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France will be at European level to assess the competitiveness of the German economy, an exercise which may lead to special attention after criticism from Paris with regard to the economic model followed by Berlin.

Countries in the euro area have recently established a mechanism for peer review of their economic situations and their competitiveness in order to better identify potential weaknesses.

This exercise of "peer review" (peer review) "is for a country to verify the commitments that have been taken (by another), most, least, lost, and to appreciate what could be improved the situation in the country in question ", said in Brussels the French Finance Minister Christine Lagarde, on the sidelines of a meeting with his counterparts from the euro area.

In this context, Spain has already benefited from advice from Germany and Finland from those of Ireland. And new tests are now planned. "I am appointed to review the situation in Germany, it will be in October," said Christine Lagarde. In spring, the French Minister of Economy had caused some irritation in Berlin in criticizing the economic model of Germany, a little too selfish for his taste. She was considered too export-oriented products made competitive wage restraint, and purchased by its partners including the EU, and not enough to support domestic consumption, which could also benefit the neighbors of Germany.

The German finance minister, Wolfgang Schäuble, has reacted with humor to the designation of France to consider the case of his country. "I am delighted.You'll see, this happens in perfect harmony, "he said in Brussels on Tuesday. "When is too powerful in terms of competitiveness it is possible that they may be criticized by others," he said, but "there are many points on which we can learn from each other." "The less you are perceived as arrogant by conducting a debate, the more we can enjoy," yet the minister said.

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European banks want to permanently remove the specter of the collapse of the banking system. Alessandro Profumo, UniCredit's boss and one of the most influential leaders in the sector, has relaunched the idea of creating a fund to rescue banks. The idea is simple: banks unite to raise funds that can then be used by an institution in difficulty.

Alessandro Profumo said that using this solution "allows one or more banks in trouble to find a quick solution and avoids any systemic risk." Deutsche Bank and Santander would be convinced by the project. In an interview with the Financial Times, the Director General of the Italian bank in advance that such funds could raise 20 billion euros in the space of a few years.

Several projects to protect the financial system have already been mentioned.Recently, France, Great Britain and Germany have called for the establishment of a tax credit which funds used to finance the rescue of an institution. However, according to Alessandro Profumo, the creation of a fund from the private sector is able to raise more money.

And initiatives to avoid another crisis are numerous. The Basel Committee develops banking sector reforms to prevent a collapse in the event of another financial crisis. Regulators, who are implementing these measures by 2O12, want to focus on strengthening the capital requirements and capital, and limit debt.

While it was feared the total liquidation of the company, Lee Cooper France has found a buyer in extremis for part of its business. After rejecting his time, the Tribunal de Commerce d'Amiens voted Friday to a plan to sell to a Parisian company, Linda Textile, led by Rami Smila. The new owner takes over 47 employees to 123, including 11 of the 73 site of Amiens. 76 employees will be dismissed and the remaining activities will be liquidated. The building dedicated to the logistics of Amiens will be returned to its owner.

Based in the Sentier, Linda textiles in 2008 showed a turnover of 34 million euros. She has a clothing business in Tunisia.She reportedly signed a letter of commitment with the company Lee Cooper Brands, which owns the brand Lee Cooper to enter a contract with it's operating license.

That is the difficult part of the record, which has discouraged potential takeover candidates. The U.S. fund Sun Capital Partners, former owner of Lee Cooper – also a shareholder of Sun-Playtex-out was the brand of the company's assets to stay in a shell company, called Doserno based in Cyprus. The Yankee Group Verywear, which was given in early June as the only potential buyer, had withdrawn the day before the court hearing, leaving the specter of an outright liquidation.

This disaster is avoided, but not the social destruction. Lee Cooper had counted up to 1,200 employees in the Somme.Under the leadership of Sun Capital Partners, sales have declined 30% in five years and the accumulated losses have reached 22 million euros, leading to its for bankruptcy in late March.

The Minister of Industry this morning installed the National Conference on Industry, vice-chaired by Jean-Francois Dehecq, former CEO of Sanofi-Aventis.

LE FIGARO. – What role will the National Conference of the industry?

CHRISTIAN ESTROSI. – I want to make the conference a tool of ongoing social dialogue and a place of decision on industrial strategy. It will involve public authorities, social partners and industrial development of industrial policy. It will be the instance of the government proposal for the development of industry and employment, as well as for monitoring of industrial policy. It's twenty years since Michel Rocard called the company's contract, the consensus culture as practiced in northern Europe.We're finally in place in our country!

How organized are discussed in the strategic sectors of the States General of the industry?

Today we present eleven strategic sectors for France, which will be organized into eleven strategic committees, introduced gradually by the end of the year. These committees involve the main stakeholders in each sector, including social partners. They will be the place for dialogue to define sector strategies and share a common roadmap for large groups and SMEs. The committees will die build an ecosystem that enable the relationship outsourcers / sub-contractors to improve. Adjustments on this list will be possible depending on the demands of the CNI. For example, one might question the advisability of creating a twelfth on energy.Nuclear plants are made from industrial components, and requires a comprehensive policy. Given our international customers, we must give the President of the Republic, which is our first sales representatives, the means to offer a range of turnkey products.

You promised 300 million euros to create an instance of strategic thinking …

In the eleven strategic sectors, 300 million euros will allow joint projects between large groups and SMEs subcontracting to see in the short term. A call for projects will be launched in September, and the best applications approved on 4 sectors: industrial units shared strategic support for SMEs, development of tools for collaborative services, new sector funds.The public share is 69 million euros from domestic borrowing, and leveraged co-investment with private, including leading 'heads streams, will fund 300 million euro project .

What form will the direction of 1300 billion euros in life insurance to the industry?

We are working to position ourselves on the subject this fall. Moreover, with Christine Lagarde, we decided to open the possibility of mobilizing savings from 2011 salary (company savings plan and savings plan for retirement funds) for the benefit of industry, SMEs and medium-sized enterprises (SSE).With nearly 12 million holders of stock for a total of nearly 80 billion euros and more than 2 billion collection a year, employee savings represents a tremendous opportunity to enable employees to support French industry!

200 million euros bonus for relocation are expected. This attracts carrot does business?

As of this morning, and ETI SMEs can apply for funding assistance for their relocation. The device allows up to 60% of the investment. With the introduction of green loans, available today, the first operational system of the large loan. Since the announcement of this device on March 4 last, my services have been contacted by many companies.The company Loiselet Dreux who relocated to its foundry operations, previously in Asia, creating 100 jobs, could be one of the first SMEs to benefit from the aid. 3S Photonics, specialists in electronics, which wants to relocate 200 jobs in the Essonne research is eligible. Yet last Monday, I met in Eure-et-Loir an electronics industry that wants to relocate 150 jobs.

You want to promote the Made in France. What incentives and what constraints do you use for that?

I propose that we make the Made in France the focus of industrial policy. I hope the establishment of an Observatory of Made in France, which will monitor key indicators and verify that the Made in France gained market share in each of our strategic sectors.I want one speaks of "made in France for industrial products which contain a significant component of French. As did the Germans in 2000, requires that when a manufacturer decides to manufacture a car, equipment and subcontractors French begin immediately to work together. This is not always the case. For its power Zoe, Renault has taken too late in the loop Valeo, which produces yet the air of its Clio 3. So, it is a Toyota subsidiary that won the contract for the air conditioner Zoe. The electric start Zoe Flins with 40% of French components. The objective is to increase this rate to 70% in three years. At 70%, the French Zoe will be at 40%. But it's not just the automobile.I think especially in aeronautics, for which I am extremely attentive to relations with the French subcontractors.

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Manufacturing activity in China slowed in June The official index of purchasing managers published by the China Federation of Logistics and Purchasing (CFLP) on Thursday declined last month to 52.1 against 53.9 the previous month. While some economists fear an emergency stop the engine Chinese Premier Wen Jiabao said the economy was "in the expected direction, under the macro control" of government.

Lefigaro.fr / jdf.com: Why is the "direction" taken by China worries she markets?

Lievore Hervé: We are currently in an environment where markets have a lot of doubts. Doubts that do not just China.Is the world economy will keep the cap at a time when fiscal and monetary policies are tightened and where governments put an end to the recovery plans? China, which is central to the global economy, has been ahead of the restrictive policies of bank credit. Therefore, it centralizes market attention. Especially since many signals fueling concerns, particularly the increase in property prices.

Herve Lievore, a strategist at Axa IM.

The war of words continues between EADS and Boeing. At the Economic Meetings held in Aix-en-Provence Circle economists, Louis Welsh, president of EADS, did not mince his words, less than one week the deadline for submission of entries two candidates for the big tanker contract from the U.S. Air Force One. "I think the nervousness that manifests Boeing in this case and the propaganda campaign that he led for three or four days shows qu'ls fear that we have a competitive bid on the tanker," he said. He added: "They the wind we have a better plane, they fear that we are cheaper than them.

This war of words reflects the highly strategic nature of this competition. The tanker contract is estimated at about U.S. $ 50 billion.Success would allow EADS to establish a permanent presence on the U.S. defense market. The chairman of EADS also shows serene. "We have reached an agreement with 200 companies amricaines," he says.

These statements are especially following the decision of the World Trade Organization (WTO) said Wednesday that "illegal" certain EU subsidies paid to Airbus for A380 No teletrack payday loans. According to Louis Welsh, it "changes nothing" for the A350. "The support for the A350 are not iIn the" scope "(Field, Ed) of the panel that reviewed the complaint of Americans," said Louis Welsh Saturday. He added: "It was explicitly stated that although such aid is not in the" scope ", they were sentenced prior BLES, since the system of repayable advances itself is not contrary to the rules WTO.

The Pentagon must decide to fall on the mega-tanker contract. Airbus and Boeing have until July 9 to finalize their proposals. A decision is expected next fall. The WTO will further conclusions on another complaint by the European Union it against Boeing for the same reasons for subsidies.

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At Éloyes in the Vosges mountains, weaver's factory-spinner Tenthorey running at full speed. Its order books are saturated for July and August. We had not seen for a long time. "Last year we shot 65% of our capabilities and is of partial unemployment. Since the beginning of the year, we are 100%, "says its president, Yves Dubief.

So we thought the French textile industry sentenced to inevitable decline, this outburst surprises. It is explained by a combination of rising costs for raw materials, the dollar, freight and labor, after an explosion in wage demands.Consequence: a significant increase in production costs in Asia, primarily China, which concentrates one third of world exports of clothing.

"For two or three months, the major macroeconomic trends are favorable to the French industry," says Emmanuelle Butaud, Union Textile Industries. The effects occur both in the production of fabrics and garments. The shortage of cotton in Asia has made prices soar 60% in one year. And Europeans have difficulty in sourcing because Asians are using them. Hence the rediscovery of local industrialists. "Then we were told we no longer need us, remember that customers are," enthuses Yves Dubief, which had reduced its workforce from 140 to 65 people since 2007.

"We feel that the cards are being reshuffled. China becomes too expensive.This benefits the producers of European or Mediterranean, "says Gildas Minvielle, director of economic observatory of the French Institute of Fashion.

While many textile factories have closed in China during the crisis, those who are now running at full capacity. This eliminates any room for negotiation on prices. Having grown from 20% to 33% of world clothing exports in six years, China seems to level off, even on the verge of losing market share.

The aspiration to a better standard of living of workers in the "world factory" is spreading. The strikes that have recently affected Foxconn, the subcontractor Apple, Sony and Nintendo and Honda have been symbolic of a fundamental shift that affects all sectors. Foxconn has agreed to increase wages by 70%.Manufacturers are responding by moving their production in coastal areas of south-east inland, where wages are lower, but this only postpones the problem. At Juijang, 8000 employees of a factory Adidas disconnected.

Relocate Maghreb

The principals also multiply their sources of supply by turning to countries with lower costs, such as Vietnam, India or Bangladesh. But these countries are in turn overtaken by the same aspirations. Seventh in imports of clothing in France, Bangladesh was paralyzed last month by a strike involving 800,000 workers from 700 textile factories demanding a minimum wage of 60 euros per month, instead of 25 euros today.

The brands of clothing that had rushed in Asia for ten years questioning their strategy."These pressures are pushing us to refocus our purchases," says Eric Sitruk, head of the fashion label Bel Air. When there is not enough value, we now prefer to supply us in Morocco, given the advantages gained in terms of cost, time and ease. "China has increased from 50% to 40% of supplies brand, which has recently relocated part of its production in North Africa, Turkey and even in France. Japanese Uniqlo, which buys 85% of its production in China, announced that it wished to relocate third elsewhere.

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The markets have shriveled in recent days. Some investors have feared that the European banking system does not dry Thursday 1 July. Nothing to do with the high temperatures: this Thursday is expected to expire a loan granted unprecedented giant and a year ago to more than 1,100 schools by the European Central Bank (ECB). Suddenly, it is 442 billion euros which will be withdrawn from the market said money, where banks lend to each other, relying on funding from the ECB. What, according to some, fearing a "liquidity shock".

The disaster scenarios should not happen. First, the interbank market experiencing excess liquidity. "We believe the need for institutions to 600 billion euros. However, it currently runs 949 billion, "said Clemente da Lucia, an economist at BNP Paribas.Admittedly, the withdrawal of 442 billion-lent at a rate of 1% – will create a "hole" of about 100 billion.

But this need will be filled by special operations of the ECB. It functions in effect always "tap" as much as it lends banks need. On Wednesday, the ECB has thus sold on the market at 131.8 billion euros of its operation weekly. The foundation also loaned on Thursday to six days to avoid a bank is not found in the temporary lack of liquidity. The appeal of air caused by the maturity of the loan to one year of the ECB should therefore disappear.

Dates shorter

"I feel that the concern to the unwinding of the operation of 442 billion euros have been largely overstated, analysis Bruno Cavalier, chief economist at Oddo Securities."The only difference now is that the ECB will pay now for a maturity of 7 days, 1 month or three months, instead of one year."

In July 2009 the ECB decided to establish a loan to twelve month-exceptional measure to reassure banks that no longer wanted to lend to each other. The situation has changed. Today, distrust is more widespread but focused on certain institutions, namely banks Greek, Portuguese and some Spanish savings banks. These institutions can no longer be in effect to finance on the interbank market, resort to the care of the ECB. Note the cost of credit charged by the institution of Frankfurt is higher than that attached to the interbank (1% against 0.40%).

Signs of mistrust

Some signs that reveal renewed distrust of some institutions.The number of banks used to loan weekly ECB has increased sharply last week, from 114 to 157. A crowd also much higher than that seen earlier this year, when the operations of the monetary institution attracted only 60 institutions. But as the ECB refuses nothing to banks, there will be no danger of drying up of credit markets, analysts said.