Cyprus is on the brink both economically and politically. Many speculate that the country, which joined the euro in 2008 to become the fourth of the area to apply for financial support.

The situation worsened with the explosion on July 11 last of a shipment of arms on a naval base. The tragedy left 13 dead and destroyed the main power plant on the island that produced 60% of its electricity. Since the disaster, Cyprus is facing a government crisis. Daily demonstrations demanding the resignation of President Demetris Christofias. To calm discontent, the latter requested the July 28 resignation of the government to conduct a reshuffle.

In addition, the economy ends up weaker than ever. The rating agency Moody's has revised its forecast for GDP growth of 1.5% this year and 2.5% in 2012 down after the explosion.It provides stability in 2011 and a 1% growth in 2012. In addition to the cost of rebuilding the plant and import of electricity in the interval – valued at over one billion euros – daily cuts disrupt an economy already weakened by the crisis. As a result, Standard & Poor's and Moody's both lowered the rating last week in Cyprus due to budgetary concerns of the country.

The banks are the Achilles heel of the Cypriots. Bank of Cyprus, the largest financial institution on the island, called earlier this week the government in Nicosia to take prompt action to prevent the country does need a financial rescue plan. "Unless we act, we risk the ability of the state to refinance and the consequences will be immediate and serious," the bank said in a statement.

The deficit is widening

Especially since the official debt of Cyprus – which accounts for about 61% of GDP – may actually be higher according to some experts. End of 2010, the agency Stock Watch estimates that the debt was around Cyprus 105% of GDP, if we include the debt of social security funds. Enough to feed all the speculation? The spokesman of the Commissioner of Financial Services, Chantal Hughes said Tuesday he was "no question of an assistance plan" because the country is "determined to do what is necessary in terms of fiscal consolidation" . However, the deficit in the first half widened sharply, reaching 3.5% of GDP against 1.9% a year earlier.

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The Paris Bourse is stabilized Friday morning after a nice session of increase recorded last night leCac 40 opens to the balance (-0.01% to 3981.96 points, still close to 4000 points a threshold that has not been touched for a month. The Greek situation reassured the financial world yesterday, as the Greek Parliament finally adopted the unpopular austerity plan, paving the way for the release of a next tranche of aid from the European Union and the International Monetary Fund. The euro has risen, moving at more than $ 1.45 this morning.

To be continued this morning Markit manufacturing PMI this afternoon and consumer confidence from the University of Michigan in June (2nd estimate), construction spending in May and the ISM index of activity in industry in June.

Investors also will monitor the U.S., where the issue of debt escalates.One report indicates that U.S. lawmakers should agree within three weeks on raising the debt ceiling, or the country will default.Timothy Geithner, the Secretary of the Treasury, would resign.

The figures in the automotive market

The Committee of French Automobile Manufacturers (CCFA) has released figures this morning the car market for the month of June and first half: the new car registrations in France fell 12.6% in June, in gross, with 210,236 units sold, Renault (-0.88% to 40.52 eruos) showing a plunge of 29.3%, said Friday the Committee of French Automobile Manufacturers (CCFA).

Renault breaks the price of his Renault Twingo, faced with falling sales, will sell for the first time one of his vehicles, the little Twingo at a price lower than the Logan, the model input range of its Romanian subsidiary Dacia, according to La Tribune.

PSA (-0.63% to 30.67 euros) is increasing in India The automaker is expected to invest 620 million euros in building its future manufacturing site in India, according to Les Echos. PSA will implement this facility in the state of Tamil Nadu, south of the country.

EDF EN signs a big contract

EDF. EDF Energies Nouvelles (-0.13% to 39.64 euros), a subsidiary of French group dedicated to renewable energy, has signed with the Danish Vestas Wind Systems for the use of wind turbines in Europe and the United States. The contract could provide the French operator up to 2000 megawatts over the period 2012-2014. The transaction amount was not disclosed.

LVMH (-0.36% to 123.65 euros).Philippe Pascal, who led for ten years, watches and jewelry division of LVMH, has been appointed adviser to Bernard Arnault, CEO of the world's number one luxury.

Areva (0.08% to 25.73 euros) said Thursday that the strategy developed since the creation of nuclear group by Anne Lauvergeon was a "success" and that his replacement did not involve a change of course.

EADS (-0.35% to 23 euros) Thursday announced the successful acquisition, through its subsidiary Eurocopter, the Canadian aerospace supplier Vector Aerospace, 98.32% of shares were made to the offer made in late May.

TF1 (0.48% to 12.60 euros) Thursday announced to be in negotiations to become the sole shareholder of Metro France, the eponymous owner of the free newspaper which claims 2.4 million daily readers.

Carrefour (-0.35% to 28.22 euros) has signed an agreement with Pixmania, the specialist in consumer electronics, to catch up in online sales of non-food.

Bénéteau (0.37% to 14.90 euros), leading manufacturer of sail, said that sales for the first nine months of 2010-2011 and the level of its order book permitted him to confirmed its target of annual turnover of 920 million euros.

BioAlliance (-4.92% to 5.80 euros) Friday announced the launch of a capital increase of EUR 16.6 million to accelerate development of its portfolio of orphan drugs in oncology, particularly Livatag .

CGG Veritas (-3.13% to 24.60 euros): Goldman Sachs cut its price target to 29 euros against 31 euros previously and released the value of its company preferred.

Teleperformance (0.96%) would be an ideal target for a fund specializing in buyout leverage (LBO), analysts said while the global call center is not in debt and that its Capital is not controlled.

Valeo (2.47% to 48.24 euros) from the list of preferred values ​​of Morgan Stanley. The intermediate course is 67 euros.

Little relief on the side of Greece in the night from Tuesday to Wednesday, the Greek Parliament gave its confidence in the socialist government revised last week – 155 votes for and 143 against (or all members present of the Opposition). Prime Minister George Papandreou will be able to set up a new austerity plan, prerequisite to release a new loan tranche of 12 billion euros, which is vital for the country.

The Prime Minister asked the members' confidence to continue to deal with the crisis and the deficit, avoid bankruptcy and ensure the maintenance of Greece in the core of the euro "was heard.The statesman had also explained that the government is committed to "putting all his strength to overcome the crisis (…) there is a perspective, a path set, we have the support and assistance of the international community and the European Union with a loan mammoth. "

This vote was also welcomed by the President of the European Commission. José Manuel Barroso said that "the vote tonight in the Greek Parliament removes an element of uncertainty into an already very difficult. This is good news for Greece and the European Union as a whole. "

For its part, the new finance minister, Evangelos Venizelos, has committed to go beyond the requirements of the European Union and International Monetary Fund, to address his country.He said Athens' needs a parallel restructuring plan "that is consistent with the objectives set by the troika, but also to enable" better on the budget, growth and social justice. "

But before that Greece must vote before June 30, the austerity plan that provides savings of 28.4 billion and 50 billion privatization until 2015. Has yet to convince the public. In fact, the call of "outraged" Greek camp to parliament, several thousand protesters gathered outside Parliament to protest against the policies of austerity and privatization of government booed the vote of confidence from Parliament.

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The U.S. textile specialist VF Corporation will put her hand on her compatriot Timberland. That's what we announced on Monday the two groups in a communiqué.VF Corp., which owns brands such as backpacks by The North Face and Eastpak, those pants Wrangler and Lee, or that of Vans shoes, putting on the table $ 43 in cash per share Timberland, a premium of 43.4% from $ 29.99 registered at the close of Friday night. In total, the offer values ​​Timberland approximately $ 2 billion. The operation, which has already been approved by both boards, is expected to close during the third quarter, according to the objectives of VF Corporation.

Timberland, which carries 50% of its international business, this year should reach $ 1.6 billion in sales.Moreover, the management of VF Corporation aims for his target annual sales growth of 10%, and believes that the transaction will be highly beneficial in its own earnings per share in 2011, but also in 2012.

An operation "transforming"

In total, the new entity is expected to exceed $ 10 billion in annual sales. On the one hand, VF account of course benefit from the presence of its target international markets, including Japan, but mainly to diversify its brand portfolio, while bringing to 50% share of its turnover in the outdoor business

The red is reasserting itself as the dominant color in Asian markets Wednesday. Since the beginning of the week, on concern the economic performance of U.S. and sealed the growing popularity of U.S. President, Barack Obama. After a disappointing set of indicators, including employment figures worse than expected, it was the turn of the Central Bank (Fed) to rub salt into the wound. Its chairman, Ben Bernanke, pleaded Tuesday for the maintenance of a "monetary policy complacent" against an economic recovery "desperately slow in terms of millions of unemployed or underemployed assets. According to the Fed, "growth should recover somewhat in the second half, but remain generally moderate. These words were very reassuring result of pull down Wall Street.

On Wednesday, the Tokyo Stock Exchange reacts in turn negatively.The Nikkei, which started on a stable note, losing 0.34% to 9410 points at a time of closing. The index is penalized by lower export values, themselves affected by a further strengthening of the yen against the dollar. The automotive sector is abused, as evidenced by decreases of Honda Motor (-1.46%), Nissan Motor (-1.02%) and Toyota Motor (-0.46%). The title Tepco, very volatile, also weighs on the side with a drop of 9.26%. In its wake, Kansai Electric Power lost 1.55% and Chubu Electric Power 3.21% loose.

Technological side, Sony is gaining 0.44% after introducing its new portable console Vita and its 3D games, while trying to forget the piracy of its network, at its conference held in conjunction with E3, the largest show dedicated to videogames, which opened Tuesday in Los Angeles.Conversely, Nintendo unscrewed from 5.96% after raising the curtain on the new version of its Wii game console, the controller now has a touch screen. Dubbed WiiU, the new console would be launched between April and December 2012, said the Japanese group, without specifying the price.

The Stock Exchange of Hong Kong and Shanghai are also in the red. the Hang Seng lost 0.93% and the Shanghai Composite dropped 0.34%. The banking sector in Hong Kong is attacked, like HSBC Holdings, which fell by 1.06%.Even the movement: the Korean Kospi 1.34% loose, the Australian S & P lost 0.43% and the Indian Sensex down 0.35%.

Oil on a mixed note

Oil prices were without direction Wednesday in electronic trading in Asia, in expectation of an OPEC meeting in Vienna in the day that might decide to increase production.

In morning trading, a barrel of light sweet crude for July delivery took 7 cents 99.16 dollars. That of Brent North Sea crude for delivery same retreated 48 cents to 116.30 dollars.

Assists Is there a pause of flexible response? The Hadopi decided to "suspend its Interconnection with Trident Media Guard (TMG), the company Nantes mandated by the rights holders to monitor P2P networks for the exchange to" flash "French Internet users currently downloading works monitored.

The decision comes after the computer security specialist Olivier Laurelli, better known on the Internet under the pseudonym bluetouff, revealed this weekend, several security holes on one of TMG servers. In the files have been found many IP addresses of French Internet users, "ID" of Internet-connected computers. However, these data should be secured.

"Precautionary Principle"

"We apply the precautionary principle," says the Hadopi Figaro.fr. "We do not know what is actually happening in servers TMG.But we do not want to risk an intrusion into our system and personal data it contains. "

Presently, TMG sends daily Hadopi records IP addresses of surfers caught in his nets. The High Authority then decides whether to send a warning email to the owner of the Internet line in question and is the first step in the graduated response. With Monday's decision by the highest authority, the transfer of information between TMG and Hadopi is now suspended indefinitely.

Customers can they download with impunity the time of the suspension? The Hadopi like to moderate the joy of some users. "TMG can retain data for some time.If we restore the interconnection sooner, then all records of addresses made since Monday will be considered by us. "

TMG minimizes the impact of the fault

According to a report of the CNIL, "the data collected [by TMG] are cleared during the night following the confirmation of receipt of referrals by Internet Piracy, usually 24 hours after the collection of this information." If data are not passed, it will "also destroyed 24 hours after collection.Therefore, if Hadopi decides to reestablish its connection with TMG Wednesday surfers flashed in the day on Monday not risk anything, since the data has been erased by TMG Tuesday at midnight.

TMG has defended his part in a press release stating that the flaw disclosed by bluetouff "comes from a test server of society" and that "the infrastructure used by GMT as part of its operations were not impacted. "Therefore," no confidential data and personal has been published on the Internet. "

The rights holders should expedite an expert report from TMG very quickly, according to Internet Piracy. "Everything must be put in clear," says one at the headquarters of the supreme authority.

Keeping promises cons of VAT at 5.5%. Two years after signing a first contract between the restaurant and the government, and a mixed picture, professionals have made new commitments for the next four years.

Unsurprisingly, efforts will focus on employment. At the meeting held Thursday with the government, restaurateurs have promised to create 20,000 jobs annually by July 2015, or 80,000 jobs. They also pledged to improve learning and increase their investment of 25% to bring it to 5 billion euros in four years. Objectives labeled as "ambitious" by the Secretary of State for Consumer Affairs, Frederic Lefebvre, yet precarious.Conservators have warned the Government that a return to the VAT increase beyond 5.5% would free them of these obligations.

Consumers should not expect however to reap the benefits of lower taxation credit reports free. Conservators have preferred to remain cautious on this point for fear of receiving new criticism. Last year, the Court of Auditors had indeed criticized the lack of repercussions on the tax benefit customers. According to his calculations the dividend would have been only 2.15% instead of the 3% expected.

On Monday, the Organization for Economic Cooperation and Development (OECD) has decided against another reduced rate of VAT. In his report on France, "the application of standard VAT rates to expenditures for maintenance and renovation" for housing, ie 19.6% and not 5.5% as at present.

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The French car market is still enjoying the effects of scrapping. The Committee of French Automobile (CCFA), which publishes monthly figures of registrations, announced Tuesday that the French car market surged 13.7% in February 2011 compared with same month of 2010. The month of February 2011 had a comparable number of working days than in February 2010. In total, 204,486 cars were registered last month. In January, volumes were up 3.1% at comparable number of working days to just over 185,000 units.

In detail for the month of February, the French and foreign brands have failed to decide between these two groups displaying similar jump of 13.7%. French side, the Renault group (including Dacia) saw its registrations increase by 13.6% last month to 55,185 units.PSA Peugeot Citroen, meanwhile, has registered 68,658 new registrations, an increase of 11.1% compared to February 2010.

On the front of the foreign automakers, Nissan's registrations Japanese have literally soared, jumping 51.4%. With a good increase of 36.2%, GM Europe is also doing very well in France. Like its competitors Volkswagen (+28.5%), Toyota (+18.5%), Hyundai (+13.4%) and Fiat (+9.9%). Mercedes, by contrast, displays the largest gadin February. Its registrations have flinched from 31.2%.

New vehicle sales continued to benefit from the scrapping, but also new orders in January, told AFP Francois Roudier, communications director of the CCFA. "We still have orders" in January. The tone was less pessimistic than you could imagine, "he added.December was the last month to take advantage of the scrapping in France low interest rate personal loans. It was also marked by record orders, which have soared 30% to 370,000 units.

Delayed effect of scrapping

Manufacturers have theoretically until late March to deliver the ordered vehicles. Therefore the scrapping continues to have a delayed effect on registrations. But with the end of the last public support, 2011 should be marked by a relapse of 10% of the French automotive market and a stabilization across Europe, analysts said.

The amount of scrapping was lowered gradually from 1,000 euros in 2009 to 700 euros in January 2010 and to 500 euros last July. This has weighed on registrations last year. The French car market has declined steadily since April.In the year 2010, registrations fell 2.2% in France, to 2.251 million units, after a record year in 2009, during which car sales jumped by 10.7% over 2008.

Aftermath of the disappearance of this device, the household consumption of manufactured goods fell 0.5% in January, according to latest figures released by INSEE. Auto purchases declined 6.3% last month.

In exchange, 12.30 auto market figures for the month of February were greeted in a dispersed manner: Peugeot won the title and 2.03% to 29.60 euros, while Renault lost 0.36% to 44 , 25 euros. As for suppliers, Michelin gave up 0.31% to 58.82 euros, while clinching Faurecia 2.57% to 28.90 euros. Between the two, Valeo fell by 0.27% to 44.98 euros.

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Only a handful of very senior diplomats is concerned. But the symbol cringe, while the government has hammered in 2010 he had to work late to save the pensions and deferred the legal age. The Foreign Ministry is finalizing a system accessible to early retirement from 58 years to its executives.

The draft order, as Le Figaro has obtained, will be discussed Feb. 28 at the High Council of State Civil Service, the final step before publication. It will allow "plenipotentiaries" and "Foreign Affairs Adviser hors classe" (a few hundreds of diplomats for the functions of ambassador, consul or important director at the Quai d'Orsay) to receive an "end device activity "for six months to three years.Volunteers will receive a "special allowance of departure" and keep "equal pay in the amount of treatment indicial (…) plus the allowance of residence in Paris." Clearly, any salary excluding bonuses. The sum will be partially combined with income from employment in the private but also in a public company or an administration.

Conversion

The device opens up to 30 diplomats, who have until the end of 2013 to be candidates. This, the ministry said in a report annexed to "deal with overstaffing (…) related to a particular pyramid unfavorable." The same purpose had led to the same device, open to 20 diplomats in 2008-2009.

In a preparatory meeting to the Board, "the department's representative explained the need to respond if a hundred diplomats, said one trade unionist low fee payday loans.About 60 are on mission to the Quai d'Orsay, without that we know very well the nature of their mission, others awaiting assignment. In other words, paid to do nothing – often against their will. "The ambassadors are appointed by the Council of Ministers, these are very political positions, decrypts a connoisseur of the administration. Much of these diplomats are "underutilized" in Paris as labeled on the left. "

Today Minister of European Affairs, Laurent Wauquiez ensures not forgotten about his recurring on the necessary "cultural revolution" in employment of older workers, when he was Secretary of State for Employment. "The goal is that 100% of beneficiaries are switching, certainly not that they cease any activity," he assures.In the past, some have become consultants, gallery owners … "It also justifies the device by" reducing the number of posts of ambassadors, parallel to the "opening – necessary – these posts to non-diplomats." Recent examples: Serge Lepeltier, former environment minister, last week appointed ambassador "climate" in lieu of Brice Lalonde, and Jean-Christophe Rufin, a doctor, writer, ambassador to Senegal from 2007 to 2010.

For the final night of the year, conservators will be more motivated to put on their 31. New Year's Eve is with the 1st May and Mother's Day, one of their biggest day of the year. However, far behind the Valentine's Day. Nothing like Christmas Eve, a family night that the French prefer to spend them at home. "Attendance at the restaurant for Christmas Eve December 31 is ten times greater than that of Christmas Eve, which tends to decline," said Bernard Boutboul, CEO of consulting firm Gira Council.

Some institutions are already rubbing their hands. At the Plaza Athenee, for example, is complete. December 31 is the biggest night of the year the Parisian palace. A time when customers like to have fun by offering very good wines, in addition to the rest.ADPA in the restaurant (Alain Ducasse at Plaza Athenee), the last of the 50 seats left three weeks ago. Count 1,200 euros per person with drinks. At the bar, from 1,200 euros, you have a table for the evening with a bottle of champagne. Also complete. There is room … for children only. The palace holds for them a luxury Eve, for 290 euros.

In Paris always, it is also complete since last weekend at The Station, a trendy restaurant owned by the Groupe Bertrand. There is forced menu at 95 euros, with champagne, appetizer, entree, dessert, coffee and evening DJ. But many institutions are not so lucky. And some may live in fear of the empty chair until the last minute. Restaurateurs know: consumers tend to decide later and later, convinced that there will always be a place somewhere.Even for the evening of New Year's Eve, some do not hesitate to book the same day. In fact, more concerned about the profession this year is the weather. Snow, and all the mess she created on the roads in recent weeks, has already affected the attendance of December. Conservators are helpless to fight against a new snowfall on December 31.

Jean-Michel Texier, CEO of White Brothers Group (27 restaurants and eateries, Chez Clément, Le Pied de Cochon …) shows a delay of 5% to 10% of bookings compared to last year.According to him, precisely because "people are worried about the weather" as the group has made an effort on prices, by lowering its tariffs by 10% to 15% over 2009 (count 70 to 140 Euros the evening as addresses).

As a year to the next group of institutions will eventually be complete, it remains confident for 2010. "All restaurants are open to full, except those who have abused the price," Bernard Boutboul prognosis. He said the evening of December 31 costs at least EUR 60. Count 120 euros in an upscale restaurant. This price has barely budged over the past ten years. "People go out more to celebrate than to eat," says this expert. According to him, those who persist in making special menus too rich and too costly are wrong because, in general, we find that prices fall more and more attendance goes up at the restaurant.

Adding 30% more

"In general, for New Year's Eve, the average ticket is higher by about 30% compared to a classic evening, said Jean-Michel Texier. But profitability is not progressing as much as we have some additional costs (orchestras, extras …). Some institutions, more and more, will pass up, according to Bertrand Jelensperger, founding partner of TheFork website, which offers reservations, some at bargain prices, in 4500 restaurants in Paris and the provinces. This year, 25% of its clients are closed, either because they are on holiday, either because they do not want to transform their schools for partying. He predicts that only 50% of restaurants with whom he works will be full for the last night of the year. It is far from the evening of Valentine's Day.