From our correspondent in Brussels

Between doves and hawks her, Euroland barely keep a cool head on Greece. In a sentence, the European Commissioner Karel De Gucht has upset all the Friday speech intended to persuade Greek voters to make sacrifices if he wants to keep the euro.

"The ECB and the European Commission (…) study of emergency scenarios if Greece does not recover," dropped Karel De Gucht Belgian daily De Standaard. It was enough that a news agency transforms the event into "emergency plan" to exit the euro as markets become inflamed Friday.

Brussels later denied, against all probability, the very existence of the crisis scenario, whereas it is the role of staffs to anticipate. The ECB itself does not exclude it. Known for his outspokenness, Commissioner De Gucht is not the first to trip in the contradiction of speech.

The weekend is its chief Jose Manuel Barroso, who set fire to the powder by saying that "better" than Greece leaves the euro if it refuses to play the game President Committee had to make amends, just before reaching Washington, ensuring that Athens "is part of the family." Monday, it was the turn of Maria Fekter, Austrian Minister of Finance, a slap on the wrist because she wanted to leave Greece to the euro and the EU, even then readmit him.

To impress the Greeks, the European discourse can not ignore the scenario of rupture. The problem is that whenever the "bogeymen" open their mouths, they also wake up the specter of a breakup of the euro markets.

Profitable strategy

In Greece, the radical left Syriza, credited with 20% of votes in the polls, seen in the parliamentary elections of 17 June a referendum for or against the austerity, the euro should remain in the table. Europe, tired of paying to no avail, distills a message more complicated: June 17 it will be a referendum for or against the common currency, knowing that the rejection of the euro would lead to bankruptcy even more expensive for the Greeks.

The approach – now responsible Greek, European solidarity later – was agreed in Athens with the two traditional parties, the conservative New Democracy and PASOK socialist, says one in Brussels.

Without interfering officially, Europe wants to make clear to the Greeks that they can not pull the cake and eat it too. In return, Europeans are showing their commitment and offer a promise of better times. These days, were so bent on the exercise for Jean-Claude Juncker of Eurogroup, Mario Draghi for the ECB and Francois Hollande and Angela Merkel in Berlin: "Greece must remain in the euro."

Despite these boondoggles, the strategy can pay off. The conservative New Democracy (ND) replicate the advantage over their rivals Syriza recent days, according to surveys, in Athens opening the prospect of a majority in favor of austerity. Karel De Gucht said himself: the endgame has begun and the question "is whether everyone can keep his cool" to the end.

Trichet's plan to save the euro

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To avoid the breakup of the euro, the former ECB President Jean-Claude Trichet claims to have a plan: put the financially troubled countries under the tutelage of Brussels, if it is unable to implement policies budget approved by the EU. It would operate a federal mechanism "outstanding", when fiscal policy of a Member State slips to threaten monetary union.

"Federalism exception seems not only necessary to ensure a strong economic and monetary union, but it could also adapt to the true nature of Europe in the long run," said the former president of the ECB to Peterson Institute in Washington. The idea is not new. It was proposed by German finance minister, Wolfgang Schäuble, who wanted to entrust the finances of Greece to a "supercommissaire". Interference rejected by Athens as deemed "undemocratic".

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Since 2009, the law allows employees to unemployment benefit for 9 months of maintaining its mutual after her dismissal. The former employer continues to bear its part: it can contribute to a cost lower than most comparable personal contracts. This is an interesting solution for the short term if this mutual offers individual coverage. However, if coverage is "family" imposed and that the recipient is single, a mutual personal can then be cheaper.

Mutual sharing

If the spouse or PACS itself has a mutual group, you can usually be associated with it, sometimes even for free during the period of unemployment and no medical formalities. If it is a personal health insurance underwritten by the underwriter, the attachment is also possible, but will then undergo a medical questionnaire (often oversimplified).

Namely: companies often offer a discount of up to 20% on the second contribution.

Keep or take out individual mutual

Unemployment does not affect the mutual: the insurer can not exclude the beneficiary. It is recommended to note the change of status, it's part to provide information. Some also provide mutual free contributions for the period of unemployment of their members, subject to seniority and within certain limits. For those arriving after the hold period of hedging business, better not to wait until the last moment to buy, because of waiting periods.

What guarantee should you subscribe?

If it is not necessary to provide very high coverage on dental and optical period of unemployment, we must not overlook the medical expenses and hospitalization. If the new employer imposes a mutual company, it will then suffice to terminate this mutual personal at any time.

Note: the new mutual company may provide a waiting period. Better to wait until the end (and that of the trial period) to cancel his personal health insurance.

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Finally, the new stadium in Lille will be delivered on time. "We'll play mid-August our first game of the season at home," says Michel Seydoux, chairman of the LOSC which evolves in Ligue 1. But behind the scenes, the standoff is not over. Reportedly, Eiffage who built this house demands a hundred million to his client, the urban community of Lille. Concerned, administrative delays that forced the construction group to leverage teams to meet deadlines.

With the organization of Euro 2016, France has decided to rejuvenate its fleet of stages. Four out of the ground and go four or five others will be renovated. Operations treacherous. Especially for construction groups that often lead these operations as a PPP (public private partnership-). Clearly, they build these speakers with their own funds and bank loans and are remunerated by the operator of more than thirty years. Vinci will manage this formula with the new stadiums in Nice and Bordeaux, Lille and Eiffage that of Bouygues Stade Velodrome, Marseille being renovated.

The obstacle course begins with countless appeals to justice. They can block the project because if they are serious, banks may freeze their loan. A random number taken seriously in view of the foregoing. At Valenciennes, the new stadium was delivered in July 2011 with a year late. The work was interrupted several months due to legal proceedings.

In Bordeaux, the partnership agreement itself, which is contested before the Administrative Court. "The process is ongoing but does not prevent us from pursuing studies prior to construction should begin in a few months," said Fadi Selwan, development director of Vinci Concessions. The Group therefore maintains delivery in 2015.

Disappointment at Le Mans for Vinci

In Nice, there is an appeal against the building permit. But banks have tried without real danger. They finance the construction site so that advances at a good pace. And the stadium should be finished, as agreed in the summer of 2013. Same optimism to meet deadlines in Marseille while the renovation takes place in the Velodrome stadium where an OM continues to play its games. "The major work is completed and a forum of four is remade," Bruno slips Botella, Bouygues support to manage this grant. Result, the Velodrome, in its new configuration, scheduled to open in June 2014.  

Once completed, the hard part begins for construction groups responsible for operating these speakers. For this brand new business may be of surprise, as was discovered by Vinci, dealer of Le Mans stadium, inaugurated in January 2011. This enclosure was configured to seat 25,000 for a club in Ligue 1, or the home team is behind the bottom of the standings in League 2. "We have significantly reduced the rent charged for the Le Mans FC matches and the club did not make the 6 million to the concessionaire as planned," says one at Vinci.

The risks are smaller for stadiums built in large cities. But several questions remain. For example, to maximize their operations, construction groups expect all of revenue related to the organization of concerts and shows in addition to games of the resident club. The stage is betting on Lille from 20 to 25 such events. The Velodrome in six. Remains to be demonstrated that there is enough events could fill a stadium area.

Finally, all expect finding a group willing to pay five million a year minimum to give his name to the stadium. But for now, nobody has found a generous patron.

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Concern is growing about employment in the telecom sector. Jean-Claude Mailly, general secretary of the Workers Force, wrote to Constable telecom (ARCEP), with a copy to Francois Fillon, a letter to "attract (his) attention to the impact of the fourth mobile license in the sector ". An appointment was set with the President of ARCEP, Jean-Ludovic Silicani next Monday late afternoon.

"Our fears are a large alignment with lowest social ultimately affect employees in terms of pay, job destruction and group benefits and more generally on the future of this branch , "wrote Jean-Claude Mailly. "The public authorities must establish as quickly as a regulated framework for preventing the destruction of jobs and preventing these abuses do not fall into place," he adds.

Concerns for call centers

End of March, in an interview with Le Figaro, Jean-Ludovic Silicani indicated that the sector "risks losing about 10,000 jobs in two years." But this destruction should be creating value, generating new jobs at Free Mobile first, but also in related sectors such as electronic commerce or the Web.

A macro view is far from convincing FO. "Our feedback from the field we are rather echoes of 30,000 job cuts on the entire industry," said Pascal Pavageau, FO confederal secretary in charge of economic and industrial.

Orange, SFR and Bouygues Telecom, destabilized by the arrival of a new competitor, of course, have interest in stirring the cloth of employment quick guaranteed personal loans. "Some may want to cry wolf. But we see that restructuring is already underway among operators: contracts are stopped, benefits with subcontractors shall be adopted, the new hires are canceled and call centers are now going abroad, " Pavageau said Pascal, even claiming that "3% to 7% of jobs in France are starting to be outsourced, mainly on call centers." In the medium term, the union also fears that the sector is no longer able to invest as much in development, innovation and research and development.

That is seeking its FO meeting with the regulator? "First, we want to immediately and quickly, from the regulator and the government, an overview of employment in the sector, says Pascal Pavageau. Second, we want the government obtain a commitment of four operators in the maintenance of employment in France and their investment opportunities. "

The union will even consider that Oseo or ISPs may be called on to provide funding, if necessary.

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"Ask the fiscal program of Sarkozy!

"Ask the fiscal program of Holland!

It speaks only of "it": family, friends, in shops, on leaving school … Less candidates in the presidential election evoke, he obsesses over the French. "It" is the higher taxes will fall on taxpayers in the coming months. For if not all are promised the same tax hell, few people are certain to escape. ISF for VAT through the income tax, local taxes or the CSG, all candidates for president – without exception! – Promise to raise taxes. More than seven in ten French expect, according to our survey Opinion Way – Fiducial.

Recognizing the need to redress the public accounts, the French are frankly skeptical about how go about policies. According to our survey, 83% believe it would be better to start by addressing the reduction of public expenditure. Las … Both favorites of 6 May, Nicolas Sarkozy and François Hollande, have detailed these days their tax proposals, which leave little doubt about their intentions.

Click on the thumbnail to enlarge the graphic.

Side of the president candidate, it is argued that the rebalancing of accounts goes to three quarters by controlling public spending. Higher taxes will do that for one quarter. Moreover, it adds in the entourage of the head of state, the bulk of tax increases has already been voted. In recent months, 32 billion in new revenues were indeed acts by Parliament and began to take effect. It is largely due to the increase in the tax burden that France was able to record a deficit lower than expected in 2011: 5.2% of GDP instead of 5.7% originally expected.

The reduced VAT rate increased from 5.5 to 7% in late December (except for staples). Social charges on savings have been identified, tax loopholes, planed, and an outstanding contribution is requested with the highest incomes. A total of 11 billion euros of additional levies on households' most-favored "have been decided," because the solidarity required "at this time of crisis, Nicolas Sarkozy justified in his Letter to the French. How to respond to the argument of "tax giveaways to the rich made" repeated by his opponents to long speeches.

Conspicuously absent from the count of the president candidate, rising by 1.6 percentage points of VAT, already passed, is expected to come into force on 1 October. "It is not a levy increase, as it will be fully offset by reductions in social charges on low wages," says one of his entourage. Not sure this is enough to convince the French, skeptical of this "social VAT" (52% opposed, according to our survey).

Nevertheless, it remains to be Nicolas Sarkozy another 8 billion euros to find to meet its goal of a return to 3% deficit next year. But the UMP candidate has promised if re-elected, "no tax increase will weigh on households', except the famous" tax on tax exiles, "which he expects 500 to 700,000,000 euros year.

tax reform is the No. 1 priority of Holland

With Francois Hollande, however, taxpayers will not have completed the tax increases. If elected, the Socialist candidate wants to make tax reform the "mother of all reforms" of his five years. He warned that the tax burden would contribute half the recovery of accounts of the country and announced a forty billion of new taxes, of which 16 billion would weigh on individuals, especially the "most affluent". The team of the socialist candidate is careful to note that these increases would be added to those of M. Sarkozy … because, apart from the increase in VAT on books (from 5.5% to 7% since April 1) and the "social VAT", the PS candidate does not come back on measures already enacted.

By the summer, according to its "road map" published on April 4, Parliament would be asked to vote shock measures announced during the campaign, such as capping of tax loopholes to 10,000 euros per year, great tranche of 75% for revenues of over EUR 1 million, but the end of the tax exemption of overtime.

Despite this clarification in the calendar, remains a big blur of headlights more ads. For example: measures of higher taxes on income, such as super-slice or ceiling niches, would come into effect this year or January 1, 2013? The tax on millionaires would it apply to income tax or the home, such as tax practitioners presentiment, by hand? What about the ISF – payable in June – that Francois Hollande plans to burden? Would it be postponed until September? Is there a tax shield to 85% of income as suggested by the candidate? His entourage of these questions is swept out of hand: "These are questions for a budget minister, not a candidate as president." Tuesday, Michel Sapin, in charge of the socialist project, said the super slice to 75% would last "as long" as the recovery of the finances of France require.

Beware of leaving headquarters

Meanwhile, it was panic. Tax consulting firms claim to be inundated with requests for expatriation. "There is a before and after 75%," says a Parisian tax. Unprecedented fact, artists stamped on the left as Jamel Debbouze have spread in the media against proposed tax of Holland. Francoise Hardy has even been suggested (Paris Match 5 April) that it would move to London if they win socialist. Not sure that her friend is still a rose … Especially as the Socialist candidate, in reply, accused the stars of "whining" about their taxes! But the Dutch team, in private, multiplies the reassuring statements. The super slice? This is to "send a signal to the bosses of the CAC 40 and their extravagant salaries," they say. Everything will be done to protect athletes and artists (how? Mystery, equal taxation is a constitutional principle sacrosanct).

And for everyone else? For the Socialist tax plan, if passed as is, would increase the rating of millions of taxpayers, far beyond a few hundred privileged, as shown by simulations that we have asked the Cabinet Delsol Lawyers. Certainly, large estates and high income are at the forefront. But they are not alone.

Take the alignment of taxation of capital income on those work. This provision "could have important implications for public shareholding," warns Mathieu Le Tacon, Delsol of Lawyers, which states that dividends are already taxed once at the corporate income tax (33.3%) in the company before being taxed at the shareholder. The taxation of overtime? It will affect many employees, and 235,000 teachers who have won, thanks to them, additional one billion euros last year.

]]> http://oursaviorsalbany.org/taxes-what-lies-ahead/feed/ 0 http://oursaviorsalbany.org/poker-legend-behind-the-whale-of-london/ http://oursaviorsalbany.org/poker-legend-behind-the-whale-of-london/#comments Wed, 11 Apr 2012 22:04:20 +0000 admin http://oursaviorsalbany.org/poker-legend-behind-the-whale-of-london/  

Cemented over the Internet and social networks, legends are built today at full speed. Especially in the "global village" of finance. Demonstrated experience in recent days by crossing Iksil Bruno, senior trader but anonymous until last Friday the bank JP Morgan in London.

The man remains discreet, understandably. Within days, he became the "whale of London", or "the Thames", or "white" – we do not know too much – or Voldemort, the terrible witch of the Harry Potter … The number of nicknames given to it becomes suspect. The story is told that then took a dramatic turn when it was revealed that the banker in question was French, a fact which would be enough to make a "trader crazy," Kerviel in a power nap.

This trader is part of the Chief Investment Office of JP Morgan in London. Mission: to cover the global credit risk of the bank. A bank, remember, which is one of the first in the world with some 2.3 trillion dollars in assets, including nearly 1 trillion of bank loans or bond companies.

Cover such a balance, that is to say smooth risk, entails putting a lot of money in the balance. And that's what the CIO of JP Morgan in London: its positions would reach $ 350 billion, according to the Wall Street Journal. A figure which should not be misunderstood. Within this volume, the positions that bet on the rise of a particular index are largely offset by positions that bet on a decline, leaving the final few tens of millions of dollars, still in danger Loss … or possibility of gain.

An aberration of market

Why the activity of this team of JP Morgan is she suddenly appeared in full light? Bruno Iksil would take very large positions on a particular index, a derivative that replicates the behavior of CDS (credit default swaps) of some 121 companies. Such large positions that its movements can only move the value of this product, regardless of the price of 121 CDSs that compose it. A market aberration which obviously was not without consequences on some hedge funds, put in losses by the orders of the influential CIO JP Morgan. It is in this context it seems that some seem to have wanted to settle accounts in the press intermediary.

Behind "the matter of the whale in London," we therefore call one of those pretty poker games including financial traders have the secret. JP Morgan, who has not the reputation of being a bank-casino chooses to treat it with discretion. She is content to know that the activities of its London office are intended to cover its loan portfolio, and that the positions taken are knowingly.

The story may therefore be short-lived. Even if it raises real questions about the functioning of finance today. The first key of course the lack of market transparency of derivatives products, and in particular credit derivatives, whose gross volume reached tens of billions of dollars worldwide. The second, current, examines the nature of transactions. When these volumes are involved, is it still just hedging strategy or can we not think that JP Morgan also plays some of his capital? Soon, this question is no longer just theoretical: under Volcker rule that will apply to U.S. banks that collect deposits, such as JP Morgan, will no longer have the right to make the proprietary trading .

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Champs-Elysees, Fifth Avenue … This is the new playground for Kusmi, the French retailer of tea bobo to conquer the urban working women and 30-50 years. Bought in 2005 by Sylvain Orebi, former dealer in cocoa and coffee, this old brand founded in the nineteenth century Russian wants to move up a gear. "We want to be the first premium tea brand in the world, and we give ourselves the means, the goal being to exceed 100 million by 2015", against 17 million in 2011, said Sylvain Orebi.

Kusmi, which covers over 25 million euros this year, intends to dethrone Mariage Freres, which has emerged as the champion French high-end tea. His credo: to succeed in the tea brands that Illy or Lavazza coffee in the. "There is no comparable success in the tea sector, said Sylvain Orebi, which imposed its colored metal boxes and does his decaffeinated tea Detox a bestseller. We very much rejuvenated the image of tea, with an affordable brand and shops where they can enter easily. "Positioning different from Mariage Freres with its servers in white gloves.

Kusmi now accelerating the creation of its network, focusing on the development of its own boutiques, alongside corners in department stores (BHV, Galeries Lafayette …) and selling fine foods and Monoprix. It has thus, according to our information, to rob the beard of his main competitor's future location on the Champs Elysees to open in July. Located at No. 71, between Nike and Ladurée, it will bring international visibility.  

Drinking tea

Her store of 250 m2 will include a tasting area called "tea bar" with pies, cakes and cookies made on site. "This will be the flagship for Kusmi foreshadowing what could be our shops in the future," said Sylvain Orebi. A concept that will also declined in the new shop on Avenue de l'Opera, which will open this summer.

His ambitions do not stop at uptown Paris. Kusmi also landed in malls, Saint-Lazare in Confluence (opening today) through Beaugrenelle, inaugurated next year. After Bordeaux, Toulouse and Strasbourg, it also provides a twenty openings in the province by 2013. Finally, he put on the outside the home to establish its reputation. It has just been chosen by the Barrière group to appear in the map of his breakfast. The international not currently represents only 30% of its turnover. But Kusmi goes fast. It could open this year in London and Milan. After New York, where he will open a second store this summer at the Plaza, it targets California.

The crisis has not dried up its funding sources. Sylvain Orebi, whose company has been profitable since two years, has raised € 7 million over three years via Audacia, the investment fund chaired by Charles Beigbeder, who owns 31% of Kusmi. After taking a 50% Laura Todd cookies via Orientis, the holding company co-owned with his brother, he wants to continue investing. He is looking for acquisitions in the fields of sweet delicacies, ice cream or cakes.

This is the first major policy decision announced by Meg Whitman, CEO of HP since September. PC and printer divisions of the group will be merged, as the company said Wednesday.

Since arriving at the head of the company, Meg Whitman will finally been consistently good the consequences of the announcement in August by his predecessor, Leo Apotheker. The latter had then referred to the release or surrender of HP's PC division. Which cost him his job and has had a disastrous impact on group sales. During the last quarter of HP – ended Jan. 31 – Sales of the division plunged 18% in volume and its revenues fell 15%. At the same time, the printer division saw sales fall by 7%. Combined, the two product divisions of the group will represent half of total HP revenue (127 billion). The other portion going mainly to dynamic two divisions: services and servers.

Since September, the world's number one PC had to swallow a few snakes. In particular, see Apple proclaim everywhere the last quarter, he had sold "more PCs that HP iPad". Although the difference is played with one digit after the comma, the comparison is no less painful for HP, which more conspicuous by its absence in the segment of tablets. Worse, Chinese Lenovo continues to gain market share and HP could double by the end of the year payday loan no faxing.

Reduce costs

In the last quarter of 2011, the worldwide market share from HP in the PC fell to 16%, while Lenovo has risen to second place with 14% market share. In one year, the gap between the two groups was reduced by 6 points. But the U.S. does not intend to cede its global leadership without a fight.

Todd Bradley, appointed to head the new entity, will have the burden to reinvigorate PC sales and reverse in printers. HP also aims to achieve further cost reductions through this merger. Savings could indeed be generated in the supply and marketing of equipment. While the line between professional and individual equipment fades, it becomes increasingly important to industry players to establish their brand. This allows to charge prices a bit higher, as does Apple. A point particularly important that the owner of HP has already said a return of the group on the market shelves were not excluded.

The announcement of the reorganization was moderately popular with Wall Street. At the opening, the title has sold 2.23%. Todd Bradley, former head of Palm, is known to cause the redemption of Palm in 2010 by HP for $ 1.2 billion. Instead, Vyomesh Joshi, head out of the printer division, was reputed to have doubled the operating margin for this division.

The Stock Exchange? Biotechs believe more than ever. The Lyon Adocia, revisiting existing drugs in order to increase efficiency, was introduced Feb. 20 on the stock market. It was followed by specialists in medical imaging, Eos Imaging, which lifted the passage 38 million, and Intrasense. DBV, focused on food allergies, will jump on March 29.

The biotechnology sector health (drugs created from living organisms) and medtechs (innovative medical devices) is still dreaming investors despite stock route more or less convincing. Carmat has not implemented its first artificial human heart but it is worth 490 million euros, up over 400% from its initial listing in 2010. Genfit, which is developing a diabetes drug can be marketed in 2019, took over 57% since January 1.

Less than 25 biotech companies listed in Paris

Less than 25 biotech and medtechs are listed in Paris. It's a bit more than in the creation of the Next Biotech Index in 2008. But their market capitalization weighs only 2.2 billion euros, far from the 4.7 billion euros at the time. The French biotechnology remains microscopic facing a global industry that weighs nearly 270 billion and the stock market rose nearly 15% in one year. A universe dominated by real heavyweights. Amgen, the American champion, worth 54 billion, Genzyme was acquired last year by Sanofi for $ 20 billion.

"France has completely missed the turn biotech thirty years ago. She gradually recovers from five to eight years, "says a pharmaceutical boss. No large company has, for now, emerged from French soil. But "the Hexagon biotech together weigh as heavy as the largest laboratories," said Andre Choulika, President of France Biotech. Nearly 280 biotech and medtechs use from 5000 to 6000 employees in the Hexagon. They develop over 270 products, primarily for human health, divided almost equally between drugs, diagnostic products and innovative medical devices.

But how many medicines will emerge? Fifteen products are already from the French biotech today, says France Biotech. The mucoadhesive buccal tablet Loramyc BioAlliance is. Cationorm for the symptoms of dry eye is another example. It is produced by Novagali, a biotech acquired in September 2011 by the Japanese Santen. But the vast majority of these companies still sells no products. The total turnover of some 20 listed biotech and active in health averaged just 112 million euros in 2010. The prize goes to BioAlliance, with 22.5 million sales. Yet medtechs fared rather better than biotech. Gestation of innovative medical equipment is often shorter and less random than drugs.

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For the second consecutive year, the price of the car of the year was awarded by a jury of European journalists in an electric car: the Chevrolet Volt, after the Nissan Leaf in 2011. The least we can say is that these awards recognize technology more than economic success. In the U.S., General Motors will suspend production for five weeks of its Volt. The U.S. has not elapsed in 7700 as last year, missing its target of 10,000 sales. Furthermore prohibitively expensive ($ 41,000 less $ 7,500 of assistance), the application has been hampered by a government investigation, while fires were reported several weeks after collisions. For its part, Nissan, whose activity has, indeed, was disrupted by the Japanese disaster, has sold only 22,000 Leaf in 2011 (including 2,000 in Europe). Figures he intends to double this year.

A drop of water compared to a global production

With tens of thousands of copies last year, this solution is a drop compared with a world production of 80 million cars. In France, only 2,630 electric cars were registered to individuals last year, representing 0.12% of the market.

After the electric Kangoo and Fluence, especially designed for professional fleets, Renault is launching his Twizy quadricycle, and fall, the Zoe, the spearhead of its range. The French put on the price of this car to democratize power: it will be offered at 15,700 euros (including the government bonus of 5,000 euros), which will be added monthly rental of the battery for 79 euros. 150,000 copies per year will be manufactured at Flins.

The group, which provides a market share of 10% for electricity in 2020, appears now more cautious about starting on a difficult European market. "We'll have to show persistence, even quiet. We do not know if the request will happen as quickly as desired. One thing is certain, the price of gasoline will continue to rise and, at a time, each billboard service station will become an advertisement for the electric vehicle, "predicted Carlos Tavares, head of Renault operational flexcheck cash advance.

Meanwhile, Zoe will reassure consumers that they are not likely to fail. For if this car has a range of 210 km certified, in real driving, it comes down to the summer and 150 km to 100 km in winter, with heating. This is why Renault is targeting commuters or provincial equipped with a garage, making every day from 40 to 50 km. The group considers that from 12,000 km per year over three years, it is more advantageous financially to own a Clio diesel Zoe.

Low self

Another obstacle, "in France, there is only one thousand charging points around, as he ought to have ten times more," said Thierry Koskas, director of Renault's electric cars.

Moreover, the Volt arrives this year in Europe as the Opel Ampera. "It will be interesting to see whether demand will be greater in Europe. But make no mistake, this is the first generation of the vehicle, we will need a second generation to continue to reduce its cost, "said Steve Girsky, vice president of General Motors.

Most other manufacturers are skeptical about the power. Toyota continues to focus on the hybrid, expanding its offering. "In 2011, we achieved 10% of our European volumes with hybrid versions. We expect this share to rise 14% this year, "said Didier Leroy, who started a small hybrid Yaris.

For its part, PSA Peugeot Citroën has invested on the hybrid diesel engine to power 3008, 508, DS5 and RXH. Only problem: these vehicles cost an average of 2500 euros more than the diesel version, including bonus of 2000 euros.

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