The examination of the text in the Committee gave an idea of ​​the issues that should be hotly debated in the majority, and amendments likely. The major themes: the subjugation of parental leave benefits (CLCA) to the CSG, the reduction in benefits for loss of work and the fight against fraud.

On this point, several amendments of the UMP Dominique Tian were approved by the Committee on Social Affairs. "I support and I ask the group to vote, says the boss of UMP deputies, Christian Jacob.They stem from the report of the assessment mission and control of social security (MECSS), adopted unanimously, "left and right confused.

The first is to redefine the concept of "single person", which comes into play in the payment of benefits as the single parent allowance (API, now part of RSA). "That is to reverse the burden of proof. Anyone applying for the allocation should show that it is only to take on household expenses: rent, electricity, etc.. "

Another measure supported by Christian Jacob, the suspension of all benefits in the event of obtaining a number Safely from forged identity documents."Credit unions did not have that opportunity, which of course added to criminal sanctions," said the president of the UMP group.

Recalculation of benefits sick

Former Minister for Family, Christian Jacob is also aligned with the Committee on Social Affairs to refuse to submit to the 6 payday loans.2% CSG few hundred euros a month if paid parental leave. The measure, sought by the government, must report 140 million per year.

Another controversial issue up within the majority: the new method of calculating sick leave benefits, which reduces the amount of about 6% to a gain of 220 million.The issue will be discussed at today's meeting of the UMP group.

Additional tools to fight against fraud they relate enough to give these provisions without widening the deficit? Yves Bur questioned, at least in the short term, these tools put the time to bear fruit.

"The fraud MECSS evaluates the single parent allowance in the range from 160 to 300 million euros a year, and those arising from forgery to 1.3 billion, said Christian Jacob. By definition, quantify the extent of fraud is difficult and estimates are wide.But it is important symbolically, when efforts are required from all the French, to hit hard on fraud. "

Yves Bur adds other proposals to generate more savings: lower third of the threshold for taxation of benefits breach of contract work (out of court for dismissal …) to 72,700 euros, or launch tenders for the supply of generic drugs and drive down the price as well. He hopes to gain large enough to give up the measure on sick leave … while fearing that the government, looking for additional savings, retains all final.

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The French are indeed very pessimistic. Only 4% of them believe in a crisis within the next six months. Nearly a majority (46%), however, do not expect improvement until 2014. "This survey highlights the malaise of the French," said Frederic Dabi, director of the division of opinion Ifop."For them, this is a serious crisis which they do not see the exit and on which policies can not be weighed." However, they are preparing for 57% of the "painful and difficult measures." They are also willing to make sacrifices, including cutting costs in their "comfort" and in their holiday budget, the study said.

When asked about the causes of the crisis, 52% of French people point the finger at the role of financial markets. Far behind, the government (26%), banks (15%), EU (10%), the French as a whole (6%), emerging (5%) and businesses (1%) are also considered partially responsible for the current crisis. "Paradoxically, while their commitment to the EU is often tenuous, the French for more Europe," Frederic Dabi analysis.As proof, they say they support the creation of a European Ministry of Economy.

Theme of the presidential election

As European leaders gather in Brussels on Sunday for a coordinated response to the crisis, the French have already an idea of ​​what the state could do 63% of them believe the government should take an interest in banks, either by becoming the majority shareholder of the establishment or nationalization. Despite their concern, 23% of respondents would prefer the state to intervene simply abstain. Maybe they think that the French economy can only suffer, as the government prepares to revise downwards its growth forecast for 2012 still set at 1.75%."Part of the public continues to believe that when dealing with Greece, it does not deal with French," says Pierre Giacometti, advisor opinion of the President of the Republic, in the columns of world.

Yet a few months before the presidential election, the crisis in the euro area will be the theme of the campaign. Nicolas Sarkozy will speak on the subject on television next Thursday, the day after the second EU summit is to say, once firm decisions have been taken. A key event with the French, while the popularity of the president is at half mast. "Even if the credits of some courage, nothing will be counted as long as there is a lack of visibility on the crisis," Pierre Giacometti analysis in Le Monde.

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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. "

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.

"We are increasingly optimistic that the country itself," said Emmanuel Rivière, director of strategy at TNS Sofres opinion. But here, the curves converge dangerously pessimistic. The "pessimistic" and "pessimistic" for their personal circumstances have never been numerous. There have been two peaks in the past decade.In 2005, after the "no" to the referendum on the European Constitutional Treaty, and in 2008, due to post-election disillusionment. But after the fall of Lehman Brothers in September 2008, the financial crisis has clouded the picture further. This did not stop to think the French in 2009, consciously or not, the worst was over. They began to hope again. Only the current crisis of debt, at a time when unemployment rises and where growth vanishes, again plunging morale.

The study lists four stalls. In addition to the pessimism, the French won by a malaise that affects both their purchasing power and their relationship to politics and marketing. "The urge to spend is progressing, but the means are lacking, creating a frustration," said Vincent Leclabart. 56% of French people say and do not earn enough to live as they wish.Worse, four out of ten live hard and 27% admitted to frequently or permanently deprived for financial reasons.

63% indifferent and phobia

"These numbers are very important for a developed country, says Vincent Leclabart. A section of the population picks seriously. "This, in a few months of democratic maturity important for the country. But for the French political life is still boring to 42%. And they do not trust politicians to redress France.

In their world of consumption as the French drop. For the first time since the inception of the study eight years ago, the indifferent and opposed to the model "consummatory" the majority (63%). If love remains stable for brands, consumers believe that companies run to them and not their customers."It's about relationship, not product quality," says Vincent Leclabart. The French judge brands more invasive and less entertaining or convincing. Harshest techniques marketing are those who no longer want to spend, even if they can afford. A quarter of French would be disillusioned and when the poor are themselves the "unsubscribe", living hard and having more desire. The study concluded that "policies and brands do not seem to have changed relational mode. At a time when everyone theoretically has the means to express themselves, the opposite is often felt. "

This is the first concrete decision of the U.S. company from ads on 24 August. By this gesture, the group's management intends to "symbolic protest" against the tax. The investment "is not canceled but it must be reassessed in the context of uncertainty created by the tax," says the group. These 17 million would be used to launch a new production line for cans at the plant, the second in France in terms of production, which employs 203 people and five years has already received 45 million euros of investment .

It was to be formalized on September 19, on the occasion of the celebration of 40 years of factory Pennes-Mirabeau. The arrival of John Brock, president of Coca-Cola Enterprises for 40 years the site is also canceled.

"I understand the position of Coca-Cola"

Coca-Cola, which employs 3000 employees across five production sites in France, says wait and see what will unfold the vote in Parliament before taking a final decision. The tax should indeed be debated in the coming weeks as part of the bill for funding Social Security."We hear and symbolic protest against a tax that punishes and stigmatizes our company our products," said Coca-Cola, which "reaffirms its strong opposition to any form of stigmatization of soft drinks and their assimilation into other product categories such as tobacco. "

This tax, which should bring 120 million euros to the state, according to the manufacturers should increase the cost price of the can of a euro cent on average. For the National Association of Food Industries (ANIA), the decision of the U.S. company is understandable. "I understand the position of Coca-Cola, said Jean-René Buisson, president of the association. Coca is one of the companies that have signed charters with the government on reducing sugar and nutrition education policy.Why do food manufacturers would they continue to trust the government? ", He gets mad. "The tax Fillon is the stigma of food which is harmful is not scientifically proven," he adds.

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Basis of bank balance sheets, equity protect in case of hardship, by absorbing the losses. For decades, regulators consider that the level of capital a bank against its commitments is the best indicator of its strength. The 2008 financial crisis has only reinforced this analysis for the simple reason that supervisors realized they had been unable to prevent it. Thus, their goal now is to reduce the impact of future crises, by ensuring that banks have sufficient buffers.In particular, the new international regulations, Basel 3, requires that by 2019 no later than the banks' capital should represent at least 7% of their commitments "hard equity" against a floor equivalent to 2% before the crisis .

• 400 billion already raised

In other words, the race started in the capital for a long time in Europe. First in 2008 and 2009 to offset losses from the crisis. And since 2010 to meet the requirements of Basel 3. The European Commission amounted to 340 billion euros state aid in the form of recapitalization of banks that it has validated between 2008 and 2010. Between January and April 2011, banks have continued to increase their capital by 50 billion euros. In total, nearly 400 billion euros were injected into the European banking system in three years. And it's not over.Portugal, Greece or Spain, the governments push to consolidate their banking sectors. European authorities concluded, following stress tests conducted in May, as eight banks of these countries had an immediate need for 2.5 billion euros. But the amount should be much higher because 16 banks, including Germany, remain in a tie no fax payday advance. For European banks, finally, the question is whether the economic downturn will thwart the rise of their ratios by reducing their profits. In which case they will either raise capital or reduce their commitments.

• Who are the deep pockets?

If Christine Lagarde calls on European banks to seek priority to private investors, the plummeting share price of Barclays and other general company since the beginning of the year complicates the equation.The UniCredit, Deutsche Bank and Commerzbank have had the chance to increase their capital just before the stock market crash of the summer. French banks, they have got just in time a boost through the stock dividend. In this context, it is no coincidence that the last few days of sovereign wealth funds and other major investors are back. Last week, Warren Buffett – who won $ 1.7 billion by betting $ 5 billion over Goldman Sachs in 2008 – has placed a ticket 5 billion in Bank of America. In addition, the merger of the second and third Greek banks is supported by a fund of Qatar. In 2007 and 2008, already, Singapore, Kuwait or China were brought to the rescue of troubled banks in the world.All did not keep good memories, like the fund of Abu Dhabi, Adia had placed $ 7 billion in Citigroup.

However, if by chance the private shareholders do not jostled, European states began to organize to ensure public support for the banking sector. This is the case in Spain, for example. In addition, the Summit of July 21, European governments have decided to allow the European stability fund to recapitalize banks directly if necessary.

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If the owner of the station, also at the head of information division of Lagardère Active (Europe 1, Sunday Journal and Paris Match), is given three years to reach its goal, it is pressed to do so."We need to increase advertising revenues and those from diversification. It provided funding for our programs, "commented Denis Olivennes. In the first half, Europe 1a indeed registered a "slight decrease" in advertising revenues. But advertisers have been attracted by the new schedule in September, reassured the control group low fee payday advance.

This new grid wants to "reconnect with the deep roots of the station." "Europe is a television station whose spine is the information which has the characteristic good humor," analyzed Denis Olivennes.Simple translation on the air: the three appointments of information of the day – the morning, afternoon and evening Europe – are interspersed with two "beaches of entertainment," in the late morning and afternoon.

New site info

Eager to improve its image among listeners as advertisers, Europe has become an an "opinion leader". It is the mission entrusted to Arlette Chabot, director of information of the station. "The information needs to be a reference to Europe, as its independence," she said. To strengthen its position as the standard for information, will also launch a Europe in mid-October a "pure player" of information, facilitated by a dedicated team of journalists. It will be fed content from other sites in the group, its own content and production of Internet users.

Such a reform would be a way to go very smoothly on a system condemned by unions but emblematic of the early five-year term of Nicolas Sarkozy.It would also bring hundreds of millions of euros in state coffers – the contribution holiday costs more than three billion a year to Social Security – without too much strain on the purchasing power of employees. It is ultimately the only confidence that François Fillon was permitted. "It was not for him to test a range of measures," says one of his advisers. Most of the time, the Prime Minister has therefore merely listen to what his interlocutors have to say.

"Protecting Growth"

Jacques Voisin was the first to meet Sunday with the prime minister. The chairman of the CFTC asked François Fillon that the measures he is about to take are "consistent with the growth and equitable" and they have no "impact on employment and social minima ".Jean-Claude Mailly for its "push" two major points in his eyes: "the preservation of public services and the protection of collective action," such as tax benefits to the issuance of food stamps or the implementation of complementary health.

In his meeting, François Chérèque for his part stressed "the need to implement measures of social support to employees and businesses to avoid blockage of the economy." The leader of the CFDT has once again required the creation of an additional tax bracket for the highest income or the conditioning of exemptions from VAT and social security to the requirements on employment and wages.The Prime Minister, who undertook to study these proposals, agreed that it was "important to protect growth, small businesses and employment, and support the most disadvantaged," reports the CFDT, which "oppose any questioning of social benefits for savings."

After discussing the budgets of social security and local authorities, François Fillon has finally confirmed Laurence Parisot, the president of MEDEF, it would be "very attentive to SMEs and business conditions."

"The direct consequence of the loss of" AAA "rating is going to be the most difficult to borrow, says Dominique Roux, professor of economics at Paris Dauphine. Interest rates will therefore rise. "The movement may be modest, however: despite the rumors of degradation rates of long-term interest Americans were still very low Friday. "The rating agencies do not set interest rates, although they may have an influence," Augustin Landier tempers, professor at the Toulouse School of Economics. In April 2002, Japan lost its rating "AAA" and the impact remained limited. Above all, the United States remains a country apart. "Today, the U.S. Treasury issues debt, which was bought by the Federal Reserve, the U.S. central bank.It is therefore run the printing press, "says François Chaulet, associate director at Montsegur Finance. Another consequence, some bond managers could be forced to sell U.S. debt because they are forbidden to hold securities other than "AAA".

For European states

Europe has its own concerns of public debt, particularly in Spain and Italy. However, some might find of interest. "There is a" AAA "less and there could be a technical delay of the remaining debts still having this notation," Judge Francis Soler, credit manager at Edmond de Rothschild IM. This is the case of Germany, but also of France.And S & P affirmed the ratings for France online payday loans.

For financial markets

"Markets do not expect the decisions of rating agencies to react," said François Chaulet. The deterioration of the American note was expected, which partly explains the decline in recent days. "It is the accumulation of bad news, especially the concern about future economic growth in the United States, which led to a drop of this magnitude of global exchanges, said Jerome Vineria, an analyst at IG Markets Markets. These elements are still there, implying that markets should remain volatile in the coming weeks. "But the bad news today all seem familiar. And a real international coordination could change the movement."If Monday's session can still be difficult, I think, however, that the balance of the week in Paris could be positive," Jerome Vineria ventures.

For households and businesses

For U.S. households, the main risk would be higher interest rates. Companies will also be affected by the rising cost of credit, but they could also benefit by acting as a hedge against weak states. "Today, many companies appear financially stronger than the most fragile states," Francis Soler edge.

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