For summer 2012, Greece seems any destination found. Each French, the centenary of the infant, does he not have a credit of just over 1000 euros? This is because the amount of debts of the French state vis-à-vis Athens. These figures naturally attain a new flavor since the output of the euro in Greece is no longer a taboo subject.

The amazing thing is that their magnitude and surprise us that the public do mine to discover. Certainly, the record may seem terribly technical. Quite wrongly. Because at the end for the aid to Greece, they pass through the ECB or the European Financial Stability Fund (EFSF) was created in 2010, is always reduced to public funds made by the States and their taxpayers.

Just before leaving his post as finance minister, Baroin said so too cursive that if Greece were to fail, there would be a "net" loss of 50 billion for our public finances. The potential risk actually rises to 66.4 billion euros if we take into consideration all the circuits in which the French state is involved. Nor our partners Euroland (each depending on the size of its population), but not less.

Three-stage rocket

We use here the estimate we have communicated Eric Dor, the research director of the IESEG School of Management in Lille, which has the merit of being comprehensive. You have to imagine a three-stage rocket. The first and simplest is direct bilateral aid, decided in May 2010, when it came to light that Athens could no longer finance its debts in the financial markets. The total program is 80 billion euros, 52.9 billion were actually loaned, the French share standing at 11.4 billion euros.

The second stage uses a more sophisticated financial techniques. The European Financial Stability Fund (EFSF) borrow on the markets and relending to countries in need. But this is just a dummy account. If Greece should become defective, the EFSF would turn to the states that are the guarantor, and they should bail out pronto. French commitments in respect of Greece now total 22.5 billion euros.

The third floor, the tip of the rocket, is the Sioux and for the European Central Bank. Central banks are often presented, especially in France where we love to believe in miracles, as "deus ex machina." Do not they have the power to create money "from scratch" and fund banks, and why not states, as would today Francois Hollande? The ECB has paid with his person in two ways. First, she bought in the markets of Greece's debt to the tune of 45 billion euros. In case of default, such securities would lose much of their value if not all. The ECB would have to be recapitalized by its shareholders (Banque de France, Bundesbank …), their own properties States. Where a potential loss of 9.8 billion to French taxpayers.

Second channel used by the ECB, it helped Greece even more heavily in providing liquidity to commercial banks in Greece. This was done in exchange for securities that served as collateral (collateral in technical terms). In total, these contributions amounted officially to 104 billion at March 31, 2012. If Greece were to leave the euro and adopt the drachma, the collateral would be worth almost nothing. The potential risk for the French is estimated at 22.7 billion euros.

A "solidarity principle" sacrosanct

This is so schematic, the public debt of France. These elements of analysis are quite formal. One only wonders why the parliamentary assemblies have never produced a complete synthesis.

"It is our collective money is at stake. An attack on one country is an attack on the entire group, "explained Christine Lagarde, Minister of Finance, the National Assembly in spring 2010. This reminds the billboards to "sell" the Russian loans to investors of the Third Republic: "Lending to Russia is to pay to France."

In September 2011, the National Assembly voted as one man French participation in the second bailout in favor of Athens, on behalf of a "solidarity principle" sacrosanct. A senior ECB official told us recently his amazement, when he visited a prominent official of the Finance Committee of the National Assembly: it does not even remember the amount of commitments made by France EFSF!

This is "the unbearable lightness of being" French politician who reasons in terms of symbols always and forever depending on the nature of things. It is far from substantive discussions of the Bundestag and the Constitutional Court in Karlsruhe, presented in France as troublemakers around in circles. While they are only defending the principles of law and fact, the German public was heard of the case. "Avalanche, would you take me in your fall?" Sighs one with us.

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The first rule in litigation is always trying to find an amicable solution by promoting dialogue. Also, after a finding, it is important to make contact quickly with the adviser or broker in charge of your case. This is an opportunity to obtain justifications and make your point of view.

This is unfortunately not the most common. However it is often popular with insurance companies and after clarification of the parties it is common to reach an amicable agreement.

Associate with other insured

If dialogue is not possible to reach an amicable resolution of the dispute, it may be worthwhile to use associations insured or consumers. This helps to make contact with others who are insured in the same situation vis-à-vis an insurance company. Often, litigation, unity is strength and it can exert more pressure on companies.

Think about the contradictory expert

Often, litigation auto insurance regarding the amount of compensation offered by the insurer. To the extent this amount is mostly determined by an expert, do not hesitate to ask an expert opinion. To do this, simply to mandate an automotive expert at your expense. If the contradictory expert reveals large differences with the report which the insurance company, a third independent expert will arbitrate the dispute.

Namely: the cost of third-party expertise are shared between your insurance company and you.

Hiring a mediator

Completely independent, the mediator of insurance and free intervenes as a last resort. Also, other remedies must be exhausted amicable and should not be any legal proceeding.

To take advantage of his speech, just submit the matter to the mediator of insurance by registered letter with acknowledgment. This folder should contain all parts necessary for the proper understanding of the dispute as well as information regarding the insurance company.

Note: the decision of insurance ombudsman does not require the insurance company but is a strong case if a prosecution should be initiated.

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SERVICE:

"Buddy up CPLUSSUR.COM by our experts to help you choose your best auto insurance policy.

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's battle plan. It comes in three areas: promoting healthier recipes to the menu (chicken, fruit smoothies …), 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.

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'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's.

The growing strength of Wendy's has been attributed to its new range of sandwiches more upscale and upgrade its stores, operated in 2011.

The snub did not extend to the international market, where Burger King is an undisputed number two easy payday loans. The chain is present in 81 countries through 12,500 of which only 1,300 are restaurants owned.

By expanding the franchise

Both franchises expected to widen again over its international expansion. In late 2011, Burger King realized indeed still two thirds of its revenue – $ 2.3 billion versus 2.5 billion for fiscal year 2010-2011 – North America.

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's partner Burger King in Italy, is expected.

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.

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Corsairfly becomes … Corsair International. "A change but not revolution," agrees Pascal de Izaguirre, CEO of the airline of TUI. The leaders of the giant European Tourism chose a facelift to revive the company acquired by Nouvelles Frontieres in 1990 when Jacques Maillot was at the controls. At the time it was called Corse Air International

.

Everything has changed since: the German TUI shareholder meeting in France Marmara Tourinter, New Frontiers and renamed the airline Corsairfly stripped a quarter of its workforce … He has invested hundreds of millions of euros to transform the old a charter company whose regular cabs devices have been fully refurbished mid-2013 with a budget of 36 million euros.

Financially, the subsidiary of TUI could not afford a complete change of name: "Rather than spend a fortune to switch brands, it is better to devote resources to what the customer appreciates the ground or on board" , says Pascal de Izaguirre CEO of Corsair International.  

Erase the image and low-cost charter

A budget of 2.5 million euros will be spent on change of visual identity (logo creation, uniforms, aircraft painting). The first plane scratched white and blue logo of the retro graphics will be delivered in July. The other six, including two new A 330 will follow until mid-April 2013.

But another reason is given by the CEO of Corsairfly to explain the lack of boldness in the choice of name: "The Corsair brand is extremely well known. Hostesses and stewards are known to be friendly and smiling. "The old company Nouvelles Frontieres is certainly an image associated with cheap, but also a Spartan comfort.

"Corsair will celebrate its 31 anniversary this year, little known company such longevity, defends Pascal de Izaguirre. Many have disappeared, new arrivals are. We remove the "fly" but also the name of "smiley" logo TUI, not to hide our group membership, but to erase anything that might suggest the charter or low cost. "…. ….

The team of TUI wants to play the card of elegance, high quality services, while remaining competitive on price. The number of seats "open sea" (comparable to a business class) increases from 24 to 36 in the Boeing 747 and 18 to 26 in the A 330. "We have invested heavily in-flight services, airport lounges to Orly, Pointe-à-Pitre and Fort de France, and soon the meeting …"

New destinations

The relaunch of the company scheduled two years ago falls to one of the worst periods through which the world of air: the rates are low while the cost of jet fuel has stabilized at a very high level that weakens companies.

"This does not undermine our vision and direction, says the CEO of TUI France. We are currently addressing the structural problems of the company and it is not challenged by economic factors. TUI, our shareholder, has powerful resources. He made a choice that takes the long term. "

Corsair International will also review its destinations in September, the company will cease to serve Miami. Instead it will open a line to Punta Cana in the Dominican Republic, a destination that has grown 15% since the beginning of the year.

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PSG collects records! The Parisian club has made the biggest transfer in buying Argentine Javier Pastore 42 million and the club was the biggest spender of all Ligue 1 last summer by investing over $ 80 million. This winter, PSG has hired three months ago the highest paid coach in France in the person of Carlo Ancelotti paid over $ 6 million per year then the club has spent the most money in Ligue 1 last winter (more than 18 million). Accordingly, in June, the capital club could show, according to Le Parisien, the highest deficit of all clubs of the elite of French football: € 100 million! For the 2011-2012 season, the direction of the PSG is expected to generate 100 million euros in revenue while its expenses are expected to reach 200 million. Half of which are transfers.  

The Parisian club had ancipité mid-season losses of 40 million-which, incidentally is also a record for the Ligue 1. But meanwhile, PSG sacked coach Antoine Kombouare to 4 million, hired a new coach and his staff of half a dozen people, recruited three new players and paid premiums of collective and individual matches.

Germany as a model

Anyway, it would be very bad news if it was confirmed that UEFA will then point at the end of the 2012-2013 season on the accounts of European football clubs. "Clubs must present a cumulative deficit of 45 million euros, said Andrea Traverso, director of financial fair play in UEFA." If this is not the case, the offending clubs face penalties ranging from simple financial penalties up to exclusion from European competitions.  

This perspective does not seem to scare the president of PSG, Nasser al-Kelaïfi, who plans to spend on transfers 100 million euros a year for "five or six years" in an interview with Italian newspaper Gazzetta dello Sport. "I expect a restless summer transfer window next to PSG to do well in the European Cup, but for the transfer markets following the Parisian club will not need to spend much money, says Vincent Chaudel, sports specialist at Kurt Salmon. PSG also must have some stability also sports ". So why is this statement? "The club has an obligation imposed by the results of Qatari shareholders, given the amounts invested in moves, he says. Through this declaration, the President shows other European teams and players who could join him next summer he has the means of its ambitions. "

To offset these significant costs, the Qatari leader expects that the club improves "its revenue marketing, TV rights and ticket sales including" and thus make a profit "within five years." That only the German club Bayern Munich was able to achieve in 2010-2011 with a profit of 1.3 million. In football too, Germany is a model.

• President Sarkozy does not want to copy Germany

Nicolas Sarkozy reaffirmed the importance of a strong Franco-German axis. "If Europe is strong today is because Germany and France have made compromises," the president said in an interview with Angela Merkel crossed, broadcast Monday night on France 2 and German TV ZDF. "Germany has made compromises on the government economic and France on budgetary discipline," he added.

"There is no question of copying the German model but converge to it. It is important to build on what is happening outside: we envy Germany in its ability to gain share of the export market, and Germany want our social model. "Criticized for its excesses rigor at the expense of growth, Merkel said simply: "It is harmful to oppose fiscal discipline and growth. The fiscal pact not against growth, "she said.

• Nicolas Sarkozy's admiration and friendship for Chancellor

Answering the question of his relationship with the German chancellor, the president told his feelings: "Yes I have admiration for someone who leads 80 million Germans during the crisis (…) yes I have an affection for her, "he said, insisting that he and Angela Merkel" N (s) here to (their) duty. "

• Angela Merkel supports political Nicolas Sarkozy

Monday morning, the German Chancellor has supported political candidate – not reported – for president Nicolas Sarkozy at the 14th Council of Ministers Franco-German payday loans with no fax.

In the evening, during this interview, she explained: "I support Nicolas Sarkozy on all levels because we belong to parties friendly." Merkel said that the French president had come to also support by participating in 2009 to one of his rallies in Berlin, a few months before his reappointment as head of the German government.

Asked about whether she will receive the socialist candidate for president Francois Hollande, Merkel said that "there is nothing to (was) decided yet." "Mr. Steinmeier [Social Democratic candidate for chancellor in 2009] had not been received in France," she said, adding: "We have other problems to solve."

• Nicolas Sarkozy defends Claude Gueant

"It's a ridiculous controversy," said Monday the head of the French state on the wave of indignant reactions provoked by the remarks of his interior minister, Claude Gueant, who said Saturday that "all civilizations are equal. " "The interior minister said that a civilization, a scheme, a company that did not grant the same place and same rights for men and women, it did not have the same values. It's common sense, "he said. "If we want to not argue, it would save us much time to lose," added Nicolas Sarkozy.

By buying in May, 70% share of the capital club for just over 30 million euros, Qatar Sports Investments (QSI) ushered in a new PSG financial sphere. "Lyon brought an offering in February 2007, 28% of its capital to 100 million euros, valuing the club at 360 million, said Vincent Chaudel, expert sport at Kurt Salmon. For its part, the Parisian club would be valued 50 million. Is it more than six times less than Lyon? I'm not so sure.Potential, if only as local, is enormous. "

"Manage your club is good, investing is better"

For its part, the main shareholder of the OM, Margarita Louis-Dreyfus was clear: "I am neither my husband (Robert Louis-Dreyfus died in July 2009 and former owner of Marseille) or Qatar," Has she told the world last October. In other words, it does not align the euro as easily as the Qataris. "Manage your club is good, but it's better to invest a club like OM, which is dependent on the income earned by the Champions League. And if he does not qualify for this competition, losses can reach 20 million. Which, for a budget of 140 million, is not negligible, "said Vincent Chaudel.

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.

Geraldine Rieucau – No, of course. Recruiters are not disrespectful majority of candidates. Otherwise, they failed to provide proper offers. As everywhere, there are good and bad recruiters. But even if we should not generalize, this documentary is still evidence of practices that exist: infantilization of candidates, the will to destabilize the discrimination of certain profile, a contempt for the job seeker is attitudes that we observe, more and more.

Why?

There is always a balance of power between the recruiter and the candidate. The nature of recruitment created an inequality between the two parties. But several factors have increased the imbalance.The economic crisis first, which has intensified competition among candidates, and allows the recruiter to demand more from them.

And then for various reasons, recruiters are placing more and more importance to the personality of the candidates, so that this criterion sometimes takes precedence over qualifications and skills. And the grounds to see how a candidate is resistant to pressure, some were quick to destabilize or to make uncomfortable.

Consequence of these two factors, the motivation of the applicant has become an essential criterion payday advance low fees. But behind this concept, what the recruiter wants to know is whether it will be often enough finally available and ready to work overtime, etc..

Recruitment firms are more they implement these bad practices?

No, I do not think so. An employer, an HR department is just as likely to skid.But it is true that firms, whose service is costly, are often called upon to fill management positions in CDI. The recruiter will then spend more tests, more pre-select candidates … But be aware that less than 3% of hires are made via a recruitment agency. Conversely, 40% are the result of an unsolicited application.

The discourse on the fight against discrimination mean in reality?

For 10 years, recruiters are clearly more careful not to discriminate on criteria visible. But there are forms of indirect discrimination that persist and are very difficult to control. When an employer requires its future employee lives near his work, for example.

Overall, large firms have more ways to avoid discrimination.This often led to further standardize recruitment, to centralize procedures. The human resources sector has benefited: the U.S. example, the size of the sector and the influence of RH increased sharply with the policies of "Equal Opportunities".

The Europeans hoped "a dialogue between friends," the Americans had "no arrogance." Las. With the destabilization of markets and growing concern on both sides of the Atlantic, the U.S. Treasury Secretary, Tim Geithner, could not resist lecturing his seventeen counterparts in the euro area gathered Friday to Wroclaw (Poland).

The relief provided by five central banks – including the U.S. Fed – banks in the euro area will not long concealed the absence of concerted policy response to the crisis. On behalf of the Europeans, the President of the Eurogroup Jean-Claude Juncker declined projects Tim Geithner, citing "differences in approach with our American colleagues."Treasury Secretary, he has put his finger where the euro hurts: he publicly expressed concern "of the conflict between governments and the European Central Bank," a week after the sensational resignation of the Chief Economist of the ECB .

Barack Obama's America, soon launched a presidential campaign, fearing a collapse of Greece, a contagion to European banks and a possible fracture of the euro area. If the crisis deepens, it is the U.S. economy would suffer the backlash, shock reverse of that which had hit Europe after the collapse of Lehman Brothers in 2008.

The first message in Washing-ton is to push the Europeans to speak with one voice and act decisively. "Governments and the Central Bank should work together (…) to avoid catastrophic risks for financial markets," said Treasury Secretary.And he insists, denouncing the cacophony that destabilizes the common currency: "Everyone should also abstain from loose talk about the end of the euro area." Targeted: the proponents of expulsion from Greece …

Denial of a tax on financial transactions

The unprecedented invitation launched by Poland – host country because currently presiding the EU – Timothy Geithner had anything to embarrass, in turmoil, the finance ministers of the euro no fax payday loan. We saw Baroin host the head of U.S. Treasury of a strong handshake in Wroclaw. But the Euro has carefully kept at a distance. He has not formally participated in the circle, but a "preliminary conversation" about an hour. Contrary to custom, he did not sent to journalists.To tell his truths to Europe, he preferred an audience of bankers in another part of town.

Some did not take gloves to say that Europe has no lessons to learn. The United States, collapsing under the deficits should put their own house, says the Belgian Didier Reynders. "America has nothing to dictate when the person refuses flatly our suggestions," added the Austrian Maria Fekter. It is true that Tim Geithner repeated Friday his opposition front to the tax on financial transactions carried to Paris, Berlin and Brussels.

Decisions deferred

For the second time in eight days, Treasury Secretary left Europe empty-handed. Friday, the Europeans have made a face at her suggestion to "leverage" means the EFSF, the bailout fund for countries of the euro in difficulty."This is not a subject that is discussed with a country outside the EU," Jean-Claude Juncker meant. Same end of inadmissibility of the American idea of ​​supporting the growth of public funds "even a donkey does not stumble twice on the same stone, 'says Didier Reynders, convinced of the urgency to fight first against the deficits.

For the Americans as to Europeans, the European event in Wroclaw ends with a disturbing sense of incompleteness, even for emergencies. The Eurogroup has pushed to mid-October a decision on payment of 8 billion euros to Greece. He did not reach an agreement on guarantees that Finland requires Greece.