Insee said.

Then come in Germany, the ZEW index of investor sentiment, and the U.S., prices for import-export of February and the index of activity in the New York Fed in March to 13.30, the index of the property market from March 15 to 19.15 hours, the Fed decision on rates.

On the currency markets, the euro appears to drop in morning trading: a euro is worth 1.3940 (-0.46%).

The mea culpa Renault

Scor: -0.30% to 18.54 euros

The reinsurer announced that in the worst scenario for Japan, the total losses of the group in non-life net protections proportional and non-proportional, would not exceed 185 million euros before taxes.The group does not cover nuclear power plant operators for damages or any liability in Japan.

Overall, companies involved in the situation in Japan are suffering just like EDF (-3.31% to EUR 28), Areva (-6.03% to 29.60 euros), LVMH (-3, 66% to 102.70 euros) and RPP (-3.12% to 102.50 euros).

Renault: -3.56% to 36.81 euros

The manufacturer on Monday presented its apologies to the three frames he had unjustly accused of spying for China as well as measures to restore the image of the group, but Carlos Ghosn has refused the resignation of his number two, Patrick Pelata .

Assystem: -5.37% to 15.50 euros

The group expects to accelerate its growth in 2011 and expects to play a role as a consolidator in Germany, France and the United Kingdom.

Alstom: -4.12% to 36.96 euros (largest decline of ACC)

At 17 hours will be hearing from Patrick Kron before the Committee on Economic Affairs of the National Assembly on the activities of the Alstom group in the field of energy.

After market, Zodiac Aerospace will publish its revenue for the second quarter and first half results. Bollore will report its annual results.

The French will not endure forever rising fuel prices, without changing their consumption habits. According to an Ifop poll published Sunday in the South West, 47% of respondents intend to reduce their consumption now if gasoline prices continue to climb.

Consequence of the soaring price of oil, those fuel have reached record highs last week. A liter of unleaded 95 has sold 1.50 euros on average in the hexagon, and a liter of diesel 1.54 euros, said earlier this week the Directorate General for Energy and Climate (DGEC ). Some stations even offered Paris a liter of unleaded fuel to 1.8 euro.

If consumers incorporate more and more since 2005, the idea of ​​an inexorable rise in fuel prices, 1.5 euro per liter of diesel remains for many a symbolic threshold beyond which they consume as much. Only 15% of respondents put this threshold at a level greater than 1.5 euro per liter, said the survey. Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip), makes the same observation. He recalled that in 2008 when fuel prices had also risen sharply, the consomamation was down 3% once this threshold is crossed guaranteed unsecured personal loan.

Not lower taxes

The decision to reduce its consumption or not, however, depends partly on the level of life. 40% of workers have thus been limited.In contrast, managers and professionals are more likely (14%) than average (11%) said they will not alter their habits, whatever the price of a liter. For many, the level of fuel consumption is also strongly constrained by the lifestyle.

Faced with soaring prices, the government this week but ruled out any cut in gasoline taxes could reduce the transport budget of the French. "You can take steps this guy at a time when we must take into public finances," ruled the Economy Minister Christine Lagarde. It was therefore confined to advise the French to buy the morning and follow rules of conduct to reduce, even at the margin, the price at the pump.

ALSO READ:

Why fuel prices soar

"Historical Record gasoline prices

"The fuel consumption begins to decline

ALSO READ:

"Ecology: a poster campaign entitled shock

Egypt is safer. After the violent demonstrations against Mubarak in recent days, the French Ministry of Foreign Affairs recommends to "defer all travel" to the non-emergency countries. One can read in the Travel section of the site of the Quai d'Orsay that "French people there are asked to limit their movements to a minimum and to stay away from crowds."

Accordingly, the National Union of Travel Agencies (SNAV) said on Sunday suspended all departures vacationers "until further notice." Notably, "there will be no departures tomorrow (Monday)," said Georges Colson, chairman of the professional organization. For clients on site, they "extend their stay and return without incident happen normally. Charter flights are parties to seek empty of customers.There was no notable incident. "Toursits Nearly 1,000 French are still in the country. They were 4,000 in the beginning of the weekend, according to tour operators.

Customers affected by the suspension of departures "may defer travel free at a later date on Egypt or any other destination programmed by the tour operator, has previously provided the Centre for the Study of tour operators (CETO) in a statement quick payday loan.

By Friday evening, the French tour operators have suspended all departures scheduled this weekend to Egypt, following a request from French Foreign nationals "limit" their movements in this country. In 2010, 600,000 French surrendered in Egypt. Belgian tour operators have also decided on Saturday to suspend departures until Monday included.They do not plan to repatriate their customers already there.

Contagion events in North Africa has enough to worry the French tour operators. Tunisia is the first travel destination of the French, ahead of Morocco and Egypt.

ALSO READ:

"MINUTE BY MINUTE – The film on Saturday

"The Tunisian crisis and its contagion worry tour operators

"Egypt has cut off Internet

"Mubarak the Egyptian government dissolved

The High Audiovisual Council has not waited 24 hours to assign the first frequency of pay DTT project of the League of Professional Football. The latter defended Monday his proposed general channel 100% football. This choice was made at the expense of Digital TV and its hybrid project Select TV Channel + and especially defending Canal + Family, a channel targeting young children and the family expected to pay DTT more attractive. But for the CSA, football on television is the most unifying and the most attractive products. The nine sages have therefore voted unanimously with one vote for this project. Only Michèle Reiser would have voted against it.

The CSA will probably also sensitive to the need to stem the omnipotence of Canal Plus pay television and its hegemony over football.However, it is unclear whether this choice favors in the future dynamism of Canal + to distribute the pay DTT. This is all that Canal + has more than a million subscribers on TNT while the operator has 3.5 million subscribers for its other offerings, including satellite.

This decision could sour relations between Canal + and The Football League who become competitors rather than just business partners. This choice will then require APF Canal + to decide a little blind to the nature of the compensatory channel: free?

Finally, the LFP has to learn a new profession, that of editor of pay channel.

ALSO READ:

"The nomination of the string of soccer FIFA in question