• On the principle of austerity plan

To: "Rigorous, that means we are trying simply not to spend more than we earn, defended Gilles Carrez (UMP), General Rapporteur of the budget to the National Assembly. This is still the least serious. It's been 35 years since we spend more than you win. "

Cons: Attention Cycle "infernal restraint, lower growth," warned the Socialist Michel Sapin, close to François Hollande.(…) Must be avoided that there is more possibility of moonlighting. "

More broadly, the self-entrepreneurs fear that their services are subject to VAT, which would increase the cost to the customer and complicate their efforts. "If the specific regime of VAT on maintenance, repairs had to be increased from 5.5% to 7% to meet the economic challenges in Europe and that of the euro", the Union of self entrepreneurs ( UAE).

• Taxing more large companies

To: The boss of bosses Laurence Parisot is not opposed to the principle: "It is possible to consider things temporary, exceptional measures, time adjustments. But we must not imagine a device that would be sustainable.

Where are the hundreds of millions of dollars entrusted to MF Global by its customers? Ls market authorities are trying to answer this question since the announcement on Monday of bankruptcy of the U.S. broker. According to sources familiar with the matter cited by the New York Times, nearly $ 950 million would have disappeared from the company's accounts. This amount would be reduced to $ 700 million after the announcement of bankruptcy. "And a certain amount should resurface in the coming days, until the bankruptcy process progresses," says one close to the talks to the newspaper.

The location of this money is currently undetermined fast cash advance. According to sources close to the investigation, it may be that these funds are still held by banks that handle client funds.The group, which peeled the accounts receivable of MF Global, was alarmed by the disappearance of certain funds.

For now, neither the group nor its leader Jon Corzine, are explicitly implicated by the investigation is still in its débuts.Ils refuse to comment on the matter, the newspaper said New York.

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In Athens

"Greece is entering a new era," commented George Papandreou during his press conference in Brussels. The Greek prime minister did not hide his relief in a speech to the nation on Thursday night. Greece was saved at the default. Among the measures adopted at European summits include the release of a new tranche of 100 billion euros and the deletion of 50% Greek debt, "voluntarily" from the private creditors (banks, insurers …). This debt and return to 260 billion euros, its level of 2009. The ambitious program of privatization has also been revised downwards. The objective is to privatize up to 30 billion euros by 2020 instead of 50 billion euros for 2015.

"It will not delay to send us these details," claims Vaggelis Haratsis, CEO of the company financial management Ahepef Beta. Holding a lot of Greek debt, local banks will be hit hard by the discount will be recapitalized and 30 billion to cash in shock payday loans no teletrack. This will involve probably the injection of public capital. "If the banks really are nationalized, it will be the key for several years. In the end, they pay the inability to manage the crisis by politicians, "said Vaggelis Haratsis.

In return for aid to Brussels, Greece has to accept an austerity to 2020 and ongoing monitoring of representatives of the European Union and the International Monetary Fund. Experts to settle in the country to monitor progress with reform and adjust if necessary.Only in this way we can avoid recession and reducing unemployment is at 17%. " It will also quickly overcome the social discontent, motivate the Greeks to return to work, to stop the strikes and occupations of government departments, and not to cheat on their taxes.

As we approach the presidential election, the office humming with political discussions. This highly controversial topic is no longer taboo in French companies. According to a survey Opinionway * conducted on behalf of the editions Tissot, 57% of employees say they discuss political issues with their colleagues. A quarter clearly shows the same opinions.

Few people see it as a sensitive topic. Employees who never raise this issue at work (38% of respondents) said first adopt this attitude of discretion, because they feel that their political views do not watch them. They are only 22% see it as a source of conflict, and 7% fear that their careers will be affected by the opinions they have issued.

However, many employees perceive that the limits are not exceeded.A large majority (60%) judge and moved to a colleague to explain why he should vote for a candidate or party rather than another. Similarly, distributing a leaflet, wear a badge or paste a poster on the politically charged workplace is overwhelmingly considered unacceptable.

If the policy is no longer taboo, employees are also not willing to discuss the subject with anyone. Colleagues are privileged interlocutors. In contrast, only 29% of respondents speak with their political boss, and 15% with customers of their business.

* Poll conducted from September 21 to 29, 2011 among a sample of 1013 employees and officials.

"Testimonials – And you, are you talking about politics at work? Speak your political opinions? Are you afraid to be detrimental to your career? Share your experience in comments below or by email at temoin@lefigaro.fr.

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For the first time since the outbreak of the sovereign debt crisis in Greece, in November 2009, the EU will apply directly to other states and their sovereign wealth funds. Norges Bank Investment Management (NBIM), which manages the Norwegian fund (397.5 billion euros), has already applied for, according to Reuters.

Technically complex and politically inglorious to the extent that members of the euro area rely on foreign savings failing to show solidarity with each other, the project outlined this weekend in Brussels would be a real barrier fire.The strike force "would be the height of Spain and Italy," said Gilles Moec, an economist at Deutsche Bank in London.

The proposed scheme is to leverage both the capabilities of the European Financial Stability Fund (EFSF) and to mobilize capital from financial surplus. First and foremost, China and emerging countries but also in advanced economies such as Norway and Japan. These contribute in trusts, administered primarily by the IMF, which will not put himself in the pot, says we are.

The highlight of his EFSF 440 billion euros, which have been entrusted by the countries of the euro area – the envelope will remain unchanged – no longer be content to make its guarantee to the issuance of securities, as it has already done for Ireland and Portugal.It will also play the role of "credit enhancer," according to a model used in the United States, for better or for worse, for local authorities and housing loans. This type of intervention will return to ensure a certain percentage of potential losses to purchasers of government securities guaranteed payday loan. A new role for the EFSF: "He was supposed to guarantee loans, it would ensure ex post losses," said Bruno Cavalier, economist at Oddo Securities.

Assembly at several levels

Klaus Regling, the director of EFSF, was responsible for establishing an assembly at several levels in order to create a maximum leverage. According to the recipe holdings cascade in private groups.

On one level will be set up special funds supplied in part by the EFSF, which would bring its security, and other states.On a second level, you will find a special fund involving purely European private capital, always with the guarantee of EFSF. A third channel is considered, on the same principle, but this time shareholders will be provided by non-European states, in a "trust" administered by the IMF – what others call a "special investment vehicle". Note that the IMF has experience of this device, through the Poverty Reduction and Growth Trust, which raised $ 13 billion for the poorest countries.

No one seems yet able to determine the exact allocation of funds that could be offered. Knowing that it is 250 billion euros of capital available, according to a diplomat, the EFSF would likely raise at least five times that amount on the basis of an insurance rate of 20%. Many technical issues remain.In particular the involvement of such a system on the debt of the guarantor countries, including France and its "triple A".

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Creditor banks in Greece will have to accept losses "substantial" in the new bailout of the country, known to be substantially revised over the deteriorating economic situation, warned Saturday the European Ministers of Finance. At a meeting of central bankers in the euro zone on Friday night, "we agreed to say that we had to have a substantial increase in the contribution of the banks' rescue of Greece, as a impairment of their claims, said the leader of European finance ministers, Jean-Claude Juncker.

According to diplomatic sources, the ministers agreed to effectively negotiate with the banks at a discount of "at least 50%" against a target of 21% decided on July 21 with the banking sector.They thus de facto endorsed the conclusions of an expert report which was presented by the troika of donor funds in Greece (EU, ECB and IMF). The paper believes that a discount of 50 or 60% hope to stabilize Greece without having to increase in the amount of gigantic international loans that have already been promised.

A "discount" is the term used in relation to the financial depreciation of the value of loans taken by creditors in this case private banks and investment funds that hold government debt. A discount of 50% of the private sector, the second program of public financial support pledged July 21 to Greece, however, should be slightly revised upwards with government loans (Europe and IMF) to 114 billion euros, against 109 billion euros at the time scheduled.To maintain the envelope of 109 billion euros unchanged, it would bring the discount to 60%, according to calculations by experts.

"It is also an effort by the private sector"

In any event, the second bailout in late July, just after the first amounting to 110 billion euros agreed in spring 2010, will have to be redesigned. "It's pretty clear that we need a substantial discount on Greek debt," also said Saturday the Swedish Finance Minister Anders Borg on his arrival in Brussels for a meeting with colleagues from across the EU."We will now work on a new plan in Greek and this new plan is true that there is a substantial effort to Greece again, there is an effort by European countries and will also require an effort of the private sector" said his Belgian counterpart Didier Reynders.

The question is whether the banks that have so far dragged its feet to give the pot, will accept a negotiated settlement does not pass through a default of Greece said "messy" serious consequences. "It's a negotiation s'entame," said Didier Reynders. In return for the effort required on the Greek claims, it is intended to recapitalize European banks to the tune of nearly 100 billion euros.The subject was Saturday in the agenda of the ministerial meeting, before a meeting in the evening between French President Nicolas Sarkozy and German Chancellor Angela Merkel and the EU summit on Sunday.

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The annual summit between China and the European Union, to be held Tuesday in Tianjin (northeast China), will probably be postponed to a later date, according to European sources consistent.

The inability of Europeans to agree on remedies to the crisis of sovereign debt and the prospect of an additional emergency summit in Brussels next week will prohibit the EU President Herman Van Rompuy to honor its meeting with President Hu Jintao and Chinese Premier Wen Jiabao told the BBC a European official.

The involvement of China and its financial resources in a regulation of the European crisis was one of the issues implicit go to Tianjin.Was the first time that the three European leaders, Herman Van Rompuy, and José Manuel Barroso and Ashton had to go all in China.

The last EU-China Summit was held October 6, 2010 in a tense atmosphere in Brussels, Europe has called on China to let its currency appreciate more and make progress on human rights two days before the announcement of the Nobel Peace jailed Chinese dissident Liu Xiaobo.

Getting started in the world of work is ever more difficult task. To put it mildly. In its latest report on youth unemployment, the International Labour Organisation (ILO) provides an alarming. The generation of a "traumatized" by the tightness of the labor market.

At the height of the economic crisis between 2008 and 2009, the number of unemployed youth had increased in an unprecedented way: 4.5 million additional young people came to swell the numbers of job seekers, when the average change is usually the order of 100,000 people a year. Since then, youth unemployment has dropped. In 2010, he touched 75.1 million people, or an unemployment rate of 12.7%. In 2011, this trend will continue according to the ILO, and the number of unemployed youth as low as 74.6 million people, 12.6%.

But this is good news in appearance, the organization warns. These good figures actually underestimate the extent of a growing number of unemployed youth withdrawing from the labor market, discouraged. The rate of young workers fell from 49.4% in 2009 to 48.8% in 2010. In Ireland, the same phenomenon would reach dramatic proportions. By including the discouraged unemployed, the rate of youth unemployment, which rises already at 27.5% (against 9% in 2007), culminate in fact almost 47% payday loans with no fax. Similarly in China, Austria and Hong Kong, the real unemployment rate is double the official figure.

"More difficult years"

As for those who manage to integrate the labor market, what they find is often "less than ideal."Part-time, for example, rose sharply, by nearly 9 percentage points in Spain, 17 points in Ireland … "The magnitude of the peak recorded since the beginning of the economic crisis suggests that many young people have taken what they could find. This is confirmed by the increase in the rate of underemployment among young people, "the report said.

And the future painted by the ILO is not much brighter. "Uncertainty in the economic environment, coupled with the greater sensitivity of youth unemployment in the economy makes the recovery in employment for this category highly uncertain. This can announce several more difficult years, "says the ILO. The organization also warns governments continuing economic difficulties could generate a distrust of young people towards political and economic systems."This factor played an undeniable role in the Arab Spring," says the ILO.

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The fear of a slowing Chinese economy weigh on Asian stock markets. On Tuesday, the day after a session, however encouraging, the Hang Seng Index in Hong Kong and Shanghai Composite Index unleash respectively 3.52% and 1.52 points to 18,209.70% to 2403.32 points. Investors react to the publication of a slowdown in Chinese growth to 9.1% in the third quarter, against 9.7% and 9.5% in the first and second quarters.After this bad figure, other regional financial centers are also displayed down: the Nikkei of the Tokyo Stock Exchange lost 1.55% to 8741.91 points, the Kospi index in Seoul fell by 1.51% to 1837.01 points, the S & P / ASX 200 Index yields 2.07% at Sydney 4186.90 points, the BSE Sensex 30 in Mumbai plaice 1.73% to 16,730.10 points and the FTSE Straits Times of Singapore gives up 1.81% to 2728 , 55 points.

"Economic growth is currently facing a more complicated on both external and internal plans," said the spokesman for the National Bureau of Statistics (NBS), Sheng Laiyun commenting on the growth of China. In fact, Chinese exporters are beginning to suffer from particular sovereign debt crisis in Europe, their largest market, a difficult economic situation in the United States.The Chinese economy is also impacted by rising wages and strong yuan, has appreciated by 7% in a year against the dollar. "The number of factors of instability and uncertainty increases," says Sheng Laiyun.

The concern weighing on Europe

In this context, the correct figures for China's industrial production have gone unnoticed. This has increased by 13.8% in September year on year, according to BNS.

In addition, concerns about the debt crisis in Europe grew yesterday and weigh Surles markets payday loan lenders. The German Minister of Economics Wolfgang Schäuble has indeed warned that the EU summit to be held in Brussels Sunday will not lead to a definitive solution to the debt crisis. And, while the central bankers of the euro zone had promised a response "comprehensive and lasting peace" to the crisis at the G20 finance this weekend in Paris.

China Eastern Airlines to Hong Kong and Tepco

On the corporate side, China Eastern Airlines (-9.82% to 2.57 Hong Kong dollars) on Monday announced an agreement to acquire 15 Airbus A330 family for a selected list price of $ 2.5 billion, for delivery between 2013 and 2015.

The action of the firm Olympus camera dropped by a further 8.87% to 1.417 yen to the Tokyo Stock Exchange, bringing to 43% since the sudden collapse of his dismissal Friday of its British CEO accused of mismanagement President Honorary Japanese company.

Note that Tepco, the operator of the nuclear accident in Fukushima, yields 1.38% in Tokyo, after asking the first tranche of public assistance of some 700 billion yen (6.7 billion euros) for finance part of the compensation of victims, according to Japanese media on Tuesday.

On the front of currencies, the euro rose 0.28% to 1.377 dollars on Tuesday. Oil is meanwhile down in Asia after the confirmation of a slowdown in Chinese growth in the third quarter against a backdrop of skepticism about a speedy resolution of sovereign debt crisis in the euro area. The barrel of "light sweet crude" for delivery in November, up in the early electronic trading, lost 9 cents to 86.29 dollars, around 6:00.

As his term ends at the head of the European Central Bank (ECB) October 31, it is not a Jean-Claude Trichet to lecture who spoke Sunday at the Grand Rendez-Vous on Europe 1 / Le Parisien-Aujourd'hui en France / i> Télé, to discuss the crisis at the moment Europe.

With his experience of eight years at the head of the institution, who was also governor of the Banque de France, has recommended that Europeans hear the messages addressed to them. His advice? First, be "extra vigilant" with regard to public finances. Rejecting the idea that the euro area and its currency are "threatened" by the crisis, it nevertheless stated that "all countries without exception must be extremely careful." "Protect yourself rather than cure," he summarized, adding that "it depends on us that we can have the least slower growth."

Then you have to "think about the future," stressed the President of the ECB. "Tomorrow, I think we need to change the treaty to be able to prevent a member of the euro area to roam and create problems for everyone else," he said, referring to the Greek crisis that Europe in a hard to control cashadvance. He called for a reform that would make the European Council "able to impose decisions" in a country slide, with "possible sanctions".

It includes some of the "outraged"

"We must strengthen the management and governance of globalization in all fields," he also said in reacting to the movement of indignation that spreads in several major cities."There are obviously a number of lessons from the crisis that the lessons are harsh: it is not possible to leave a financial system and consequently a global economic system that is as fragile." This does not mean "demolish" the banks, he insisted, recalling that "pay three-quarters of the economy."

That he referred to as de-globalization theme is in vogue right now, as advocated by the Socialist-Arnaud Montebourg, and one can imagine Jean-Claude Trichet tense in his chair … and find that it is a call to strengthening of global economic governance.