For a time, Athens can blow. After a meeting in Brussels, the seventeen ministers of finance in the euro area have given their approval for the payment of the sixth tranche of aid to Greece. At a cost of 8 billion euros, it should help support the country, public debt has recently passed the threshold of 160% of GDP. Initially, Greece will receive 5.8 billion from the euro area, yet the remainder dependent on the approval of the International Monetary Fund (IMF).

Eagerly awaited the release of the envelope is part of the plan of 110 billion euros agreed in May 2010.This decision allows especially on track to the second rescue plan prepared in late October, to be finalized between the Greek Government and private creditors in early 2012 best payday advance.

A sign of confidence

For the new Greek government, this decision is also similar to a pledge of confidence in the euro area for the implementation of austerity measures which the aid was conditional. Athens has also worked hard ahead of the meeting date. In a statement released this afternoon, Evangelos Venizelos, Greek Minister of Finance, has assured that "all the necessary conditions" for the new aid program had been met.

It must be said that the release of the tranche was delayed several times.

Please remember that a payday loan is a rather expensive line of credit. Much like taking something to the pawn shop.

The Socialist Prime Minister George Papandreou said today to be sure that his party would leave Greece to the economic crisis and debt at the national conference of the Greek socialist party (PASOK). "We continue the battle, not only because we believe that there is no alternative, but because we trust in our capabilities in the capabilities of Hellenism, in the possibilities of our country .I'm sure we will succeed, "he said in his speech.

2013 Goals

"People will judge us in 2013, and until then, we not only managed to get Greece to the crisis, but we have also implemented many important reforms that will lay the foundation for a different evolution of Greece in the future, "he said, cutting short the rumors of early elections.

The Prime Minister also accused the previous Conservative government to be primarily responsible for the current financial crisis. The spokesman for the main opposition party New Democracy, Yannis Mihelakis, immediately reacted. "He (George Papandreou) recognizes the economic impasse, but says nothing about its policy, which destroyed the economy and society," he retorted.In a report released Wednesday, a parliamentary commission of experts also found that the debt was Faxless payday loans.

"Satisfactory progress"

Last year, Athens has received an aid package of 110 billion euros of the European Union (EU) and the International Monetary Fund (IMF). At their summit on 21 July, the euro zone countries have agreed to pay a new loan, plus a share of the private sector on a voluntary basis, for a total of 50 billion euros. Representatives of the "Troika" (EU, ECB and IMF) mission in Athens Friday to advance structural reforms in the country.

Several media have interpreted the departure precipitated considered representatives of the EU, the IMF and the ECB as a clash with the Greek Government on the extent of the effort to provide rigor to continue fiscal consolidation.But such a break was denied both by the Ministry of Finance by the troika.

She spoke in a statement of "good progress" in talks, saying had "temporarily left Athens" to "allow the authorities to complete their technical work" related "to the 2012 budget and structural policies to strengthen growth."

(With AFP)

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Half of the historic buildings owned by private individuals. Listed or registered, these buildings are part of the national heritage and the 1913 law on historic monuments, heritage built into the Code, provides the financial support of private actors to help their conservation.

Owners who wish to make a historic monument restoration work can get state funds through the Regional Directorates of Cultural Affairs (DRAC) and regional and general councils. The granting of funds by the first condition for most of the time the agreement of local authorities.

Restoring an identical

The first step is to validate the work projects by the DRAC. An architect of the buildings in France will check that it is a restoration project at the same rather than maintenance and repair ordinary.The architect must also approve the selection of the contractor responsible for carrying out the work. It must have certification awarded by Qualibat every five years.

Permission to work obtained it takes on average within six months – the owner can take the steps to apply for funding from the regional conservation of historical monuments, decentralized service of the Ministry of Culture responsible for allocating the funds allocated each year by the state. The need to restore or the urgency of intervention, will be crucial in the decision. The DRAC Ile-de-France added that the progress of the project is also examined.Hence the importance of presenting a solid case together with plans, photos, specifications, implementation schedule work …

The association La Demeure Historique, one of the two organizations accredited by the state, began to identify in a report the amount of financing obtained by the private owners of historic buildings through co-financing public (state and region). The latest figures available are for 2008 and set the total amount of funding allocated by the DRAC to 20.5 million euros, 15 million for listed buildings and 5.5 million for the monument included in the supplementary inventory.An amount up slightly from 2007 but well behind the 30 million allocated in 2000.

Isabelle de Charnace, following the request for public subsidies for La Demeure Historique association, said the 1913 law provides for the payment of a grant of up to 40% of the total work to a listed building and 15 % for a monument inscribed payday loan. "In practice, it is far from reaching these numbers consistently, but it is important to get not even one euro of subsidy," said she. The downstream of the DRAC has a twofold consequence. The first is tax because it qualifies for the tax deduction of 100% of the work. Without subsidies, the owner has the right to deduct only half.The second is that it generally serves as a passport to get help from the regions and departments.

Regions and departments

Figures published in the report of La Demeure Historique reveal a variety of situations from one region to another. In 2008, 11 of the 21 regions surveyed (the data on Corsica and overseas territories are not included), have paid any subsidy. In 2010, the number rose to 14. According to the association, this disengagement is due to the fact that the regions consider that they must give priority to financing the public patrimony. They also prefer to intervene to save the monuments unclassified through the Heritage Foundation.According to the latest figures only 55 operations have been financed by the regional councils in 2008, against 197 in 2005.

The total amount of aid allocated, however, is virtually unchanged: 3.310 million euros in 2005 and 3.206 million euros in 2008. The award criteria are also very different from one region to another, some requiring the opening scene to the public, participation in events, or the mere possibility of admiring the monument from the public way. In 2008, the regions with the most generous private monuments were Auvergne (2 million for 28 projects), Britain (547,000 euros for 19 projects) and Haute-Normandie (340 000 euros for a project).

As for general tips, 28 of the 87 who responded to questionnaires (out of 91 respondents) did not grant any subsidy to private monuments.Four departments have even enacted regulations removing the ability to finance operations of tells. They are still more generous than the regions participating in the total funding of 475 operations for 6.734 million euros. An amount in free fall over the year 2003, when county councils were given more than ten million.

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Nicolas Sarkozy and Angela Merkel arrived in the morning Thursday in Brussels after a marathon negotiation began in Berlin late Thursday afternoon and was to end in the Belgian capital in the evening. Wednesday evening between Angela Merkel and Nicolas Sarkozy, an agreement was set with the EU Presidency of Herman Von Rumpoy was then allowed to leak the outline in the morning, causing a positive market.

"Stock markets have been reassured by the existence of an agreement between Berlin, Paris and the ECB," says a close friend of Nicolas Sarkozy. The working meeting between Sarkozy and Merkel – "seven hours without interruption," according to the entourage of the head of state – was not enough to win the unconditional adherence of the fifteen other members of the euro area. "Many arrived without having in mind the highly technical aspects of this case. It took a lot to explain.Everyone wanted to be sure you understand the mechanisms involved, "said a relative of the head of state. Despite negotiating a lot longer than expected, counselors diplomatic head of state felt to hold the right end on Thursday night. "This agreement is a strong political message, for two reasons: it reaffirms the determination of the euro area does not drop Greece, and overhaul the European Stabilisation Fund, giving an additional area of ​​intervention" , we summarized in the entourage of the Head of State, on the sidelines of the meeting.

Over economic governance

Forced to stay away from microphones and cameras so as not to upset her "friend Angela," Nicolas Sarkozy has continued to play the conciliator between the requirements of the European Central Bank and those of Berlin, a role of "critical" that greeted elsewhere Yesterday a French banker."Angela is always careful not to get caught up too far," says Nicolas Sarkozy often. "It is more tactician, it is more a strategist," said one of his advisers. Strategist, the head of state to be tried since the beginning of the second Greek crisis, reaffirming the need for a strong political gesture in favor of a higher degree of integration of European economic policies. "This is the landing point from the beginning," says a consultant. If Angela Merkel wants to put Europe at the German time, imposing fiscal discipline, Nicolas Sarkozy intends to Chancellor at the time French, into accepting more economic governance. Seen from Paris, the summit held Thursday crossed then a further step towards integration and convergence of European economies."For several months, France blew up the clause of the Lisbon Treaty, which prohibited the bailout of a failed state. This allowed us to intervene in Greece, Portugal, Ireland. She obtained the creation of a European background stabilization, and modification of the Stability Pact, adding a preventive and a macro component. Without this component, Ireland could not have been brought to heel. Finally, we pushed for the creation of a pact for the euro convergence and competitiveness, "says a close adviser to the president to measure progress. "All this was unimaginable a year ago," he says.

The World Trade Organization (WTO) condemned yesterday for China's restrictions on exports of raw materials. The complaint was filed in 2009 by the United States, the European Union and Mexico, who felt the measures taken by Beijing to limit its sales abroad discriminatory. The Middle Kingdom is, indeed, the world's largest producer of gold, iron, lead, manganese, phosphates, and many raw materials for industries worldwide.

The United States, including steel manufacturers complained of a drop in Chinese exports of bauxite, 102,346 tonnes in 2005 to 39 665 tonnes last year, welcomed a "significant victory". And Europe welcomed a "strong signal" against the "unfair restrictions."

China, which can still appeal, has seen its arguments based on the protection of the environment that leads to not want to happen too, swept away by the WTO. And most importantly, she finds herself in a very difficult position on another issue, that of "rare earth".

These lands, in fact some 17 metals essential for high-tech industries and armaments, is the challenge of a global battle. The Chinese, who have 36% of the world, ahead of the Russians (22%), Americans (13%) and Australians (5%), in fact, provide more than 95% of world production, about 120 000 tons per year.

REE under

This near-monopoly position allows China to make rain or shine on the market, including push up prices of rare earths, which jumped 300% since 2008.And, as with other raw materials at its disposal, it jealously control the export and continues to reduce its quota from year to year.

China justifies its position by saying that it does not deplete its resources and its own industrial need these minerals. She encourages other countries to produce more. But in the eyes of the United States, Europe and Japan, this policy is simply discriminatory.

For several months they threaten, again, to complain to the WTO, they have not already done so. The decision yesterday by the organization they now opens the door wide to attack. At the same time, they seek to secure their supplies with, including the stockpiling of reserves. The United States and Japan already have.Europe thinks, as she thought to recycle some waste electrical and electronic equipment.

Unless the real future of rare earth or in the bottom of the ocean. The Japanese have discovered in the Pacific samples suggesting that there would be considerable deposits, a thousand times greater than on land. A new El Dorado 80 to 100 billion tons, according to Japanese scientists. But must still be sure you can use them profitably.

Nearly three years after the financial crisis, the first sanctions against the banks fall. And the bill is particularly salty for Bank of America. The U.S. bank agrees to pay $ 8.5 billion to end the prosecution of several investors and has also spend an additional provision of $ 5.5 billion to clear the situation with the following semi-public mortgage refinancing as Freddie Mac and Fannie Mae. This would involve the agreement of compensation the largest ever signed by a bank in the United States, according to the Wall Street Journal.

Admittedly, the stakes are also unpublished.The Wall Street as investors Journalrapporte particularly experienced such a number of asset management, BlackRock, the insurer MetLife or the Federal Reserve (Fed) of New York complain about the conditions of sale of so-called "subprime," these products complex financial risk that formed the heart of the Great Depression of 2008. Symbol of a finance gone mad, these "subprime" were associated with variable rate mortgages granted to families with poor credit. Their value plummeted after the collapse of the U.S. housing bubble, which caused a series of foreclosures and debt of thousands of homes.

These individuals will not receive the compensation that Bank of America has agreed to pay. Indeed, they are used only for investors who are customers of Countrywide Financial, now a subsidiary of Bank of America in January 2008.The specialist mortgage lending in the United States had sold to investors of financial products like subprime for an initial value of $ 105 billion accompanied by guarantees on the composition of their portfolios. But soon after, with the bursting of the housing bubble in the U.S., these investments have proved extremely risky, losing most of their value. Investors who bought these financial products from Countrywide Financial believe to have been cheated, since the original contractual terms have not been met.

The case could set a precedent

Bank of America for months trying to resolve this embarrassing litigation, inherited directly from the acquisition of Countrywide Financial.But until now the CEO of Bank of America, serving for a year and a half, has refused to pay for past investments, arguing that investors had acted knowingly. By agreeing now to pay the full price, so it gives a signal again, and strong.

This case may give ideas to other investors who lost big in the collapse of the "subprime". Thus, other banks like Wells Fargo or JPMorgan could also be directly affected by requests for compensation.

The U.S. bank, which also pass for $ 6.4 billion of writedowns in its accounts the second quarter, estimates that its net loss for the three months ending in late June could be up to $ 9.1 billion, according to a statement of the institution.

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The International Agency for Research on Cancer (IARC) of WHO said Tuesday that the use of mobile phones should be considered as "possibly carcinogenic to humans". This announcement comes after a meeting that brought together for eight days in Lyon thirty experts from 14 countries, could generate much response. In reality, this classification reveals uncertainty experts face a potential risk. Besides mobile phones, the decision also applies to other wireless phones.

"The evidence continues to accumulate that are strong enough to warrant classification at 2B (one of five levels of classification that defines product" possibly carcinogenic "to humans, Ed)," said Jonathan Samet , chairman of the working group, during a telephone press conference."The working group based this classification (…) on epidemiological studies showing an increased risk of glioma, a type of brain cancer associated with the use of wireless phones," he said. This ranking means he believes that "there may be a risk, and therefore we must closely monitor the link between mobile phones and cancer risk."

Tumors of the auditory nerve

Experts have analyzed hundreds of studies already published on the subject short term personal loan. The possible association between wireless phones and cancer focuses on gliomas and acoustic neuromas, tumors of the auditory nerve. The potential risk involved rather large users (thirty minutes per day for over ten years). Experts believe that further studies are needed long term to refine this classification.Meanwhile, they ask that pragmatic measures such as promotion of hands-free, are taken to reduce personal exposure.

In contrast, radar, microwaves and radio signal transmitters, television or wireless telecommunications (masts) were not classified due to insufficient data.

The World Health Organization classifies products or agents used by humans into five groups according to their risk of cancer. Group 1 identifies the 107 carcinogenic to humans. Group 2A, so-called "probably carcinogenic" (59), 2B substances "possibly carcinogenic" (266), group 3, the agents "unclassifiable" and group 4, the "probably not carcinogenic."

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The list of seven is finally ready. On Friday, the G20 meeting in Washington, have managed to agree on the seven countries whose impact on global economic imbalances are greatest. They are members of the old G5 70s: the United States, France, Germany, Japan and the United Kingdom, enmeshed in two powerful emerging economies, China and India .

These countries, which each weigh more than 4% of the global economy, "are clearly more systemic," according to the French Minister of Economy Christine Lagarde, who chaired the meeting. They will therefore be a "thorough assessment" of their finances to reduce the imbalances they create in the world.More concretely, the G20 will analyze the changes since 1990 and projections until 2015, several variables including their public finances, external accounts, savings and private sector debt.

Towards a global growth "balanced"

The objective of this approach is to deliver recommendations to follow for these countries. For the U.S., it will thus reduce the triple deficit, commercial and household savings. For China, it will move from growth to export-led growth fueled by domestic demand. Countries richly endowed with natural resources should also provide impetus to consumption.

On the part of capital flows in the international monetary system, emerging requested a strict evaluation of countries that are increasing the global money supply, as the United States or Japan.More broadly, the G20 also undertake to give more reliable figures and recent state of their oil production if they have one, or their stocks.

"It was a meeting of G20 subsided very, very constructive", welcomed the governor of the Banque de France, Christian Noyer. The G20 now hopes to finger the target at the summit in Pittsburgh in 2009: economic growth "strong, sustainable and balanced" for the world. A meeting of G20 finance on development issues, is scheduled for Washington in the upcoming meetings of the International Monetary Fund and World Bank in late September.

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"The world economy is still" in crisis "

The industry never stops falling. In ten years it has destroyed 750,000 jobs and the crisis that France has suffered since 2008 further accelerated the process: 55% of them were wiped out on the last two years alone!

According to a recent note to the Treasury Department, the weight of industry rose from 24 to 14% in GDP in a quarter century. Three factors explain this decline "that affects all economies." First, the search for greater efficiency has led to a growing reliance on outsourcing of part of industrial activities (cleaning, accounting, security …) to the tertiary sector. "A simple transfer of jobs to formerly industrial services, including acting, without really changing their content," says Bercy. Reflux would be to relativize … 70% of temporary jobs created in 2010 and have affected the industry.So that if you reassign the interim by business, industry 1.9% did not destroy jobs in 2010, but has created 0.6%.

80,000 hires per year

Second, nearly 30% of job losses that occurred since the early 2000s would be linked to productivity gains in the economy payday loan. Third, globalization and international competition on labor costs may also account for nearly 30% of industrial job losses between 2000 and 2007.

And yet, French industry is not dead. If she suffers from a problem of competitiveness, it still employs 3 million employees and produces 350 billion in sales through its technology companies. Better still, it recruits.The UIMM (metal), its largest component, plans to hire 80,000 people a year by 2015, half of young people.

This is in part "to offset the deficit picture plaguing activity among the population and break down some shots too often conveyed" the Industry Week, which begins today, was created. Open days, workshops discovery in schools, seminars and round tables, exhibitions … The goal is to give another image of the industry to attract young people into trades still promising.

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The first and last time that Ford had done was in 1998. So for the second time in March, the American manufacturer steals the number one spot in auto sales in the U.S. by General Motors. Last month, Ford has indeed increased by 19.2% of sales against just 9.6% for GM. While the first surprising analysts who had forecast an increase of 14.5%, the second missed the consensus (+10.8%).

In total last month, Ford has passed 212,777 vehicles against 206,621 for GM. According to the website specializing in automotive Edmunds.com, "Ford increased its incentives while other manufacturers have lowered in March, particularly GM."

Ford also benefited from higher crude oil that followed the unrest in the Middle East and particularly in Libya. The manufacturer has in effect a compact car offers a lot more solid than its competitor.A major advantage for customers who "helps a lot when oil prices soar," says Edmunds.com.

The automotive market is doing well

The third of the Big Three, Chrysler, retains its position as number three in the U.S. market. Last month, the group saw its sales jump 31% to 121,730 vehicles sold, its best sales since May 2008.

But more than the fight for number one spot, GM prefers to emphasize the good performance of the entire sector. At an analysts' conference, Don Johnson, one of the leaders of manufacturer sales in the U.S. in March, was optimistic for the U.S. car market for the months ahead."There are good signs of improvement thanks to the good unemployment figures on Friday and record corporate profits," he said.

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