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October 1, Groupe Lucien Barriere should take his first steps on the Exchange. Wednesday night, after the close of trading, Accor announced it was withdrawing the offer to sell its 49% stake in Barrier lack of interest. "This participation is valued between 500 and 700 million euros", explained Gilles Pelisson Le Figaro (our editions of February 25).

By renouncing the transfer, it actually cancels the operation. Groupe Lucien Barriere securities were offered for sale at a price between EUR 16.10 and EUR 19.60.The final price for the placing on the market would normally be announced today, to allow the first steps Fellows casino operator tomorrow.

The Paris market does not like this ad: shortly after the opening of the Paris Stock Exchange on Thursday morning, Accor sells 2.5% thus registering one of the largest declines in the Cac 40, which fell for his part 0.6%.

Operation deemed "unclear"

"The operation was not obvious," says one banker specializing in fundraising. The segment of mid-cap companies is complex by nature and the sector does not dream of investors.The stock market performance of comparable, as Partouche, really did not plead for Barrier. "An argument partially taken over by Accor attributes that failure to both bad timing, a failure to market the casino sector, comparable to some carriers , referring to him as well, but a hint rival Partouche.

Accor justifies its decision, which took down many observers, the lack of investor enthusiasm for this band best known for its casinos but also has hotels, restaurants and bars, including Fouquet's payday loans direct lenders. "The offer did not meet the expected success in the proposed price range," says a spokeswoman for Accor.

A disposal plan quickfire

In an attempt to reassure the French number one in the hotel said that he is ahead in terms of asset sales it had set.In May 2010, he was 2 billion euros in sales by 2013, mainly walls of hotels. This year it was to achieve 450 million euros. The group should be ahead of its plan from 150 to 200 million by the end of the year.

In addition, good half also helped to strengthen Accor's finances. The abandonment of the sale should not have any impact on the balance sheet. This participation has been deconsolidated and should remain so for at least a year. However, "the group's debt was to be accelerated will now at a normal pace," said Gilles Pelisson warned Wednesday that "always said" it does not curtail Lucien Barriere.

Nevertheless, the sale of the stake in Barrier should be only a postponement. It remains a "non-strategic assets." All options are open again, including the search for an investor.This hypothesis has yet been abandoned once, management of the IPO Barrier preferring this solution.

Gilles Pelisson has reiterated "confident in the prospects of the group" remains "a great asset." Accor also claims to have "the ability to continue its expansion while retaining its stake in Groupe Lucien Barrière to benefit from the expected value creation."

Since early summer, ads for "carts" feed rumors to the City and on Wall Street. End Dated: Management of Royal Bank of Scotland (RBS) said this week the representatives of its staff it would cut 500 jobs in its support functions. In two years, the Scottish bank will be nationalized and reduced its workforce by 27,000 jobs.

Barclays Capital and Bank of America Merrill Lynch apart for each share of about 400 bankers in financing and investment. Credit Suisse is "satisfied" at this time to reduce its workforce by 75 positions. The three institutions have, in the month of August began to target the jobs concerned. The majority of deletions is the City, but this new wave of austerity could spread quickly to Wall Street.According to Fox Business Network, Morgan Stanley has decided one month ago to freeze all its investment arm for his hires until the end of the year.

After a cold spell in the months that followed the collapse of Lehman Brothers, Morgan Stanley, just like all its competitors, was given to hiring (400 people) last year. The momentary relief from market activities, so let's hope for recovery.

But optimism will not last long. Revenues in investment banking are expected to decline throughout the third quarter due to weak trading and capital markets. Deutsche Bank, the first German investment bank, announced at a profit warning that earnings from its corporate banking division and securities could be significantly lower than the previous year same day payday loans.Hedge funds are also affected. According to sources, the Financial Times, DE Shaw, the second largest fund alternative world, preparing to lay off 10% of its workforce, or 150 people.

Bonus "really, really weak"

Lane discordant pessimistic in this concert, the CEO of Societe Generale, Frederic Oudéa said yesterday that trading conditions had improved between the second and third quarter.

The famous financial analyst Meredith Whitney on CNBC Tuesday examined the issue of compensation. The drop in revenues in the second half in investment banking bonuses would result in "really, really low."For the record, the average bonus in New York in 2009 had risen to 123 000 dollars per head.

In a report in late August, the same analyst estimated that job losses in the financial sphere would reach a total of 80,000 posts in ten months. The announcements this summer are only the beginnings of larger movements. Most of the dismissals in the first quarter of 2011. Banks are adapting to the difficult environment, but also the prospect of new prudential rules. The future banking regulation, on which floor the G20 looks for increased mobilization of capital in the face of business trading. A de facto requirement that will make these activities less profitable for institutions, which could encourage them to further reduce the wing.

"France is out of the crisis." From the outset, the Minister of Economy Christine Lagarde, the color displays. Although unemployment has increased again in August, she is resolutely optimistic. "The numbers are there to tell," she says. Especially one that is an important signal to me: the resumption of investment. For the first time since the crisis, companies are reinvesting. "

Growth: 2.5% in 2012

The one that says "have no need to master or protector" is even more optimistic that she hoped a "positive surprise" for growth of gross domestic product in 2010, which it believes will be "of at least 1.5%. The Economy Minister also confirmed that growth will be 2% in 2011, and announced that it will be 2.5% in 2012, "thanks to the global recovery and reforms that we are."A figure consistent with estimates of the stability program submitted in January to the European partners.

Deficit "less than 8% end 2010 '

On the deficit, she said it would be less than 8% in late 2010, without giving a precise figure, unlike the budget minister Baroin. On France 2, there is a little over a week, it confirmed the figure of 7.8% deficit for this year advanced by Le Figaro. The minister added that the public deficit will be 6% at end 2011, 4.6% in 2012 and 3% in 2013.

"In trend, unemployment is improving"

Regarding unemployment, Christine Lagarde relativize the sharp rise in August (15,900 job seekers). "This does not change the basic trend is improving, she says. She recalled that the unemployment rate stabilizes (9.6% in May and 9.5%, and 9.3%) and decreases in the long term.The figure for the number of new jobs since the beginning of the year is there to prove to her: "60000". He added: "It would be great to get to less than 9% (unemployment) by 2012."

Budget 2011: "Everyone will participate"

The Minister of Economy has also discussed the 2011 budget. In one year, the state must find 40 billion euros and 100 billion in three years. The government has decided that reducing the tax loopholes of 10 billion euros. "This budget courageous and determined. France has never made such an effort, to reduce the deficit to two points. All arbitrations are performed. Everyone will participate, "she says. Christine Lagarde said in particular that 60% of 10 billion euros will be borne by businesses and households by 40%.

Lagarde does not exclude the loss of tax shield

The Minister of Bercy is back on two tax loopholes: the tax shield and grooms and PACS. For the first, it was yes. "It will change." "It will not protect for the high income and capital income," she added, referring to the "movement of the plane" on certain tax and social niches. On the merits, it held that "the principle that a taxpayer pays no more than 50% of taxes is a good principle." A veiled, Christine Lagarde seems even consider the demise of the tax shield. "The president asked us to work on a project. The principle is the fiscal convergence with Germany. " However, across the Rhine, there is no tax shield, or wealth tax.A report on this subject was asked the Court of Auditors by Nicolas Sarkozy, to study French and German tax systems

"No tax incentive to marry or divorce"

Regarding the tax benefit granted to married and civil unions, the Minister of Economy has confirmed that it will be deleted, as announced Baroin. "It should not be any tax incentive to marry or divorce," she said. Until then, young married / civil unions could sign three tax returns. Now they must choose: either they are filing a return for each full year or they transmit a common treasury.The divorced are they forced to write two separate statements for the year.

Volatility in the euro / dollar "penalizes industrial"

After flirting with the $ 1.20 mark in June, the euro rises sharply. The single currency is now worth more than $ 1.34. This increase has made it too fast? Christine Lagarde, the answer is yes. "When the value of the euro against the dollar is volatile as it is not good for manufacturers, especially those that export," she said, citing the case of EADS, parent company of Airbus, including President Louis Welsh regretted the weakening dollar.

For the third meeting against the proposed pension reforms, protesters have been with the unions CFDT and CGT, more numerous in the streets of the country during the last day of action on September 7. The CFDT union reported at 5:45 p.m. for some 2.9 million people as he had advanced the estimated 2.5 million during the previous day. As for the CGT, it believes that the events were attended by 3,000,000 people. At the last rally, the CGT had comptablisé 2,735,000 demonstrators. For the Department of the Interior, it is far from the figures released by the two trade union representatives. At 17.45, the department had comptablisé 997,000 demonstrators against 1.12 million on Sept. 7.

The only certainty for now, the first figures in large companies and government departments show a strike rate down from the day of action on 7 September, which was a success for the unions. Examples are found 37% of strikers by management at the station, against 42% in the previous appointment (respectively 49.85% and 51.8% according to the unions), 18.5% according to the Post direction against 24.7% September 7 (30% and 37% according to South) as RATP (16% of strikers by management, as against 22% 7), or 26.94% at France Telecom cons 34% previously. In the public, the department 21.44% of strikers against 26.76% last September 7. At the employment center, one of the largest utilities with 50,000 employees, the figures show the huge gap between data management (12.3% of strikers) and trade unions (18%).On the side of National Education, 25.8% of strikers, down from 7 (29.4%), according to the ministry, which recorded 32.68% of strikers in the primary (33.6% on 7), and 19.86% in secondary (25.8% 7). The unions have announced their side nearly 55% of strikers in the primary and 45% in secondary schools (against 62% and 55% 7).

The mobilization in large cities

As for the demonstrations, the Interior Ministry recorded a little less than 410,000 demonstrators in France in mid-day, against 450,000 in the last movement. In Paris, where the parade started at 13:30, the police prefecture of Paris announces 65,000 people is "under 15,000" that ten days ago. The CGT Ile de France accounts for its share, about 300,000 people, 30,000 more than 7 September. And to clarify that the procession had split in two.In the provinces, 22,000 demonstrators were recorded by police in Marseille, 220,000 according to unions, and 37,000 and 120,000 respectively in Bordeaux. In Lille, the unions announced 30,000 participants, is exactly the same figure two weeks ago. The police, however, revised downward its sales from 19,000 to 12,000 people. Even finding in Nice, unions identify 35,000 protesters marching through downtown and on the promenade of the English. According to police, participation is declining: 7,000 against 10,500 during the previous day of mobilization. In Rouen, the event attracted 65,000 people according to organizers of a level equal to the mobilization of September 7. Police said his side the figure of 15,000 against 21,500 two weeks ago.In Toulouse, the unions put the figure of 120,000 demonstrators against 110,000 two weeks ago but the police are talking about a recession, with 25,000 people in the procession cons 32 000 September 7. In contrast to Lyon, the mobilization is a bit higher than it ten days ago. The event was attended by between 18,000 people according to police and 36,000 according to unions. In Strasbourg, 7700 people, police, and 22,000, according to the CGT, demonstrated.A figure rose from the mobilization of September 7, which brought together between 7,400 and 18,000 demonstrators.

A bailiff appointed Albi

To validate the methods of accounting, the police enlisted the services of a bailiff for counting at the same time as the demonstrators marched Thursday in Albi cons of pension reform and to find fault with those who accuse cheat on the figures, said a police source told AFP guaranteed fast personal loans. Result of the operation: 4,380 demonstrators by the bailiff, 4,200 according to police, 20,000 according to unions."It will perhaps silence people who think we do not do our job well," said a correspondent of AFP Chief of Department Directorate of Public Security of the Tarn (DDSP), commissioner Paul Agostini .

Many officials had "fingered" the fact that the Tarn was among the districts where the differences between the counts of the police and union were the most important, he said.

The use of a huisser justice aimed to validate the police methods. But "it's a way for us to see that we do not err in counting, and our system of counting is correct," said the director of the DDSP.

"I positioned myself somewhere in the parade rather narrow and close to count reliably," said the bailiff, Lawrence Vialelle, deployed in the streets of Albi with a colleague."I was provided with a counting device to boost each passing head. I have spent my thumb! "He added. He admitted "a margin of error of 100 people because, at times, the human cluster was more compact. Commissioner Agostini declined to say who would be paid by the fees of the bailiff.

"Bet won"

In view of these elements, the Elysee was raised a "significant decline" in the number of strikers. She sees the sign that the French "may adhere more to the reform. The unions have accepted a different interpretation: the secretary general of the CGT Bernard Thibault welcomed a mobilization "in the same waters as September 7, while the leader of the CFDT, Francois Chérèque, found the events "at least as important." "Bet won," he said.He added: What we expect is that the government decided to revise its reform and build another. " For its part, the union leader FO (FOR), Jean-Claude Mailly, called for further action if the government does not suspend its project.

More info in video itélé.fr

This morning, the unions also showed optimistic. On RTL, François Chérèque, the secretary general of the CFDT had predicted a movement "mass" of employees this Thursday, September 23. "There will still be very large demonstrations across France," he said. "Perhaps no more than 7 September last, we'll see. But for the Ile-de-France, for example, there were more cars ordered in the departments to come to protest in Paris "that at the last day of action.

The mobilization of September 7 was a success for the unions, who had managed to gather 1.1 million people according to the Interior Ministry, 2.5 million by the CFDT, or numbers above the June 24

A day "decisive for the result of movement"

If private sector employees have probably been harder to come out and show for the second time this month, the success of this day of action was considered "decisive for the next movement," said Francois Chérèque. "The government is to doubt. There are already five or six subjects on which the government anticipates the changes [...] We will demonstrate now that people are mobilized. And I think the government is looking very seriously the number of demonstrators.For his part, asserted Wednesday that the Elysee the new day will not affect the union reform.

As for the possible outcome of the movement, "we will decide Friday morning," said Francois Chérèque. Jean-Claude Mailly today called his wishes another appointment, "for the government to suspend its project on pension and reopen discussions. But according to information from Figaro, the unions have in fact already scheduled two new mobilization days at the beginning of October. One would take place during the week and the other during the weekend. Dates have not yet arrested.

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Everyone agrees: there will be advertising during the day on France Televisions. The question is how long? The government has decided on a moratorium of two years before the removal of the pub during the day. But Tuesday, the members have gone further.The working group led all summer by Michele Tabarot, president of the Cultural Affairs Committee, and on advertising on France Televisions said: "We need the moratorium lasts a minimum term of office of President of France Televisions , that is to say five years, "argues Jean-Francois Cope, president of the UMP group in the National Assembly, adding:" The moratorium could last forever. "Today, the boss of Deputies UMP does cover more: "I never believed in the need to remove the advertising day and now the state needs money."

So he took two years to parliamentarians to amend smooth one of the most sensitive of the reform of France Televisions, which was based on the total suppression of advertising on public service. By spring 2008, the Committee Cope had half way in advocating its provisional retention during the day.

Now it belongs to the Finance Act permanently attaching the device. For now, the government, through the voice of Frederic Mitterrand, is resisting. The Minister of Culture and Communication supports a moratorium limited to two years. Similarly, he wants tougher rules on sponsorship. The labor group also falls on this point. "We want the maintenance of all exceptions to the pub in the area of digital media, has yet said Jean-Francois Cope, on behalf of the working group believes that" sponsorship should stay on the air. But we want to ensure that programs begin strictly at 20h35. The schedule is the schedule. "

Members were, however, carefully refrained from taking a position on a possible sale of shares of the advertising. It aims to become the armed wing of the commercial hub of France Televisions.Commercial revenues (excluding advertising) represent 16% of sales from the BBC, but only 4% of that of France Televisions. In return, the task force recommends a more flexible system of private broadcasters who pay a tax on advertising revenues to finance the end of the pub screens after 20 hours. "The evidence is there that there were no reports of massive advertising on private television. Therefore it is just to fix the fee to 0.5% of advertising revenue instead of 3%. "Oddly, the tax of 0.9% which are subject to telecom operators is maintained. They have complained to Brussels. "We await the response from the commission," elude the deputies.

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Sofitel finally off again on the offensive. Since 2007, the upscale brand hotel group (best known for its two-star Ibis) mainly reorganized its fleet by increasing the number of Sofitel 206 2007-120. It now provides thirty openings in the world by 2013. The next is scheduled for mid-November with the opening of a brand new Sofitel Vienna (Austria), designed by architect Jean Nouvel.

"The brand had lost its coherence," said Yann Le Figaro Caillère, Chief Operating Officer of Accor. The upscale hotel was not in the DNA of Accor, a global champion of budget hotels. Today, we know. We have done the sorting, learned to adapt to the codes of luxury, including the recruitment of talent from the competition.Sofitel now has its full place within Accor, with an upscale positioning is very clear. "Would that in France, which has 11 Sofitel hotels against 30 in 2007, all claim the fifth star. Seven have already.

Employing 25,000 people worldwide, yet the chain is managed as a separate legal entity. Since 2007, the activity is housed in a 100% subsidiary of Accor, Soluxury HMC (Hotel Management Company). "Some have seen the establishment of this dedicated organization will sell Sofitel, says Yann Caillère. There have been discussions internally on the future of the luxury hotels in Accor.But in no case was there any question of the sell. "Sofitel, which will be profitable this year, saw sales volume increase by 16% comparable to many hotels from January through August compared to 2009 .

The Old Cataract Aswan opens renovated in 2011

For the first time since 2007, the hotel chain then grows again, even if some closures are planned fast cash. By the end of the year, two Sofitel to open in Vienna more than one: one in Mauritius and one in China, in Guangzhou, which will be the 23rd country in the Sofitel. A first Sofitel to open in Bahrain in January 2011, followed by another at Mumbai (India). As in all Sofitel, the Hermes soaps will be signed in suites and uniforms Jean-Louis Scherrer. In Mauritius, the artistic direction was entrusted to Kenzo Takada. "Four years ago, he would have hesitated.This is not the case ", says Yann Caillère, determined to find new addresses for Sofitel emblematic.

The legendary Old Cataract Aswan (Egypt) will reopen in the first quarter of 2011 after renovation. This is one of eight Sofitel Legend chain-cream-cream, with the Metropole Hanoi in particular. "We lack a hotel in Paris of legend, worthy of a palace," says Yann Caillère. Several years ago, we studied the acquisition of Lutetia and the Prince of Wales. Today, the renewal of the walls of luxury hotels do not interest us, but we are always ready to manage landmark hotels in Paris and New York or London. "

In all cases, this development will cost far less, Sofitel deploying an asset-light strategy, which is to deal only with the hotel management without investing in real estate.Today, Accor is already more than two dozen owner of Sofitel. His goal is not to possess any wall Sofitel.

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Slowly but surely. The thorny issue of rebalancing of power within the International Monetary Fund (IMF) should soon be resolved. That, in any case, hope Sakong Il, chairman of the committee in charge of organizing the G20 in Seoul on 11 and 12 November. On the sidelines of a visit to Paris on Friday the South Korean official said that the agreement announced at last year's G20 summit in Pittsburgh, United States, should be endorsed at a summit in Seoul, South Korea.

At their summit in Pittsburgh, the G20 has agreed to transfer 5% of the voting rights of "developed" countries to "underrepresented," such as China, India and Brazil. "This must be done, there is the credibility of the G20," said South Korean official at the International Herald Tribune.Today, developed countries hold 57% of votes within the IMF, against 43% in emerging countries. The Europeans weigh 32% of votes (by adding those of Twenty-Seven), and the United States for 17%.

The reform, which should give emerging countries a greater weight in accordance with their economic performance, should logically lead to a waltz of seats on the board of directors of the IMF, which must be renewed on 1 November. And this reorganization is not welcomed by everyone. The United States put pressure on Europe to cede some of its nine seats (out of 24 that has the board) low interest rate personal loans.

US-European tensions

Last month, U.S. Treasury Secretary Timothy Geithner has threatened not to support the continuation of the exemption by which, since 1992, the Board of Directors of the IMF to have 24 seats.However, the statutes of the international organization provides 20 seats. "The basic problem is that Europeans are overrepresented relative to the size of their economies," said political scientist Mark S. Copelovitchdans New York Times.

For their part, Europeans are pointing the finger at the right of veto of the United States, the only country able to block any major decision, with 17% of votes. Indeed, a decision must collect 85% of votes to be approved by the board of IMF. "The discussion around the U.S. veto will be continued at future summits," he said Sakong, while admitting that the issue was not "officially on the agenda" at the Seoul summit. This does not prevent the South Korean official to be confident about the outcome of the forthcoming summit. Whatever happens, he said "well someone has to make concessions.

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Employees of the champagne house Piper-Heidsieck in Reims on Friday began an indefinite strike to protest the conditions of application of a social plan affecting a quarter of the workforce, according to a union source quoted by Agence France Presse (AFP) .

In February, citing a decline of 42% of its turnover since March 2009, management of Piper-Heidsieck has announced it will cut 45 jobs, mainly in production of the 160 that make up the champagne.

"The sprawl of management proposes voluntary redundancies until 2013 against a wage freeze and a freeze of stakeholders. That's blackmail to maintain employment unacceptable, "says Patrick Leroy, Secretary General of the CGT union champagne. He continued: "Experience shows that when employees waive their benefits, they are still dismissed.

From midnight on Friday, the college labor, composed of about 80 people, blocking the production site of Piper-Heidsieck in Reims, while the harvest has just started in the vineyards of Champagne. Approached by AFP, management was unavailable early Friday afternoon.

Champagne Piper-Heidsieck, which since 1988 belongs to the group Remy Cointreau, operates an area of 65 hectares of vines with a production of 9,000,000 bottles (80% for export). Its turnover in 2009 was 138 million euros.

(With AFP)

The U.S. stock market should be reluctant to take on leadership Wednesday. The index futures are predicting a slightly lower opening on Wall Street indices. The index futures Standard & Poor's 500 and Nasdaq 100 symbolically retreating from 0.35% to 1919.25 points and 1111.90 points to 0.17%. Tuesday, after four sessions of gains, U.S. indices ended in a disorganized. At the close, the Dow Jones lost 0.17% at 10,526 points and the S & P 500 0.07% to 1121 points. In contrast, the Nasdaq gained 0.18% to finish the session at 2290 points.

On currency markets, the euro enjoy the excitement of the markets on the continent and still grazes on Wednesday the $ 1.30 mark. While the yen climbed to new highs each day, the Japanese government decided to massively sell the yen, the first in six years.Shortly after, the dollar has fallen over the symbolic 85 yen.

On the macroeconomic front, investors await including industrial production in the U.S. (16 hours). For specialists Aurel BGC, this statistic looks mixed with a sharp decline in auto production, but the first regional survey on the month of September, could be more positive, as indicated in the "Beige Book" released by the Fed last week. The indicator light of the weekend will be the publication of preliminary results of the survey by the University of Michigan on consumer confidence, which should improve slightly on the first days of September.

The side of values, Best Buy, the leading distributor of electronic goods in the United States, announced a profit of $ 254 million, or 60 cents per share against 44 cents expected.Turnover was up to 11.34 billion against $ 11.6 billion expected.

Always on the side of values, Cisco has 40 billion cash has announced the establishment of a regular payment of dividend. The action could therefore offer a yield of 1 to 2%.

For his part specialist payment cards and Mastercard credit also treats its shareholders. The group announced the establishment of a share buyback of $ 1 billion.

Also note, the U.S. administration does not continue the oil company BP under the U.S. law on clean water, allowing him to claim at least 1100 dollars per barrel. This amount can even be nearly quadrupled to 4300 dollars per barrel if BP is found guilty of "negligence" or "deliberate act of malfeasance."The bill would climb to more than $ 5 billion.

Rental would she forgotten the great government buildings policy? The CLVL, national consumer association, is convinced. While Nicolas Sarkozy on Tuesday presented its new plan of home ownership, the association publishes its annual survey of rental housing. Conclusion: rents rose twice as fast as the cost of living. What drives the association to demand a rent freeze for 2011, "without the possibility of catching on in subsequent years."

In detail, the CLCV reported an increase of 1.36% of average rents in the social sector, while the departmental guidelines recommend a maximum increase of 1%. This phenomenon relates to two-thirds of donors (65.46% of them). Some of them even impose up 5% to 10% of rents.The largest increase was observed in the Burgundy region (2.80%) and lowest in Guadeloupe (+0.32%).

In the private sector, "the situation is even more alarming," according to CLCV. Based on 2009 data, the association points to a rent increase "on average well above the increase in consumer prices (1.1%)" last year, "up to 3.3% average in Paris, 2.9% in suburbs and 2% in the provinces. "

Solvency

According to the study, the increase in rents in addition to increases in charges: 15% jump in gas prices since the beginning of the year ("the number of cuts being increased from 6,000 in 2008 to 60 Same day payday loans .000 for the first five months of 2010), higher prices of electricity and fuel oil. A financial situation that is "hardly tenable for tenants.

CLCV announces that "500,000 households would submit unpaid two months or more, an increase of 96% over 4 years in the private park, and 58% in the public park."

"Resolving the crisis"

The association is also concerned about the announcement last July by Baroin, budget minister, to introduce a levy on housing bodies of 340 million euros per year between 2011 and 2013. The minister had suggested the project of a 2% tax on the ground rents to offset the decline in participation in state building aid.

According to the association, this method "will not solve the housing crisis. The announcement would be to make payments available from agencies who are saving to build public housing in the geographical areas lacking social housing.It must be remembered that the financial reserves have been established and punctured through rents and should benefit them. "

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