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	<title>My world. News and Opinions &#187; blogs</title>
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		<title>Paris is more committed to the survival of the euro as Berlin</title>
		<link>http://ecopolhome.com/paris-is-more-committed-to-the-survival-of-the-euro-as-berlin/</link>
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		<pubDate>Tue, 15 May 2012 03:44:07 +0000</pubDate>
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		<description><![CDATA[ 
 Angela Merkel to hold the said it is preparing to receive the head of state in Europe who feel most attached to the euro. If it should remain a single country in the single currency &#8211; strange paradox &#8211; it would be France. While London bookmakers have stopped betting on an output of Greece, [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Angela Merkel to hold the said it is preparing to receive the head of state in Europe who feel most attached to the euro. If it should remain a single country in the single currency &#8211; strange paradox &#8211; it would be France. While London bookmakers have stopped betting on an output of Greece, both in their likelihood seems strong (4 against 1), France is the country where the probability of abandonment of the single currency seems most low, with a score of 20 against 1. Our risk of secession is smaller than that of Germany (14/1) and a fortiori of Spain (12/1). </p>
<p> Without being scientific opinion of the bookmakers perfectly expresses the historical reality. It was François Mitterrand, who had pressured Kohl to waive its Deutsche Mark, symbol of German success, and not vice versa. And now the fear of Germany going it alone is not negligible. </p>
<p> The Judgment of Solomon
<p> This is certainly not an asset but to enter a negotiation being as attached to the object of bargaining. In the judgment of Solomon, the true mother would rather give up her child rather than see it cut in half as we offered him. Lionel Jospin had experienced to his cost in June 1997, when he requested a trustee appoint a growth component in the Stability Pact. This was done in terms of the Treaty of Amsterdam &#8211; the city from the top &#8211; where you added &quot;and growth&quot;, a mere rhetorical flourish. And a few months later, when a new record for employment in Luxembourg, the &quot;socialist left&quot; vain declare that &quot;social Europe deserves a euro crisis,&quot; the threat was empty  <a href="http://payday-loans-application.com">guaranteed cash advance</a><!-- . -->. </p>
<p> This time the chances of reaching a &quot;compromise&quot; in the words of Pierre Moscovici, the campaign manager Francois Hollande, are much greater. Unlike the summer of 1997 where she had already begun a recovery, the European economy is in recession. Face a fundamental problem that it does not deny, Angela Merkel has also taken the lead. Of the six points it offers (see above) are the &quot;projects bonds&quot; financing investment projects. The kinship is more than semantics with the &quot;Eurobonds&quot;, aimed at pooling, in part, public debts &#8230; and that excludes Berlin. </p>
<p> In the French camp, Michel Sapin, a bright future ministry, just recognized the dangers of renewed worsening deficits and debt. This concession to the Chancellor will she meet up at any price schedule of deficit reduction, or do we give to the freeze? </p>
<p> At stake is the reputation of a &quot;Holland, Roosevelt again for Europe&quot;, the socialist economist Thomas Piketty, apostle of tax benefits, strives to accredit Urbi et Orbi. But do not forget that New Deal also includes structural reforms. This component is part of the negotiation that engages in Europe, as evidenced by the fact-finding mission that has just visited Brussels to Paris, as well as in eleven other European economies face obvious problems of competitiveness. Its findings will be formally presented on May 30 </p>
</p>
<p> ALSO READ: </p>
<p> &quot;The escalation Greek crisis reminds Cuban missile </p>
<p> &quot;Europe must change its strategy </p>
<p> &quot;The Athens Europe puts pressure </p>
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		<title>Greece and Spain markets concerned</title>
		<link>http://ecopolhome.com/greece-and-spain-markets-concerned/</link>
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		<pubDate>Tue, 08 May 2012 16:01:03 +0000</pubDate>
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		<description><![CDATA[Presidential in major cities Paris &#124; Leeds &#124; Lyons &#124; Toulouse &#124; Leeds &#124; Sheffield &#124; Liverpool &#124; Bordeaux &#124; Lille 
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			<content:encoded><![CDATA[<p>Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille </p>
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		<title>Health: better access to care by region</title>
		<link>http://ecopolhome.com/health-better-access-to-care-by-region/</link>
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		<pubDate>Sat, 28 Apr 2012 05:28:11 +0000</pubDate>
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		<description><![CDATA[A unified regional contact
 There are 26 Regional Health Agencies (ARS), the cutting may not be superimposed on that of the regions. Indeed, the distribution is developed based on specific characteristics and needs of each territory. 
 Each ARS multi-agency previously responsible form of dispersed health policy in the regions and departments: 
 &#8211; DRASS [...]]]></description>
			<content:encoded><![CDATA[<p>A unified regional contact
<p> There are 26 Regional Health Agencies (ARS), the cutting may not be superimposed on that of the regions. Indeed, the distribution is developed based on specific characteristics and needs of each territory. </p>
<p> Each ARS multi-agency previously responsible form of dispersed health policy in the regions and departments: </p>
<p> &#8211; DRASS (Regional Directorate of Health and Social Affairs) </p>
<p> &#8211; DDASS (Departmental Directorate of Health and Social Affairs) </p>
<p> &#8211; The Regional Agency for Hospitalisation, </p>
<p> &#8211; The Regional Union of Health Insurance, which includes the main plans: general system, agricultural system and RSI. </p>
<p> Prevention missions, organization and management
<p> The Regional Health Agency operates both in missions to regional dimension that the most local level. These missions are twofold: </p>
<p> &#8211; Management of public health in the region. This control is based on safety and health monitoring (environmental monitoring, epidemics &#8230;), in coordination with the prefect. </p>
<p> &#8211; The organization of health care provision. The ARS is involved both with local doctors and health facilities (hospitals, clinics) or medical social (retirement homes, homes for the disabled). </p>
<p> Improving healthcare services
<p> The ARS has four main objectives: </p>
<p> &#8211; Reduce territorial inequalities in health, </p>
<p> &#8211; Better access to care, </p>
<p> &#8211; Improve coordination between health professionals and health institutions and medical social, </p>
<p> &#8211; Ensure greater efficiency in health spending. </p>
<p> The ARS are preferred partners of health professionals and local authorities, who endeavor to promote and coordinate actions. </p>
<p> Controlling health expenditures in all their aspects
<p> The mission of ARS is ultimately optimize the allocation and use of health resources. That is to make the most of every dollar of budget committed to a regional health policy. </p>
<p> ARS also did they have programs priority risk management (GDR). For the period 2010-2011, we find among them including transporting patients, chronic renal failure, the hospital prescriptions drugs performed in the city, medical imaging or efficiency of nursing homes (residential homes for the Elderly dependent). The diversity of these measures reflects the breadth and depth of intervention of ARS. </p>
<p> ALSO READ: </p>
<p> &quot;Health insurance: what&#39;s changing in 2012 </p>
<p> &quot;The medical questionnaire </p>
<p> SERVICE:
<p> &quot;For efficiency of your health insurance, ask the experts advice CPLUSSUR.COM </p>
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		<title>Accor: 45 hotels in India by 2015</title>
		<link>http://ecopolhome.com/accor-45-hotels-in-india-by-2015/</link>
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		<pubDate>Thu, 05 Apr 2012 09:52:07 +0000</pubDate>
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		<description><![CDATA[ 
 At the entrance, the staff welcomes you with a &#34;hello-namaste.&#34; 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 &#8230; Welcome to the Sofitel Mumbai KBC, the first hotel brand in India since its move [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> At the entrance, the staff welcomes you with a &quot;hello-namaste.&quot; 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 &#8230; 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. &quot;The biggest challenge in India, the construction time. There are a lot of bureaucracy. We had to ask more than one hundred licenses, &quot;said Robert Gaymer-Jones, CEO Sofitel Worldwide. </p>
<p> 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 &quot;There is not enough supply, so there is market share to take,&quot; 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. &quot;There are high barriers to entry into India. Everything takes time. We must find the right partners, &quot;explains Denis Hennequin. Eleven openings are planned this year, with five this month, the first Pullman and Formule 1. </p>
<p> Goal of becoming the first hotel outside India
<p> By 2015, Denis Hennequin is 90 hotels open or under construction and the place of the first international hotel group in India. &quot;This represents a sixty hotels open,&quot; 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. </p>
<p> The leading position covered by Denis Hennequin is occupied by Carlson, with 52 hotels. The battle promises to be tight. &quot;We have a very privileged position in India that is the envy said Hubert Joly, CEO of Carlson. We will try to keep it. &quot;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. </p>
<p> But places are to be taken. &quot;There are 150,000 hotel rooms across India, as well as in the city of Shanghai,&quot; said Christian Karaoglanian. Accor, the openings will be especially Formula 1, Ibis and Novotel. Sofitel two are scheduled to Bombay with a &quot;So Sofitel&quot; contemporary design. Outside of Bombay, Robert Gaymer-Jones looks as opportunities in Delhi, Bangalore and Goa. </p>
<p> ALSO READ: </p>
<p> &quot;Accor is selling furniture of its hotels under renovation on eBay </p>
<p> &quot;Accor is accelerating its expansion </p>
<p> &quot;Accor strengthens its brand by focusing on Ibis </p>
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		<title>Burger King renewed the offensive</title>
		<link>http://ecopolhome.com/burger-king-renewed-the-offensive/</link>
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		<pubDate>Tue, 03 Apr 2012 18:56:13 +0000</pubDate>
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		<description><![CDATA[ 
 Burger King goes on the offensive to win back customers less and less convinced. Director North America of fast food chain, Steve Wiborg, detailed this weekend at USA Today&#39;s battle plan. It comes in three areas: promoting healthier recipes to the menu (chicken, fruit smoothies &#8230;), new decoration of restaurants and extensive advertising campaign. [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Burger King goes on the offensive to win back customers less and less convinced. Director North America of fast food chain, Steve Wiborg, detailed this weekend at USA Today&#39;s battle plan. It comes in three areas: promoting healthier recipes to the menu (chicken, fruit smoothies &#8230;), new decoration of restaurants and extensive advertising campaign. 2500 U.S. restaurants and should be renovated in the next three years, while celebrities such as footballer David Beckham will be mobilized for the campaign. </p>
<p> Miami-based chain, bought in 2010 for $ 3.9 billion by the fund 3G Capital, had to react. Last year, it lost its traditional position as the second largest seller of hamburgers in the U.S., restaurant owners and franchisees alike. According to research firm Technomic, Wendy&#39;s has topped the pole with $ 8.5 billion hamburgers sold, 100 million more than Burger King, but still far behind the 34.2 billion King McDonald&#39;s. </p>
<p> The growing strength of Wendy&#39;s has been attributed to its new range of sandwiches more upscale and upgrade its stores, operated in 2011. </p>
<p> The snub did not extend to the international market, where Burger King is an undisputed number two <a href="http://payday-nofax.com">easy payday loans</a><!-- . -->. The chain is present in 81 countries through 12,500 of which only 1,300 are restaurants owned. </p>
<p> By expanding the franchise
<p> Both franchises expected to widen again over its international expansion. In late 2011, Burger King realized indeed still two thirds of its revenue &#8211; $ 2.3 billion versus 2.5 billion for fiscal year 2010-2011 &#8211; North America. </p>
<p> The new shareholder intends to continue its growth in emerging countries and Europe, where Germany, Spain and Great Britain predominate. An upcoming opening in France, which would pass through a franchise with Autogrill&#39;s partner Burger King in Italy, is expected. </p>
<p> The choice of an expansion franchise by offering the chain, heavily in debt since it was bought by leveraged capital 3G, greater financial flexibility. Negative, it restricts its ability to control the implementation of its campaigns, often very expensive renovation in restaurants. In the U.S., the owner of a fast food must put on the table between $ 300,000 and $ 1.5 million, as merely a lick of paint or he rebuilt his building for s adapt to new standards group. </p>
<p> ALSO READ: </p>
<p> &quot;Burger King will make his return to France </p>
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		<title>Warning against inflation in Germany</title>
		<link>http://ecopolhome.com/warning-against-inflation-in-germany/</link>
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		<pubDate>Mon, 02 Apr 2012 07:32:07 +0000</pubDate>
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		<description><![CDATA[ 
 Full marks for ver.di. The first major wage negotiations this year in Germany was crowned the success of service trade union leader and his mustache, Frank Bsirske. Negotiators side employees were claiming 6.5% increase to two million civil servants and local authorities. The increase will be 6.3%. This historic increase will be gradual (+ [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Full marks for ver.di. The first major wage negotiations this year in Germany was crowned the success of service trade union leader and his mustache, Frank Bsirske. Negotiators side employees were claiming 6.5% increase to two million civil servants and local authorities. The increase will be 6.3%. This historic increase will be gradual (+ 3.5% of salary plus retroactive to March 1) and spread until August 2013. Four negotiation sessions and forty hours of discussion for the last round resulted in spectacular agreement. The only intransigence Bsirske, who has earned his stripes as a figure of unionism on the occasion, does not explain everything. </p>
<p> The strong protests by the workers during the strikes of March preventive in hospitals, public transport and airports as well as the fear of employers to see the movement repetition employees placed in a strong position. Up to press the government to &quot;pain threshold&quot;, in the words of Interior Minister, Hans-Peter Friedrich (CSU), government negotiator. </p>
<p> Election and purchasing power
<p> The union knew they could rely on the benevolence of power: Ursula von der Leyen, Minister of Labour, close to Angela Merkel, had incurred the wrath of employers claiming earlier this year substantial increases in salary . At stake, the advantage for the government to support domestic demand. Chancellor, his eyes fixed on his re-election next year, wants to position itself as the candidate of purchasing power, in a campaign that will address the general issue of minimum wage <a href="http://businesscardsabc.com">business cards</a><!-- . -->. This agreement sets the tone in a Germany whose optimism is reflected now on pay slips. Even the liberal FDP, punctilious in the use of public funds, welcomed the outcome of negotiations (amounted to 5 billion euros) for civil servants, it is &quot;fair&quot; they also benefit from growth. </p>
<p> In general euphoria, a blast of cold air came down in Copenhagen. The Danish capital where he was attending the meeting of the Eurogroup, Jens Weidmann, the Bundesbank president, fears that &quot;this increase, combined with the expected rise in energy prices, fueling inflation.&quot; He hopes that &quot;this result is not used as a benchmark for other industries.&quot; Since 2012 is described here for years &quot;Megatarif&quot;. The pay slip 4 million German employees will be the challenge of negotiations in the sectors of metallurgy, power industry, chemical and telecoms. The 33,000 ground employees of the airline Lufthansa have already obtained an increase of 3.5% and 130,000 Deutsche Post up 4%. </p>
<p> And like a vicious cycle, inflation eats the magnitude of the claims. Officially increased by an average of 2.3% last year, German workers have received only an increase of 1.1%, after deducting price increases. One more argument in the quiver of the unions. </p>
<p> ALSO READ: </p>
<p> &quot;The Germans are rebelling against the fuel price </p>
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		<title>If you ride a lot, go to Venezuela</title>
		<link>http://ecopolhome.com/if-you-ride-a-lot-go-to-venezuela/</link>
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		<pubDate>Sat, 24 Mar 2012 19:56:08 +0000</pubDate>
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		<description><![CDATA[ 
 While fuel prices going from record to record in France, a study by German GIZ revealed by Challenges, shows that the French are not the worst off. Every two years, this independent economic research firm analyzes the price of gasoline and diesel in 170 countries. The experts come to update some of the results [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> While fuel prices going from record to record in France, a study by German GIZ revealed by Challenges, shows that the French are not the worst off. Every two years, this independent economic research firm analyzes the price of gasoline and diesel in 170 countries. The experts come to update some of the results to reflect the surge in oil prices. The barrel has indeed increased by about $ 20 since the last measurements in 2010. </p>
<p> According to the survey, the price differences among countries are unprecedented. Gasoline is cheaper and 112 times in Venezuela, where it costs 0.17 euro per liter, as in Turkey where it reached 1.91 euro per liter, and 88 times cheaper than in France (1.50 per liter on average). </p>
<p> Subsidies and taxes are the difference
<p> To explain these price differences, GIZ identified four groups of countries. The first category includes all states like Venezuela disconnects the fuel price of one barrel of oil through grants awarded to distributors. It is only country in the top 20 oil producers like Venezuela, Iran, Saudi Arabia, Qatar, Kuwait, Algeria, United Arab Emirates <a href="http://payday-z.com">paydayloans</a><!-- . -->. The price per liter do not exceed € 0.38. </p>
<p> The second set also includes oil-producing countries but the subsidy policy is less aggressive. Accordingly, the fuel price is a little higher, but remains below the market price is around € 0.58 and a liter as in Nigeria, Kazakhstan, Angola or Sudan. </p>
<p> In the third category, however, there are countries whose tax increased the price of a liter of petrol above the market price. This is the case of the United States, China, Russia or Brazil. The fuel is sold from 0.64 to 1.04 euro per liter. </p>
<p> The last group consists of states where governments have established a strong fuel tax. This is true of all countries of the European Union, Switzerland, Turkey but also in poor countries such as Eritrea and Rwanda. At the pump, the price is greater than 1 euro per liter. </p>
<p> ALSO READ: </p>
<p> &quot;With soaring prices, gasoline thefts are increasing </p>
<p> &quot;The gasoline prices have reached new records </p>
<p> &quot;Why do Parisians pay their gasoline so expensive </p>
<p> &quot;The Germans are rebelling against the fuel price </p>
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		<title>Despite the crisis, brands still believe in sponsoring</title>
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		<pubDate>Wed, 21 Mar 2012 13:48:15 +0000</pubDate>
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		<description><![CDATA[ 
 Groupama, Peugeot, Veolia &#8230; Many major brands have recently announced a willingness to reduce or completely cut their investments in sports marketing. Yet this phenomenon remain marginal. This is certainly what seems to believe Sporsora, the association of those involved in sports economics, which will publish March 29 at the second conference of the [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Groupama, Peugeot, Veolia &#8230; Many major brands have recently announced a willingness to reduce or completely cut their investments in sports marketing. Yet this phenomenon remain marginal. This is certainly what seems to believe Sporsora, the association of those involved in sports economics, which will publish March 29 at the second conference of the economy of Sport *, the results of its study on the sponsorship of companies.  </p>
<p> Dubbed &quot;Sport in corporate strategy: vision and perception&quot; and carried on the Internet in February 5000 with a major French advertisers file, it brings together the experiences of sponsoring 150 largest advertisers in the Hexagon. </p>
<p> The confidence shown by the marks in the virtues of sports marketing is clear: a large majority of them (68%), in the sponsoring of a component as &quot;full&quot; of their business strategy, and 80% a specific budget dedicated to the promotion of their fame. Better: in times of crisis, and at the hour of streamlining budgets, 61% of advertisers are predicting an increase or stability of these budgets, and 66% of those who already use these modes of communication they retain their confidence, despite the crisis <a href="http://payday-loans-e.com">pay day advance</a><!-- . -->. </p>
<p> Distinction sponsorship and patronage
<p> Two thirds of respondents say also that in times of difficulties, it is important to maintain or strengthen sponsorship and patronage. Indeed, 76% say that these channels are different from other types of expressions. Last important lesson of the study, at a time when the concept of return on investment becomes more important as advertisers well distinguished sponsorship sponsorship. For 60% of respondents, the first concept is clearly seen as a mode of communication, and for 62% of them, patronage is identified as an expression of citizenship. </p>
<p> * Dedicated to &quot;The economics of sport in times of crisis, to new growth models.&quot; March 29 from 8:30 to 16:30 at the MEDEF headquarters in Paris. </p>
<p> ALSO READ: </p>
<p> &quot;The sports business has a bright future ahead of him </p>
<p> &quot;The sports brands also play the humanitarian card </p>
<p> &quot;Intersport BetClick replaced as sponsor of the OM </p>
<p> &quot;Sports: Peugeot no longer afford its ambitions </p>
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		<title>Credit cards: new benefits</title>
		<link>http://ecopolhome.com/credit-cards-new-benefits/</link>
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		<pubDate>Tue, 14 Feb 2012 01:16:19 +0000</pubDate>
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		<description><![CDATA[ 
 Visa Europe and MasterCard compete imagination to make their cards more attractive. Thus, Visa deploys a program of benefits for some 4.2 million Visa cardholders Prime. They now benefit from price reductions in a list of partner stores (Sephora, Lapeyre, Opinion &#8230;) by simply presenting a coupon to download on the Internet (visa.fr). April [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Visa Europe and MasterCard compete imagination to make their cards more attractive. Thus, Visa deploys a program of benefits for some 4.2 million Visa cardholders Prime. They now benefit from price reductions in a list of partner stores (Sephora, Lapeyre, Opinion &#8230;) by simply presenting a coupon to download on the Internet (visa.fr). April 1, this program will be expanded to Lenotre, ready-to-wear or Bensimon to Nature and Discovery. &quot;Historically, the world of credit cards was rather that of the travel and leisure. Now the goal is to approach the everyday consumer, &quot;says Catherine Soubirou, partnership manager at Visa Europe. MasterCard, meanwhile, has developed an online shopping mall which also offers discounts to holders of the Gold card. </p>
<p> But for the most prestigious cards, these benefits are not enough. The 150,000 holders of a Visa Infinite card will then be offered, to April 1, new services very chic. As Jet Taxi, which for 2200 euros an hour, take four people in Le Bourget to the destination of their choice. Or the opportunity to attend events are difficult to access (the Grand Prix of Monaco Formula 1, the Cannes Film Festival &#8230;). </p>
<p> Extensions guarantees
<p> Open doors to places or events was the confidential trademark of the very VIP Centurion Card from American Express. The same idea will wow now the holders of other cards. MasterCard has already embarked on this path, imagining private parties for its Platinum card holders who dream of visiting a quiet art exhibitions or attend concerts circle <a href="http://paydayintime.com">Payday advance</a><!-- . -->. A taste for the Parisians, what awaits them when Paris will join the Priceless Cities program, launched by MasterCard in New York last summer and launched from London and Toronto. It offers cardholders Platinum &#8211; but for some offers, a Gold &#8211; privileges: previews or priority seating for events to, in the highest rated restaurants
<p> .
<p> &quot;Exclusive offers, which consumers aspire today,&quot; says Francois Gandon, marketing manager of MasterCard France. Thus, the card interest is not limited to insurance they offer &#8230; even if they are perfected. Visa is for example to review his.  </p>
<p> The foreign assistance was not playing in the event of natural disaster? This exclusion has been removed. Children of divorced or separated parents received guarantees only if the parent traveling with the cardholder? They are now protected even if they move without him. &quot;The goal is to avoid maximum disappointment of our customers, guarantees on misunderstood or exclusions that surprise them,&quot; says Emmanuel Robert, head of product offers from Visa Europe France. </p>
<p> ALSO READ: </p>
<p> &quot;The Visa card payments are breaking new records </p>
<p> &quot;Visa and MasterCard cards sold at tobacconists </p>
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		<title>Greece: the banks will suffer losses &quot;substantial&quot;</title>
		<link>http://ecopolhome.com/greece-the-banks-will-suffer-losses-substantial/</link>
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		<pubDate>Sun, 23 Oct 2011 08:44:07 +0000</pubDate>
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		<description><![CDATA[ Creditor banks in Greece will have to accept losses &#34;substantial&#34; 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, &#34;we agreed to say that we had [...]]]></description>
			<content:encoded><![CDATA[<p> Creditor banks in Greece will have to accept losses &quot;substantial&quot; 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, &quot;we agreed to say that we had to have a substantial increase in the contribution of the banks&#39; rescue of Greece, as a impairment of their claims, said the leader of European finance ministers, Jean-Claude Juncker. </p>
<p> According to diplomatic sources, the ministers agreed to effectively negotiate with the banks at a discount of &quot;at least 50%&quot; 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. </p>
<p> A &quot;discount&quot; 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. </p>
<p> &quot;It is also an effort by the private sector&quot;
<p> 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. &quot;It&#39;s pretty clear that we need a substantial discount on Greek debt,&quot; also said Saturday the Swedish Finance Minister Anders Borg on his arrival in Brussels for a meeting with colleagues from across the EU.&quot;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&quot; said his Belgian counterpart Didier Reynders. </p>
<p> 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 &quot;messy&quot; serious consequences. &quot;It&#39;s a negotiation s&#39;entame,&quot; 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. </p>
<p> ALSO READ: </p>
<p> &quot;GRAPHICS &#8211; The crisis of the euro, or the history of contagion </p>
<p> &quot;SPECIAL &#8211; Banks in turmoil </p>
<p> &quot;Paris and Berlin are seeking a solution for banks </p>
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