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Every day that passes, especially when it is marked on Friday by a whammy on the stock market puts a little more pressure on banks. European states will they, as in 2008, help? No definite answer exists. For those who, at the head of the state, banks and central banks have a clear idea of ​​the seriousness of the situation do not speak or hold soothing speeches to not add to the crisis to the crisis. Those who are not business more freely evoke crisis scenarios. As Ségolène Royal, who on Saturday declared shamelessly that "banks are likely to reapply using the State (…) probably in the week."

• 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 …

To cope with an unprecedented situation, Barack Obama wants to convince the Congress and the entire nation to deploy exceptional means. In a speech 32 minutes, the head of the White House detailed the various measures of the broad stimulus plan of 447 billion, or 3% of U.S. GDP, it wishes to implement.

• 240 billion in tax relief

The flagship device this bill is based on the extension of exemptions from employer and employee. It represents $ 240 billion, more than half of the plan.

Thus, 175 billion will be dedicated to the continuation in 2012 of halving the employee contributions, or $ 1,500 less taxes for an average household.The reduction in employer contributions will represent it at a cost of $ 65 billion.

• 67 billion recruitment incentives

Moreover, the maintenance of unemployment benefits for part-time employees, trainees and entrepreneurs will cost $ 49 billion. Tax credits of $ 4,000 to encourage employers hiring long-term unemployed account for it, $ 8 billion. A fund to finance initiatives for the return to work in the direction of the unskilled and disadvantaged, will have 5 billion.

• 140 billion in major projects

In parallel, the President launched a policy of public works, again to stimulate employment. The White House and plans to "get employees to work while rebuilding and modernizing America" ​​via an envelope of 85 billion.And the objective is to focus on the Public: $ 35 billion will freeze up to 280,000 job cuts for teachers and maintain the jobs of police and firefighters.

In addition, 50 billion will be dedicated to the modernization of transport infrastructure and 30 billion to the improvement of at least 35,000 public schools. Other projects, the head of the White House wants to create a National Infrastructure Bank has $ 10 billion and 15 billion will be used for public projects or renovation of housing reinvestment and local business vacancies.Finally, the expansion of wireless internet broadband will have zero cost as offset by the sale of concessions to private.

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In recent weeks, a new generation of vending machines first appeared in Paris. Located near the Parc des Buttes-Chaumont, the machine offers, 24 and 24 hours seven days a week, fresh bread, sold a euro baguette. One hundred and twenty rods craft, pre-cooked for ten minutes, are placed for maximum seventy-two hours in the refrigerated dispenser. The end of the cooking is done at the pace of demand for ten more minutes. They can then be kept for more than five hours, to ensure consumers of warm bread.

The origin of this world first, as original as vending machines swimwear and sunglasses located at the entrance to the pools, is Jean-Louis Hecht.The baker was able to marry fifties vending, mainly industrial and bakery.

"Small steps slowly"

It all began in 2001 when the contractor completed the first prototype of its distributor, together with a technical school in Moselle. He suggested "small steps small steps" toward a machine patented by the company and assembly of industrial equipment Mecondielle Portuguese. The investment is huge for this baker without the cost of the assembly, the machine comes already at 30,000 euros. Then you would need two hundred and fifty hours of assembly.

The machine, the first of which is in commercial service since January in Moselle, in the other bakery owned by Jean-Louis Hecht, naturally allows to inflate sales, thanks to its opening hours."It is also a strong vehicle for promoting that is not gray at the bakery, says Jean-Louis Hecht no fax needed payday loans. On the contrary, this innovation is a service that complements the baker's trade but do not replace. "

He said it will become indispensable in France and abroad, because of the quality of the product offered and the economic viability extraordinary profits are 30% higher than the store, according to the contractor.

A solution for villages without trade

In Paris, the distributor already sells 80 sticks a day, and Jean-Louis Hecht look forward to go further. The entrepreneur wants to "make the most of" his idea and does not sell his patent. He thinks big and would like to extend it by buying several bakeries and industrial equipment, backed by the facade.

The baker has other ambitions for his vending machine.A consulting firm located in Portugal working on a version independent of any trade, which would be installed in remote locations such as villages, tourist resorts or passage.

With the unmistakable design of his machine, Jean-Louis Hecht even considering creating a string, which spread in the desert regions of all trade, to allow each person to have its traditional fresh baguette every day. He finally claims that his invention has international potential, in Europe or the United States, where consumers are fond of "French baguette."

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For the first time, the sale of tobacco is regulated overseas. Following the enactment last Saturday of supplementary budget for 2011, only licensed dealers are now allowed to sell cigarettes in the departments of overseas.

These licenses distributed by the county councils are limited in number for the 540 Martinique, 550 for Guadeloupe, Reunion and 1070 to 300 in Guyana. This provision does not apply to Mayotte for when the tax is not yet aligned with that of other DOM.

This measure looks controversial local shops who use tobacco to attract customers concerned about the financial loss they may sustain same day payday loans. Those who will not benefit, however, the licensing of a transition period of five months.They will then be allowed to "continue the sale to individuals during the period strictly necessary for the depletion of their stock and not later than December 31, 2011," according to the legislation.

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It's time for Spain to be in the sights of Moody's. The agency placed the credit rating of the country under surveillance for any reduction, said a statement issued Friday, indicating a downward revision of the country's Aa2 rating one notch lower. The agency believes that the difficulties of Madrid to borrow at an acceptable rate will escalate following the second plan the rescue of Greece, who "made history" involving the private sector and a marked increased risk for investors bondholders fragile in the euro area.

The rating agency also advanced a weak growth of Spain and fiscal slippages in some areas of the country, adding that it would present risks, burdens on efforts to reduce deficits, which have recently been undertaken by Madrid .

Highlighting the challenges that the Spanish government will face for fiscal consolidation and improving the fiscal situation of the Spanish provinces, Moody's has given the banking regulator Spanish Fondo de Reestructuración Ordenada Bancaria (FROB) a rating Aa2, providing a possible degradation of the latter in the future.

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While European leaders are working on the Greek crisis to find a solution by Thursday, the Party of European Socialists (PES) advance his proposals. In a joint statement, Martine Aubry and 12 other European socialist leaders have agreed on a roadmap. The Socialists are in power in particular Spain and Greece.

The PES associated himself with the idea of ​​Eurobonds. Concretely, this would be to issue bonds to 17 common European states in the euro area. According to this roadmap, this mechanism would allow to pool risks and protect the weaker states.

In an article published in The Journal of separate Sunday, the candidate for the primary PS Francois Hollande also defends the system of Eurobonds. "They are an effective way to raise money at lower cost," said he.He added that this could be used to "buy Greek debt delisted and to speculators at their own game", the latter focusing on a bankrupt country.

Buy Greek bonds, which are worth more thing: this last idea was put on the table by Germany, reports the magazine Der Spiegel to be published Monday. This technique would save 30 billion euros.

Mutual guarantees

European Socialists also advocate a system of mutual guarantees of European debts to "help the countries attacked by speculators" and would help them "to the costs of stabilization." The PSE also blames rating agencies, criticized for their very recent decisions concerning Greece and Portugal. The party wants to "limit their power" and forbids the creation of a European rating agency.

François Hollande, who associated himself with the JDD many of the proposals of the PES, also calls for merging the functions of president of the European Council (now Herman van Rompuy) and President of the Commission (José Manuel Barroso) to take the head of a real "economic government" of Europe.

"Dangerous" statements

The budget minister Valérie Pécresse denounced statements Socialist Sunday morning, "Francois Hollande and Martine Aubry are engaged in a dangerous competition of statements on the euro that are likely to undermine efforts made by all European and France primarily to protect the euro area ".

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The vote was taken freehand. The National Assembly on Friday passed the relief measures of the solidarity tax on wealth (ISF) contained in Section 1 of the supplementary budget (supplementary budget Ed.) 2011qui door for the tax reform Heritage .

Threshold at 1.3 million euros

This article provides for the abolition of the first tax bracket to the ISF by raising the entry threshold of 800,000 to 1.3 million euros of assets. This measure should allow taxpayers to exempt 300,000, which corresponds, according to the government, owners of a principal residence whose value has soared because of the explosion in property prices in recent years.

Two rates of 0.25% and 0.5%

Section 1 provides further reduce the progressivity of the ISF. The schedule now has six units which techniques are applied six rates ranging from 0.55% to 1.80%.If the text is finally adopted by the Assembly and the Senate, it restr only two tax brackets: 0.25% for those whose assets do not exceed 3 million euros and 0.5% where the estate is greater.

This Friday, the resumption of debate, an amendment allowing a small reduction in ISF extra part dependent children has been strongly denounced by the left. In detail, the amendment of the rapporteur Gilles Carrez UMP plans to "increase the amount of reduction for each dependent from 150 euros to 300 euros, including adult children who are studying business card. "Interesting," said Budget Minister Francois Baroin, who relied on the "wisdom" of the Assembly. "You have no shame.It's outrageous, "launched the PS deputy Christian Eckert, denouncing" 150 euros reduction for people whose assets exceed $ 1.5 million, even though the school year allowance is granted conditionally for income below 23,000 Euros.

On June 14 the Senate

The reduction of the ISF is the corollary of the abolition of the tax shield, a key measure of quinquénat adopted in 2007 which provided for the tax cap to 50% of revenues.The fate of the latter, under section 13 of the supplementary budget will be sealed within hours or days ahead, examining the text to run until Tuesday, June 14, the date set for the formal vote and Transmission of the Senate.

(With agencies)

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Nearly two in three French (62%) want that France is phasing to operate its nuclear plants. By adding the 15% of the population favored a quick halt French nuclear program, 77% of the French population is now opposed to this energy source. That is what emerges from the last Ifop poll, conducted from June 1 to 3 of 1005 people aged 18 and over, for the Journal du Dimanche. Only 1% of the panel interviewed did not comment. Supporters of a soft stop is at 74% of supporters of the Socialist Party, the Greens 61% and 37% of the UMP.

The German example

The gradual change of mentality of the French would not only result from the shock wave caused by the nuclear disaster in Japan, but also that of the German decision to phase out nuclear energy by 2022.Last Monday, German Chancellor Angela Merkel, under pressure from Germany's Green Party, announced his decision to close the 17 German plants, within 10 years.

What might convince a few more French, interviewed after the announcement, the possibility for a developed country to live without this source of energy. Still, the German and French positions are far from comparable, France still produces 73% of its electricity by nuclear power, against 25% in Germany.

Stating his position on this issue, François Hollande, Socialist Party MP and the Corrèze Socialist candidate primary, moved elsewhere, always in the JDD, reduced initially by 75% to 50% dependence on French nuclear. For its part, Europe Ecology-The Greens called for a total abandonment of the atom.Final lesson revealed by the survey on Sunday, if the government is opposed to nuclear stopping, the UMP adhere less to this position, 55% of them sharing the wishes of their fellow citizens. These supporters are nonetheless the most pro-nuclear, with 37% of them advocating the continuation of nuclear program, and construction of new plants.

The state park is also hexagonal become less important to the French. Surprisingly, the hostility to nuclear power is indeed associated with the expression of any concern on the part of the French against nuclear sites. In total, 55% report little or not at all concerned about nuclear power, while only 44% a month ago.

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The new operational boss of Renault will have to quickly roll up their sleeves, as the challenges that await her number. First priority: to forget the disastrous management of the spy case, which has deeply shaken the entire company, three frames have been wrongfully dismissed. It will include restoring the confidence of employees towards the direction of the group, widely discredited by the fiasco, in which, besides Patrick Pelata, the former number two, several executives have been implicated.

Meanwhile, Carlos Tavares will restore momentum to a manufacturer whose weight continues to fall within the Renault-Nissan. The Renault group has passed 2.6 million cars last year, against 4.1 million for the third Japanese manufacturer.

But the weight of the Renault brand is actually much lower.Between 2004 and 2010, sales of cars in the diamond fell from 2.3 to 2.1 million vehicles, while Renault Samsung Motors of Korea has almost doubled and Dacia, the Romanian subsidiary low cost has increased by 3.5. In total, counting models badged Dacia Renault in emerging countries, these low-cost cars represent 26% of group sales.

The difficulty now is to create a range "consistent with more innovative products and smarter, more relevant to the roots of the brand," said Thierry Huon, an analyst at Exane-BNP Paribas no fax payday advance. Only problem, Renault will not have real news before Zoe Electrical and Clio 4, arriving in the second half of next year.And in the upscale, replacements of the Laguna and Espace will not come out until 2013-2014.

As acknowledged by Steven Norman, director of marketing at the recent meeting of the group, Renault has faced in recent years to two problems: a design that was too bland arbitrate potential buyers for other manufacturers and quality problems in the mid-2000s, which drove away some loyal customers. Fri Laurens den Acker, the new design director, is responsible for restoring the "seduction" to the brand.

The Chinese challenge

The group, which in February unveiled its new strategic plan with relative indifference because business, seeks a total of 3 million cars in 2013.The European market is sluggish, almost all the growth will occur outside the Old Continent, particularly in Brazil and Russia, which could become, as calculated by the group, his second and fourth largest market in this horizon. For now, Renault has the huge disadvantage of being absent from the Chinese market, the largest market in the world. Carlos Ghosn is planning an implementation of the Middle Kingdom between 2013 and 2016. Another challenge for Carlos Tavares.

Not yet a candidate, Christine Lagarde was already the favorite to succeed Dominique Strauss-Kahn to IMF management, but two rivals have already expressed. Mexico will formally nominate Agustin Carstens, Governor of the Mexican central bank, said Sunday the Minister of Finance of Mexico. He "has the capabilities and qualifications to lead an institution of the importance of the International Monetary Fund," he said. Governor of the Bank of Mexico since January 2010, Agustin Carstens has been deputy director general of the IMF from 2003 to 2006.

Moreover, the Belgian Finance Minister, in office since 1999, Didier Reynders, said Sunday also be "of course" interested in the job. "These are functions that do not refuse," he added. But Europeans seem more a united front around the candidacy of the French Minister of Finance.This weekend, his candidacy has received the support of Germany and the United Kingdom cash till payday advance. The Congo would also like to see take the job.

In France, Martine Aubry said yesterday that the appointment of Christine Lagarde at the head of the IMF "would be a very good thing for our country and for Europe." However, Francois Bayrou is against, saying "do not approve economic policy which was followed by France" and lamenting that "Ms. Lagarde was the main actor of the case Tapie.

In a joint statement, Australia and South Africa have called Sunday a nomination on merit, not nationality.A position shared by the representative of Switzerland to the IMF.

After the resignation of IMF Managing Director, accused of attempted rape by the American courts, nominations for his successor will be officially opened on Monday, and until June 10

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