Jumped 87% in one year. Pension fraud detected by the general pension scheme (CNAV) amounted to 47.5 million euros last year, against 25.4 million in 2009. Please note, this money does "only" 10 million "injury found" or fraud (the career resources, marital status …) resulting in the overpayments. However, this figure tripled in one year. Forty per cent of detected cases involved failure to report, 40% of false statements and 20% of false documents. CNAV refuses to say how she recovered from this amount.

The rest, ie the vast majority of money involved, is to "damages avoided", that is to say, money that would have been paid over the years (throughout retirement fraudsters) if the cheating had not been discovered.28 million euros' benefits in payment "and 9 million on" benefits not yet paid. " "That does not mean that there has been an explosion of fraud in a year, but simply that we detect most," said Peter Mayer, director of CNAV.

539 centenarians Algerian

The fund has, for three years, put the means to fight against fraud, decreed a "national priority" by the state. The dedicated staff represent 75 full-time, thirty cons in 2008. The budget has almost doubled to 4.9 million. Cost "more than offset by the 47.5 million earned on fraud." Peter Mayer took the opportunity to deny the existence of a multitude of centenarians 'fictitious' retired in Algeria. Contrary to the rumors that the Internet, they are only 539 centenarians CNAV a pension in that country.But the director confirms that the control is more difficult to perform outside of France, 1.2 million people living abroad receive a pension CNAV.

To verify that they are alive, the regime sent them several times a year a "certificate of existence" to return the signed and stamped by a local authority. To carry out spot checks, CNAV wishes enter into agreements with insurers approved by the local consulates. A test should be launched in September in Tunisia, where 31,000 retirees receiving pension CNAV.

ALSO READ:

"Pension reform will change behavior

At a time when competition in the market for online savings, Cortal Consors wants to restore the voice. The BNP Paribas subsidiary specialized in savings and online brokerage has launched an image campaign, which aims to strengthen its reputation. She recalls in particular that it was behind several innovations on the savings market, including the marketing of all mutual funds. The property line puts the means of communication with a budget increase of 30%. "In recent years we have invested less than our competitors," admits Gommard Benedict, CEO of the brand which claims 530,000 customers and hopes to reach 25,000 to 40,000 per year.

Through this campaign, Cortal Consors stands out from most of its direct competitors (BforBank, ING Direct, Fortuneo …) focusing on the custom board heritage.And by offering a savings account paying 3.25% for one year (2.23% net), while the majority of promotions for new customers rising to 4% or 6% gross for three months. The online bank hopes in this way retain investors increasingly fickle, quick to hunt for bargains.

Customers rather rich

Especially since the savings market is fought. Online banks, which have made their product booklets of conquest (according to a survey Credoc Monabanq, 56% of their clients have at least one) must now cope with the onslaught of traditional banks. "We have more difficulty in asserting our difference," says Andre Coisne, CEO BforBank, a subsidiary of Credit Agricole.

Involved? The new prudential rules (known as Basel 3) requiring that in future banks have more capital and assets easily accessible, thus more "liquid". Result, they direct more savings to their customers bank books and other deposit account. During the first 4 months of the year, the booklets were not controlled and drained about 10 billion euros in savings.

To remain competitive, banks multiply the distance marketing innovations (promotional rates reserved for first customers …). They want so optimistic. Especially since, according to the study of Credoc, "nearly 31% of customers would consider it as their main bank." Customers even more interesting because they are financially above the average rather rich, young, Parisian and graduates.They also hold more financial products than the average …

ALSO READ:

The banks encourage savings passbook

"How to optimize the bank books

Secretary General of the OECD since 2006, Angel Gurria, 61, has been renewed for a second term of four years as head of the organization in 2010. Former Minister of Finance, Budget and Foreign Affairs of Mexico, he managed an iron hand the consequences of the Mexican crisis of 1995. He is an ardent supporter of the enlargement of the OECD to emerging countries.

LE FIGARO. – What is the OECD today? Is it the think-tank of globalization?

Angel Gurria. – No this is not a think-tank! It is an intergovernmental organization dedicated to the promotion and implementation of better policies for a better life. We observe, measure, comparing the data, draws conclusions, which are transformed into policy proposals. It covers all the topics of economic, social, environmental.Only exceptions: military defense.

In fifty years, what do you see as the greatest successes of the OECD?

We just updating the code of conduct for multinational enterprises, written fifty years ago and upgraded several times! Among the findings of the OECD, I quote: the principle of "polluter pays" principle, the objectives of the Millennium Development Goals, the issue of scarcity of natural resources.There are also investigations on education Pisa (Programme for International Student Assessment, Ed) which are a bombshell in the world's lowest-scoring, or the anti-corruption convention, which gave rise to new legislation in Russia, Israel, Chile and the United Kingdom! Finally, thanks to the OECD, bank secrecy for tax evasion is dead …

The great weakness of the OECD is it not the absence of sanctions?

The power does not lie in the ability to punish but to convince. No international organization can not really impose sanctions on Member States, apart from the European Union fast cash advance loan. But the EU is a special case: the Member States agreed to dispose of part of their sovereignty, which is not the case at the OECD.Nevertheless, our country reports, our rankings and our method of Pisa "name and shame" (literally "name and shame", Ed) on taxation are feared by the Member States.

Does it matter that the G20 countries are not all OECD member?

No! We work with Brazil, China, Russia, India, South Africa or Indonesia daily on all subjects. They are asking for reports. They participate in our work. Of course, it would be better if they were full members because they participated in our decisions, but we are not looking to become a universal organization. Efficiency does not depend on the number. The important thing is to have the views of major emerging issues of global concern.

What would prevent China from being an OECD member?

Nothing! She can start accession negotiations tomorrow, if she wishes.The OECD was invited as a privileged partner in 2007, with a membership perspective. At the approach to it, decide if it wants to become a member or not. For us it would be an honor and a privilege. Then, in the end process, it will be for Member States of the OECD to decide if China meets the political criteria and techniques …

Should we restructure, reschedule debt Greek?

The decision to go to a debt rescheduling Greek does not seem bad. This gives time to digest Greece for its adjustment measures. For contracts, grant a repayment is the lesser evil, which does not reduce the principal amount of the debt. When this was discussed at Ecofin, last week, lenders have responded well: the yields of the Greek debt eased. The markets were reassured.

Member states of the International Monetary Fund (IMF), announced that the race to succeed Dominique Strauss-Kahn to head IMF will open on Monday. The board of directors composed of representatives from 24 countries and country groups, will collect applications until June 10 nominations. He has set a "target" to designate a replacement directeurdémissionnaire and prosecuted for sexual crimes in New York "by 30 June."

The board has promised that that choice would be "an open, merit-based and transparent." In a statement, the U.S. Treasury secrétaie, Timothy Geithner had these words, calling hopes for the selection process "open and fast."The procedure that has consistently taken a European to head the institution in Washington, however, remained unchanged.

The "consensus" is not unanimously

If there are three or less, they will be revealed at the closing depots, June 10 If there are more than three names will be kept confidential to determine time preference "by consensus", except by a vote, a shortlist of three candidates in the best position. The Board may also select the chief executive by majority vote.

On Thursday, India's representative on the board Arvind Virmani had told AFP he wanted a vote, more "democratic" consensus that is "not transparent".It has not been heard.

The daily procedures of the Board of the IMF mix a little of both: the 24 members vote formally well, but in practice they do not submit voting decisions over which they have previously agreed. Daniel Bradlow, professor of law at Washington specializing in international institutions and the IMF, the transatlantic axis remains dominant in every way. "Voting does not necessarily mean democracy. Even imagining a secret ballot, administrators do not necessarily want to go against a European given as a favorite, nor among those who do not announce publicly that they voted for the new CEO, says he AFP.

The emerging shared

The European continent has clearly shown its desire to present a candidate, Christine Lagarde the French who appear to be the favorite.Last votes to rule in his favor, his German counterpart, Finance, Wolfgang Schäuble, who has judged Saturday "as a perfectly appropriate person for this position."

Countries emerging BRICS (Brazil, Russia, India, China, South Africa), which could provide a solid weight-cons to a European candidate, showed no unity.

The Brazilian Finance Minister Guido Mantega is not completely hostile to the idea of ​​a European, although he preferred a priori elsewhere. Moscow already has its candidate, Grigory Marchenko Kazakh. South Africa and India could push the front of the stage they are ready candidates, respectively Trevor Manuel and Montek Singh Ahluwalia. And Beijing is considering to submit one, that has not been clearly chosen.

Another emerging importance, Mexico, now officially campaigning for the governor of its central bank, Agustin Carstens.The Turk Kemal Dervis, who was considered a good compromise between the European and emerging markets, had withdrawn from the race.

The United States, without whose support it is not possible to win, wanted "a candidate with strong experience and leadership qualities required, and able to obtain broad support." Very popular in Washington, Christine Lagarde fits this description.

The description of the ideal candidate given by the IMF is almost the same as when recruiting Dominique Strauss-Kahn in 2007: "outstanding experience in the design of economic policy at high levels, which helps finance ministers , or "communicating effectively", a quality attributed to the French minister for those who soutiennent.Timothy Geithner, who regularly meet at the G8 or G20, wrote in Time Magazine in May 2009 she was one of these "extraordinary individuals" that the world needed at crucial moments such as those caused by the financial crisis.

(With agencies)

ALSO READ:

Sad record. In France, more than a third of all software installed on PCs in 2010 was pirated, according to the latest study by Business Software Alliance (BSA), an international group of software publishers. This represents a market value of 1.9 billion euros, on a global market estimated at 9.5 billion euros. "The retail market is worse than that of businesses, but it is more difficult to control," said Eric Beaurepaire, a member of BSA.

Worldwide, software piracy generates a shortfall of 44 billion and ten billion for Europe alone. The United States is the country where the loss in value is most important, accounting for 7.1 billion euros. But in some "small" European countries, legislation and a little flexible when the market is still underdeveloped, the piracy rate is approaching 70%, as in Bulgaria or Romania.More generally, emerging markets are at a peak, with a piracy rate 2.5 higher than in mature markets, with a total value estimated at 21.7 billion euros.

At the head office and messaging

Pirated software the most concern the office and mail systems. What makes Microsoft the publisher the most penalized. Exposure correlated with its market share. The case of misuse is the most common deployment abusive (a company buys a license for 100 PCs and installs it on 200). "Cases of pure piracy, with the use of unlicensed software, are more rare," says Eric Beaurepaire.

This does not prevent users or even entire departments of large private companies fraudulently install software on their devices, possibly bypassing the procedures established by IT departments."Such practices can have dramatic consequences for societies. Pirated software can be corrupted with viruses … "insists Eric Beaurepaire. Not to mention the risk of financial penalties for the company.

Departments also

In France, where industry, technical fields and those related to the creation on the Internet appear to be less virtuous, no area is spared, not even the utility or ministries! Moreover, there is no real correlation between the rate of software piracy and its price. The most expensive are not necessarily the most coveted.Thus, security software, which does not always worth a score of euros, are not copied less than for professionals, which can be worth several thousand euros.

Paradoxically, the French might be followers of illegal copying, they say they are also very sensitive to the respect of intellectual property. A poll conducted by Ipsos for the BSA found that 68% of French people support the remuneration of inventors the world average is 71%. Aware of the risks of "software purchased on the street or" borrowed "between friends", the French, however, not hesitate to perform multiple installations, they do not perceive a real fraud.The advantages of software legally acquired access to technical assistance, protection against intruders … not enough to convince either the French users, less sensitive than the rest of the world to these arguments.

ALSO READ:

"The site of the Business Software Alliance

Avoid taking unnecessary risks. This should be the credo of investors on Wednesday at the Paris Bourse. The CAC 40, which strengthened yesterday after eight consecutive sessions progresison, thus starts the day on a drop of 0.18% to 4089.64 points.

The movement is exactly the same on other European markets. At the London Stock Exchange, the FTSE-100 index lost 0.54% to 6049.96 points in early trade. The Frankfurt Stock Exchange also opened down 0.34% to 7475.18 points.

Investors have no clear upward or from Wall Street or the Asian markets. In addition, the program of the day is very busy. In addition to a series of important industry publication, several statistics are on the agenda. In France, there will be counts of the trade balance in March and the PMI services in April.This indicator is also expected across the eurozone, as retail sales in March. United States, employment is under the spotlight. So what awaited the traditional monthly report Friday, the markets will have an overview of the U.S. labor market from Wednesday with the Challenger study on employment, which will be followed by the ADP report. Next came the ISM services and oil stocks weekly.

Oil markets precisely, prices are still trending down in morning trading. A barrel of light sweet crude for June delivery lost 76 cents to 110.29 dollars while that of Brent North Sea also June delivery yielded 69 cents to 121.76 dollars. Brokers are questioning the declining demand in the United States. On the currency markets, the euro fell slightly to 1.4813 dollar.

BNP Paribas beats consensus

Orpea

The group announced Wednesday an increase of 26.7% of its sales in the first quarter of 2011 due to high occupancy of its homes and its clinics. It confirms its target of a 2011 turnover of at least 1.210 billion for the full year (964.2 million in 2010) and "maintaining profitability remains strong."

BNP Paribas

The group reported results well above expectations for the first quarter. Net income was up 14.6% to 2.6 billion euros over the first three months of the year, revenues rose 1.3% while provisions for bad debts fell by over 30% .

Alstom

The specialist in energy infrastructure and transport on Wednesday released results 2010-2011 in sharp decline, especially because of its activities in energy, and confirmed its targets for this fiscal year cours.Sur ended March 31, Alstom recorded a net profit of 462 million euros (-62%), operating income of 1.570 billion (-12%) and a turnover of 20.923 billion (+6%).

CGG Veritas

The oil services group has widened its losses in the first quarter to 37 million. Its sales rose 5% but at 728 million euros. The group recorded a backlog at April 1, to 1.22 billion on a market that is expected to strengthen gradually.

Iliad

The company said sales rose 1.1% to 509.8 million euros in the first quarter.

Scor

The French reinsurer posted a first quarter net loss of 80 million euros, mainly due to the cost of natural disasters in the first three months of 2011.

Side publications are expected on Wednesday égalment those Nicox and Boursorama (first quarter results). M6 and Gecina unveil their turnover in the first quarter. After trading, the income of Cegedim, and Mr Bricologe SeLoger.com are expected.

Vicat

The group announced on Tuesday a jump in sales in the first quarter thanks to a rebound in its business in Europe, helped by particularly mild weather conditions.

NRJ Group

The group announced Tuesday an increase in advertising revenues in France since the beginning of the second quarter, after posting a jump in sales over the first three months this year thanks to its television division.

Hermes Jean Paul Gaultier officially leaves

Valeo

The U.S. investment fund Pardus has criticized the leadership of Valeo's not doing more to address the valuation gap between the automotive supplier and its competitors.

Hermes

The broker said Tuesday the sale of its 45% stake in Jean Paul Gaultier perfume Catalan group Puig. The sale price of securities and loan repayments will generate a book profit of EUR 30 million in 2011, said the saddler.

Europacorp will present its strategic plan while Air Liquide holds its general meeting at 15 o'clock.

Sermon of the rating agency Standard & Poor's on the U.S. national debt and lowered polls because of soaring fuel prices: If last week was hard on the economic front for President Barack Obama, one that starts this Monday should not be much brighter. Many statistical publications should confirm that the pulse of the U.S. economy beats slower the last three months.

One of the main events of the week should be the first release on Thursday, the figure of U.S. growth in the first quarter of 2011. Economists are pessimists: the average of their predictions came to a small 1.8% growth in gross domestic product (GDP) over the first three months of the year. Is small compared to the rate of progression of the end of 2010 (+3.1%).

Slowdown in consumption

Involved, "the slowdown in consumption of households" of 4% in late 2010 to 2% in early 2011, according to economists at Credit Agricole. The main engine of U.S. growth suffers from higher prices, primarily of those fuels. A gallon of gasoline has surpassed the symbolic $ 4 in recent weeks. Prolonged depression of non-residential property sector should also stopping growth.

Tuesday's publication of consumer confidence, should give a foretaste of the gloom that gnaws the Americans. Again, "the price of petrol should weigh heavily on consumer confidence which could result in penalizing the outlook for consumer spending, analysts expect the bank Nomura.

Still, "the resumption of the United States is on track," said Jean-Marc Lucas, an economist at BNP Paribas.Certainly, commodity prices will weigh on consumption, but "on the labor market, workers' incomes are starting to take off and the unemployment rate down." Goldman Sachs economists also expect that the expected slowdown in the first quarter is only temporary, due mainly to bad weather. "The situation is more difficult to read than usual (…) but we expect a recovery in the second quarter," they say.

Bernanke speech expected

The U.S. central bank, the Fed, for its part should give some details on its new economic forecast on Wednesday evening. Its chairman, Ben Bernanke, would then launch a new practice, the press conferences. For the sake of transparency and clarity, the Fed follows the lead of the European Central Bank. This latter practice this exercise since its inception.Not sure the words of Ben Bernanke be able to reassure the markets, amid debate about the effectiveness of monetary stimulus. Economists expect at best a status quo growth forecasts of the Fed.

ALSO READ:

"From USA to China, the price of gasoline worries

"A rating agency of the U.S. deficit is moved

The interest rate the European Central Bank, which determines the cost of money in the entire euro zone, banks in particular, was raised by 0.25 point to 1.25%. It is the first rise in the cost of money for 3 years. This decision was announced between the lines several weeks ago in previous speeches the President of the European Central Bank (ECB), Jean-Claude Trichet.

ECB reacts to the acceleration of inflation, which reached 2.6% in March, surprising analysts on the rise. Developments due mainly to "increased energy prices," said Jean-Claude Trichet at a press conference Thursday afternoon.

In this context, he reiterated his warning against "second-round effects", that is to say that higher wages would fuel higher prices."We are particularly attentive to this issue," he warned. The social partners should not take for reference the current inflation, but the target of 2% set by the ECB during the negotiations on wages, pleaded Jean-Claude Trichet.

The first in a long series?

The press conference of the ECB was scrutinized by analysts awaiting signs of future rate increases. Most of them estimated that up this Thursday is the first in a series that will take place during 2011. "The ECB has decided that this increase was the first in a series," Jean-Claude Trichet timed.

At the same time, it did not indicate in his opening statement that rates were at an appropriate level, implying that future adjustments.At Societe Generale, analysts expect an increase of 25 basis points (0.25%) every quarter to an interest rate of 2% in late 2011.

Route risky "

That prospect worries some observers, however. The ECB is "a risky road to recovery," said James Nixon, an economist at Societe Generale CIB. While growth in the euro zone is distributed. But it remains very uneven across countries. Germany experienced a strong recovery while the peripheral countries, subjected to rigorous programs are still in recession.

"Rising interest rates will add considerably to the cost of debt of the peripheral countries, fears James Nixon.And it remains to prove that increasing rates in a context of soaring oil prices, already able to cut consumption, does not cause back in recession and no recovery of the banking crisis in Europe. "

With a rate of 1.25%, "the EC's monetary policy remains very accommodative, has defended Jean-Claude Trichet. Our decision is to anchor inflation expectations of economic actors to a level commensurate with the objective of the ECB's 2%. "

Not a single car is out of the manufacturers plants yesterday, three days after the earthquake that struck Japan on Friday. Toyota, Honda, Nissan, Renault's partner in the Archipelago, had discontinued production of not knowing when they would resume. Mitsubishi Motors has closed its units left Aichi, Gifu and Okayama and will not open today.

Some of their production centers are located in the northeast area is devastated by the earthquake and tsunami, but all are affected, unable to procure spare parts. Toyota, with 12 factories are closed now lose $ 72 million per day. The car, running lean for stocks as low as possible, is paralyzed from a link in the chain flu.PSA Peugeot Citroën is indirectly affected: electric cars Peugeot and Citroen iOn are manufactured at Mitsubishi.

The energy shortage is real

The Sendai area, closest to the epicenter of the earthquake, is also an important industrial center for electronics, telecommunications and machine tools. Sony has frozen seven sites and one of its plants in Blu-ray is flooded. Canon, world's leading producer of cameras, has warned that he risked arrest eight of its plants. His rival Panasonic has already suspended some of its production.

The semiconductor industry is also likely to be particularly affected. According to the IHS firm iSuppli, Japan accounted for 20.9% of the global market last year.Two manufacturers, Shin-Etsu and Sunco, providing silicon wafers, have announced plant closings.

Everywhere, the reduction of production capacity is compounded by shortages of electricity, interruption of rail traffic, the collapse of roads and port closures. East Japan Railways, which serves the suburbs of Tokyo, is able to ensure that 20% of its normal traffic. The cessation of nuclear power plants will cause an energy deficit of 4,700 megawatts. "Tokyo Electric Power has introduced blackouts to regulate demand," said Arnaud Bauduin, a specialist on Japan at OFI Asset Management.Similarly, 20% of refining capacity is currently suspended. "

After stopping all production after the tsunami, the fourth largest global steel, Nippon Steel, took over the supply of all its sites, except that of Kaimishi near the area hit by the disaster. Rival JFE has meanwhile revealed yesterday that he was forced to stop supplying a site near Tokyo due to a problem of energy supply.

At the Tokyo Stock Exchange, which fell 6.18% yesterday, all the industrial stocks were battered. Nissan lost 9.5%, Honda 6.5% and Tokyo Electric Power (TEPCO) plunged 23.5%.

Credit Suisse figure to 122 billion euros or 129 damage, about "40% of the damage caused by the earthquake in Kobe in 1995, stressing that the region has fewer offices, fewer plants and fewer highways .

Supplementary budget

The Japanese economy, driven by its exports, was already weakened by soaring oil prices and a rebound in Europe and still hesitant in the United States. It will be difficult to recover. Nomura expects that GDP (gross domestic product) in the country, which contracted by 1.3% in the fourth quarter of 2010, may not return until the third or fourth quarter of this year. The archipelago, say the analysts of the firm, must also take into account a possible drop in domestic consumption.

Despite this, the rating agency Moody's, which stresses the importance of saving Japanese, does not provide an immediate fiscal crisis. It is betting instead on government spending that will be needed for reconstruction and can help accelerate recovery of the Japanese economy.This does not prevent the opposition already ask the government a supplementary budget for fiscal year ending March 31.

ALSO READ:

"Séisime: Bank of Japan intervenes in markets

"France has lost 84 billion with the crisis

"Volume of hours worked inadequate

"Higher taxes elsewhere

"The share of wages in the highest in 15 years

"A rapid rise in labor costs

The presidential campaign has begun. The MEDEF, at least, with the publication of "Showdown", the diagnosis of the French economy performed every two years by the employers' organization. "It must be the basis of all discussions, all ideas, all thoughts that may be presented in 2012, said Laurence Parisot.

"" Be positive, "said Laurence," said Pierre Nanterme, head of Accenture, president of the Economic Committee of the MEDEF, and as pilot of the book. Yet the picture is invariably dark. French companies suffer from a lack of structural competitiveness.The crisis is over there and has exacerbated the situation. Companies have seen their margin drop below 30%, its lowest level for twenty-five years. "A diagnosis beyond doubt is already at half of the solutions," says Pierre Nanterme.

But the report does not avoid some minor provocations likely to generate controversy with the unions.Noting that the share of wages in value added increased by 3 points in ten years to reach 67.7%, Medef pretends to be concerned: "France is the only country where wages are rising faster than production This is not sustainable unless further weakening the competitiveness of businesses. "The fault, a little to rising wage income – especially with the increase in the minimum wage during the 35 hours – and much to the heavier taxes levied on wages (payroll, 1% housing, transport payments business cards…).

Fighting "equal footing"

But it regards the importance of taxation that Medef goes furthest in challenging the industry standard is to calculate the weight of tax burden (taxes and charges) to GDP."This calculation underestimates the burden of compulsory contributions paid by the private sector in countries where the public sector contributes significantly to GDP," says one in the organization of Grove Street. The latter proposes to measure the weight of taxes paid by businesses compared with 1.1 trillion of wealth they actually occur. Seen in this light, the tax burden represent 26.4% of the value added of French companies. "It's like siel had to work until mid-April to pay their charges and taxes," said the MEDEF, whereas in England they are working "for them" early March and Germany in mid- February. Conclusion: French companies are not fighting "equal footing" with their rivals, Pierre Nanterme regrets.Laurence Parisot judge therefore urgent to return to a "fair competitiveness" – the motto for a year.

It goes through five levers: better guide young people, encouraging research, reduce labor costs, reduce levies on businesses, improve the efficiency of public expenditure. How? The specific responses are returned at the end of the year, when the MEDEF released after "Need air," his book-2007 program. The President of the MEDEF, which likes anglicisms, has the art of teasing.

France has lost 84 billion with the crisis