The top news headlines

In Athens,

In the land of Athena, the political wisdom does not really progress. After the euphoria fueled by thirty years of fiscal profligacy, the hurricane of the economic crisis and its attendant drastic austerity measures have devastated the morale of the Greeks. It is in this context they are called to vote for crucial general elections Sunday, the first since the trusteeship of the country by the European Union (EU) and the International Monetary Fund (IMF). A protest vote is more than ever on the agenda and many experts are worried about a coming political chaos in the country.

The thirty-two contending parties are divided into two camps. On the one hand, the "pro-memorandum," those who voted for and signed the austerity measures imposed on the country in exchange for two loans of 110 and 130 billion euros. Three parties are distinguished in this category: PASOK, Socialist Party headed by Evangelos Venizelos, former finance minister. Despite the seriousness of the situation, he is convinced that Greece is on track and ensures a crisis in the next four years. New Democracy (ND), Conservative Party, whose leader, Antonis Samaras, is leading in the polls, has primarily to renegotiate the terms of the memorandum by betting on the revival and development of the economy. Finally, the Democratic Collaboration Dora Bakoyannis, former Foreign Minister, may see his party not to cross the 3% threshold to enter parliament.

For Giannis Panousis, professor of criminology at the University of Athens, these parties may pay their hypocrisy. "The major parties say they have the solution for overcoming the crisis, while everyone knows that this is not viable. Even before the polls are open, public creditors remind the country that we will have € 11.5 billion of budget savings in the next two months. That means more job losses and new taxes, "he analyzes.

So, the vast majority of candidates appear in the opposite camp, the "anti-memorandum." They denounce the exact figures of sovereign debt, the trusteeship and loss of sovereignty. They rely on the record figures of unemployment and recession to convince the most disadvantaged and the young, depressed by the lack of future. Apart from the Communist Party (KKE), who wants to see Greece leave the European Union as soon as possible, the parties "anti-rigor" consider the place of Greece in the euro area as a given unbeatable. "They can not exclude us, otherwise there will be a domino effect and will be in a very bad position," quips Panagiotaros Ilias, number two Chryssi Avgi, "Golden Dawn" violent far-right group which expected to enter parliament for the first time.

In campaign rally in the Peloponnese, he assured his constituents that in addition to return all illegal immigrants in the country he will veto any legislation introduced to Parliament if they do not defend the interests of the Hellenes. "We do not need these bailouts which in reality are not. Greek debt is sustainable, but we pay the speculations of the great capitalists, "he says. Rhetoric that brings. Many supporters of this group recognize that ideology does not differ greatly from that of the far-left parties, "more patriotic".

Risk of paralysis

"Greece for the Greeks" is a slogan that is also found in the clan Panos Kammenos, leader of the Greeks independent. Surfing also on the crisis and desperation of the Greeks, the former Conservative wants to build on the country's natural resources to repay debt. He admits to not being away from ideas of Syriza, left-wing coalition led by Alexis Tsipras, also rose sharply in the polls.

If Greece is found unable to form a majority government coalition or Sunday, the risk of paralysis is real. "The instability will result when a violent change of political system as a whole and lead very quickly to new elections. The country can not be governed effectively as the situation requires it, "said political analyst Antonis Karakousis. "The question is whether the country can support a political crisis over the economic crisis or whether we will go, as some fear, toward a financial disaster and a danger to the sovereignty of Greece." ……. .

This may especially endanger the European reforms undertaken so far and very controversial in the population. Hence the concern of the country's creditors, which would like the Greeks realize that Greece plays its European future at the ballot box.

In Europe, stock markets resumed their breath on Tuesday, but uncertainty still hangs over the debt markets, fueled by the political crisis in the Netherlands and the period between the two towers of the French presidential election.

Spain and Italy have borrowed at rates up sharply Tuesday. Madrid has raised no issue 1.933 billion euros in vouchers at 3 and 6 months thanks to a strong demand of investors, but she had to pay his show twice what it had paid on March 27 for a similar operation; 0.634% to 1.580% three months and six months against 0.381% and 0.836 respectively

%

The Spanish Minister of Budget, Cristobal Montoro, speaking before MPs met to discuss the 2012 budget austerity, acknowledged that his country was "in a moment of extreme fragility", as the recession sets in peril promises deficit reduction. The country has promised to bring its public deficit of 8.51% of GDP at the end of last year to 5.3% this year and to 3% next year

The chief minister, Mariano Rajoy, said in Parliament that "the economic policy is a policy hard, expensive, that does not produce short-term effects, but this is what we need right now ".

Asian sovereign funds

For its part, Italy, who had taken advantage of favorable borrowing conditions since the beginning of the year, faces a rebound in interest rates business card design. The Italian Treasury has borrowed Tuesday nearly 3.5 billion euros on the market, as in Spain enjoying high demand, to 6.5 billion. But the rates of bonds maturing in 2014 surged to 3.355% against 2.352% at its previous similar operation in late March.

All is not lost, however, in the eurozone. Despite the political crisis and the threat of rating agencies on the Dutch AAA, the Netherlands has borrowed two billion euros in two years Tuesday, rates fell to 0.52% against 0.66% on secondary market on Monday. Many investors believe that the Netherlands has solid fundamentals frankly. "The yields are high but traders are satisfied," said Lyn Graham Taylor, bond strategist at Rabobank.

Another encouraging sign: the European Financial Stability Fund (EFSF) lifted successfully 3 billion to 7 years at 2.65%, or 160 basis points more than Germany. "This is a great achievement," commented Frédéric Gabizon, HSBC has submitted a tender. "Especially since 40% of the demand comes from sovereign wealth funds from Asia, which shows that outside of Europe investors are confident."

ALSO READ:

"The markets under pressure again

"SMEs have suffered from the credit crunch

There are increases that hurt the wallet, and others are welcome. The April 1 announcement of more good news than bad.

• Pensions

Pensions of the general (civil servants and private employees) rose 2.1% from the 1st April. A decision expected. A few days ago the joint supplementary pension schemes AGIRC (executives) and Arrco (all employees) have also taken account of inflation higher than expected in 2011 and have upgraded the pensions of 2.3%.

In a joint statement the Ministers of Economy, Baroin, and Labour Xavier Bertrand pointed out that the pension increases took into account inflation in 2012 (1.8%, revised upwards) and inflation recorded in late 2011 (2.1%) a differential of 0.3%.

• Minimum age

The minimum age knows him, a stronger increase of 4.7% and is increased to 777.16 euros per month for a single person and 1,237 euros for a couple. The minimum pension which is paid to 400,000 pensioners the most modest, however, does not yet live above the poverty line which is 954 euros per month for a single person. The proportion of the population living below the poverty line is 13.5%. During the five year period the allowance will be increased by 25% as promised by Nicolas Sarkozy.

• Disabled adult allowance

The disabled adult allowance (AAH) passes almost 760 euros on April 1st, up 2.2%. Accordance with the promise of Nicolas Sarkozy to the upgrade of 25% for the duration of his five years, the AAH "and go to 759.98 euro 743.62 euro per month against current" and "a second revaluation of 2.19% , take place on 1 September, "said recently the Ministry of Solidarity. It would then amount to 776.59 euros per month, or 155.32 euros more than in 2007. The AAH was seen by 915,000 people in late 2010.

• Family benefits

Family benefits increased by 1% (including family allowances, grants for child care, the allowance for school …). Previously, family benefits were revalued on 1 January. But last year, the government had rejected the revaluation at 1 April, making 130 million euros in savings.

In addition, as part of austerity measures, it was decided that family benefits are not adjusted according to inflation but growth. The expected savings are 400 million euros for 2012 and 500 million for 2013. Prime Minister Francois Fillon said that this would be limited to one year.

• VAT on books

After construction and restaurants, it's time to see their books go this Sunday VAT by 5.5% to 7%. Increases announced in fall 2011 and denounced by the booksellers, whose business is already one of the least profitable. At the Book Fair, the PS candidate Francois Hollande said it intends to reduce its rates "from 7 to 5.5%" if elected, to "defend the digital book at one price" and "protect the rights Copyright and the network of booksellers. "

Booksellers manifest on April 28, between the two rounds of presidential elections, on the feast of the independent bookstore.

ALSO READ:

"Disability: Government launches website

"Social Minimas: 3.6 million beneficiaries

The family group is very discreet about its level of profitability, but ensures that the results are sufficient to guarantee its independence and its development without the need for external partner and relatively little use of banks.

Part of the offshore production

"In 2012, the economic environment would be bad in Europe and the United States, recognizes Jean Cassegrain, but we feel no impact in our stores." As a result, the company, which opened 20 stores this year in the world, plans to continue its expansion, even in mature markets. Longchamp is well to open a shop in Nantes. "Our priority is to open boutiques in major European cities in China," says the CEO. Longchamp will open a store in Milan in March.

The Council of State suspended the execution of the decree of September 29 on the sale prices of natural gas, the institution announced on Monday. Gas prices are definitely a real headache for the government. Enact increases in the order of 4 or 5% per quarter is difficult to six months of a presidential election, particularly in times of crisis. So the government there decided by a ministerial decree of 29 September, to freeze the rates for individuals. This price stability followed that decided on July 1.

Problem: after much negotiation, the State and the suppliers had agreed in December 2010 on a formula, which was to end criticism of the political nature of periodic reassessments of gas tariffs.

"We can not accept that the agents are subject to threats or attacks," warned Sunday Christian Charpy, the Chief of employment center. A few days after the hostage-taking occurred in a Parisian agency, on October 17, management of employment center announced the launch of a major consultation on internal security agents. One way to defuse the anger rumbling in the public institution. In an already tense social climate, officers were called last week to exercise their right of withdrawal, in protest against the increasing number of attacks.

This finding, management did not question. Christian Charpy acknowledged Sunday that the hostage-taking last week's "testimony to the rise of attacks, mostly verbal but sometimes physical, faced by agents." 5500 incidents were recorded last year.Above all, their number increased by 20% in the first half of 2011, he told AFP. Heightened tensions, insults more frequent in the Home: Agents evoke an environment that has worsened since the merger and the simultaneous rise in the unemployment rate.

Warning system

Christian Charpy, however, refuses to see a specific employment center. Believing that the public body does not suffer more than others of the progression of antisocial behavior, it does not bind the surge in attacks "any degradation of service cash advance in one hour."

The solutions were then primarily emergency measures in cases of proven abuse. "We must ensure that the existing warning system works effectively anywhere," said Christian Charpy. Each agent is indeed supposed to activate a silent alert his office, which appears on computer screens of his colleagues.They can then take action.

If Christian Charpy does not support the presence of security guards in the agencies – a "temporary solution" – he argues in contrast to the introduction of mediators, "to facilitate discussion and resolve conflict." Such a solution is currently being tested in Seine-Saint-Denis and Marseille.

The director of employment center would also like to "systematize the presence of executives close to the reception areas, which are often the scene of the assault." In many cases, officers who work there are indeed inexperienced, often in CSD, and less able to deal with a tense situation.

ALSO READ:

"The attacks are increasing at employment center

All will be played Wednesday. "No decision will be announced following the summit of the euro area, which takes place this Sunday late afternoon in Brussels, although work is progressing well," said Nicolas Sarkozy and Angela Merkel in a joint press conference after a meeting of leaders of 27 countries of the European Union. French President and German Chancellor said that the work "techniques" were still to be completed by the new top of the euro area on Wednesday. The summit will be preceded by another meeting of twenty-seven, they said. "Work is progressing well on the banks of the support fund and the potential use of this fund. The assumptions are tightening and a broad agreement is taking shape. "

On the issue of Greece, progress, assured the leaders without giving details.The stabilization of the indebted country will pass through international loans and additional losses of creditor banks in the country. Europe the figure to at least 50%. According to the report of the troika (representatives of the EU, the ECB and the IMF), the discount should be 60% to maintain unchanged the envelope of € 109 billion promised to Greece, as part a second rescue plan officially recorded on July 21.

Main stumbling block between Paris and Berlin, the transformation of the European Financial Stability Fund (EFSF) in the bank, which insisted on France, finally does more of the options considered by the finance ministers of the single currency. The idea was that the Paris Fund bank can borrow from the European Central Bank. "The two options still on the table to strengthen the EFSF do not involve the ECB," confirmed the German Chancellor.This leaves two options: either the mechanism acts as a partial insurance of the public debt of troubled countries or the IMF is expected to increase its participation in the scheme.

In another area, "the work is progressing well on the recapitalization of banks," said Nicolas Sarkozy, again without providing details on the proposed solutions. Countries of the European Union discussed a budget from 107 to 108 billion euros at the meeting of finance ministers on Saturday night. "Banks must find the money markets," stressed Angela Merkel.

Finally, the pressure on Italy is maximum. The two leaders urged the Italian Prime Minister Silvio Berlusconi, with whom they met ahead of the summit, for it to decisively implement a program of growth and debt reduction Alps online payday advance."I hope that decisions will be taken (…) Italy is a major economic force but it has a very high public debt should be reduced in a credible manner in the years to come," says Angela Merkel . Nicolas Sarkozy has outbid by saying that Paris and Berlin were "confident sense of responsibility of all the Italian authorities' political, financial and economic."

"Do not repeat the mistakes of the past"

"We must work differently in the future," said Angela Merkel. German Chancellor said that we should not "repeat the mistakes of the past." The problem of the euro area far exceeds that of Greece, she hammered, emphasizing the need for each country to conduct "a tighter fiscal policy."The President of the European Union, Herman Van Rompuy, confirmed on Sunday that the EU treaty could be modified to improve the functioning of the euro area. "The aim is to deepen our economic union and strengthen our fiscal discipline," he said.

Europe is facing economically to "serious challenges", said Herman Van Rompuy, at the opening of the EU summit this morning. He felt that the decisions to be taken by EU leaders to deal with were "perhaps the most important" they've ever had to face the financial crisis. Greek Prime Minister George Papandreou, had also felt it was "time" to take "decisive and effective." "It is clear that the crisis (debt) is not Greek. This is a European crisis, "he judged.

For its part, the Belgian Prime Minister Yves Leterme had tried hard not announce anything at all on Sunday, in light of market pressure. "It is essential for tomorrow morning at the opening of markets, we have made sufficient progress so as not to jeopardize the credibility of the euro area," he said. Same story for the European partners have not adopted the single currency, which are concerned about the fallout from the debt crisis. "The crisis in the euro area is being extended to all our economies, including that of Great Britain ', launched the British Prime Minister David Cameron.

(With agencies)

ALSO READ:

"CRISIS SPECIAL – Fear of debt

"The EU is considering 108 billion to bail out banks

"Euro: Merkel will buy time until Wednesday

"GRAPHICS – The crisis of the euro, or the history of contagion

Mutual did not took off. And three-quarters of the French objected to the new tax increase on complementary health from 3.5% to 7% since October 1, according to a Harris Interactive survey for the French Mutuality published last Thursday. Over 85% believe that this will result in lower purchasing power. Mutual claim because they are forced to pass on the increase to their policyholders. "In recent years, the taxation of complementary health" officials "went from 0% to 13.27% since in the new 7% tax added to the CMU of 6.27%, that mutual insurers and health are the only ones to fund.We can not support such increases without raising rates, when, in addition, new regulations require us to strengthen our reserves and our solvency, "said Philippe Mixe, the president of the FNIM, the National Federation of Independent Mutual .

Only the GMF took the opportunity of talking to her, announcing that it would not apply to customers the increase decided by the government. A promise that did not cost too much: it has launched its health contract for just over a year, and still only 30,000 policyholders. "We want to develop healthy techniques and results are good. It is normal that we do enjoy our policyholders, "said Patrice Forget, Chief Operating Officer of the GMF. But the GMF stands alone.Even other newcomers in this market – as Amaguiz, the Internet subsidiary of Groupama, which has just launched its contract health – have incorporated the tax rates.

According to Mercer, the French who have subscribed to one of these individual contracts can expect an average increase of 8% of their bonus next year. An increase that reflects not only the tax but also the increase in health spending at the expense of additional no faxing pay day loans.

Contracts "storey"

Insured employees as part of their business are not better off. "The increase will be at least 7% on average," said Philippe Mixe. An invoice less and less accepted by employers. "From 2007 to 2011, contributions of corporate contracts have increased by 6.80% per year, including taxes," says Eric Demolli at Mercer.Today, faced with employees very attached to these contracts, companies, always keen to control costs, tack. "They seek to spread the increase over time in negotiating with insurers, mutual and pension funds. They play better competition. And they refine the guarantees, for example by eliminating reimbursements to "actual costs" too expensive, "says Eric Demolli.

More and more companies are opting for contracts as "storey" in excess of a basic "minimum" common to all employees, the company funded in whole or in part, employees who wish to be better protected may subscribe for options, they bear the cost alone.In their individual contracts, insurers also offer more health insurance "a la carte", where everyone can dose coverage of individual items (ambulatory care, hospitalization, dental, optical) depending on its needs and its budget. They also imagined, as in the last contract Amaguiz of low-cost, to benefit the insured packages for reimbursement when they increased from the previous year have not been exhausted, optics, for example.

ALSO READ:

"The costs of additional health singled out

The Paris Bourse after opening down slightly, sailing around the equilibrium after a session that saw the CAC 40 fly over 2%. In the morning, the CAC 40 in advance symbolically from 0.14% to 3235 points in early trade. Investors do not follow the mood on Wall Street yesterday and Asian markets this morning. The latter found confidence to the rhythm of advertisements European leaders on a plan to end the crisis. They particularly appreciate the position of the European Commission yesterday called for an urgent recapitalization of the banks deal with the debt crisis. Remarks relayed by the Minister of Budget Précresse Valerie, who, like Berlin, says it is "a necessity". France is willing to inject even said herself of public money to support its banks if necessary.

This commitment reflects a shift in the euro area on the Greek case.The taboo of failure is no longer excluded. The Chairman of the Commission José Manuel Barroso, called for "decisive action on Greece" while German Finance Minister Wolfgang Schäuble said yesterday that the overall level of indebtedness of Greece should be reduced s' it reaches an unbearable level, "to provide better opportunities" in the country. The discount will have to accept that private investors in the second aid package to Greece adopted in July would be 39% if we used the current market prices to assess the risk profile of the country, instead of 21% estimated at the time, said yesterday an official of the Institute of International Finance (IIF).

New vote in Slovakia, the euro rises

Concerning the Relief Fund in the euro area (EFSF), which must be expanded to support the plan to end the crisis, Slovakia has promised another vote tonight or tomorrow.It should be positive this time because four opposition parties agreed to support the government in place, Maturity of early elections. These data give back to the euro insurance. The European currency found the threshold of $ 1.38 in morning trading.

Oil, however, is small decline: a barrel of "light sweet crude" for November delivery lost 86 cents to 84.71 dollars. Barrel of Brent North Sea crude for November delivery yielded nine cents to 111.27 dollars for the last trading day of the deadline. The operators claim to be concerned before the publication of figures on weekly petroleum reserves in the United States no fax pay day loans. Another indicator to the American agenda: the weekly jobless claims, trade balance and budget.

Values ​​to follow

Total (-0.98% to 36.20 euros)

The oil company has discovered gas and oil off the coast of Norway, announced this morning the Norwegian Petroleum Directorate. According to preliminary estimates, this discovery is to be between 19 million and 101 million barrels. To dig the well that led to this discovery, Total was allied with Norway's Statoil, authorities said.

Carrefour plunged 4.16% to 17.17 euros

The group launched Thursday a new warning on its results in 2011, relying now on a decline in operating income between 15% and 20%, 15% instead of the planned end of August.

Lafarge (2.28% to 29.62 euros)

The French cement company announced an asset swap with the U.S. Martin Marietta, which he will sell the aggregates quarries and concrete plants ready and asphalt, in exchange for aggregate quarries and distribution sites .

Casino (1.98% to 62.71 euros)

The retailer saw its organic growth slowed in the third quarter with declining sales of its hypermarkets in France, but the group has confirmed its objectives for 2011 include the strengthening of its market share in the Hexagon and improving margins at Franprix-Leader Price.

Areva (0.72% 22.49 euros)

The consortium of the French group and Germany's Siemens called the Finnish operator Teollisuuden Voima (TVO) to engage in the path of cooperation with the approach the final stages of construction of the EPR reactor Olkiluoto 3 (OL3). The French nuclear group has also been licensed by the U.S. authorities allowing it to construct and operate an enrichment plant in Idaho.Finally, the boss of the group, Luc Oursel, raised the possibility "to smooth or to shift some investments to reduce risk and improve (the) financial situation"

ArcelorMittal (-0.38% to 14.47 euros)

The group decided to shut down two blast furnaces located near Liège in particular because of the deteriorating global economic situation, the financial daily reported on Wednesday Belgian L'Echo, information later confirmed by the unions.

ALSO READ:

Black week for France 2 and 3. Despite program schedules reviewed in depth, mayonnaise is difficult with the public. The two main public channels were last week is below their hearing before the summer is far from the promises made in September. According to figures from Médiamétrie, France 2 wins on the week with an audience share that does not exceed 13.3%, while France 3 is below 10% (9.4%). In September 2010, France 2 then peaked at 15.2% audience share, while the monthly regional channel still showed a 10.2%.

Stalls which raise the question as to whether the two chains have changed their schedule from top to bottom than the choice of new issues.France 2 and a string of setbacks on almost all of its new developments that would allow him to raise the level of 15% of audience share. The cultural program "preview" of Elizabeth Tchoungui, broadcast on Wednesday night in the second part of the evening, not taking off the 2.8% audience share on average over the first three editions. This does not represent more than 350,000 viewers. Worse, the average of this time slot falls from the hearings the first six months of the year. From January to June, met this box on average 1.2 million viewers and 9% audience share.

Too much competition

Similarly, the issue of Jean-Luc Delarue ("Family Reunion") is satisfied, on its first three editions, as 800,000 viewers on average for an audience share of 9%.Harder was the prime time last Saturday: "Sing Off, 100% Voice," which was to sign the renewal of the entertainment on France 2, has amounted to an audience share of 8.9% far from the figures usually produced by Patrick Sébastien, which peaked at 22.4%.

Finally, even the new programs of the day are not recipes. And "Hello-Good-bye," the sweet reality show on France 2, is far from the usual average of the chain on Saturday afternoon, or "Would you be a good expert," with Julien Courbet at 17 hours, has collected an average of 640,000 viewers. As the only major success of the chain is the current political program "Words and deeds" that convinced nearly 5 million people in prime time during the primary socialist."We did a lot of change and innovation on France 2 and now we set the grid on a daily basis. It is a spine that is being built, Claude-Yves Robin argues, the CEO of the chain, which defends its choice. The public needs to find its new benchmarks. "

France 3 next week, was saved by the sure value of the string, the series more beautiful life which, with its special evening on Tuesday, has almost reached 20% audience share. What correct very poor performance from the movie Carmen (only 6% Saturday night) and poor scores in some of the new issues of the chain. In Focus, the novelty of Cyril Viguier, "Friday on a plateau," which, on average, over its first three editions, totaling 500,000 viewers and only 4.9% of the audience. Or a score of half that of Mireille Dumas, at the same time, flirted with 9% of the audience.Even the program "Thalassa" modernized off easily. It was not until the last issue to find the audiences last year, around 9.7%. However, François Guilbeau, the head of France 3, prefers to remind "the excellent score of 19/20" with a new formula peaks at 17.3 audience share. "Moreover, he says, all our new programs are progressing. Ever, a program that installs not succeed the first time. Competition is too strong. We have the choice between innovation or re still the same programs. France 3 has chosen innovation. "Only the movie nights in the chain, éditorialisées by Frederic Taddei, are well above the average, to 11.4%.

ALSO READ:

"Pflimlin" France Televisions needs stability "

"France TV devotes 20% of its budget to the creation