Angela Merkel likes the cons-feet. After the victory of Francois Hollande in the presidential election on 6 May, the German Chancellor had said it would host "open arms" the president-elect. Thursday, it proved inflexible in the Bundestag, rejecting any policy of increasing public spending, policy advocated by the Socialists.
And this Saturday, one that supported Nicolas Sarkozy during the presidential campaign, tried to calm things down, three days before his meeting with Francois Hollande, in Berlin. When asked, by withholding his weekly video podcast, a "possible steady partnership with the new French president," Merkel said, "Yes, that's what I think, because we know since the founding of the Republic Germany a good Franco-German relationship is just very important for both countries. "
Angela Merkel isolated within the EU
By his attitude changes, the Chancellor irritate Francois Hollande. Before his colleagues, the president-elect would not hesitate to declare that "this is not a good method" to be so inflexible. In Berlin, the president apparently intends to say to Angela Merkel, "politely but firmly," according to a close this week quoted by Agence France-Presse savings account payday advance.
For now, the latest forecasts from the European Commission for the French economy, published Friday, give reason to Angela Merkel and fall ill for Francois Hollande. According to Brussels, France's public deficit should reach 4.2% against 3% anticipated by the new president. Growth of gross domestic product to 1.3% in 2013, far from 1.7% target by Francois Hollande. For its part, the German economy should continue its momentum. The five major economic research institutes across the Rhine anticipate a 2% increase in 2013 GDP growth of Germany.
But sixteen months of laws, the government of Angela Merkel is in trouble. Having already lost power in Schleswig-Holstein, the Chancellor will test again on Sunday in one of North Rhine-Westphalia, the most populous regional state of Germany and bastion of the left. Especially, that which formed a duo with austerity in favor of Nicolas Sarkozy, now seems isolated within the EU since the latter has lost the presidential election. And while many European capitals have welcomed the growth pact advocated by Holland.
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There are some
life insurance companies that offer a guarantee for the premiums only for certain number of years within the term.
Coverage through the mutual company
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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The plight of Greece will not last more than two additional years. This is at least the promise of the Greek prime minister, Lucas Papademos. "I am convinced that we made more than half way to economic recovery, even if the fiscal consolidation process will take longer. Of positive growth rates should be achieved by less than two years, "suggests he in an interview with Financial Times.
This statement comes as Greece is to receive on Monday from the European Union an additional EUR 5.9 billion. This is the first installment of the second aid package of 130 billion euros granted to Greece in early March. This loan comes new monumental adjustment efforts on the part of Greece, such as lowering the minimum wage by 20% as the country had adopted earlier this year to convince its European partners to help new .
Mea culpa European
For its part, the President of the Eurogroup Jean-Claude Juncker, made his mea culpa in the Greek press. "I think we did not sufficiently focused on the dimension of growth to the general problem of Greece. We especially emphasized the consolidation of public finances without giving alternative or leave the choice to Greece, the official said center-right daily Kathimerini. We have been hard towards fiscal consolidation, but very low in relation to the other important parameter, that of growth. "
Same story on the side of specialists missioned to Athens to recover the Greek state cheap credit report. "Greece has achieved something unique by testing the limits of what could accept and support people, said this weekend the head of the technical mission of the European Commission, Germany's Handelsblatt Horst Reichenbach. We will not forget. "These statements by European officials" let dawn a change of tone, "Analysis Jesus Castillo, an economist at Natixis:" Even if the strategy is led by the North, led by Germany, one can rejoice that growth is better taken into account to support structural measures very hard ".
Five years of recession
Greece entered its fifth consecutive year of recession. The International Monetary Fund (IMF) has revised downwards its growth forecast last week. He believes the country should emerge from recession in 2013, but he is expected to grow anywhere that year. Meanwhile, business is expected to decline by 4.8% in 2012 (after -6.9% in 2011) and the Greek State should continue its efforts to reform itself. According to the latest European Commission report on Greece, published last Friday, Athens has not made sufficient efforts to combat tax evasion and privatize public enterprises.
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"Debt: reallocate the EU aid to regions
EU leaders breathed a sigh of relief Friday after the success of the voluntary exchange of Greek debt, 85.8% subscribed by private creditors. Within the euro area, this is Nicolas Sarkozy, who hosted the agreement with more enthusiasm. "I am pleased that we have found a solution to the Greek crisis plaguing the financial economic situation of Europe and the world for months," welcomed the French president, traveling to Nice election. "With Angela Merkel we worked day and night to find a solution," he recalled. "Today, the problem is solved, and the page of the financial crisis is beginning to turn" it was welcomed.
In Berlin, the reaction was more cautious. According to the spokesman of the government of Chancellor Angela Merkel is "encouraged" by the agreement. "It would be a big mistake to give the impression that the crisis is resolved," warned the German Minister Wolfgang Schauble Finances.Pour "an important step was taken, but we are not out of the woods."
The agreement sealed between Athens and its private creditors will erase 107 billion euros of debt, a total of 350 billion. This is a historic debt reduction. It must allow the Greek debt, which now reaches 160% of GDP, reaching 120.5% in 2020, a ratio similar to that of Italy.
"This agreement allows more to protect Europe from Greece to help that Greece itself" summarizes Jacob Kirkegaard, a researcher at Washington. Photo credits: Kostas Tsironis / Bloomberg
Although occupies an important place in the French economy, SMEs – firms employing fewer than 250 employees – are content to play second fiddle to export. They represent less than 18% of sales generated abroad by France, while firms with more than 1,000 employees generate 39% of its amount. And the number of exporting SMEs has been declining in recent years. It took until 2010 for companies embarking on exports (28,900) are more numerous for the first time in eight years than abandoning international markets (26,000). This weakness is particularly disturbing that the French trade deficit worsened to reach a record 69.6 billion euros in 2011.
A series of measures to encourage partnerships
"Entrepreneurial culture does not lead French SMEs to turn spontaneously to export, unlike Germany and Italy where entrepreneurs naturally think to foreign markets to grow their business," says Jean-François Roubaud, president of the CGPME, in a draft opinion "Winning the battle of SMEs with export" submitted today to the vote of the members of the Economic, social and environmental.
To give new impetus to French exports, Jean-Francois Roubaud offers a series of measures ranging from improved business support for encouraging partnerships between large companies and SMEs. It recommends that regions create a "single window for export involving all stakeholders who can help companies" or "Export House" by drawing on the example of Lille. SMEs also need to have information "relevant and immediately usable" to enable them to quickly understand what are the growth markets and declining and who are their competitors. Inspired by the Swedish, France could adopt a "true diagnostic tool" to identify firms capable of exporting.
Billing policy
Despite efforts in recent years, the president of the CGPME observed that coordination between the public can be improved. He believes that the financial institution Oséo public must become "the main contact for funding" by resuming activity insurance prospecting Coface. This insurance allows SMEs to finance their business development and to be compensated in case of failure. Ubifrance under the Ministry of Economy should clarify its public service mission and its activities in competition with chambers of commerce. This would save public money. Its billing policy is also to be revised. Latest proposal: to encourage the economic patriotism of large groups, governments are encouraged to vary the amount of aid awarded to international contracts won by the largest corporations based on the part of activities carried out by SMEs.
CLAUDE TAR: "I will lose market"
CEO of Ultralu, specializing in scaffolding, member of the movement Ethic.
"Since I started my business in 1988, I am facing problems due to the rigidity of employment. Like many entrepreneurs, I have suffered the brunt of the crisis. The shock was brutal since 2008 should be a year of strong expansion. I predicted a 30% increase in sales and I hired six people. In our business, it is necessary to train an employee for six months to make it operational.
The crisis caused a 20% drop in sales. The six people hired have become an unbearable burden for the company. I had to part with it. Unfortunately, no administrative delays allowed me to do that in 2009 when the company had posted a loss of 50,000 euros in 2008. A dismissal for economic reasons cost me 40,000 euros.
After having recovered in 2010, my company was again able to be increasing. So I could rehire taking a risk because nobody can be sure that a new crisis will not occur. I will not do. I decided to retain the current workforce by stabilizing my figure and therefore of losing markets.
I chose this solution because the bankers who supported me in 2008 and 2009 will not understand if I do not learn from previous years. I can not take the risk of disappearing. "
CHRISTOPHER Collignon: "Let the air companies'
COO call center IMA Technologies, a subsidiary of Inter Mutual Assistance. Member of the Young Business Leaders, it animates the ethics commission and good practices Medef 44.
"We manage with existing regulations. We strive to meet everyone's expectations respecting the law and to the extent that this does not hamper production. We allow people who want to work at 60% to do so. Half the members of the Executive Committee are women who have decided to work at 80%. We also set up the working time of three people who wanted to start their own business. Any record created a strange atmosphere. But it is not possible to work more to earn more. The law does not permit an employee to work ten hours more if desired. We must let air companies and employees so they can negotiate their working hours.
I regularly discuss this topic with other entrepreneurs. It is important that leaders speak truth with employee representatives. I have set up agreements tests. It is also important that people can choose the working time. Someone may need to work 35 hours at a time and 39 hours to another. Our needs are not the same at 20, 40 or 60. It requires both trust and be realistic and do not forget one reality: the first objective of the company is to generate profits. "
Stanislas de Bentzmann "Managers have to work longer"
Co-CEO of the IT services company Devoteam, vice president of the employers' association Growth Plus.
"Policy makers plan to increase taxation frameworks to solve the budget problem, while the subject lies in structuring the value creation for the country. French managers take eight weeks and a half of vacation per year on average, five weeks against the rest of Europe. It is possible for a factory employee working over 35 hours thanks to the tax exemption of overtime, but this flexibility can not be applied to frames. But they are the ones who drop out contracts that run factories.
This is not only problematic for the industry, it is also for services. Service companies who work in large groups on international markets, because of RTT among other things, higher production costs than their competitors German or Italian. We must change the rules and give companies the ability to adapt to customer needs. Feasible by allowing businesses to reach agreement directly with employees, who are winners on both sides. France can accelerate its dynamic economy and reduce its debts if managers are willing to work longer, at least for the next five years. "
JEAN-RENÉ BOIDRON: "Being able to depart from the law"
President of the DL Health software company, President of the Social Committee of Growth Plus.
"It is absurd to impose the same working time everywhere. The unraveling of 35 hours has its limits. To meet their particular situation, companies need to discuss with staff representatives on the duration of working time and if necessary within the law or an industrial agreement. It is a matter of survival for many companies in the services, on the verge of suffocation, and whose turnover is correlated with working time. In from 39 to 35 hours, these companies have lost up to 10% of their turnover and nearly as many results. The rise in working time is their only option. For others, the decline in working hours can help through a difficult – while giving assurances to employees who must find more than their implementation, once the recovery of the acquired business.
These solutions are only possible with a quality relationship between an employer and its representatives. Otherwise I would have filed for bankruptcy in my previous company in 2001. Attitudes have evolved. Since 2008, the conventional termination showed that one could consider an employer and an employee adult enough to solve a problem. Have confidence in the company of actors to find solutions when it comes to saving jobs. "
The Paris market takes a few colors on Friday. In this holiday, where the activity is reduced, the CAC 40 was up. In mid-session, the index rose 0.65% to 3084.49 points after opening up 0.21%. Yesterday, he finished down slightly. In Frankfurt, the DAX index also advanced 0.96% to 5923.95 points while the FTSE-100 in London gained 0.49% to 5471.75 points.
Investor sentiment is supported by advanced this week in the eurozone. Management of public finances in Greece and Italy, two countries that focus on crisis fears of European debt, will change hands. In Greece, Lucas Papademos, former Vice President of the European Central Bank (ECB), has been appointed head of a government of national unity. In his first statement, he said that the euro is a "guarantee of monetary stability online payday loans."The United States and reported a reduction in trade deficit while new jobless claims fell to their lowest level since April. This morning, Asian stock markets were also in the green. In Tokyo, the Nikkei closed up slightly from 0.16% to 8514.47 points.
The AMF opened an investigation
The Financial Markets Authority (AMF) has announced the opening of an investigation after the blunder of Standard & Poor's last night, the rating agency has mistakenly sent a message indicating a degradation of the triple A French before denying the information two hours later.
On the currency markets, the euro has regained some ground. The European currency changes above $ 1.36, above the low of 1.3484 in one month.
The first pieces seem certainly find their place. But the puzzle is far from complete. The Europeans have agreed on strengthening the capital of their banks, with a budget of up to 100 billion euros. Nicolas Sarkozy was also close to Angela Merkel on the future arsenal EFSF, after a frank discussion in Frankfurt. But there is so much more to do before finding a complete agreement, most detailed and validated by the whole euro area. That is why the French President and German Chancellor confirmed on Thursday night, the sounds that had run all day: a second summit of Heads of State and Government held "no later than Wednesday," after that of Sunday. In addition, Sarkozy and Merkel will meet on Saturday night in Brussels to prepare its crucial deadlines.This new adjustment schedule confirms that markets foresee that this time, European leaders are no longer allowed to make mistakes. The first tangible plans must begin to blur out that night, after a first closed session of the seventeen ministers of finance of the euro.
Recapitalization of banks
In the preamble, the bloc cleared the table of a bulky dossier. They agreed on the recapitalization of banks weakened by the crisis, two months after the IMF has sounded the alarm. The bill, estimated at between 85 and 100 billion euros, less burdensome previously announced. It should allow banks to increase to 9% of their capital ratio "hard" a recognized strength. To achieve this, banks will first use their private shareholders, and if necessary of public funds bad credit payday advance. The EFSF intervene as a last and final resort.Uncertainty remains about the date of implementation, 2012 or 2013.
On Thursday, Paris and Berlin have also tried to dispel the misunderstanding about the previous meeting on Wednesday between the President and the Chancellor. The stakes: the future modalities of action of EFSF and the famous "leverage" critical piece of the arsenal to stop the European debt crisis and prevent contagion.
The German Finance Minister Wolfgang Schäuble ensures that the two capitals are in fact "in total agreement." But he hastens to add that there is still no agreement at European level. French side, it was confirmed by noting that if there is a discrepancy, it is rather with Spain and especially Italy.In Brussels, witnesses of the appointment of Frankfurt continues to describe "a cold atmosphere" between Nicolas Sarkozy and Angela Merkel, barely warmed by the announcement of the birth of the president's daughter.
To further complicate the picture, the Greek press spoke of a setback yesterday on what promised to be the easiest section of the summit: the release and payment of EUR 8 billion international loan in Athens. The European Union grows. But the IMF question the ability of Greece to address its long-term debt without the involvement of Europeans more convincing.
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Revolution in Clermont-Ferrand. To conquer China, Michelin, the tire specialist high-end, the gum is in the low-cost. The manufacturer yesterday signed a definitive agreement with two Chinese groups to create a joint venture that will produce and market products for passenger cars and light trucks under the brand Warrior. The principle of this agreement was announced in April. It must still be approved by the Chinese authorities.
The new company is 40% owned by the French and 60% by local partners, Double Coin and Huayi. The plant, under construction, will be located in Wuwei, about 400 kilometers west of Shanghai. The project, costing about 390 million, is intended to eventually produce 15 million tires per year, for the Chinese market.The operation was hailed by the Paris Bourse, where the title Michelin jumped 5.3%.
Double in size
The group, whose main production facilities located in markets "mature", had already started the construction of three giant plants in China, Brazil and India. In the Middle Kingdom, where it is installed since 1988, the company has four factories and employs over 6000 people.
Michelin, who wants to double in size in developing countries by 2020, up particularly in Asia, where he says the market should grow by 9 to 10% annually over the next few years. In the first half, he realized, however, still 75% of its sales in Europe and North America.
To succeed in Asia, including China, the French had no choice but to face the players in the middle and entry-level, such as the Korean Hankook, which hold 40% of the world.And that growth has come at the expense of leaders Bridgestone, Michelin and Goodyear. Between 2004 and 2009, global market shares of French are well past 19.4% to 15.5%. "It is very important to have a presence in this niche" of low-cost, recently explained Jean-Dominique Senard, the new managing partner of the group. "We can not leave the field open to our Asian competitors, more and more aggressive." Michelin will instead expand the availability of its distribution network in order to "meet all customer demands." So far, "we were not able to do so profitably," says Jean-Dominique Senard.
Prior to the signing of the agreement, Michelin Warrior Tire already manufactured at its plant in Shanghai Double Coin brand which had given him to use.The French had created a joint venture with the Chinese group in 2001 which he had bought the shares in 2010. The goal now is to dedicate the site of Shanghai to the Michelin brand, and "to increase greatly the production of the Warrior brand" with the new joint venture, said Bibendum.
Relations with Double Coin had not always been in good shape, since 2007, Michelin had accused its Chinese partner to produce in its plants counterfeits of its truck tires.
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The Asian market continues on the way up. Thursday again, investors are driven by the mood of U.S. markets which closed yesterday on a fourth straight session in the green. The European market has also sent positive signals. Investors are reassured by the Fed does not exclude to use new tools of monetary easing to support growth, as well as encouraging indicators.
The Nikkei above the 3900 points
In Tokyo, the Nikkei, which started the day on an increase of 0.63%, jumped 1.18% to 9060.80 points at closing. It thus goes beyond the psychological barrier of 9000 points for the first time in two weeks. The technology sector is facing in the image of Casio (3.91% to 504 yen) and Kyocera (2.28% to 7160 yen). Sony (1.98% to 1698 yen) and Toshiba (0.90% to 334 yen) also support the rating.
In Hong Kong, the Hang Seng up 1.10% to 20,760.80 points, also pulled up by the technology sector. Foxconn wins 3.10%, 3.64% Lenovo, Alibaba.com 5.33% and 2.30% Tencent Holdings. The Shanghai Stock Exchange a little more concerned about risk tightning money while the government has reaffirmed it a priority to price stabilization. The Shanghai Composite lost 0.61% to 2829.41 points.
The Australian S & P gained 0 payday loans direct lenders.63%, the Korean Kospi is 2.10% and 1.59% of India Sensex.
China: good news macroéoconomiques
Also Thursday, the good news fell in Asia. The index of manufacturing activity in China reached the final 50.9 in August, against 50.7 in July. The first estimate of the index of purchasing managers HSB had reported a slight slowdown, with a flash PMI at 49.8 in August from 49.3 in July.PMI purchasing managers suggests that "manufacturing activity is stabilized despite the tightening of monetary conditions in the country and soft demand abroad," said Ker Chung Yang, an analyst at Phillip Futures in Singapore .
In Japan, new vehicle sales, excluding mini-models, were down 25.5% in August compared to the same month last year, to 216,510 copies.
In Australia, retail sales figures were stronger than expected last month, up 0.5%.
Oil up
Oil prices were also up Thursday morning in electronic trading in Asia. In morning trading, a barrel of "light sweet crude" for delivery in October gained 21 cents to 89.02 dollars per barrel of Brent North Sea crude for October delivery 29 cents to 115.14 dollars.