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The French seem to have taken note of the looming recession in the eurozone. Consumer confidence has lost three points from October, to 79 points, INSEE reported. He returned to a level not seen since February 2009, when France was plunged into crisis. Economists did not expect such a decline, on average expected a loss of one point of the indicator.

"The current financial crisis, the second level of rigor and concern about the purchasing power (mainly because of higher diesel prices), explain the fall of the indicator," Analysis Dominique Barbet, an economist at BNP Paribas .

Households are also very pessimistic about their future living standards, which fall 8 points. Since July, this indicator has been awarded 20 points. It is now a record low.

If you have the right amount of money and can lay out a budget that adequately reduces your personal expenses, you can either reduce the amount of your fast loan or drop it altogether.

The atmosphere is gloomy in the Paris Stock Exchange on Wednesday. After opening sharply down, the CAC 40 ceded 0.23% to 2863.30 points at 9:40. Unable to maintain its rebound yesterday, the CAC 40 would be difficult to bounce back following the announcement of a further slowdown in the Chinese economy. Preliminary PMI Manufacturing activity in China, issued by HSBC this morning, recorded in November, its biggest drop since March 2009, to 48 against 51 in October. Below 50, this means a contraction.

The country's dependence on exports is the main cause of this fall, analysts said the bank flexcheck cash advance. China is beginning to feel the impact of the economic downturn of its main European and U.S. clients. To this end, HSBC is lowering the forecast industrial production to 11% or 12% year on year in the months to come (against 13.2% in October).

Both countries, however, block the proper role of the ECB. The German government remains the main obstacle to further action of the European Central Bank in the European market debt. French Prime Minister Francois Fillon acknowledged Tuesday, before the members of his majority, convinced that Germany was "a major difficulty."

World Youth Day 2013 World Cup soccer in 2014 Olympic Games in 2016 … The growing number of events "global" in Rio de Janeiro causes a surge in property prices in the Brazilian megalopolis.

Already supported by economic growth and rising real, the national currency, the real estate skyrocketed. In one year, prices rose 16% on average in the city and over 50% by the sea near the beaches chic Leblon or Ipanema, the price per square meter than 5800 euros. The thrust is so violent that the experts are concerned about the harm of a potential "bubble".

Another phenomenon, more unexpectedly, boosts rents: the "pacification" by the police in the favelas, the former slum houses usually hard.A survey by the Getulio Vargas Foundation shows that in areas where security forces have regained control deal with drug dealers, rent increases of 6.8% is higher than in other parts of Rio, the first year .

The study states that the pursuit of this strategy of pacification would even cause a "catching up" in house prices, which are on average 25% cheaper than elsewhere. Suddenly, the mayor of Rio concerned about the increase of illegal constructions in the favelas.

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Not speak the language of Goethe, which he considers as a language of the past, fewer Alsatians will work in Germany. "If we do nothing to improve the teaching of German, 50 000 jobs are threatened in the next ten years in Alsace," says Alexis Lehmann, head of the Franco-German Foundation Agreement (Fefa). In his view, the neglect of German in Alsace is compounded by the decline in the regional dialect.

"The dialect is in free fall, it is no longer practiced by the young and in urban areas," says Alexis Lehmann. The "dialect" of Alsace, which Germany is considered the writing, has long allowed the Alsatians to find jobs across the Rhine."The regional had in Germany ( no fax payday loans…) the reputation of being a reliable workforce and disciplined." Of course, the consequences of this decline are difficult to quantify, but a study by the Institute believes that Euro- There were 10,000 French border over ten years ago the Rhine. It is time to take the case to round the body: 8% of the labor force works in Alsace Germany. But perhaps he will also boost the learning of dialect family in the evening by the fire to fight against unemployment in Alsace.

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Focus on Asia

At a time when academic trips abroad have become common, difficult now to be confined to conventional horizons. Result, the student takes transhumance paths atypical. Foremost among these new destinations, Asia captive. "The economic environment, business needs … It speaks only of Asia, it creates envy," said Thomas Albertini, of Worldiploma.

Large schools, the first, understood the importance of the land of the future. "We must be lucid. During their career, my students have to work one day either with a company in Asia, "insists Patrice Houdayer, School of Management (EM) of Lyon. So much so that, like others, the school opened a campus there, in this case in Shanghai. With Erasmus Mundus, universities have caught the trend of flight."20% of masters and doctoral degrees involving a French university has an Asian partner," Preciset to be Agence Europe Education Formation fast cash. Seven hundred in Japan, 600 in 6300 in Singapore or China …

If those who leave the Anglo-Saxon or European are still rare birds, their number is growing. According to the Conference of Grandes Ecoles, the number of students going to China grew by nearly 300 in two years. Access to these separate education systems is not always easy, but by dint of effort, local officials encourage this trend. "The number of programs in English, their quality and attitude of the speakers show increasing efforts" says Julien Bohdanowicz, the School of Mines. Le Figaro Magazine has identified four destinations for the future.

• Japan

Many agreements have been realized between our two countries, such as those between HEC and ESSEC to Keio.

The euro still waiting 72 hours for his fate. At an EU summit which took the warm-up lap, Nicolas Sarkozy and Angela Merkel Sunday near their positions on the fateful question of European bailout fund and its clout in the marketplace. But, at the repeated request of Germany, the final decision will be taken until the night of Wednesday to Thursday, after another crisis conclave convened in Brussels.

The president spoke Sunday night "a fairly broad agreement" on a platform of shared press conference with Angela Merkel. He especially made a decisive step towards the Chancellor, itself buttressed in his refusal to see the European Central Bank refinance long-term debt of countries like Spain or Italy. "The ECB is independent and we hold as much as Germany, Nicolas Sarkozy assured.No solution is viable that would not guarantee that independence. "

Credibility of the euro

Satisfied, Angela Merkel took note clearly stating that the bailout fund leverage its resources without further contribution of the states of the euro, or use means unlimited in principle of the ECB. With leverage, the EFSF – now with 440 billion euros – could see his strike force raised in 1000 or € 1500 billion.

To achieve this, Paris and Berlin are close to agreeing on a device with double trigger, say well-placed sources. First a direct guarantee from the EFSF, which would provide the investor when issuing new loans by the States financially fragile. Then a support fund or regulation, which would occur in the secondary market debt securities.The fund, which also benefited from a bond of EFSF, should attract private investors or sovereign-related, for example, China, Brazil and the oil nations.

Skeptical markets, the credibility of the euro and the "firewall" planned in Paris and Berlin also depends on economic and fiscal discipline strengthened. The spectrum of a Italian slippage has haunted the tops of variable geometry and ministerial appointments of the weekend in Brussels. Sunday morning, Angela Merkel and Nicolas Sarkozy have the message in private to Silvio Berlusconi, hoping to prevent the crisis from spreading to boot before the euro has built its new defenses.

Signs of impatience

Publicly, Angela Merkel asked the head of the Italian government to reduce its debt "in a credible way."Confidence, she says, "can not be won solely by financial wall (…) Italy must live up to its responsibilities." Nicolas Sarkozy went further: "There is no question of using Solidarity partners if those we help are not their own efforts. "

The Europeans must disclose in the middle of the week their response "global" to the crisis of the euro and the contagion of debt. The most urgent need is to stabilize the situation in Greece, over-indebted and recession. If they agree to continue to financially assist the Papandreou government, heads of state and government have yet to accept the creditor banks at a discount of 50% on Greek bonds. Germany and especially France overlooking the front of the signs of impatience.Addressing the banks, Nicolas Sarkozy launched: it returns "to each to take responsibility to avoid catastrophe."

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The Paris Bourse is a timid step forward on Friday. The CAC 40 in advance of 0.70% in early trade at 3,108.55 points. As in Asia, investors should not take risks when to begin a crucial summit on the debt crisis this weekend. Paris and Berlin have announced that Nicolas Sarkozy and Angela Merkel would meet Saturday in Brussels to prepare an "ambitious and comprehensive response" to the crisis. Concrete measures will be considered and discussed before being taken Sunday during a second peak "no later than Wednesday."

It will then not only to agree on how to increase the capacity of the European Financial Stability Fund (EFSF), but also to review the new rescue plan for Greece.Both countries such as requiring "immediate negotiations" engage with the private sector "to reach an agreement to strengthen the sustainability" of the Greek debt.

Risk of falling

But observers note that deep differences persist between France and Germany on how to reform the fund to support the euro area (EFSF). "There is no joint proposal" European at the moment, acknowledged Thursday the German Finance Minister Wolfgang Schäuble. The President of the European Commission Jose Manuel Barroso called on Europeans to "compromise" to reach decisions "resolved" and "immediate."

Another failure could undermine investor confidence definitely in the ability of Europeans to put an end to the debt crisis and put in a difficult position for the G20 summit in early November."If no agreement is reached, a crisis such as that caused by the collapse of Lehman Brothers can not be excluded," noted Phil Flynn of PFG Best Research.

Meanwhile, in Greece, the violent protests anti-austerity continues. A new law has been de rigueur in the Greek Parliament voted Thursday.

The French note monitored

France, in the heart of negotiations on the future of the euro, in turn, is increasingly monitored by rating agencies. After Moody's, S & P raised doubts about the AAA rating of the long-term debt of the Hexagon. The agency suggests a probable degradation of notes France, Spain, Italy, Ireland and Portugal according to economic conditions.

The government is preparing for his part, revising downwards its growth forecast for 2012 still set at 1.75%.Economists on average expect a GDP growth of 0.9% in 2012.

On the currency side, the euro has stabilized at 1.3795 dollar. Oil prices were, themselves, up in early trade Friday morning in Asia, following the announcement of the death of former Libyan leader Muammar Gaddafi payday advance.The barrel of "light sweet crude" for December delivery gained 71 cents to 86.78 dollars on the New York Mercantile Exchange while in London, a barrel of Brent North Sea crude for December delivery was appreciating eight cents to 109.84 dollars on the Intercontinental Exchange (ICE).

Values ​​to follow

Banks

Member States of the European Union agreed Thursday to recapitalize their banks to the tune of 100 billion euros.

Essilor (-0.39% to 50.75 euros)

The world leader in ophthalmic lenses achieved a growth of 6.4% of its sales in the third quarter 2011 to 1.04 billion euros.The group also confirmed its target for 2011 growth of its business "between 6% and 8%" at constant exchange rates and strategic acquisitions, and its goal of stability margin excluding strategic acquisitions.

Safran (-6.90% to 22.47 euros)

The group confirmed its targets for 2011. It aims for 2011 growth of around 6% to 9% of its revenues and 25 to 30% of its operating income. Safran has seen its turnover increase from 5.2% to 2.72 billion euros in third quarter

Valeo (1.61% to 34.16 euros)

The group reported a turnover up 14% in the third quarter to 2.6 billion euros and confirmed its operating margin target for 2011.

Klépierre (1.21% to 21.68 euros)

The group reported a growth of 4.9% of its sales in the third quarter, supported by the increase in rents shopping centers.

France Telecom (0.52% to 12.68 euros)

Orange will acquire 100% of the mobile operator CTC (China Telecom Congo) in the Democratic Republic of Congo, the French group paying $ 10 million (7.3 million) to ZTE for its 51% of CTC and 7 million dollars to the Congolese government for the balance.

Peter and Vanaces (-4.44% to 29.12 euros)

The group reported Thursday a 2010-2011 annual turnover of 1.47 billion euros, up 11.2% on a comparable basis.Solely on the fourth quarter of fiscal year, ended Sept. 30.

Etam Développement (-1.88% to 13.60 euros)

The group released Thursday a quarterly revenue of 269.4 million euros, down 10.7% on a comparbale and constant exchange rates.

OL Group (-0.23% to 4.42 euros)

The group announced Thursday it had reduced its net loss to EUR 28 million for the year ended June 30, against 35.6 million a year ago and have returned to a positive EBITDA (8 , 9 million) "despite a very mixed season in sport."

Faced with the fear of a general banking collapse, the Franco-German couple is once again under the spotlight. And once again, things are not simple. Nicolas Sarkozy will be tomorrow in the German capital to "speed up" with Angela Merkel the implementation of the bailout of a Euro still full turbulence. The urgent need for the French president and German chancellor, is to flatten their differences on the use of the European Financial Stability Fund (EFSF) and reach a tentative agreement on the thorny issue of the recapitalization of banks.

Angela Merkel ruled Thursday that "there was a need to recapitalize, it would be reasonable to invest money" in terms of what could cost an emergency rescue industry.But she insists on the fact that the Fund will be used to bail out financial institutions on the condition that states can not themselves "to support the recapitalization of their banks' and it puts" endangered the euro area as a whole. "

In fact, Paris Berlin suspected of wanting to directly use the emergency fund to recapitalize banks weakened by the prospect of a debt reduction Greek. "The French have misunderstood the EFSF, decrypts it does in Berlin. Our position is that banks must first seek funding markets, and the side of the national public authorities. Only when there is no money available comes the European level. The EFSF is a tool for countries like Greece or Portugal.If a country like France – among the strongest financially of the euro area – wants to appeal, then this is the door open for all members of the area had ro dig into the fund. "

Berlin suspects Paris

An over-interpretation, says it does on the French side. "We have not yet begun to discuss that!" Do we wonder at the Elysee. At Bercy, it ensures not see fundamental differences with Berlin. "We agree with Germany, said the entourage of the Minister of Economy, Baroin, the fact that more capital into banks, including French," even if only to meet new international standards of Basel III in 2013.Whenever possible, the French banks also plan to comply with without recourse to the capital, let alone the U.S. – by separating certain activities if necessary, by distributing fewer profits to build equity .

But if there had to be re-capitalization, especially to reassure investors, "the sources must first be private," insists one at Bercy. "Ultimately, this should be to rely on injections of public capital." According to Paris, "a European coordination is essential to determine the amount of capital to meet the deadline by which this capital is to be achieved, and the tools for that. " It is on these criteria that France and Germany could agree this weekend.For its part, Brussels will make proposals for a coordinated recapitalization "in the coming days."

Moreover, given the deepening crisis, Angela Merkel has gradually accepted the idea of ​​economic governance of the European Union, defended by Nicolas Sarkozy. Expanding the powers of EFSF part of this process. However, the Chancellor – who imposed hard fought his troops to ratify the Bundestag building – is faced with a majority crossed by a strong current Eurosceptic.

Markets would also like to know more about the technical means to leverage the clout of EFSF. These contain the spread of the crisis heavyweight like Italy, Spain, and Portugal, while the levees are still weak.Should we go further and erase a more substantial part of the Greek debt? Should we consider that the Fund provides guarantees? The German finance minister, Wolfgang Schäuble, at least possible that Germany spends more money than EFSF the 211 billion passed by the Bundestag.

These tensions, it is now the standard mode of operation between Paris and Berlin. Pressure mounts on both sides of the Rhine, until a compromise emerges in a head-to-head at the highest level. Given their respective domestic political weakness or Merkel or Sarkozy can not afford a failure.

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Clara Gaymard is president of General Electric France since 2006. Created in the late nineteenth century, GE is one of the largest industrial and financial in the world. In France, it employs 9,800 people, including 1,000 researchers, mainly in industry. The conglomerate Safran is associated with the production of aircraft engines. It is present in the turbine manufacturing, health and energy. In early March, GE has spent $ 3.2 billion offer for the French industrial Converteam, a leading equipment ETDE electrification systems and automation. In an uncertain economic environment, Clara Gaymard called for a mobilization in favor of industry.

LE FIGARO. -Do you see the first signs of a slowdown in your business in France?

Clara Gaymard. We fear-of course this slowdown.Some of our long-cycle industrial activities have been impacted over the last year and the first months of this year, but we rely on large export orders, which is our real market to resume growth the image of the first decade of the twenty-first century. What is certain is that at the end of this summer we have not seen any damage from the crisis.

How do the American leaders of General Electric they are on this crisis that threatens the euro area?

Europe and France are more complicated enough to understand given the United States. Decisions, including their political dimension, are difficult to grasp. Europe has been built on a desire for peace and a desire for economic growth and maintaining financial stability.At each crisis, France and Germany have strengthened their ties and Americans do not see it right away. Each time this has been beneficial in terms of governance. This will likely be the case today. For U.S. companies General Electric and especially, Europe is and remains a very important partner, because of market size, its capacity for innovation. Europe is the other foot in America.

General Electric is located in Europe. How do you explain that French industry losing ground vis-à-vis the German industry?

France lost the competitive advantage it enjoyed a decade ago. Germany under Gerhard Schröder was able to launch reforms that the country now takes profit.France has certainly taken some important decisions including the pension reform or investment for the future, but economic time, however, longer than the political time. The results are not yet visible. The acquisition of Converteam and our investment choices in 2011 show that we believe the industry in France.

What is it fundamental to a country to have a strong industry?

Just because you can not say that you will create products for the future in France, invest in R & D, if you do not file business card design. Value creation is first material. We are convinced at General Electric. That's why we have three major industrial centers in France and soon a fourth with the acquisition of Converteam. I've always registered against the false idea that a mature country must move from agriculture to industry and industry services.I find that attitudes are changing at last, the industry returned to the heart of the economic debate.

How can we stop the deindustrialization?

We must choose its areas of excellence. In the 1980s, France has relied on nuclear power, aerospace and high-speed train by taking risks. Since there was no real industrial policy. They pay today. So we have to make choices. For example, Germany and England have the wind power, General Electric is investing heavily in these sectors in these countries. We believe in the sun. By 2030, this energy could be as competitive as petroleum. Again, General Electric will focus on the countries able to advance this issue. Companies always settled in favor of an ecosystem.

The cost of labor is there a real problem in France?

It is often put forward but not the major issue for me. It's more flexibility. France is the only country where changes in conditions or work organization decided by a company legally take at least six months even if all parties agree. This period creates social tensions sometimes unnecessary. The organization of social dialogue is an obstacle to transparency. Another handicap: taxation. We have a taste for complexity and retroactivity. The comparisons are always against us. Overseas, the plate is wide and the level of taxation lower. In France, the plate becomes smaller, the tax rate higher, but there are many exceptions. France has a display unfavorable tax and payroll. Nevertheless, it is possible to develop and invest in France.We have shown through the three large industrial sites that we have acquired, their sales were multiplied by three or four. And if we take the example of Belfort, it was losing money, it is now profitable. Moreover, on this site in Belfort, we have advanced in terms of qualifications our staff. Their wages were also appreciated.

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The question of the succession of Yves Carcelle, who turns 65 next year, Louis Vuitton, LVMH's flagship brand is a question that torments long time analysts. It's finally out that Bernard Arnault, chairman of luxury group and parent company of Louis Vuitton, has found a rare bird. The lucky winner is a 47-year Spanish, Jordi Constans, the current head of Danone's fresh dairy products. He worked in the group since 1990. He joined Louis Vuitton to discover the group during the year 2012 and succeeding Carcelle early 2013 at the head of the first luxury brand in the world.

Yves Carcelle take over the presidency of the "Louis Vuitton Foundation" which will open in early 2013 to the completion of the project designed by Frank Gehry. He will remain executive committee member of the LVMH group and be responsible for strategic missions to the President of the Group.

Bernard Arnault acknowledges the work of Yves Carcelle which, since 1990, "hosted the extraordinary journey of Louis Vuitton.".