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Trial by fire will not take long for the new fiscal pact of the euro. The Greek case almost settled, Spain came to test budgetary discipline endorsed ten days ago the top twenty-five twenty-seven EU countries.

The Prime Minister Mariano Rajoy has opened Pandora's box by informing the press that the deficit would reach 5.8% Spanish this year, instead of 4.4% agreed with the European Commission. Madrid has aggravated his case by adding it as a "sovereign decision" taken, ie, without further consideration for collective discipline introduced under pressure from Germany.

"The paths taken in 2012 are the least important"

Met on Monday, the finance ministers of the euro area have agreed to a request from Spain but have reduced the target to 5.3% of GDP. To the President of the Eurogroup, that is not essential: the priority is to reach Madrid 3% deficit in 2013. "We agreed that Spain will meet the deficit target of 3.0% (GDP) in 2013 and will, from today and until then, a consolidation course of the about 0.5% of GDP, "he said. He added: "It is the responsibility of the Spanish authorities to identify initiatives to be taken to reduce the budget deficit in 2012, is the most important objective for 2013. What is less important, although still important, are the paths taken in 2012. "

Subsidies removed

Echoing the debate on Greece, the case questions the wisdom of budget cutting in an economy already mired in recession. This is the dilemma of the Prime Minister Mariano Rajoy: a Spaniard in four is now unemployed.

Conversely, the Eurogroup can tolerate an exception to the pact, while text remains to ratify everywhere, including in Berlin? "Spain is not alone in this situation," worries a diplomat, recalling that 23 of the 27 EU countries are still in deficit "excessive". Hungary may be deprived of 495 million euros of EU subsidies in 2013 if it fails to take prompt corrective measures. The Netherlands themselves, heralds of the orthodox, must cut their credit crash.

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"Europe is offering a respite delicate background of recession

Times are tough for young graduates. If students are struggling large schools unless their fellow academics, the path to the first job is difficult for everyone.

The current promotion of the ESSEC & Mannheim Executive MBA, or 46 frames back on the benches of the school to develop their potential, chose to give them a boost. As part of their class project "Challenge of the first job," they concluded an agreement with the Café of the future. This association helps young graduates in their job search, through sponsors of the business world. It organizes monthly meetings for it in "neutral zone", in cafes in this case.

"The goal is to break down barriers, says Françoise Lefèvre, president of the association. Young people are not prepared for the world of business. This is particularly true for graduates from college, but also for schools of engineering and business, we are seeing more and more. "These account for 40% of the profiles that the association sees passing. "We help them build a real job search strategy. 23% of youth unemployment in France, it is not permissible. "Since the inception of the association, five years ago, 150 managers have helped more than 2,500 young people.

Lack of transparency

Participants of the Executive MBA are as committed as chaperones. The first meeting was held on November 28. Of the 40 young unaccompanied, 15 found employment. The second, held today in the cafeteria of the Microsoft headquarters, will be followed by an evening debate in the presence of patterns, HRD, elected officials and academics. With a focus on the interview and the issue of transparency

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MBA students have indeed conducted a survey of graduates (*) on this key moment, clearly identified by both parties as a game of hide and seek. "This lack of transparency affects the fluidity of the labor market payday loan lenders. Young graduates are aware, "says Gregory Lagabe, ESSEC MBA student, who coordinated the study. At 74%, those surveyed consider that they are not transparent may not correspond to the position. Interestingly, 92% say they are transparent in the interview, then they believe that only 46% of recruiters are … This reflects a lack of confidence undeniable. The survey also revealed differences between graduates and academics, the former being more transparent (73%) of their career than the latter (59%). "They are more transparent because their career plans is often clearer, which affects their ability to find a job," says Gregory Lagabe. According to the survey, they are 3.5 months to find employment, against 6.3 for academics.

"We must return to the human"

"Do not mechanize the hiring process. We must return to the human, "insists his side Xavier Fontanet, former president of Essilor, claiming in firms' best practices more widespread than we think." "Companies are looking for personalities. In an interview, a recruiter search for bumps, "says he, finally, inviting young people to showcase their life experience and" hidden talents ". "At the time of hiring, graduates usually come with very specific ideas, like" I want to be Claire Chazal or product manager at L'Oreal "… We must open his fields of research," said Will it

(*) Study conducted between December 2011 and March 2012 with 259 young people under 30 years of baccalaureate level 5 and above.

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ArcelorMittal Lorraine, Photowatt, Lejaby, media coverage of industrial sites in need is strong. This is not surprising, given the economic difficulties in Europe. This increase is also due to stakeholders-employees, union leaders, but who understood that they will get a very careful listen policies. There is much to gain in the current circumstances.

• ArcelorMittal firm capacity throughout Europe

Lorraine blast furnaces at ArcelorMittal no longer produce steel since last summer. The leaders of the world's leading steel explain that this closure is only "temporary", due to weak demand for steel on the Old Continent. Besides, ArcelorMittal closed other sites in Belgium, Spain, Germany or Romania.

• Photowatt is taken by EDF

The Commercial Court has adopted the EDF takeover offer on Monday. 355 employees and apprentices Photowatt will remain in the company. The other 70 will be reclassified within EDF. Under bankruptcy protection since November 8, Photowatt has been affected as the entire solar sector by drastic revisions of installation aids. The arrival of EDF on this issue was nothing obvious. Nicolas Sarkozy announced himself on February 9 during a visit to the Fessenheim.

• Fralib again in the news

Francois Hollande gave the site Fralib Gémenos, in the Bouches-du-Rhone, on the front of the stage. February 24, before the employees of this factory that manufactures the Elephant tea, he asked the gratuitous transfer of the brand. The proposed closure of the site, owned by giant Unilever, date 2010.

• Six-month suspended sentence for the Petroplus refinery

The Petit Couronne refinery will be restarted in May. The Anglo-Dutch giant Shell will deliver 100,000 barrels of oil to Petroplus, its owner. This delivery will allow six months of operation. The site's future is not assured. He is a victim of excess refining capacity in Europe, weighing on profitability payday loan. In the Bouches du Rhone, the LyondellBasell refinery was closed and since the beginning of the year.

• Doubts about the future of Peugeot-Citroen in Aulnay

The poor results of the annual Peugeot-Citroen have not reassured the employees of the site of Aulnay. "Reductions in surplus production capacity in Europe is inevitable," said Philippe Varin, Chief Executive. The question of the future site of Aulnay necessarily arises: the manufacture of the Citroen C3 is planned until 2014 and a closure to this horizon was discussed in an internal document last June.

• A leather specialist for help Lejaby underwear

Sofama, a subcontractor of LVMH, which employs 200 people, finally came to the rescue workers of the factory Lejaby Yssingeaux early February. The situation was very precarious. The commercial court of Lyon had indeed retained in mid-January an offer providing for the permanent closure of the manufacturing shop Yssingeaux.

• The Goodyear site north of Amiens still for sale

The Goodyear site north of Amiens is in crisis for five years. Since December 2010, agricultural tires business, which employs more than 500 of the 1,350 employees of the site must be assigned to the American Titan. The latter has renounced the acquisition last December, before sitting down again to the negotiating table in January, under the Ministry of Labour.

• Renault places an order at the Fonderie du Poitou

Mid-January, the industry minister, Eric Besson, who said the large orders placed by Renault at the Foundry in Poitou. Specializing in automotive cylinder heads, the subcontractor is placed under bankruptcy protection since October 19. The Commercial Court has extended this period until 14 March. Several takeover bids were submitted.

A few hours were enough to blow up worldwide sales of securities of Whitney Houston on iTunes. Two compilation albums, and The Ultimate Collection Whitney – The Greatest Hits, have each been number one in the world and the United States, this weekend. For now, purpose requires Grammys, Adele comes back in front with his album 21. The tube I Will Always Love You, taken from the soundtrack of the movie Bodyguard, in which she starred alongside Kevin Costner, who has sold over ten million copies, remains the most famous of his career. As a tribute to the diva, Jennifer Hudson sang the title at the 54th Annual Grammy Awards on Sunday.

21221222396 by YardieGoals

The American singer and actress died suddenly on Saturday at the age of 48, in a Beverly Hills hotel. It was the same evening, attend a gala held annually by her mentor Clive Davis in the hotel where his body was found. The artist was also made in rehearsals for the show Thursday. According to a person present, she seemed disturbed, was sweating and his breath smelled of alcohol and cigarettes. The cause of his death are still undetermined, however, Lieutenant Rosen says that "there is no reason to believe that the singer's death is linked to a criminal act."

The images of his final scene:

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"Kleftes! Thieves! "The insults burst forth in the processions of anti-austerity protesters in the streets of Athens these days. The Greeks win against a political class accused of making no sacrifice while officials have seen their wages blend of 20% and expects the same treatment as private sector employees. MPs in particular are accused of refusing to lower their pay by 10% at the height of the crisis in 2011.

"Until now, politicians have not been transparent about their incomes and citizens suspect that considerable sums are spent for miscellaneous expenses, or that MPs employ family members as assistants," says Nick Malkoutzis a, journalist with the daily Kathimerini.

The Easter bonus deleted

MEPs, however, made a few sacrifices. The 13th and 14th month salaries were eliminated, as in the rest of the civil service in 2010. Last July, the attendance fee paid for participation in a meeting of the 34 parliamentary committees was reduced to 150 euros, against 245 euros before. Premiums Easter, Christmas and holidays have been removed, additional taxes created. These measures have melted the monthly salary of 3375 euros per head on average, according to elected officials.

Parliament said today that the gross monthly salary now stands at 8,221 euros, 4,231 euros after taxes. Are aligned with the highest salaries of public service. In comparison, a French MEP wins 5189.17 euros net. Still, the Greek Parliament plans to spend 34.2 million euros in 2012 for salaries, including bonuses and other compensation. What assure members a sum of 9500 euros per month, plus office and secretarial included.

The difference, ultimately, does not seem huge with the situation before rigor sets. Last December, Parliament has in fact published on its website, for a few days, the tax returns for 2009 of 300 MPs. It was to answer charges of opacity.

Income gaps

Salaries, allowances, current accounts, real estate, and other financial transactions in this document. It shows that in 2009, elected a ten won more than 9,000 euros per month through its sole parliamentary activity. What must be added, for some, a second salary (in Greece, one elected is entitled to retain his original job posting) as well as income potential spouse. Then the gaps widen between the richer members of the assembly (six of them earned more than 33,000 euros per month) and more modest, saying some 2,025 euros monthly income for their household.

"While the debate on the wages of 300 Deputies Greek is symbolic. They represent only three thousandths of the state budget. But the political class has missed the opportunity to cut its own salaries along with those officials, two years ago, analyzing the Greek-Swiss historian Nikolas Bloudanis. It would have been a symbolic gesture extremely important. "Times are changing: this week, for the first time, an elected, Dora Bakoyannis, head of the small liberal party New Democracy (four members), has proposed halving the salaries of parliamentarians .

How much do Greek political leaders

George Papandreou. Photo credits: JOHN KOLESIDIS / REUTERS

Gran Via, Saturday afternoon, thousands of Madrid overflowing sidewalks to rob the shops in the center. Plaza Santa Ana customers compete tables for a drink and some tapas … According to a recent survey, 68% of Spaniards say they are happy despite the economic depression. The Spanish crisis is a strange crisis. Five million unemployed, a growing debt to half-mast and the edge of the alert levels, but the fiesta continues. On the surface, anyway.

The costs of the crisis, in fact, are unevenly distributed. On the one hand, those who keep their job. Possibly concerned about the situation, their objective situation has changed little since the crisis began, three years ago. On the other, 21.5% of those unemployed, whose number is increasing. Poorly defended, forgotten unions, their suffering is silent.The bank is threatening to enter the apartment of the family, a three bedroom 45 m2 Carabanchel, a neighborhood south of Madrid online payday loans. "A desahucio" expulsion of more. In 2010, 100,000 Spanish families were evicted four times in 2007!

Caritas, the equivalent of Catholic Relief Services, published three years the results of the Observatory of social reality. The figures are more alarming each year than the previous year. Juan Jose Lopez, the research department of the NGO, said the number of persons received by Caritas has more than doubled since 2007: 950,000 people have knocked on the door of the association in 2010 against 400,000 three years ago. "The situation worsens and becomes chronic."

If the threat is executed, Alejandro is considering several options. "Yes I Can camp, but my mother is 60 years old.

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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This morning, the Superior Audiovisual Council (CSA) summoned the three news channels continuously BFM TV, iTV and LCI for a wake-up call muscular. The subject? These chains have gone far beyond the time allowed the Socialist Party (PS) during the primaries. The rule of speaking time issued by the CSA requires TV stations to give the parliamentary opposition (PS), a talk time of 50% that of the majority bloc. Settlement takes place on three months of information for newspapers and magazines for six months of information.

However, the CSA noted that the period from 1 July to 30 September, the news channel did not respect this balance on newspapers for information."ITV has given the opposition parliamentary speaking time 146% higher than that of the majority, BFMTV gave 142% and 130% LCI! Unheard of at this level "protests Christine Kelly, a member of the CSA in charge of the case. "The time allowed to PS was significantly exceeded" acknowledges CEO Guillaume Dubois BFMTV. "We have given priority to the information. Now the case has raised the antenna DSK in July and August, the Senate elections and primaries PS mobilized in September. We invited representatives of the majority but they decided to be discreet "defends Guillaume Dubois. "It's not the fault of having warned replies Christine Kelly. I have met for the first time in July and I have warned against a possible slip of the Senate and the primary "

Tomorrow morning, the CSA will meet in plenary session.Constable Audiovisual could decide on a formal channels of information. "It's a yellow card. But if they start, then the CSA will release a red card and take sanctions "warns Christine Kelly, a member of the CSA.

However, the CSA notes that most other television and radio all have fully complied with the instructions. On the side of France Televisions, which also broadcast the primaries in two news magazines, the balance was followed. Information for newspapers, counters ended September 30 show that the parliamentary opposition bloc has 51% of speaking time points Thierry Thuillier, the Director of Information of France Televisions.The new review period from 1 October to 31 December, France Televisions ensure balance time for the presidential majority, including calling Francois Fillon to 20 hours of JT France 2 tonight.

For news magazines, France Televisions has until Dec. 31 to offset the 4:45 discussion devoted to the primaries. Already Alain Juppe had been invited for two hours in the program "The words and actions" on September 30. Tonight, the program "Crossword" lasting 80 minutes will receive a majority of three personalities: Lionel Luca, Chantal Jouanno and Herve Morin. Finally, France Television is negotiating for an intervention of Nicolas Sarkozy on October 24.In this case, if the head of state talking about the crisis of the euro or Greek debt, his time is not counted, however if he talks about domestic policy, then the speaking time will be taken into account.

After a lull last week, financial markets have plunged sharply Monday. Concerned about the lack of strong commitment of European finance ministers to support Greece, this weekend, and surprised by the tensions between Europe and the United States, investors are more likely to feel inevitable a lack of Athens. In Paris the CAC 40 index fell 3% while the German Dax gave up 2.83%. Again, it is the banks that were hardest attack.

The declaration on Sunday night on TF1, former IMF Managing Director Dominique Strauss-Kahn, for whom "we must accept to recognize that we must take his loss" of Greece was the effect of bomb."Hearing that DSK four months ago the IMF also urged new funding for Greece say the exact opposite now shows how events have turned," says Bruno Cavalier, chief economist at Oddo Securities. For the latter, there is a "real tired of the financial markets who want to wipe the slate clean once and for all to get back on firmer footing."

A feeling evident in a survey by Barclays Capital from major global investors. They are 24% think that the current crisis will lead to a breakup of the euro area. Over 60% of them believe that the European Financial Stability Fund (EFSF) will be insufficient to resolve the debt crisis.Although little scientific significance, such polls show the amount of work to be done now to reassure the magnitude of the crisis.

Bercy wants to reassure

France, Monday it is used by the voice of its Minister of Economy Baroin for which a default of Greece "is not a working hypothesis." At Bercy we stick to the same line of defense when all European countries have adopted the plan of July 21, that is to say by mid-October, the bleeding will be stopped.Reasoning that is opposed to that of economists who say a failure Greek is becoming increasingly economically rational, "If they want to avoid a failure of control, the Troika and the European Union in particular have an incentive to relieve pressure on the objectives short-term budget of Athens by insisting on the implementation of structural reforms to boost potential growth in Greece, "say economists at Morgan Stanley.

Rather than a sudden failure, we must consider a debt restructuring in the short term, implying a lower repayment installments provided for in the coming months to ease the Greek public finances.The major risk of such a scenario is a contagion to other peripheral countries "can be avoided if the ECB goes on the front lines and discourage speculation against the Italian debt by buying heavily," said Bruno Cavalier.

Creditors on deck

In this climate of growing skepticism, Greece somehow continues the implementation of the agreement of July 21, which passes through the participation of private creditors. Artisans of the device designed to reshape 192 billion euros of Greek claims STRIPS to complete the offer in October. "This operation can not be done in a snap. It is very complex technically and supports many constraints, "insists Fabrice Faure-Dauphin, a partner with law firm Allen & Overy, the Board of the operation.And insist: "If Greece were to miss a deadline, it does not fundamentally change the rules and would not offer more solutions to the problem."

The only good news, the first signals of the voluntary contribution of banks and other insurers are quite positive. While Greece requires a 90% interest in the exchange, some suggested a rate of 75% or 80%, almost unexpected. At these levels, the operation would have every opportunity to move forward. "A contribution of 85% instead of 90% needs to find an additional 8.5 billion euros," analysts calculate Barclays Capital.If Athens was a survey of creditors, the real success of the operation will not be known until after the formal offer proposal issued by the Greek government.

Athens without a loan repayment expected before December, this still leaves him time for both to continue its negotiations with the Troika and to carry out – or not – this massive debt restructuring for its crucial public finances. Meanwhile, the markets do not.