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The benches of the National Assembly had to be beautiful sparse, MEPs finally adopted Wednesday, the bill Warsmann to relax labor laws and reduce administrative business.

To achieve this, it took several parliamentary shuttle, the Socialist majority in the Senate rejected this text block for the second time, on February 20, saying that "the provisions of the text beyond the scope of legislation and simplification are fundamental reforms that call for specific depth discussions. " Ditto to the Assembly where the opposition has denounced before the vote "a challenge to the contract of employment of employees, without compensation of pay." But this time in vain.

Particularly criticized, section 40 of the new law provides that "the distribution of hours over a period longer than the week and not more than the year under a collective agreement does not constitute a change of the employment contract." In other words, if a collective agreement signed by at least 30% of union partners, an employer can now develop new working hours without the consent of each individual employee.

Telescoping with the discussions on competitiveness, employment

This article raises the ire of unions involved in the negotiations with the employers on the establishment of a pact competitive employment in companies. Indeed, the government has two months to the social partners to discuss this issue payday loan lenders. "Either we are given the entire debate, is not the time to negotiate. By divesting a part of the subject, we want to let us do the dirty work cut wages and increase working time, "storm the CGT.

More moderate CFDT a critical lack of clarity of the new provision and telescoping with the discussions on competitiveness employment. "This bill is so weird is invited into the debate and the opening of negotiations with the employers section 40 makes it unnecessary," said Marcel Grignard, number two in the central union.

"A law of August 2008 to grant greater flexibility in the modulation of working time between the two sides, but a decision of the Supreme Court dated September 28, 2010 went against this interpretation. It was just for us to clarify and specify the previous law, "says Jean-Luc Warsmann (UMP) member of the Ardennes.

After a first round on February 17, three new meetings were planned on 23, March 27 and April 13. "If, at the national level, social partners want to change Article 40, we will proceed to its amendment," reassures the hon.

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PSA Peugeot Citroen has not confirmed its merger with GM that Xavier Bertrand is already warning his direction. Minister for Labour, this approximation is "good news if we keep the good tradition of maintaining employment in France." Suffice to say that the government will not release the pressure on the French manufacturer. Last June, convened at Bercy, Philippe Varin had had to undertake not to close the factory in Aulnay.

Whether we speak of private or public, nothing would be worse for the government's announcement, in its presidential campaign, a social group in a landmark. Last December, the restructuring of Areva and had had to adjust to this rule: no job cuts in France.  

Prey to a reversal of their business and face a lack of visibility, some companies have not yet had a choice: Fnac, Nouvelles Frontieres, Cofinoga, Petroplus … the list of restructuring grows regularly, despite the election period, unfavorable. "It's never comfortable to negotiate a restructuring while receiving a visit from a candidate or making the headlines, says Pierre Beretti, CEO of Altedia. Caution is to postpone its plans of reorganization, but it is still necessary power. "

At two months of the first round of presidential elections, employment issues have again become the primary concern of the French. The last quarter of 2011, the economy has destroyed nearly 32,000 jobs, a first for two years. Including industry, the center of the discourse of all candidates, which has surpassed the 800,000 jobs lost in ten years. As for acting, leading indicator of labor market, he accused his second consecutive quarterly decline and shows a negative balance of 26,000 positions in 2011 paperless payday loans.

Accused of putting pressure

"There is a gap between economic reality and the perception of people, an expert nuance. There is no chainsaw massacre. There is less difficult restructuring and the maximum is done for employees. "Nevertheless. It remains difficult to ask the executive to sit idly by. "Obviously we contact each company to try to find alternatives," says one close to Xavier Bertrand. The Minister of Labour is accused, notably by François Chérèque (CFDT), to move from "phone calls" to ask businesses to defer their restructuring plans after the presidential election. "You think, today, you have the possibility of delaying social plans if they are inevitable?, Xavier Bertrand said Wednesday. Of course not, but still, you can find ways to avoid layoffs. Yes, that's true, when you can avoid redundancies and if I can protect employees, I do. "

They are also not employees or Lejaby Photowatt going to complain. Without the intervention of the president, no recovery solution (respectively by a provider of LVMH and EDF) would have been found. Syndrome Jospin in 2002, powerless to employees of LU-who accused him of having done nothing for them in its presidential campaign, has been there.

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The U.S. government must announce on Feb. 22 at night the details of his reform of corporation tax, promised by Barack Obama in 2010. This reform should reduce from 35% to 28% tax rate on corporations, while increasing revenue through the elimination of dozens of tax loopholes.

Altogether, the reform should report to the State $ 250 billion over 10 years, according to the Wall Street Journal. The project of the White House would force U.S. companies operating abroad to pay tax on their profits for the first time, while encouraging companies based in the United States. The effective tax rate for oil and gas companies, which benefit from deductions and subsidies, would increase. But the industrial tax rate would not go to "more than 25%" against a current average of about 32%.

To become law, the project must still be approved by Congress when the lower house held by the opposition. The vote is far from certain. Favored a revision of corporate tax, the Republicans could oppose the parallel elimination of tax loopholes, on the grounds that this would raise taxes in the United States, the risk of penalizing the economic recovery.

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White smoke comes not yet held Monday in Brussels, where a decisive meeting of the Eurogroup on Greece. It comes from the Italian Presidency in Rome, and the headquarters of the European Central Bank in Frankfurt.

After a phone conversation with Angela Merkel and Prime Minister of Greece Lucas Papademos, Friday, Mario Monti issued a statement encouraging: "At the end of this conversation, which came in the details and which was conducted in a constructive spirit, three participants were confident that an agreement on Greece can be reached Monday, the Eurogroup. "

So far, mistrust prevailed. Especially since the previous Eurogroup, on Greece, was canceled Wednesday. "This time, an agreement is likely," said Jean Pisani-Ferry, director of the Bruegel think-tank in Brussels. "Otherwise it's too late, there will master more technical details …", he adds.

The challenge of this size Eurogroup is: give Greece its private creditors and the green light to launch the second bailout of Greece, estimated at 130 billion euros, to avoid a default in Greek debt falls from 14.5 billion euros on March 20.

That Greece is committed to the reforms demanded by the troika, beyond the April elections, Germany, Finland and the Netherlands had planned mid-week to split the bailout to not pay, firstly, that the sum needed to rescue private, or 30 billion euros. 

Exchange of debt

But this scenario is complicated, difficult to read for the markets, has been criticized by the IMF and European lawyers, who see it as a source of additional blocking with private creditors, asked to relinquish 70% of the value of their securities. "This option is no longer on the table," said Deputy German Finance Minister, Thomas Steffen. "We are ready to have a solid basis for a decision Monday," says the German Finance Ministry in Berlin.

The European Central Bank has brought his stone to an eventual agreement. Its chairman, Mario Draghi, submitted Thursday night, the vote of the Governors, the exchange of 50 billion euros of Greek bonds, which should allow eventually to redistribute 12 billion euros to Greece, which allocated to debt repayment countries. For its part, the IMF would be willing to contribute to the new rescue plan by a loan of 13 billion euros, reported last night the Wall Street Journal on its website.

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To save the decline of its magazine group, the head of Time Warner has chosen a specialist in the world of digital media communication. By appointing Laura Lang to head Time Inc.., Jeff Bewkes, the head of Time Warner, has plunged the newsroom of titles such as People, Time, Fortune and Sports Illustrated in perplexity. "She knows nothing about the press and publishing," some have criticized this woman of 56 years who previously headed Digitas, an interactive agency acquired by Publicis 1.3 billion in late 2006.

"It depends how you define the word" press "and" edit "," their replies in advance Laura Lang. The latter has extensive experience in communicating with users, readers of tweets, Facebook addicts and fans of digital tablets.A graduate of Wharton, a prestigious business school of the University of Pennsylvania, she serves on the board of directors of the agency Vivaki (Publicis Groupe) as well as advice clothing company VF Corp.. And Benchmark Electronics, industrial society and electronic engineering.

Renault continues its offensive on the niche of ultra-low cost. According to La Tribune, the manufacturer plans to build a car for the price shock of 2500 euros. Specifically, the newspaper said, citing economic "internal sources", a team Renault-Nissan has come into being on 1 January next year to develop all entry-level models of the group, and a platform an engine at a very low cost payday loans in 1 hour. This morning, the manufacturer confirmed to AFP that Detourbet Gerard, who led until the range low-cost Entry (Logan, Sandero, Duster) umbrella program.

Designed for emerging the poor, this car should allow Renault to boost sales as its traditional markets crumble. On the Old Continent, the debt crisis now weighs on sales of the group.

Why not commit either insurance-in logic to encourage banks to provide easier credit for small amounts to small businesses? The role of banks is to finance the real economy, SMEs should not be suffocated by a restriction or a costly credit.

Should there be a bank for SMEs involving the ISP, OSEO under the auspices of the Deposit?

The subject is to better inform business leaders on existing mechanisms and, for that, the best way is to centralize information in one place, easily accessible, the management could be entrusted either to OSEO, either the Deposit guaranteed payday loan.

What ideas will you be strong in the context of presidential elections?

There is no question for the CGPME to give voting instructions.

Financial markets have returned to levels prior to the Europe Agreement. After the Greek Prime Minister George Papandreou announced a referendum by the Greek end of the year, the Cac 40 lost more than 9% over the last three sessions to fall below the 3100 points. Heads does one to a fourth consecutive session of decline? Probable: after opening on a technical rebound by nearly 2%, the Paris index off again down in the late morning. Halfway through, he advanced modestly from 0.30% to 3077.67 points.

In Asia, the Tokyo Stock Exchange fell by over 2% to 8640.42 points, while China's financial markets have now returned and rose slightly.

On the foreign exchange market, the euro regained some strength to climb 0.83% in late morning at 1.3775 dollars."More than a referendum Greek, what are the consequences of such a decision are disturbing, that the will of the populations of other European countries to express their disagreement through a referendum," said Laurent Berrebi, Chief Economist Groupama Asset Management on BFM Business payday loan online.

In addition, the Prime Minister, François Fillon, will hold talks in late morning with the leaders of banks on the implementation of decisions of the last EU summit and the financing of the economy.

Vigilance on banking stocks

On the corporate side, banking stocks should still hold the attention well after the Greek government has cast doubt on the effective starting date of the settlement of the crisis of sovereign debt area. In Paris, BNP Paribas is leading the CAC 40 (3.99%, to 29.70 euros).

The concern of earlier this week gives way to relief. After completing a session in the balance yesterday, marked by a small rise in the Nikkei 0.16%, Asian stock markets will resume after the announcement of the plan to stem the crisis in the eurozone. The benchmark index of the Tokyo Stock Exchange rose on Thursday from 1.63% to 8891.28 points.It's the same for other Asian financial centers: the Hang Seng index of Hong Kong Stock Exchange gained 1.74% to 19,399 points, the CSI 300 Index 0.26% 2658.42 Shanghai points, the Kospi Index Seoul 1.42% to 1921.29 points, the S & P / ASX 200 Index 2.43% to 4345.80 Sydney points, the BSE Sensex 30 in Mumbai at 0.20% 17,288.80 points and the FTSE Straits Times Singapore 1.63% to 2814.99 points.

Shortly before 4 am, France, Germany and the euro zone countries are agreed after intense negotiations with creditor banks on a 50% discount on debt securities Greek removing the last obstacle to a comprehensive plan of response to the debt crisis. The contribution of the private sector, coupled with an effort of the States of the euro area of ​​130 billion euros, will bring the Greek debt of over 160% of GDP today to 120% in 2020, said Nicolas Sarkozy.The French president also said that the means of relief funds in the euro area (EFSF) would be "multiplied" in order to reach "1.4 trillion dollars," or "1000 billion euros." For Nicolas Sarkozy, "the summit has to adopt elements of a comprehensive response, an ambitious response, a credible response to the crisis in the euro area". Even if the plan is still very fragile if the economy of Greece does not improve, he said.

The surge in the yen threatens Japan

For its part, the IMF Executive Director Christine Lagarde welcomed the "substantial progress" made at the EU summit in Brussels, welcomed the leaders of the euro area have set up "a program that will respond to the crisis in the region ".Greek Prime Minister George Papandreou, for its part considered that a "new era" began in Greece, speaking of a "new beginning" with this debt reduction Greek.

On the macroeconomic front, the Central Bank of Japan announced Thursday a further easing of monetary policy to fight against soaring yen that threatens the recovery of the Japanese economy.The institute has decided to increase 5 trillion yen (47 billion) purchases of treasury bills, increasing to 55,000 billion yen (519 billion) the maximum amount it spends on purchases of government bonds, corporate bonds and other financial securities, and loans at preferential rates.

The euro has strengthened

In addition, retail sales continued to decline in Japan in September, from 1.2% yoy, due to the fall in purchases of TVs after an exceptional run in early summer, announced the Ministry of Economy Thursday. However, car sales have stopped their dive.Consumers remain cautious overall spending due to fears generated by the earthquake and tsunami in the northeast of the archipelago on March 11 and the Fukushima nuclear accident they caused.

Side values, the action of the group of cameras Olympus flew more than 20% Thursday at the Tokyo Stock Exchange, following the resignation of its CEO Tsuyoshi Kikukawa, accused by his British predecessor Michael Woodford to have overcharged acquisitions between 2006 and 2008.

The euro has strengthened, buoyed by hopes of resolving the crisis in Europe. It was worth 106.26 yen and 1.3975 dollars in Tokyo Thursday morning, 1.3908 against the dollar and 105.98 yen in New Yok the night before.

Finally, oil was up, after the sharp fall the previous day in New York.In electronic trading in the morning, a barrel of "light sweet crude" gained 1.11 dollar to 91.31 dollars a barrel while Brent North Sea crude for December delivery took 70 cents to 109.61 dollars.

All will be played Wednesday. "No decision will be announced following the summit of the euro area, which takes place this Sunday late afternoon in Brussels, although work is progressing well," said Nicolas Sarkozy and Angela Merkel in a joint press conference after a meeting of leaders of 27 countries of the European Union. French President and German Chancellor said that the work "techniques" were still to be completed by the new top of the euro area on Wednesday. The summit will be preceded by another meeting of twenty-seven, they said. "Work is progressing well on the banks of the support fund and the potential use of this fund. The assumptions are tightening and a broad agreement is taking shape. "

On the issue of Greece, progress, assured the leaders without giving details.The stabilization of the indebted country will pass through international loans and additional losses of creditor banks in the country. Europe the figure to at least 50%. According to the report of the troika (representatives of the EU, the ECB and the IMF), the discount should be 60% to maintain unchanged the envelope of € 109 billion promised to Greece, as part a second rescue plan officially recorded on July 21.

Main stumbling block between Paris and Berlin, the transformation of the European Financial Stability Fund (EFSF) in the bank, which insisted on France, finally does more of the options considered by the finance ministers of the single currency. The idea was that the Paris Fund bank can borrow from the European Central Bank. "The two options still on the table to strengthen the EFSF do not involve the ECB," confirmed the German Chancellor.This leaves two options: either the mechanism acts as a partial insurance of the public debt of troubled countries or the IMF is expected to increase its participation in the scheme.

In another area, "the work is progressing well on the recapitalization of banks," said Nicolas Sarkozy, again without providing details on the proposed solutions. Countries of the European Union discussed a budget from 107 to 108 billion euros at the meeting of finance ministers on Saturday night. "Banks must find the money markets," stressed Angela Merkel.

Finally, the pressure on Italy is maximum. The two leaders urged the Italian Prime Minister Silvio Berlusconi, with whom they met ahead of the summit, for it to decisively implement a program of growth and debt reduction Alps no fax payday advances."I hope that decisions will be taken (…) Italy is a major economic force but it has a very high public debt should be reduced in a credible manner in the years to come," says Angela Merkel . Nicolas Sarkozy has outbid by saying that Paris and Berlin were "confident sense of responsibility of all the Italian authorities' political, financial and economic."

"Do not repeat the mistakes of the past"

"We must work differently in the future," said Angela Merkel. German Chancellor said that we should not "repeat the mistakes of the past." The problem of the euro area far exceeds that of Greece, she hammered, emphasizing the need for each country to conduct "a tighter fiscal policy."The President of the European Union, Herman Van Rompuy, confirmed on Sunday that the EU treaty could be modified to improve the functioning of the euro area. "The aim is to deepen our economic union and strengthen our fiscal discipline," he said.

Europe is facing economically to "serious challenges", said Herman Van Rompuy, at the opening of the EU summit this morning. He felt that the decisions to be taken by EU leaders to deal with were "perhaps the most important" they've ever had to face the financial crisis. Greek Prime Minister George Papandreou, had also felt it was "time" to take "decisive and effective." "It is clear that the crisis (debt) is not Greek. This is a European crisis, "he judged.

For its part, the Belgian Prime Minister Yves Leterme had tried hard not announce anything at all on Sunday, in light of market pressure. "It is essential for tomorrow morning at the opening of markets, we have made sufficient progress so as not to jeopardize the credibility of the euro area," he said. Same story for the European partners have not adopted the single currency, which are concerned about the fallout from the debt crisis. "The crisis in the euro area is being extended to all our economies, including that of Great Britain ', launched the British Prime Minister David Cameron.

(With agencies)

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