Even the market is affected by the economic crisis. Indeed, according to research firm Xerfi published Monday, the organic food market will grow more slowly in coming years. Main reason: the deteriorating economic conditions resulting in a decrease in the purchasing power of households. "With the crisis, consumers prioritize while prices of organic products are higher than those of traditional foods," said Xerfi. Result: Sales of organic products should no longer move as "5% in 2012, 8% in 2013 before returning to 5% in 2014 and 2015, according to estimates by the firm. With a turnover of 4.5 billion euros on that date. " In 2011 sales in this market segment posted 3.65 billion euros against a little over $ 2 billion in 2008.  

It was between 2006 and 2010 that the market for organic products has seen its best years of growth, with rates between 10 and 20%. What stir the appetite of major retailers that since has continued to expand its range of organic and glean new customers compared to retailers and specialty networks. So much so that today 47% retail market share. An influence that may still grow.

The hypermarkets always looking of the lowest price, should benefit from this startégie to attract new customers. A strategy that is even more effective in a context of economic crisis. Mass distribution should surpass the 50% in 2015 while the share of experts, networks and independent, should decrease to 30% in 2015 (48% in 2005) concludes Xerfi. The remaining organic food no matter what a niche market.

"For voice, the overall quality of calls is good. The big trend this year is improving the flow for the mobile Internet, "says Joëlle Toledano, member of the ARCEP.

Several unions of education have questioned the electronic voting used for the first time. Besides errors "classic" in sending the professions of faith or the constitution of electoral lists – that private voting some candidates! – Bugs, especially complex and lengthy procedures have discouraged or computer agents prevented some from voting.The FSU, crumbling a bit, but still by far in the lead for Education (40.6%, double the UNSA and three times the CFDT and FOR), the judge "malfunctions" so many they constitute a "denial of social democracy." According to the CGT, "for 10% of the workforce, the conditions were not met in order to vote." Tens of thousands of voters have not received the code allowing them to vote.

Demobilization

"The elections were conducted generally without real difficulty," scans the Minister of Public Service, citing the use of "modern" and "environmentally responsible". François Sauvadet "rejects the word" failed ". Participation is also the result of the decision of each agent to vote or not. " The officers had "one week to decide," says one colleague in Education, Luc Chatel.Favor of electronic voting and … up, the CFDT and Unsa also note that if teachers are not mobilized, principals or administrative officers of Education have been more involved, as postal workers, while they also voted on the Internet. The vote for the first time, contract – which the unions have not always paid great attention – may also explain the poor performance against.

Mechanical consequence of the demobilization of troops of Education, FSU – so far the first union of all the public service of this state, but almost exclusively among teachers – see the gap is closing with its competitors low fee payday loans.It drops to 20.9% of the votes (19.1% including private school teachers under contract, for the first time integrated into the social dialogue bodies of the state).

The reformists up

His pursuers, rather than reformist protesters, progress: FOR 17.8% (16.2% with private school teachers), the UNSA with 16.7% (15.3%), with 12.6% CFDT (14.5%). Then come the CGT with 13.4% (12.8%), Partners with 6.5% (6.2%), CFE-CGC with 6.3% (5.8%) and the CFTC with 1, 6% (3.9%). FO heels and the FSU and even seems able to catch up. However, the CFTC could disappear from the list of allowed unions to negotiate and sign agreements for all the officials, failing sufficient score.

But these results should be taken with a grain of salt: more than 300 000 registered agents are still missing the call, about 2 million.Are integrated nor France Telecom nor the Department of Justice, who will vote Nov. 22. In the first case, it was always intended, in the second the vote was postponed at the last minute because they have been properly prepared.

They do not include either the results of the Ministries of Economy and Budget, who had not finished stripping, yesterday afternoon. What added a little more sense of improvisation and confusion. At some point – even among union leaders – questioned whether Bercy did not take pleasure in soap the plank at the Department of Civil Service, at the forefront of this election. In the week already, as the "flop" of participation seemed to indicate the climate was tense between 101 and 110 rue de Grenelle – seat of the Ministry of Public Service and that of the National Education.

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A week ago, however, after an operation of mediation between the parties led by René Ricol, the Deposit and Dexia had agreed on the outlines of the deal: the CDC should buy Dexia Municipal Agency The vehicle refinancing loans from Dexia's long-term form of bonds, for a price estimated at 250 million euros. So business savvy. But the data have changed in the day Saturday, Dexia reassessing its estimate to 380 million.This morning, without targeting specific operation Dexma, Pierre Mariani reaffirmed its determination to defend the interests of the bank and its shareholders.

Another crystallizes the tension between the French public institution and its subsidiary to 20%: the definition of liability guarantees granted by the latter to the former in connection with the operation. Due to insufficient data, the investment committee of the Caisse des depots, while conscious of the urgency has given an advisory opinion but negative on the operation hours of the board of the Franco-Belgian bank.

Simple adventures of a complex negotiation and tense? Recalled to the rescue Saturday night, Rene Ricol has at least reconfirmed the terms of the consensus snatched the previous weekend. The subject should again grow rapidly.We need it to maintain the balance of the scheme to dismantle and symmetry of the actions of both sides of the Franco-Belgian border.

According to the survey (1) conducted by the consulting firm in human resources, business plan for most occupational categories increased by 3% (median) budget increase (collective and individual), against 2.5 % in 2011. The exceptions are the workers (+2.8%) and senior (2.9%). But in any case, it would exceed the average inflation of 1.7% in 2012 by the government.

End of the wage freeze

Two major trends. On the one hand an almost complete disappearance of the wage freeze, a measure widely implemented at the height of the crisis.However, 4% of companies plan to freeze the workers and managers.

In addition, the company forecasts reflected the "sacrosanct" rate increase of 3%, which was applied during the years before the crisis erupted instant credit report.

In addition, both groups seem to be emerging. First, the majority, has given the 3% salary increase. A second, more prudent, considering between 2.1% and 2.5%.

The survey was conducted between March and mid-July, ie before the great economic and financial events of the summer (crisis in the euro area, downward revision in growth for 2011 and 2012, falling stock markets …), Mercer, again, questioned 142 of the 329 companies in its original sample.

"Eight out of ten believe that these events will bring them to scale back their budgets for salary review.This reduction could be 0.5 point fall. In contrast, companies planning to date, a wage freeze, are still a small minority, said Bruno Rocquemont. In this context, we have to closely follow the mandatory annual negotiations (NAO), which launched just been given in some societies and that will continue into March. "

(1) survey of 329 companies, mostly French subsidiaries of multinational corporations.

Beijing, which was ready in early to invest more in Europe to diversify its three trillion dollars in reserves, could turn back if the situation does not improve quickly. "If Europe continues to dither, the situation can get worse. Foreigners who wish to help will not dare and the euro area will disintegrate.This would be a disaster for Europe and the world, "said the daily.

Nicolas Sarkozy will discuss with Angela Merkel

At the opening of Summer Davos Forum, Chinese Premier Wen Jiabao, however, had expressed his confidence in the euro zone leaders business card design. "China believes that the European economy can bounce back," he explained. Support has already been taken in Greece, Portugal, Spain, and Hungary.

Friday, Nicolas Sarkozy, who met Greek Prime Minister George Papandreou, has again reaffirmed the determination of Paris and Berlin to support the country in which the probable default of most concern global investors. This last debate "in the coming days" with Angela Merkel of the rapid implementation of measures decided on July 21 to stabilize the euro area.For its part, Greece has called an extraordinary cabinet meeting of his government on Sunday.

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Two complaints last year

In addition, the profiles presented by PagesBlanches were not automatically updated business card. So that those who deserted Facebook saw months later, still exhibited their picture in the online directory …

Two people alerted the CNIL and filed a complaint last year. In June 2010, the Data Protection Commission has carried out inspections.The PagesJaunes had then argued that the collection was lawful. Because users choose to deliver the information on social networks and have the opportunity to limit access to their profiles. If they do not, they accept, in a way that their data public Internet, called the directory.

An argument rejected by the CNIL, which estimates that this information is public course on the Net, but that does not allow "a third party to conduct a massive collection, repetitive and undifferentiated data without informing the persons concerned" . Especially adding the lawyers of the CNIL, the PagesJaunes are not "search engine". These can aggregate data from the Web.Google also displays the Facebook profiles are not protected, that people have not always aware of this exhibition.

After months of training, and although the book has meanwhile suspended the service, the CNIL, which has changed its chairman, has finally decided to punish the PagesJaunes. "Given the sensitivity of the service (…) the number of people involved in the service in question." And also to warn users of the possible fate of their data on the Net.

The President of the General Council of Seine-Saint-Denis since 2007 fought first for his department. Claude Bartolone has discovered that he had contracted in 2008, led by Communists, many loans have become toxic. Thus, a debt of 953 million euros, the joint may have to pay a premium of about $ 300 million over the next ten years because of toxic loans contracted between 1997 and 2008."The equivalent of building a school year," criticizes Claude Bartolone. "And that amount could be even higher," said the MP. In fact, some of the loans contracted by the municipality are indexed to the Swiss franc and interest rates can reach 50% depending on the evolution of the franc.

Most disturbing is that the department of Seine-Saint-Denis (93) is not alone in this. MP PS refers to "hospitals, small towns or communes, departments, ports such as port of Le Havre" and "communes of all political stripes like Saint Etienne, Rouen, Saint Maur or Saint Tropez."

According to Claude Bartolone, "the total amount of toxic loans granted to public entities be around 15 billion euros of which would be 5 billion of potential losses low interest rate personal loans."

"Banks can not not pay"

MP PS is clearly concerned the role of banks. He said "they are responsible for the explosive situation in the French subprime" where thousands of municipalities are now over-indebted. Indeed, it is satisfied that they have not fulfilled their code of ethics. "They had a duty to inform and how their customers customized uninitiated" or the quest for profit seems to have guided more banks. Thus, the President of the General Council 93 filed a complaint against Dexia, Depfa and Calyon (Credit Agricole). The court should rule in October. But even Claude Bartolone said that "banks can not avoid paying." The MP also believes that "the whole chain has failed." The state has not applied a circular on the prohibition of structured products and regulatory authorities have also failed in their duty.A helping hand of the state can not be excluded.

Otherwise, "the local authorities would be forced to raise local taxes, reduce investment and jobs." And technically if the failure of a local community is not possible, it can be put under the tutelage of the state as was the case of Angouleme, said the chosen PS.

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In a very brief statement released this morning on its website, the group Zurich estimated the loss caused by fraud 2 billion, or $ 1.46 billion. "Customers' accounts will not be affected," says Officer, explains, however, that the extent of fraud will most likely accounts plunge into the red for the current quarter, the third of its fiscal year.

In late August, the Swiss giant has already announced that its quarterly accounts would be burdened by restructuring charges related to his economic plan of 2 billion Swiss francs (1.8 billion) by 2013. At that time, management had considered these exceptional charges of 550 million Swiss francs (456 million). With two billion dollars of potential losses announced this jeudimatin, so the bank could announce a major deficit. In the second quarter, UBS had announced a net profit group share of 1, 01 billion Swiss francs (840 million euros).

An image more tarnished

The precise cost of such fraud is still unclear but the bank should give more details on the occasion of the publication of accounts for the third quarter, scheduled for 25 October.Although the amount of fraud is still well below the losses caused by Jerome Kerviel, the former trader the most notorious of the Societe Generale (4.9 billion euros of losses also unauthorized operations) . However, this new financial scandal should put on the front of the stage vulnerabilities of control systems of banks, on policy positions of its brokers.

Furthermore, this case should a little dent the image of the Swiss bank. In 2008, she was among the banks most exposed to subprime. In total, in 2007 and 2008, UBS had thus unveiled record losses related to its exposure to toxic assets: 5.24 billion and 19.7 billion francs (4.35 and 16.37 billion euros).Today, the Federal Housing Finance Agency (FHFA) even accused of having sold $ 4.5 billion of toxic assets to mortgage refinancing agencies Fannie Mae and Freddie Mac, and is seeking in return for $ 900 million . Finally, the Swiss bank is also under investigation in France on suspicion of using tax evasion.

Thursday morning, UBS did not give details on the progress of investigations for fraud, saying only that an investigation is underway. Meanwhile, the shareholders of the Swiss bank would have gone well for such a scandal, in a stock market already adverse to bank stocks.At the Zurich Stock Exchange, UBS clinched the title by more than 7% on Thursday, at 10.24 Swiss francs (8.51 euros), with 45% lower as its highest since Feb. 18 annual.

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• Why would banks they need public money?

Two potential pitfalls they face. The first is the complete drying of resources: banks need to borrow in the markets to finance their activities.But the debt crisis of state in Europe increasingly discourages lenders. The foreclosure market in which victims were successively facilities Greek, Irish and Portuguese, and Spanish and Italian, now seems to win the entire euro area. While the banks are adapting, borrowing more short term, "cutting" their positions to save their cash and, finally, by obtaining new money to the European Central Bank. But these solutions are not sustainable and some European banks now find themselves in a situation of great fragility of the front of the "liquidity".

The second threat to the banks, the losses they may have to cash because of the economic slowdown and the crisis of the State debts, the most immediate threat is that of the Greek debt.According to the German press, Berlin also preparing a plan to support public financial sector, activated in case of bankruptcy of Greece.

• All banks will they need help?

It is likely that some banks will need help. The challenge will be to contain the fire. In the current climate of stress, the announcement of a rescue may create a systemic crisis, investors no longer completing lend to any institution, investors preferring to withdraw their assets. In 2008, states had implemented plans with extensive, the mass drowning in the case of banks the most vulnerable payday loan. This time, large swarm may be against-productive because it gave credence to the thesis is prepared throughout the banking sector to a major shock on sovereign debt."As if the policies were sending a signal that they do not believe in their own measures" to rescue the eurozone, fell last week the boss of Deutsche Bank, Josef Ackermann.

• What form of aid could take?

For banks in need, the ideal would be to recapitalize private funds. In late July, two Greek banks have also announced a merger made possible by a cash injection … Qatar. But, with few exceptions, European states will be well on the front line. This poses two problems. The first is financial: some countries already weakened may be difficult to bring in bank balance sheets at times equivalent to their GDP. The solution could come from the European Financial Stability Fund (EFSF). The European Agreement of 21 July – which is not yet approved by national parliaments – provided he can assume this mission.

The second issue is political: public opinion will they accept to "save" the banks again? "Only if they pay a lot more expensive that in 2008 the capital provided to them and the money they are paid," says a policy that "a justified rescue also new requirements for remuneration, renewal management and separation of activities. "

• French banks are they on the front line?

French banks, which had pretty well through the crisis of 2008-2009, are more turbulent than in 2011. Their expansion in Europe, particularly Greece and Italy, has become a weakness.They are also consuming enough liquidity in the markets for two reasons: their "universal" model makes significant players in investment banking and market structure of savings has offset it to the insurance life and mutual funds rather than bank balance sheets. To view added real or perceived weaknesses of each: a large dependence on market funding at Dexia, a reputation started and strong market positions at Societe Generale, a Greek subsidiary Crédit Agricole …