Greece goes into its paradox. Historic cradle of democracy, she is passionate as always in politics, as evidenced by the good turnout in the general election on May 6 (65% of registered voters turned out to vote). But this passion produces no power capable of meeting the challenges of the country.

Alexis Tsipras, the local Mélenchon, which has tripled its electoral score compared to 2009, refused to support a national unity government with Evangelos Venizelos, the leader of PASOK (Socialist), respecting the commitments signed fiscal discipline there are three months. The country has not always of prime minister, while the urgency has never been greater.  

Who will represent Greece at meetings of the Eurogroup and Ecofin Monday, May 14 and Tuesday, May 15? He would need a strong personality to defend with the granting of European partners in June of a $ 8 billion of loans. Who sit behind the flag to cross and blue stripes at the NATO summit in Chicago on May 20? An eloquent negotiator would be welcome if Greece wants to avoid that Westerners endorse the requirement of the Skopje government to appoint his country "Macedonia", to which the Greeks are opposed to historical reasons.

Patronage system

"I am very concerned (…) I appeal to the sense of national responsibility of all political leaders to reach agreement respecting the commitments of the country," said Friday the EU president, Herman Van Rompuy. But, late afternoon, the Greek political class had still not given a name.

Lucas Papademos, the technocrat in charge of the country for three months, went to see the President Karolos Papoulias to ask him to speed up the process of appointing a new prime minister. The former vice president of the European Central Bank is very concerned about the possibility of excluding Greece from the euro area, corroborated by the statements in the press of German Finance Minister Wolfgang Schäuble.

Oddly enough, the Greek population, which according to all polls are still mostly gained against the euro, does not include the requirements of its creditors, or their impatience at the slow pace of structural reforms opaque. "I did not vote for PASOK, this time launching Michalis, independent taxi driver, because it does nothing for my daughter when she has an engineering degree!" ….. …

In the patronage system prevailing since the arrival of the Socialists to power in 1981, there was a right of activists to put their children in the administration. PASOK has fallen from 43% to 13% of the vote between elections of October 2009 and May 6.

"In a country where youth unemployment exceeds 50%, the little people have no sense or do not vote more rationally! Says a Greek financier. The Greeks have lost confidence. Only the Chinese are constantly telling us they believe in long-term potential of the country! "

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The Japanese video game just accused its first loss since its IPO. Nintendo has been hit by a sharp decline in sales of its game console Wii aging room, to 9.8 million units, against 15.1 million for the previous fiscal year, ended March 31, 2011. In addition, sales of handheld 3DS are slightly below expectations at 13.5 million copies. Especially to reach this level of sales, a net reduction in price has been paid on this handheld that broadcasts stereoscopic images without needing to wear glasses. The free 3D has not generated the expected benefits. Instead, it was the source of problems.

In total, sales fell 36% to € 6.4 billion for fiscal year 2011-2012, which just ended. And the operating loss of 37.3 billion yen (370 million) over the period.

Recover the revenue, and return to profitability

Nevertheless, Satoru Iwata, Nintendo's CEO, is betting on a recovery in activity. Performance should not regain their 2010 level, however: the turnover is expected to rise by 26%. In addition, the group is betting on a return to profitability.

The key to the recipe for recovery is called "Wii U", the new generation of console gaming lounge, which combines a touch screen console. It should be presented in its final version in June, at the show E3 video games in Los Angeles. Combined with the lower prices of 3DS allegedly curbed by lower production costs, the group should reach nearly 200 million net profit for the fiscal year that just started.

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Nicolas Sarkozy retorted tit for tat. Questioned Tuesday by Anne Lauvergeon in an interview published by L'Express, the Head of State, on Friday invited to iTV, has applied to meet about the former president of Areva. "All this is of politicking," he judged. "What makes it less credible that Lauvergeon said was that she waited to be put out to challenge a system that she wanted to continue to participate in the first place as president of Areva," Nicolas Sarkozy has argued low fee payday loans.

He also underlined the political commitment of the former CEO, also old Sherpa Mitterrand: "It is now the president of Liberation, with a known commitment to the left". Lauvergeon has headed the supervisory board of the newspaper in July 2011.

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It is an exercise that required this year, just days before the presidential election, takes a turn for controversy. The government on Wednesday presented to the finance committees of the Parliament of the stability program years 2012 to 2016. Designed in Brussels, this document describes how France has reduced to zero by 2016 the cumulative deficit of the state of the social security and local authorities. Consolidation that will reduce gradually the weight of public debt to national wealth in 2014.

To balance its accounts, France must find 115 billion. The government has chosen, policy, to focus the effort on spending two thirds (74 billion) and third on revenue (41 billion). This is the roadmap that Nicolas Sarkozy has taken in its election manifesto. "Just focus on revenue, tax advocate hype as some ignoring the impact it would have on growth, is clearly not a political alternative," says Valérie Pécresse, Minister for the Budget, in an allusion to thinly veiled Francois Hollande.

Indeed, the government does not reduce expenses but limit the increase to 0.4% plus inflation, from 2012 to 2016. The 74 billion is savings compared to the natural drift. "The rise in government spending was 0.3% in 2010 and 0% in 2011, the never-seen since 1960. This shows that our target of 0.4% is credible, "says Valérie Pécresse personal loan for poor credit. To reach it, the government will pursue the course of recent years (knowing also that the reforms already enacted will generate even 39 billion savings in 2016): non-replacement of one out of two official journal of programs for lower government spending, freeze state transfers to local, rising Medicare spending limited to 2.5%.

Optimistic growth forecasts

On the revenue side, Bercy believes that tax increases enacted since late 2010 (on the plane niches, rising 7% VAT …) will generate 33 billion in revenues in 2016. It would be only 8 billion to find. Much less optimistic about the performance measures already adopted, the PS 22 billion talks to find and Nicolas Sarkozy accused of hiding tax increases to voters. Both candidates are fishing perhaps assuming a too strong economic growth (1.75% in 2013 for both, 2% from 2014 in the stability program taken up by Nicolas Sarkozy, Francois Hollande to 2.25%) . But less growth means less revenue and more social spending.

However, Nicolas Sarkozy, unlike Francois Hollande, said the return to balance a priority, regardless of the growth. Francois Hollande and provides a zero deficit in 2017 alone. "We go out of adjustment in 2016, we take a serious risk, if not more," warned Baroin before the Members of the Finance Committee.

]]> http://ecopolhome.com/the-plan-bercy-for-a-zero-deficit-in-2016/feed/ 0 http://ecopolhome.com/accor-45-hotels-in-india-by-2015/ http://ecopolhome.com/accor-45-hotels-in-india-by-2015/#comments Thu, 05 Apr 2012 09:52:07 +0000 admin http://ecopolhome.com/accor-45-hotels-in-india-by-2015/  

At the entrance, the staff welcomes you with a "hello-namaste." In the room, remind you of Paris macarons, but the decor is no doubt: you are in India. At the table, it offers a good curry and burgundy … Welcome to the Sofitel Mumbai KBC, the first hotel brand in India since its move upmarket, which began in 2007. The first stone was laid that year in the new business district of Bombay, near the largest stock of diamonds. The hotel was inaugurated this week. "The biggest challenge in India, the construction time. There are a lot of bureaucracy. We had to ask more than one hundred licenses, "said Robert Gaymer-Jones, CEO Sofitel Worldwide.

The 5-star luxury 302 rooms (first prize $ 250 a night) employing 520 people is to compete with the chains located in Bombay: Indian Taj and the Oberoi, but Four Seasons, Hyatt, Westin and Shangri-Here which opened its first facility in mid-June "There is not enough supply, so there is market share to take," said Denis Hennequin, CEO of Accor, decided to accelerate in India. The group has 15 hotels today and will end the year at 23. We stay away from the expansion in China, where Accor has more than 120 addresses. "There are high barriers to entry into India. Everything takes time. We must find the right partners, "explains Denis Hennequin. Eleven openings are planned this year, with five this month, the first Pullman and Formule 1.

Goal of becoming the first hotel outside India

By 2015, Denis Hennequin is 90 hotels open or under construction and the place of the first international hotel group in India. "This represents a sixty hotels open," says Christian Karaoglanian, managing director of hotel development, which indicates that 30 to 40 million euros are invested annually in India, where the group is developing with local partners. The Sofitel Mumbai represented an investment of about fifteen million euros for Accor, which owns some of the walls. All operations undertaken in India is so far a total of 223 million euros worth of assets of 1.15 billion.

The leading position covered by Denis Hennequin is occupied by Carlson, with 52 hotels. The battle promises to be tight. "We have a very privileged position in India that is the envy said Hubert Joly, CEO of Carlson. We will try to keep it. "The group plans to build 48 hotels and has signed a partnership agreement with the Indian Bestech Hospitalities to open fifty Park Inn by 2024.

But places are to be taken. "There are 150,000 hotel rooms across India, as well as in the city of Shanghai," said Christian Karaoglanian. Accor, the openings will be especially Formula 1, Ibis and Novotel. Sofitel two are scheduled to Bombay with a "So Sofitel" contemporary design. Outside of Bombay, Robert Gaymer-Jones looks as opportunities in Delhi, Bangalore and Goa.

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Electricity bills and fuel have been salted for the month of February. According to INSEE, household consumption has jumped from 3% in February as a result largely of the "sharp increase" of 11.7% in energy costs over the month. Moreover, "the cold snap would boosted purchases of winter clothing," notes INSEE, which noted a 5.7% rebound in apparel purchases, after a fall on the last two months.

This unexpected buoyancy (the market had forecast a rise in consumption of 0.2%) is unlikely to last. For starters, "we expect a drop in energy consumption in March, the weather being much milder than usual," Analysis Dominique Barbet, an economist at BNP Paribas guaranteed personal loan approval. Spending on "durable goods" (household goods, autos) fell slightly in February (-0.7%).

Especially, the prospects are not good. According to the latest survey of consumer sentiment, they do not plan to make major purchases, likely to support consumption, and therefore French growth. Finally, "stagnating incomes suggests that households will not increase their spending significantly," anticipates Alain Carbon, an economist at Natixis.

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One hundred days after his inauguration, Mariano Rajoy faces Thursday its first general strike in Spain. "Hundred Days, hardly!" Are offended tenors of the Popular Party (PP, right), the formation of the head of government. "The strike, finally!" Meet the basics of trade unions, eager to do battle. For the past three months, government and workers' representatives to look into daggers.

In recent weeks, Comisiones Obreras (CCOO) and the Unión General de Trabajadores (UGT), the two largest unions in the country, have organized two events before calling a general strike. The leaders admitted bluntly: it was first to count.

In the crosshairs of unions, labor market reform, adopted by decree on February 9 and described as "extremely aggressive" … by the minister of the economy itself!

Javier Doz, Head of International Relations of CCOO, summarizes the two main objections to the reform: "First, this law flexibilized layoffs and cuts costs. Second, it greatly weakens collective bargaining. "The government says it is to encourage hiring by offering less restrictive labor contracts. The argument is scanned by Doz: "Since the adoption of the decree, unemployment has continued to grow."

"A stroke of genius!"

The executive, in turn, paved the way. A short sentence illustrates this perfectly. It was in Brussels on 31 January. Mariano Rajoy attended his first European Council. Prior to opening the meeting, he met with his Finnish counterpart and brags: "The reform of labor law will cost me a general strike!" Rajoy then displays a satisfied smile. Barely a month after taking office, the standoff between the government and unions had already begun.

"A stroke of genius!" Can not help admiring Pablo López Calle, professor of sociology of work at the Universidad Complutense de Madrid. "It's Rajoy himself who called a general strike! It presents the mobilization as a sign of his political identity, "he decrypts. Proof of its determination, in short.

For unions, in any case, the day will be a test. In a country affected by an unemployment rate of 23%, fear of losing his job well anesthesia claims. For several weeks, unions must also defuse a series of controversies echoed by the conservative press. A leader of UGT, for example, was accused of receiving tens of thousands of dollars from the Caja Madrid, a savings bank the largest in the country. In reality, the money is paid to each member of the Board and shall be returned to the union. "This is a campaign to discredit us," considers Doz, denouncing "personal insults".

The challenges of Spain

Mistrust vis-à-vis trade unions, however, goes beyond the usual political divisions. During the demonstration on 19 February, for example, indignant movement of May 15 had joined the workers' representatives. But these indignados had organized their own parade. "Thanks for coming!" They sang at the CCOO and UGT. One way to criticize the supposed slowness of their response. "¡No representan our" ("They do not represent us!") Cried others, usually reserved for a political slogan.

Conversely, unions are wary of calls from the foot of the Socialist Party (PSOE). The leader of the PSOE, Alfredo Pérez Rubalcaba, does not hide his strategy: "The PP has shown with the bishops (an allusion to the protests against gay marriage or abortion), we, we demonstrate with the unions." These latter, however, still marked by the austerity measures of José Luis Rodríguez Zapatero, the Socialist prime minister post. "In recent events, says Lopez, union leaders have done everything to prevent the Socialists are at the forefront." The Socialists, requinqués by an unexpected election victory last Sunday in Andalusia, intend to transform the test.

Beyond the likely battle between unions and government figures, the point lies elsewhere. Condenses into a general strike the next day challenges of Spain. On the one hand, the government Rajoy wants to kill the rebellion in the bud, establish his austerity program and ensure social peace by force of his majority. The other, the parliamentary opposition and trade union seeks to rise from the ashes.

]]> http://ecopolhome.com/mariano-rajoy-faces-its-first-general-strike/feed/ 0 http://ecopolhome.com/the-gasoline-prices-have-hit-new-records/ http://ecopolhome.com/the-gasoline-prices-have-hit-new-records/#comments Mon, 19 Mar 2012 22:40:10 +0000 admin http://ecopolhome.com/the-gasoline-prices-have-hit-new-records/  

In these times of crisis, fuel prices at the pump are endlessly to climb. New records were achieved in France last week. Diesel, which represents about 80% of fuel sales in France rose to 1.4584 euro per liter, according to weekly surveys posted by the Ministry of Sustainable Development. It has surpassed for the first time his previous record dating from 2008 to 1.4541 euro.

As for gasoline, a liter of unleaded 95 (approximately 15% of French consumption of motor fuels) euro jumped to 1.6451 and that of unleaded 98 (5%) to 1.6883 euro, beating and both of their records dating back to the previous week, respectively 1.6211 and 1.6610 euro euro.

These sales prices at the pump are national averages calculated by the Directorate General for Energy and Climate (DGEC) from data provided by service stations. But they largely already exceed these levels in some places. Thus, the price per liter of MS 95 has already surpassed last week the symbolic threshold of two euros at the pump of a Parisian park payday advance online.

Since late 2011, gasoline prices beat record after record in France, powered by a dual effect of geopolitical tensions in the Middle East that keep crude oil prices at very high levels, and weakening of the euro against the dollar, which boosts the cost of black gold once its converted value in the single currency.

The surge in fuel prices, motorists hitting the portfolio, has elicited numerous comments and proposals from the candidates in the presidential election. The socialist Francois Hollande wants to block temporarily the price of gasoline, as an incumbent President Nicolas Sarkozy has described as "populism" and "demagoguery."

(With agencies)

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Investor sentiment is supported by the information including the Italian newspaper La Stampa over the weekend that the IMF could provide assistance to Italy up to 600 billion if the debt crisis of the countries would increase. This would allow Italy to have a window of 12 to 18 months to implement budget cuts and reforms to strengthen economic growth. The information, which was denied by the United States, is again the IMF itself, which says this morning that no discussions with the Italian authorities have in that place.The worsening financial crisis in the eurozone weighed on the outlook for sovereign debt rating of all European countries, the rating agency warned Monday payday loans lenders.

The oil rises

In this context, the euro is progressing slowly against the greenback. In morning trading, the European currency is worth 1.3310 dollars. Oil is well oriented: a barrel of "light sweet crude" (WTI) for delivery in January of $ 1.63 is assessed at 98.40 dollars on the New York Mercantile Exchange and Brent crude from the sea North for the same maturity is 1.20 dollar to 107.60 dollars on the Intercontinental Exchange in London.

Side of the agenda, the economic outlook of the OECD are expected in the morning. Sales of new homes in the United States will be known in the afternoon.