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.

Early this morning, the Greek Finance Minister Evangelos Venizelos was the first raised his voice in that. While the prime minister suggested yesterday that the referendum will focus on "whether the Greeks or not to stay in the euro area," Evangelos Venizelos has swept the issue with the back of the hand. In the eyes of the man who played the head of the party George Papandreou in 2007, "the place of the Greek people in the euro is a historic achievement of the people that can not be questioned.This can not depend on a referendum, "he said in a statement. The minister stressed the importance of having the new tranche of aid "without delay". In fact, under the sixth tranche will not be released until the political situation has not been clarified.

The sling number two government was quick to be followed by the Greek Minister of Development, Michalis Chryssohoïdis. It called for a European financial rescue of Greece was quickly ratified by parliament, in fact opposed to the proposed referendum on Prime Minister said on public television Net. "This release is the ratification by Parliament of the Agreement (European) Greece comes out of the impasse," said Michalis Chryssohoïdis as television.

LE FIGARO. – How do you with a year follow-up the last pension reform?

Danièle Karniewicz. – It was inevitable to act on levers and short-term increase in the age of departure was the parameter most effective in lowering the stress deficits by 2018 payday loan. And we are already seeing the impact on the accounts of the general scheme: CNAV should reduce its deficit in half by 2012 and the flow of retirements begin to slow this year to produce 8.7 billion euros in savings in 2020.

The enthusiasm of the morning gave way to uncertainty about after German leaders who are very cautious about a future resolution of the crisis in Europe.

Investors have not long welcomed the determination shown by European finance ministers at the G20 Finance last weekend."Advanced countries will adopt, taking into account their respective national circumstances, policies to strengthen the confidence and support growth and implement measures clear, credible and targeted to rebalance public finances" stressed ministers in statement.

Above all, they promise to make a decision at the European Summit of October 23, described as "decisive" on Saturday by Minister of Economy Baroin.For its part, the ECB President Jean-Claude Trichet said the euro was "not threatened", but called on all Europeans to be "extremely vigilant" with regard to public finances.

Attempted to reassure the ability of the International Monetary Fund (IMF) to support countries in difficulty, Christine Lagarde, the Executive Director, has determined that the resources of the institution for the time were "appropriate" and "fit" to Micro Europe 1. And, while many European countries are considering to use the Fund to prevent contagion of the crisis in the euro area in case of bankruptcy of Athens.

Measures of expected savings on the U.S. side

On the other side of the Atlantic, U.S. President Barack Obama must include measures of fiscal consolidation through a savings plan.Last Friday, the country's budget deficit reached 8.7% of GDP in 2010-2011, 0.3 points less than in the previous year, according to the Treasury. In absolute terms however, the fiscal gap widened slightly compared to fiscal 2010, 0.4%, from the threshold of 1.299 trillion dollars, making it the second biggest deficit of the History of the United States.Concerns also weigh on U.S. growth, after the deterioration of consumer sentiment surprise U.S. beginning in October, falling incomes leading consumer expectations to their lowest level for over 31 years guaranteed approval cash advance loans.

Following the announcement of the failure of 20% of the 360,000 small businesses in Zhejiang Province since the beginning of the year, Beijing also pledged to "rebalance" its growth engines through a battery of measures this week.

The euro retreated slightly

On the foreign exchange market, the euro fell slightly against the U.S. dollar on Monday morning at 1.284 dollars (-0.21%). While oil was up in Asia after a barrel of "light sweet crude" for November delivery clinching 35 cents to 87.15 dollars in early electronic trading.Barrel of Brent North Sea crude for December delivery gained 18 cents to 112.41 him dollars.

Banks remain top values ​​to follow this Monday

• Banking

Standard & Poor's (S & P) announced Friday it lowered the long-term rating of BNP Paribas (-3.72% to 31.05 euros) from "AA" to "AA-" and the Bichri (Banking Industry Country Risk Assessment) of France in Group 1 Group 2. In this context, investors will keep an eye on Societe Generale (-2.81% to 20.25 euros) and Credit Agricole (-2.16% to 5.085 euros).

• Dexia (-16.71% to 0.578 euros)

The National Assembly will consider the draft supplementary budget by establishing a government guarantee.

• Air France-KLM (1.43% to 5.606 euros)

A special board meets Monday for the start RECORDED Pierre-Henri Gourgeon, as revealed by Le Figaro yesterday.In addition, three cabin crew unions (PNC) filed a strike notice for the weekend of All Saints to protest job cuts.

• Renault (-3.06% to 26.635 euros)

The new organization called the head of the manufacturer after the false spy case will come into force on 2 November as planned and strengthen the power of the CEO Carlos Ghosn with the aim to avoid the fiasco of the early recurrence in 2011.

• Axa (1.74% to 10.745 euros)

The French insurer Axa wants to eliminate by 2015 about 1,500 jobs in Germany, or one sixth of its workforce in the country, the Financial Times Deutschland on Monday.

• Eurosic (-0.43% to 32.35 euros)

The group has completed the acquisition of 22 office buildings with GE Capital Real Estate valued rights included 340 million euros.

• Edenred (-3.03% to 18.57 euros), Guyenne Gascogne (1.50% to 80.66 euros), Mercialys (-0.11% to 27.5 euros) will publish their results for the third quarter after Stock Exchange.

The Finance Act 2012 goes a new movement of the plane 10% of the 14 tax loopholes already affected in 2011 (rental investment schemes, investment in unlisted companies including …). Although the tax credit for taxpayers conducting energy conservation work in their primary residence is no exception to the planing, the government decided to initiate a reform of assistive devices to the improving the energy performance of dwellings. He wants to promote major renovations including the return on investment is sometimes more than thirty years.This work financially unattractive, however, are needed to achieve the 38% reduction in consumption of existing buildings in the park, set by the Grenelle Environment Forum.

What work is encouraged?

To reach its target of 400,000 retrofits thermal year, the government intends to achieve more attractive bunches of work. Thus, taxpayers carrying the same year, at least two categories of work will receive a tax credit rates increased by 10 points, but the rate so obtained may not exceed 45%. This may include, for example, the joint realization of the wall insulation and the roof, along with installing a new boiler performance or installing a heat pump.The device, which was completed December 31, 2012, is extended for three years.

Bercy does he discourage some work?

Indeed, work is now less efficient on the spot. Thus, the installation of double glazed windows, entry door or shutters in a house no longer open right to the tax benefit if it is not accompanied by other work faxless payday advance. And when applied, the rate of the tax credit will be lowered to 11% in 2012. Similarly, the tax credit for installing solar panels for electricity production is seriously dented. The rate will increase from 22% to 13% and the tax benefit will be subject to a specific ceiling, set by decree.Costs savings are now included in an overall ceiling of € 8000 multi for a single person and 16,000 euros for a married or civil union, this amount being increased by € 400 per dependent.

Funding arrangements will they be improved?

In 2011, only 50,000 Eco-PTZ (interest-free loans granted for thermal renovation of housing) have been granted. A figure well below the objectives of the Grenelle Environment Forum. Therefore the government intends to make it more effective. Its maximum reimbursement would increase from 10 to 15 years when financing the simultaneous production of at least three kinds of work. This would apply to offers of loans issued from 1 April 2012.Similarly, to allow low-income households to achieve these major renovations, homes with an income tax benchmark tax is less than 30,000 euros per year will earn the Eco-PTZ and the tax credit. And, for offers of loans issued from January 1, 2012.

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"THE INDIVIDUAL – How to pay less tax by reducing its energy bill?

The stone ahead and booklets and savings accounts offered by banks (29%), and life insurance (19%). Actions (2%) and bonds (2%) are even further relegated last. The survey results show that confidence in real estate is even stronger than household incomes are high.Thus, over half (52%) of those reporting more than 3000 euros monthly income claims to have faith in the stone.

If Bernard Cadeau, president of the Orpi network, welcomes the conclusions of the study, he also expressed fears for the future. Recent government decisions – taxation of capital gains, reducing the advantage Scellier have …- he said, clearly upset the French. "It also translates instantly into the field with 5% of our customers who have taken the mandate to sell their second home in the weeks that followed," said he. A view shared by Gilles Ricour Bourges, his counterpart at the Paris-Fnaim. Since August 25, the real estate professionals succeed in denouncing the announcements made by the government and their negative effects on the market and on household budgets as prices could rise again because of the shortage.Analysis they will not fail to spread on the occasion of the exhibition of real estate in Paris, which opened on next weekend.

Markets are waiting with some anxiety the president's speech to the U.S. central bank, Ben Bernanke, the outlook for the U.S. economy. An hour and a half ago, the U.S. government has released its second estimate of GDP for the second quarter. The consensus growth overseas could fall by 0.2 point to 1.1% from the first estimate. On Thursday, weekly jobless claims declined.Causing a sharp decline in U.S. stock markets.

On the corporate side, the ball results Essilor continues with the program on Friday morning.

Essilor International reported first half sales of 2.06 billion euros, up 6.9%, the band announced via a press release issued in the edition of Les Echos to appear Friday payday loans lenders.

Financials

The ban on short selling financial stocks on Thursday was extended to France, like Italy, Spain and Belgium, and the Financial Markets Authority (AMF) said it would review its position by late September.

Total expected to present a reorganization in the fall of scale of its operations downstream, with a planned merger of its refining and petrochemicals, according to Les Echos, citing union sources.

As for oil, prices were mixed Friday morning during electronic trading in Asia, in a sluggish market, before the highly anticipated speech of the head of the U.S. central bank (Fed). In morning trading, a barrel of "light sweet crude" for delivery in October gave 10 cents to 85.20 dollars per barrel of Brent North Sea crude for October delivery took 19 cents to 110.81 dollars.

But mainly because the second plan with 158.6 billion euros, concocted by the Heads of State on July 21 and has yet to be ratified by all members of the euro area, has been seriously shaken by Finland.

Helsinki this week announced it has signed a bilateral agreement with Athens where, in exchange for his participation in the bailout, Greece to collateral ("Collateral") to Finland. This sum, which some analysts valued at 1 billion euros would be invested by Finland in risk-free assets.Interest earned will, in the end, to cover the amount loaned in the rescue plan. In other words, the Finnish government has made pledges to ensure against any risk of default of Greece.

Two-tier system

Technical in appearance, this agreement could have an impact politically devastating. Although this is a bilateral agreement, "Member States of the zone will validate this discussion between Finland and Greece," said a spokesman for the Commission, Amadeu Altafaj, ensuring that " Negotiations are already underway. "

But in Brussels, it does not hide his concern. If it is definitely validated the agreement between Finland and Greece could open a Pandora's box by allowing other countries to step into the breach. Austria, Slovakia and Slovenia are already tempted to do the same."We believe this agreement will exacerbate the problems of Greece and did not fall," warned yesterday the Dutch Prime Minister Mark Rutte. He said the solution is equivalent in effect to "resume direct" the money lent. However, the Dutch Prime Minister said that if the Finns get this guarantee, it should apply to all countries in the euro area quick cash.

Therein lies the problem. By creating a two-tier system, the agreement undermines the solidarity displayed by the leaders of the euro area on July 21. "The participation of Finland has been canceled," said one EU source, deploring an arrangement going "against the spirit of the agreement" for Seventeen.

Difficult, however, to reverse, the source added.Helsinki is indeed required to deal with the nationalist party of the True Finns since their breakthrough in the last legislative elections and their reluctance to come to the rescue baskets drilled in the euro area.

Markets are not fooled

Under the pressure of Finland, the Heads of State of Seventeen had included a short clause in their agreement of July 21, stating that "where appropriate, a security agreement will be established to cover the risk arising, for Member States of the euro area, the guarantees they have provided to EFSF. " The rhetoric is vague and leaves open to interpretation. Yesterday in Brussels, experts from the ministries of finance in the euro area came together to floor on the issue.

For the Commission, this development is not a surprise, and he emphasizes the urgency of ratifying the agreement of July 21.José Manuel Barroso had written to heads of state of the euro area from August 3 to ask them to speed up the timetable, and thus "avoid introducing excessive stress in terms of conditions or additional collateral." We understand better the rush now.

Athens wanted reassurance yesterday, indicating he had entered into negotiations with a pledge of Helsinki. But financial markets are not fooled: "If all countries in the euro area, each requiring a Trust Agreement, this will restrict all the help that will actually be available for Greece," say economists at Barclays Capital. This would imply de facto establishment of an additional third envelope.

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The popularity of the towers is very strong especially in emerging countries, which will soon appear three new skyscrapers lying in a range in height from 500 to 800 meters. Symbols of modernity and economic development, they show by their names prosperity of their city or country. The Makkah Clock Royal Tower (601 m) should be opened in Saudi Arabia at the end of this year.The draft Jakarta Tower (588 m) in Indonesia, launched in 1997, should finally set up in 2012. As for the tallest tower in China, the Shanghai Tower (632m), with completion scheduled for 2014.

United States, where the tallest buildings are just above half a mile, top of a building 541mètres should dominate the sky in 2013. This is a skyscraper built on the ruins of the World Trade Center.

It's much more at the end of 2010, where it reached a low of 3.27% on average, before rising sharply in the first quarter of 2011. In the early months of the year, interest rates have taken nearly 10 basis points per month, before slowing gradually to rise in the second quarter.

Because the factors that competed so far in the rise in interest rates now seem not to have to play. "The increase began in November 2010 was related to liquidity constraints imposed by the Basel III.To satisfy them, the banks have increased their margins on new loans payday loan lenders. Today, this adjustment – of around 70 points to 100 basis points depending on the establishment – is probably done, "said Michel Mouillart, an economist at Paris X-Nanterre.

Other factors, however, could take over. The cost of money, in particular, could rise because of uncertainties related to the amount of sovereign debt. For the moment, "this factor did not play," said the economist. But it is already expected that the three-month interbank rates and increasing to ten years until 2012, drawing upward those for mortgages. "The movement of rising interest rates should continue," predicts ultimately Eluère Olivier, an economist at Credit Agricole.

Increase the duration of loans

Photo credits: Jean-Christophe Marmara / Le Figaro