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"If I am elected, I do not gèlerai, but I stoop down the salary of the president and ministers of 30%." By November 2011, Francois Hollande had made the campaign promise very symbolic, while Nicolas Sarkozy marked the spirits in increase of 172% net salary (of 7,084 to 19,331 euros) on arrival at the Elysee. Invited on France 2 on Wednesday night, the new prime minister, Jean-Marc Ayrault, announced that this commitment would be the first of his government. Hardly installed at Matignon, he will propose a 30% drop in the wages of members of government from the first cabinet meeting on Thursday afternoon. "This is exemplary," said he explained. This measure will be a decree, he said.

The gross monthly salary of Ministers will be up to 14,200 euros per month, to 9,940 euros. That of the Prime Minister will also be trimmed from 21,200 euros to 14,840 euros gross. Like, finally, the compensation of the President of the Republic. With a plane that has a surprising consequence. Ex-Ministers continue to earn more than their successors for another six months. Indeed, each team member Francois Fillon retain his salary during this period. A privilege granted to all former ministers, who lose their theory, however, other benefits.

Largest decline in Europe

If they come later than in other European countries, this decline in compensation of government is by far the strongest. One of the first to take this measure, as he tried to impose on his country a vast austerity plan, was the Irish Prime Minister Brian Cowen. From 2009, he had reduced his salary and that of his ministers by 15%. In the process, in May 2010, Spain followed the movement by announcing a 15% reduction of salaries of its ministers. In the UK, the British prime minister, David Cameron, newly installed in power, his ministers imposed a 5% decrease in their pay. A dry diet made subsequently by Italy and Portugal, among others.

In Europe a constraint to fiscal Germany still appears a prosperous island. While the German economy grew by 2% annual rate in the first quarter, Angela Merkel and her ministers were granted for the first time in twelve years an increase of wages. The Cabinet decided on Wednesday to a 5.7% increase in three stages by August 2013, bringing the salary of Angela Merkel to about 17,016 euros gross per month and those of his ministers to about 13,795 euros.  

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If it is a voice that carried Washington to moderate the heat-regulating the political class, it is that Jamie Dimon. Basking in the solid background of his bank during the 2008-2009 financial crisis, the CEO of JP Morgan had indeed become the "king" of risk control. And for four years, it is he who plays the role of informal spokesman of the profession when it comes to denounce the excesses or inconsistencies of new financial regulations.

This means that the trading loss of JP Morgan will cause shock waves far beyond the U.S. bank itself. Because the event takes place at the heart of a highly topical debate in the U.S. and Europe: that the application of the Volcker rule. This rule, named after former Federal Reserve Chairman Paul Volcker, seeks to prohibit banks that collect deposits from households to perform speculative operations. It was incorporated into the enormous legislative package – the Dodd-Frank – pass Congress in 2010 and any revision of financial regulation.

Activity called "cover"

Prevent commercial banks from becoming casino, the idea is consensual. But the implementation creates endless debates. The Volcker rule bans the proprietary trading – made with the bank's own funds and not on behalf of clients – and the management of hedge funds low fee payday loans. The definition of proprietary trading is difficult, however, and all the lobbying power of Wall Street is deployed to make it as restrictive as possible.

In the coming days, no doubt the arguments will carry less! Because JP Morgan has accused its massive loss on an activity called "coverage" – supposed therefore limit the risks taken by the bank, the kind of jobs that financial institutions want to continue in the future and they refuse to qualify speculative activities

.

What happened to JP Morgan will undoubtedly also affect Europe. The Old Continent is currently considering adopting its own "Volcker rule". A group of experts work on the matter at the request of the European Commission. Francois Hollande and included in its program a law of separation of banking activities. Jamie Dimon is in spite of himself to bring water to his mill.

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Since the U.S. Open in 2011, claims rumble among players. Endowments tournaments and especially to the calendar Grand Slam. To calm the discontent, the price of Roland Garros were revalued by 8.67%, while those in the first round losers go up by 20%, at a circuit where prices are 30% focused on the four best (Djokovic Nadal, Federer, Murray). Decryption.

LE FIGARO. – How did you arrive at this decision?

Gilbert Ysern. – The distribution of the wealth of tournaments, with a concentration on a small number of players has never been greater than today, is one of the peculiarities of our sport. Comparing such a discipline such as golf, which quite a lot like ours, we find that there is a greater disparity in prices. So we decided to upgrade the equipment of the players the first week. By comparison, in Indian Wells, the winner gets 130 times more than the 1st round loser. In Miami, it is 1 to 85. At Roland Garros in 2011, it was 1 to 80 and this year it will be 1 to just under 70.

Do you feel you were put in front of the players an ultimatum?

We are not in this logic. I went to Indian Wells meet the players, because it was the first time the top four were together and they have suggested. But it was not a meeting.

The strike threat was real?

No, there was no threat. We know that the idea of ​​putting pressure on the tournaments through a boycott threat has arisen in a number of players at the general meeting in Melbourne (in January) payday loans guaranteed no fax. And it could also be evoked by a handful of players at the next meeting in Miami (in March). This does not worry us, it is not the posture of players including Roger Federer, who is the Chairman of the players.

What are the exact players' claims?

Their concerns are twofold. Besides the question of the distribution of prices between them is that of the wealth generated by the Grand Slams, they believe, with 73% of revenue devoted to prices, not being quite to their advantage. The second case is more complex, because the reality of our economy is not what they believe. At the end of the year, there is nothing left in the coffers of the Federation because all resources are reinvested in tennis. It is important that players understand the ecosystem of the French model launched by Philippe Chatrier thirty years ago, which has developed alongside the Roland Garros tournament and play in the national territory, one feeding on the other.

Can we say that there will be no boycott of a Grand Slam tournament or Roland Garros or in 2012?

You can never say never, but it is my firm conviction.

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A first in the presidential campaign. Seven of the ten candidates have succeeded on Thursday on the same stage: that of the 66th Congress of the FNSEA in Montpellier (Hérault). Only the far left was missing, including Jean-Luc Melenchon.

All candidates have outlined three major challenges. First, that of the environment, including the management of water, while the French countryside lack of rain for the second consecutive year. Nicolas Sarkozy promised a simplification of administrative authorizations: "It is enough of a preliminary statement" to build dams for irrigation of crops, "up to 350,000 m3." Other candidates have called for better water management. "We're going to crises increasingly frequent and difficult," warned François Bayrou. Also on the environmental component, Francois Hollande has put forward the alternative energy sources. "Biogas, biofuel, biomass, these are new sources of energy and new income for farmers, said the PS candidate. We must share these investments. We will adopt a tax incentive. "

Secondly, virtually consensual: the Common Agricultural Policy (CAP). "I welcome the positive signs that the new CAP takes with keeping its budget. Aids represent fair compensation for the farmer to a policy of low prices to the consumer ", ruled Francois Bayrou. Marine Le Pen is the only advocate a judgment of the CAP in favor of a "PAF" (French agricultural policy), that is to say a re-nationalization of aid. "I am here to defend the interests of French gardeners and French consumers. I do not want a Europe which includes agricultural servant of the WTO, "warned the leading frontist. The sovereigntist Nicolas Dupont-Aignan demanded "firm renegotiation of the CAP because we pay $ 7 billion more to the EU budget that we receive."

Reduction in the hourly cost

Finally, the third item listed, competitiveness. France is now the third largest in Europe in trade of agricultural and food products, behind Germany and the Netherlands. "There must be logical and contractual solidarity, to be more competitive. This will be the sense of public investment bank that will support the development of SMEs in the food industry, pleaded Francois Hollande. We will develop a collective and not individual contract between farmers and manufacturers, allowing visibility of volumes but also the prices. "

Nicolas Sarkozy has defended his hand down the cost schedule adopted under his five-year seasonal and the permanent employees that will result from the social VAT. "97% of agricultural workers are covered by a 5.4% decrease in payroll taxes," he repeated. As for the little candidate Jacques Cheminade, which boasts a history of commercial counselor of France in New York, he is committed to "put innovation and research at the center of the debate on agriculture to meet the challenge of 2050, that of feeding 9 billion of men. "

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Players, presidents, unions, political. Everyone went to his little reaction after the proposal of François Hollande to tax at 75% share of annual revenues in excess of one million euros. In the world of football, many are quick to talk about "death of football."

Starting with the president of the Professional Football League (LFP), Frederic Thiriez. "If this proposal is successful, the championship of France would obviously be relegated to the second European division, he said Thursday on RMC. Our best players, who are in a global market, would leave. " Many players in the image of Christophe Jallet, PSG defender, and have criticized the proposal of the Socialist candidate, regretting that "working for nothing" with the application of such a measure. The club president of Lille, Michel Seydoux, even acknowledges, in Le Parisien, he could leave his post if the measure was adopted. "If I have more viewers, I shall never reach even to pay the rent for my new stadium," he says.

President of the Union of professional football clubs (UCPF), Philippe Diallo, insists on the 'cons-productive "of this measure:" When Beckham was announced at PSG, everyone has stigmatized the salary that the PSG would have paid (a gross monthly salary of 800,000 euros was mentioned, Ed). But we did not talk about the 15 million it would have reported to the State tax. "

Sports Minister, David Douillet, even the loss figure to one billion euros for the French professional football. "The 600 million coming from taxation of French football will disappear, the 5% tax Buffet (the share of TV rights of football donated to other sports) will also disappear because there will be more rights TV ". He said that if the football stars leave the French league, broadcasters are less willing to pay as much for broadcasting the games. He added: "300 million for the stadium in Lille, 200 million for the Jean Bouin stadium in Paris, all funded by public money, which no longer serve for nothing!"

"The players left France when they are taxed more"

There is not that football players who would have to pay more taxes. This new tax would also be a blow for football clubs. "It is death and not club football players," says Philippe Diallo. More and more players are quick to add in their contract a provision that any change in tax would be borne by their employer. In other words, whatever the tax rate, net pay remains the same. "These clauses are mainly foreign players the highest paid who do not always know the tax rules in force in their host country. One third of the French league is composed of foreign players, "says Philippe Diallo. According to Le Parisien / Today in France, if the measure of Francois Hollande was to come, Qatari investors should pay no less than 100 million euros for ten players from affecting Parisian club two million euros net per year.

Without giving financial details, the president of the UCPF explains this development by the stranglehold of EU legislation on that of the Hexagon. "In most other countries, including England players are negotiating their salary in" net-net ", that is to say, net of expenses and net of tax. When they come to France, they impose this rule. So, to buy our players in Ligue 1, the foreign clubs will not even need to offer a higher salary than they receive in France. " If the "tax Holland" was to come into application, then the players might be tempted to leave the championship. "Football clubs are essentially local businesses who pay their taxes in France, where the players are mobile people, since the Bosman *, have always left France when they were taxed more than their European counterparts "says Philippe Diallo. One way to point the finger at the lack of "patriotism", a theme dear to Francois Hollande, football players.

* Named after the Belgian footballer Jean-Marc Bosman, whose club, FC Liege refused his transfer to Dunkerque. The player took the case to the Court of Justice of European Communities and won his trial, 15 December 1995.

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The Minister of Labour has acknowledged Sunday that all the experts were predicting for weeks: the goal set before the summer, to reach an unemployment rate of 9% at the end of the year is abandoned, postponed indefinitely even die because of the sharp decline observed for some time on the job market. For two reasons. Not only the number of unemployed who registered in the past five months employment center jumped from 111,400 in Class A (job seekers have not worked at all) and 136,700 in ABC (including those who have been active reduced).

Simplify the short-

But Xavier Bertrand has also confirmed that the figures for the newly unemployed at the end of October 2011, published Monday, "will not be good." Will not like those last two months of 2011, "because of a crisis that continues and intensifies at times on the ground"."There are 20,000 job seekers that could quickly get out of unemployment," promises Xavier Bertrand, who still intends to require companies subcontracting work, including automotive, better take into account the consequences of their choices on the activity and the use of subcontractors.

Themes of the presidential campaign

The Minister of Labour will also make an order to "simplify the mechanisms of short" made in 2008 in order to "keep the company employees rather than fire them, and train them." Xavier Bertrand also wants to up "for a permanent interim" to secure their jobs.

In the medium term, the Minister of Labour also suggests some topics that should find their place in the presidential campaign.

Many companies have awarded the famous "dividend premium against" backwards. And in fact, the amounts paid are far from the expectations of the government, says a study by Deloitte from the first returns of negotiations in companies. As Labour Minister, Xavier Bertrand, was on the table before the payment of a premium of 700 euros per employee in companies that have paid dividends on the rise, the real turn around more than 300 euros. As for the maximum amount paid, it tops out at 600 euros.

Two reasons. The first is that the premium desired by Nicolas Sarkozy to "restore the purchasing power of employees in times of recovery," has been perceived by most companies as an additional constraint than an opportunity to motivate their troops.The premium has indeed added to the devices sharing the existing value, such as profit-sharing, mandatory for companies with over 50 employees who make a profit. "This is even more disturbing that the incentive for the prisoner has recently been tightened," says Emmanuelle Rivez-Domont, a lawyer in employment law at the firm Jones Day.

The other factor is the economic context. "Uncertainty room makes companies cautious," says Philippe Burger, a partner at Deloitte. The evolution of the economic situation is also evident throughout the negotiations. "Before the trouble was and he threw in the financial markets, companies thought given bonuses of around 500-600 euros. Today, the discussions revolve more around 150 euros to 200 euros per employee, "says Philip Burger.The crisis reduced the premium to a trickle.

Wage increases slightly affected

Some companies, such as Rhodia, were more generous than others. But it should not enjoy these raw numbers, without putting them in connection with the incentive policy, participation or wage increase of the company, the consultant warns. "Some companies had the tools to share value added very generous, and that worked well. Explain what they have paid premiums less important, "said he.

The study also brings its share of surprises. The dividend premium against does not seem to negatively impacted as wages were concerned that the trade unions. While most companies recognize that its influence is not neutral, only 10% of them say they have reduced the envelope increases the amount of the premium.And they are more than 60% to estimate its impact on wages has been small.

Companies have until 31 October to agree on the amount of the premium, or they are liable to criminal sanction. Evidence that firms do not rush, only one in two has already ended its negotiations on the subject. "Given the mandatory nature of these discussions, and urgency, companies are simple, says the consultant. They also generally a fixed amount equal to each employee. But if the premium is sustained, they could eventually refine their criteria for distribution. "

The market decline occurred in August and September did go up in smoke the equivalent of 216 billion euros over the market value of CAC 40 companies since January 1. During the one day of 22 September, falling 5.25% of the benchmark index of the Paris Stock Exchange has removed 40 billion euros, as much as the market capitalization of the size groups of EDF and L'Oreal!

Today, all forty major French companies weighed on the stock exchange the equivalent of 794 billion euros no fax cash advances. This figure may seem high to the uninitiated, but it is actually little more than the book value of assets of companies entering the CAC 40.The fall in prices has reached such proportions that the largest industrial groups in the rating on the stock exchange deal at the price of factories, stocks of goods or land on which are built warehouses or stores.

There is electricity in the air when it comes to the estate of Pierre-Henri Gourgeon at the head of Air France. The future boss of the Air France-KLM in 2014, must initially be appointed head of the only Air France. The Board of Directors of the Company held Wednesday will not be an opportunity to put an end to the war of suitors. The four directors who comprise the Nominating Committee decided to take their time. It is only in the coming weeks as the quartet will present its recommendation, hoping to bring some calm and find a consensus on the board.

The "wise men" are aware that the candidate will also appeal to the state, which supports the candidacy of Alexander Juniac, adviser to the Minister of Economy, Baroin instant personal loans guaranteed.Pierre-Henri Gourgeon is on the same line, but not Jean-Cyril Spinetta, Group Chairman, a supporter of the appointment of a "pro" for a business sector heckled by the TGV, the low-cost, companies of Gulf and Asian competition.

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While European stock markets, starting with Paris, still closed on Friday decreases, Baroin called to remain calm. The Minister of Economy, which had cut short his vacation to "take stock with his teams," according to the Elysée, stressed the need to "keep a cool head and not make a tracing paper of the excitement that can be observed on a given market. "

Invited to France Info, just after the close of the Paris Bourse, which for the first time ever signed a tenth meeting of consecutive decline, including the minister explained that "the questions posed from a double question mark: the character of the strong global economic growth and the important issue in Europe and worldwide of this problem of public debt. "

On this last point, Baroin said that "the determination of the 17 heads of state of the euro area should not doubt the investors." And remember, in reference to the plan of aid to Greece reached July 21, that "in Europe, there was an agreement by the Heads of State very important because it offered answers online cash advance. These responses must be heard by the markets. "

Latency

The Minister of Economy, however, admitted that there was "a latency reduction" between the announcement of the plan, which is "a good plan," and its practical implementation. It must indeed be ratified by national parliaments. In this regard, Baroin was keen to dispel doubts about the possibility of rejection by the German parliamentarians. "The plan will be voted on July 21. There is no other way to protect our currency which is the common good of the countries in the region, "said he.But "time is not the Democratic one click of a market operator," he said.

In order to "restore investor confidence," Baroin also ensures that "we must strengthen the governance of the euro area to make it optimal."

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