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LE FIGARO. – The resolutions of the last summit fizzled, Spain and Italy border on the financial strangulation, the Euro back into turmoil. You chairing the Eurogroup until the end of the year. Five crucial months?

Jean-Claude Juncker. – The coming months will be tense. We live under the dictatorship of the short-sighted. Leaders are forced to react to everything, all the time, in a firework that has nothing to do with the thickness of the real issues. It does give more time to think. I submit that the markets are wrong today, as they have always deceived: heavily. For ten years they have been led to believe that Greece was financially as well as Germany! The crisis will prove that those who reacted in a calm and serenity, not to those who followed the follies and heresies of the time

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What are the decisions?

The euro area is at this point where she must prove by all means its resolve to ensure stability. The world speaks of the common currency as if it had more than a few months. In Europe, we have the euro! No one should doubt the collective will of the seventeen countries. Nobody should think that politics is a hollow word.

It will save there in Greece?

Those who believe that an outflow of Greece solve the problem are wrong. They do not understand the root causes of the crisis. Greece must surely improve his report card. But nobody can ignore the enormity of the cost of exclusion for the rest of the class, whether the shock wave or the discredit that follows. Everything else is playing politics.

Spain is for emergencies. The Eurogroup there a solution?

We have already addressed the problem, quickly and well. Spain to consolidate its public finances and reform, all the European leaders will tell you. Our aim is now to separate state and risk of bank risk. Up to 100 billion euros set aside to bring the Spanish banks in calmer waters. The matter will be resolved. We're not going to kneel before the fake doctors markets. This also applies to Italy.

The Spanish treasure runs asphyxia: 7%, the interest charge neutralizes the effect of budget savings. What is the remedy?

Rates subside since the ECB president, Mario Draghi, said, wisely, that everything will be done to protect the euro. In terms of acting, we decide to examine the markets in the next few days. There is more time to lose.

The summit of the euro on 29 June wrote the prescription: purchases of government bonds by the bailout fund on the secondary market, in conjunction with the ECB. Is it true that Germany and France resisted getting impatient?

I have no doubt that decisions taken at the summit will be applied. We arrived at a crucial point. But it remains to specify the rate and extent. We will act together with the ECB, without affecting its independence. When I say "we", it is the EFSF bailout fund, that is to say, seventeen governments. I do not whet the appetite of the markets, but as was said Mario Draghi, this will translate into results.

Relieving rate is a third attempt, after plans Greek, Irish and Portuguese, and Spanish bank bailouts. Treatment changes, nothing arranges?

We respond to contagion. Investors and rating agencies should stop thinking that there is a series of short-term problems. All countries in the euro area are now cutting their deficits and consolidate their finances. This is exactly what the markets wanted a few months ago, but they apparently forgot!

Why markets do they have more confidence in the ECB only seventeen governments of the euro?

The credibility of the ECB is surely higher than that of the European political class. This is not the problem of the bank, but the politicians. The ECB is independent, it does not take its instructions from the governments and it did not reconcile their views. If the bank is expressed and that markets react well, it suits me perfectly. And believe me, the Chairman Draghi said aloud that government leaders are thinking.

Spain pays Does the cacophony of the countries of the euro?

After each summit, the presidents, ministers and other worship explanations of domestic policy decisions that transcend borders. So, they end up betraying the spirit of Europe. This is often silly and sometimes downright harmful. A question among others: how can Germany afford to domestic politics on the backs of the euro? If the sixteen other countries did the same, what would remain of the joint? The euro area is it more a branch of the Federal Republic?

Is this true also for France?

In Germany, opinion has spread that President Francois Hollande is a spender and indecisive, a denial of recovery in some way. In France, it's Angela Merkel passes for a "Euro-individualistic." I know them both, I talk all the time. These simple ideas can strike in domestic politics. But they are false.

Next year, Wolfgang Schäuble will he your successor as head of the Eurogroup?

The German minister seems to have all the qualities required. It is not the only, but could do so without problem. We need a real European finance minister, has a veto power over national budgets

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And who will control the keeper?

This is a serious problem of national sovereignty and democratic accountability. I find it hard to imagine the French National Assembly accepts unquestioningly edicts of a pharmacy in Brussels. We must think about a real process of legitimation of the head of the Eurogroup. Nobody knows the answer and the question remains in the plan.

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In Ipswich, a town in south east England, the inhabitants had their evening of July 25 perturbed by a singular event. In the city center, a distributor of the Lloyds TSB bank suddenly began to distribute twice the amount requested.

With word of mouth, the new course does not take long to spread. A dense crowd is gathered outside the generous distributor. According to local daily Ipwich Star, about thirty people have benefited from the favors of the machine.

Soon the police arrived on the scene to disperse the crowd, while technicians put the machine out of service. On the social network Twitter, someone quipped on the generosity of the bank, "it's chic to see a bank that pays!"

Presence of a computer virus "very unlikely"

This type of situation has never occurred in France and a French bank high quality business cards. For Jean-Marc Bornet, director of the organization Bank Card, "all indications are that this is a simple bug, whose exact causes remain to be determined." ……. .

Jean-Marc Bornet also emphasizes that it is "very unlikely" that the anomalous behavior of the distributor is linked to a virus or malware. "You can not compare with internet banking networks for example, which is a huge open network. Banking networks are private and very secure. It seems to me impossible that a hacker has managed to enter the system precisely this distributor. "

LE FIGARO. – How long Spain and Italy can they take unaided with borrowing rates so high?

Nicholas Spiro fast payday loans.

Germany was quick to respond to the threat on Monday launched its AAA by Moody's. Soon after lowering the perspective of its debt rating, as well as Luxembourg and the Netherlands, by the rating agency, the German Ministry of Finance pointed out that "the risks in the euro area mentioned by the rating agency are not new. " Berlin adds that the diagnosis of Moody's "puts forward the above short-term risks, while the prospects for long-term stabilization are not mentioned." The ministry said that "the euro area has set in motion a series of measures that should lead to a lasting stabilization of the area."

The Department also believes that "Germany will continue to function as an anchor of stability in the euro area." He recalls that the country "is in a solid economic and financial situation" with a budget expected to breakeven in 2014. Berlin adds that "the capitalization of the banking sector has improved significantly" and that "the growth prospects of the German economy are strong." "On international financial markets, confidence in Germany is high, this is reflected in the low rate refinancing of German bonds," insists the Ministry.

Moody's lowered into effect last night from "stable" to "negative" its outlook for the debt of Germany, the Netherlands and Luxembourg due to "increased uncertainty" about the outcome of the crisis debt in the eurozone and the impact "of an output of Greece to the euro," deemed "increasingly likely". The agency reserves in the coming months and the possibility of degrading the AAA of Germany, the Netherlands and Luxembourg. Moody's had placed France and Austria on negative watch LE13 February. The question is whether the threats of the agency will be implemented.

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According to Kantar Media Institute, the growth of gross investments (excluding negotiations and decreasing) in the media is 1.2% over the period, weighed down by a very bad month of May and by the caution of advertisers. The total investment is around 14 billion euros gross.

"With the elections and the many public holidays, the second quarter has clearly slowed down, down 0.3%, says Corinne in Albon, marketing director of advertising division of Kantar Media France. All sectors have withdrawn in May, directing all media down. But the return to growth in June was allowed to finish the quarter at equilibrium. "

Two media were able to hold their own in the game television, first, that, thanks to the dynamism of the new DTT channels, ended the period up 4.6% to 4.8 billion euros Gross. Radio, then, which has benefited a lot of advertising pressure distributors and manufacturers. The media loop period on a 3.6%, with just over 2 billion euros gross invested. Stations as general music benefited in the second quarter of revenue were, in contrast to all other media, higher than in the beginning of the year. Surprisingly, the display on the Internet (banners and videos) operates in six months at levels below, at 1.9%. "This media is now following market trends as it has integrated media plans of advertisers," says Corinne in Albon, which states that these figures do not include PPC (paid search).

A two-sector divests

For the press, the second value in media after television, the situation tends. Over the half, the advertising investments fell by 1.1% in value and 4.6% by volume of pagination. Magazines, stable in value, are better than newspapers, which are down 4.6%. A cons-performance is partly explained by the substantial withdrawal of banking and insurance sectors and services. The display has also suffered, with gross investment decreased by 7.3% over the period, adversely affected by the divestment of distributors. This is the only media that has lost value every month since January.

Of all media, a sector of advertisers on two reduced its advertising spending. Retailers, automakers and fashion have supported the market, while telecommunications (including Orange and SFR), the food, culture, leisure and bancassurance are cutting investment.  

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Ramadan, set to begin at the end of the week is a period of fasting but also consumer for practicing Muslims. "The carriage by a family that Ramadan increases by 30%," says Abbas Bendali, director of research firm specializing Solis. This market is estimated at 350 million euros this year. A boon for retailers who rely enjoy it this time targeting these consumers directly.

Carrefour has decided to terminate its communication bypassed the "flavors of the Orient" to speak more candidly to Muslims through a catalog of 25 pages. "This year, Carrefour wanted a communication simpler and more direct, which is why Carrefour has chosen to name this catalog" Special Ramadan. Discover many flavors, '"says the group. This communication will be visible in many stores, especially around Paris, Lyon and Marseille.

For its part, Casino (Géant Casino and Leader Price, Franprix …) has planned to issue 6 million copies of a special catalog as well as in-store advertising high risk personal loans. "Our leaflets are called" Ramadan "long, while many of our competitors have gotten in this year. We have been pioneers on the subject with our brand of halal Wassila, "says the group Saint Etienne. "Our customer base has led us to develop a range of halal products, which now also covers complete snacking."

The strategy is different from Auchan, which simply provides a "launch operations" oriental flavor "with an offer specific products in most stores," says a spokesman. The word "Ramadan" will not appear specifically "because these are products that meet our customers during Ramadan but may also be interested in others," he adds. U system, more present in rural areas than in major cities, does not provide more specific communication operation.

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A 49% increase in nine years of the electricity bill of French households. This is one of the points in the report of the investigating committee of the Senate on the actual cost of electricity has not divided the parliament. Echoing the forecast of the CRE (Commission for Energy Regulation), Senators recall that the annual bill of a "typical household" equipped with electric heating, no change in consumer behavior, will increase from EUR 874.5 in 2011 to 1307 euros in 2020. And this duty, but including the CSPE (Contribution to the utility electricity) should be multiplied by 2.5 over the period. CSPE finance, among other missions, the development of renewable energy.

Rising prices will be driven by a need for massive investment in networks (cuts have increased in France) and the means of production to satisfy a growing consumer, the higher costs of nuclear costs, and finally the price of development renewables.

The cost of megawatt underestimated

Unusually in Parliament, senators have published an investigative report without vote in the findings: each political group has its own, differing views on the sensitive issue of nuclear costs. As summarized by Wednesday Senator John Desessard ecologist, rapporteur, "electricity is an electrical issue between us." The environmental group had requested in February the creation of this commission of inquiry to extend the report of the Court of Auditors on the cost of the atomic chain. The Senate voluminous document (330 pages plus an appendix of 130 pages) is based on the work of the Court of Auditors but "each group draw from these figures different interpretations."

For Jean Desessard, it is clear from the survey that "the cost of megawatt hour (MWh) of electricity is underestimated French (…) first (because) the cost of nuclear power is higher than previously says. " The Committee noted the figure adopted by the Court of Auditors, 49 no fax payday loan.5 € / MWh, compared to € 42 / MWh apply from 1 January Nome by law already includes the cost of extending power and dismantling . The UMP of the Senate, in its conclusions, points out that this figure of 49.5 € / MWh is challenged, for accounting purposes and method. It also refutes the cost of MWh produced by the EPR under construction at Flamanville, estimated at € 90 MWh by the rapporteur.

But low cost invoice salt in France

Senators agree however that there is much uncertainty about the future cost of nuclear electricity, including related costs of decommissioning. In the "worst case scenario," as John describes Desessard, that is to say, if the upper range of these uncertainties become reality, the cost of nuclear MWh would amount to € 75. Despite these uncertainties, nuclear power is "a historically competitive industry," the report said. It will take three to four years before the PV reaches comparable costs.

The report presents three scenarios for production and electricity demand by 2050. The scenario "sobriety", which will involve "very proactive energy savings" and a quick exit from the nuclear stopping all reactors when they reach their 40 years, is, not surprisingly, the favorite of Green Jean Desessard. But he admits honestly, "it is also more expensive." The Socialist group said in its conclusions that it does not stick.

Finally, a paradoxical observation made unanimously by the members of the committee of inquiry: if France benefits from the current production costs among the lowest in Europe, thanks to nuclear, French households pay the highest bill, largely because of a hexagonal specificity: the weight of electric heating.

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On a sensitive subject for the French that the taxation of overtime, the new majority has at least fumbled. After many twists, households can be certain: Only overtime performed from this summer will be subject to income tax. The draft refiscalisation from 1 January 2012 is canceled. But the precise date of entry into force – August 1 or July 1 – is not yet seated. MEPs will decide Tuesday or Wednesday. Matignon pleads for August 1, Christian Eckert, the rapporteur of the PS budget to the Assembly by 1 July.

This blurring reflects the cacophony that prevailed on the subject in the majority. It all starts Thursday. Christian Eckert Introduces amendment to the draft amending budget in 2012 which subjects the income tax all overtime worked since January 1, 2012. An amendment sought by Bercy, always in search of tax revenue. By taxing overtime performed from 1 January, the Budget Ministry hopes to recover 1.4 billion euros in 2013 (the end of social security exemptions relating it, almost 3 billion). A recipe abundant because the French, who did not know earlier this year that they would be taxed, could choose to "work more to earn more". Problem: these households are fond of overtime especially workers and teachers. With this refiscalisation retroactive to January 1, PS trap middle class. A highlight for a majority want to repeat that tax the rich and big business. The right attack immediately. In a statement Friday, Jean-Francois Cope, Secretary General of the UMP, is "outraged the new blow, the sly and in the greatest disloyalty, the purchasing power of middle class by most left-wing" personal business card.

The debate moved

Suddenly, the debate moved from within the government. During the interview of July 14, Francois Hollande avoided answering the question of retroactivity. Then the day Monday vaudeville turns. The morning on RTL, the Minister responsible for relations with Parliament, Alain Vidal, says the refiscalisation "normally, it is from the time the bill is passed." So up until July. Only problem, but size: the Minister has clearly not taken the trouble to warn Christian Eckert for his statement that changes the game. The deputy heard the news … by journalists. Indeed, Alain Vidal stepped forward because, in the early morning, Matignon has not dealt with a complaint. It will start in the afternoon. Shortly before, Bercy also still defends its own line, stressing that the refiscalisation of overtime from 1 January 2012 was part of the campaign of Francois Hollande. Aware that the retroactivity of the measure will not pass, Christian Eckert deposits to 15 hours a further amendment which taxes the overtime performed on 1 July. Matignon announced a few hours later his first project in August. The Assembly will decide.

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While the Commercial Court of Quimper must decide during the week of July 23 on the resumption of poultry group Doux, June 1 placed in receivership, its leaders disappointed with takeover bids have launched an appeal to the herders. In a letter dated July 13, reproduced by AFP, the Group CEO and his son Charles Sweet, managing director, Jean-Charles Doux, they propose to acquire an interest group.

Since the announcement of the sale of leading poultry, which is staggering under a debt of 430 million euros, twenty takeover candidates had expressed interest. Eleven tenders were ultimately received by the administrators, whose best bid, that of Sofiprotéol, contains only 2400 of 3400 employees of the group. Offerings that current owners do not judge the height. In their letter, they denounced the "ridiculous price" and likely "significant drop in production." The proposed prices for the various sites ranged from one euro to 20 million for the brand Arch Hotel.

A plan known only on October 15

Sweet Charles had already indicated a willingness to open the capital of family (80% stake is held by its members) to industrial partners to prevent its dismantling. This time, it offers to farmers to join a "continuation plan" in exchange for entry into the capital, but the details of which can not "for technical reasons" not to be submitted by October 15. The plan will include a proposal for claims – very important – owned by local breeders. To mitigate some blurring of the proposal, leaders known for their discretion in managing their state in their letter that the adherents to this proposal will "appoint one or more representatives who will have access to all financial information and to participate with us in developing the plan. " They also propose a deadline for the "50% payment of outstanding debts," set no later than September 30, 2012. Date again subject to one condition: that the Commercial Court of Quimper continue the observation period from 30 July to 31 December 2012. "During the observation period, we will pay your benefits in cash," also promises that mail.

As for the future of the business, the Group ensures that its level, especially for export, will be at least equivalent to what it was before. The letter also refers to a "restructuring" of the pole costs (felling and cutting of fresh poultry) while hoping to find the farmers concerned with "a solution that maintains their production."

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The site of Aulnay in Seine-Saint-Denis, where the atmosphere is explosive, he will flare up socially? That's the question that worries both the management and the government, and most unions in the group. All fear that extremist behavior of the CGT conversion threat of Aulnay.

The first statements of Jean-Pierre Mercier, the union representative for the plant, are not likely to reassure them. "Philippe Varin has declared war on us, we will fight him," he stressed, adding that employees would "organize the struggle" which "will start in September short term personal loans." "It is a social bomb, a political bomb, and that, we will use it," he proclaimed, before hundreds of factory workers, saying "do not believe in a conversion of the site."

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