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George Papandreou backtracked. The Prime Minister has just announced that it is prepared to withdraw its proposed referendum on the bailout of the euro area which has caused panic in the country and Europe, to ensure the rescue of Greece, said a statement of its services.

"Although we are not going to a referendum, which was never an end in itself (…), I welcome the position of the opposition party of the right" who was willing to ratify Parliament's approval of the euro area of ​​27 October, said George. Papandreou to the Cabinet, said in the statement.

He stressed that "the question of the participation of Greece in the euro area was taken for granted" and that the challenge was to ensure the implementation of the anti-crisis plan developed by the euro area in Brussels last week.

Into debt to pay less tax. This is what investors who invest in real estate and not just through type devices Scellier. Subscribe to a credit for investing in property has many advantages: the rent paid by the tenant pays the monthly payments, and loan interest is deductible from property income (not capital). With the key tax savings on income sometimes substantial, especially for taxpayers heavily taxed or (and) who receive more rents. As property income – greater than 15,000 euros gross per year – are taxed at the marginal tax rate of the investor, plus the social charges (CSG + CRDS, 13.5%). To protect his family, the borrower take out a whole life insurance (disability), which will take over in case of hardship, and allow his people to keep well.Credit also allows a way to protect themselves against inflation may accelerate in the coming years. "But beware, the profitability of the investment must exceed the credit rate," said Philippe Baillot, Director of Private Banking Bred. Not to mention that "take a credit equal to a bet on rising prices of stone, failing that, the leverage effect will be negative," says he.

Banks increasingly demanding

Although mortgage rates have been stagnant since June, after rising nearly 1% in one year, individuals always go into debt on attractive terms. It should thus be between 4 and 4.30% on average for a loan of twenty years (excluding insurance) to finance the purchase of a principal residence. And surely a little more to acquire a rental or vacation home.The deal could change and banks subject to significant pressures should increase credit rates. For now, they have tightened the conditions for granting.

Before embarking on the adventure of credit, it is important to calculate its borrowing capacity and identify any risks that may arise: What happens if the tenant does not pay the rent, for example? For it must also be able to reassure the banker, became much more demanding no faxing 1 hour payday loans. To get the best credit, the borrower will then forward its best profile. In arguing in particular that it is more ant grasshopper. Adjustments are sometimes necessary. "Some will just change their lifestyle before seeking a loan," suggests Philip Taboret, CEO of Cafpi. "They all result in consumer credit and other revolving credit.Allowing them to regain some ability to borrow, "he says.

While in 2010, real estate euphoria, some bankers had begun to lend to younger households, up to 110% of the purchase (including notary fees), the capital, possibly important, has again become indispensable. "The amount of the personal contribution makes the difference. A borrower with a significant contribution could lower its borrowing rate of at least 0.10%, "says Herve Hatt, CEO Meilleurtaux.com. More than ever, it is essential to shop around banks or go through a broker to get the best rate. "The spreads are widening between financial institutions. Those who have already achieved their annual targets to increase their loan rates, "says Hervé Hatt.Those who change their domicile bank will accept their wages in the lending institution. "It's part of the negotiation," says Philippe Taboret. And also helps lower the cost of financing. Like the loan insurance. Many institutions also offer credit schemes combining different loan durations (seven, ten, fifteen years old) or variable rates and fixed rates. They can help to reduce rates from 0.10 to 0.15%.

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Barely more than one agent in two has passed. Participation in professional elections in state civil service fell 51% against 70% in previous elections. This dip can be explained by the Ministry of Education (more than half of voters), where the number of voters has plummeted to 38.5%. Participation has also maintained or slightly increased.

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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Growth in sales is still there but the results will not be the expected level. The leaders of Schneider Electric have reviewed the prospects for the results of the full year 2011 on the occasion of the publication of revenue for the third quarter.

They now expect a margin of EBITDA (EBIT) of 14%, against a forecast in mid-year by 15% and a range of 15 to 15.5% at beginning of year.

This revision does not seem to be the first manifestation of the economic slowdown now widely anticipated but slow to materialize in company accounts.

Indeed, sales are, themselves, adhere to the expectations of Schneider Electric.Third-quarter sales and shows a growth of 7.7% excluding acquisitions and currency effects, to 5.7 billion euros.

Emerging markets continue to show strong momentum. The Asia-Pacific region recorded an increase of 15% of its billings. Elements that have allowed management to assert that the goal of organic growth of between 6% and 9% will be "easily" achieved.

An acceleration of planned restructuring

The group advanced three main causes for this new downward revision of prospects for margin. After the rise of raw materials in the first half, he now finds inflationary pressure on production costs in emerging countries.

Second, the growth of the business now comes from a strong software business, less than Quiet electrical equipment.This is what we call a "product mix" unfavorable.

Final point to address the lack of visibility of the economic environment, the group will speed up restructuring, which will have first a negative effect on margins.

Schneider Electric is sanctioned in stock

The announcement was heavily punished the stock market, Schneider Electric yielding the title more than 7.6% in mid-session in Paris. Probably a reaction against the excessive elements announced, but due to "the economic outlook in the short term that are clearly more negative influence on the future growth of the group," according to analysts at CM-CIC Securities in a note published this morning.

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The job market managers resist. The latest memo on the economy of the APEC (Association for the use of frames), the hiring intentions of companies in the fourth quarter continued to grow: 53% of them plan to recruit at least one part by the end of the year, up 4 percentage points higher compared to the previous year.

But at the same time, uncertainty is palpable among the companies planning to recruit, 69% are "certain" to do so, a drop of 9 points from the previous quarter."Is this a sign of an early reversal? "Asked Pierre Lamblin, director of studies and research.

Side areas, drive continues for the time in IT, engineering, R & D, consulting and auditing, while the bancassurance and construction are down.

Managers faced with the more long-term unemployment

Another notable fact, if managers are still less affected by unemployment than the general population (3.9% against 9.3%), the long-term unemployment is rising (14% between June 2010 and June 2011). Among these long-term unemployed, half over 50 years.

"I want to focus on those most vulnerable by a yoyo economy," said Marie-Françoise Leflon, the new President of ACOA.

Already hiring intentions graduates are down 41% of companies looking to hire in Q4 target young graduates, a drop of 6 points in one year. In the present context, profiles confirmed directly operational have more popular with recruiters.

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For employees of Speedy, the turbulence is not over. They thought that the actual sale in July, Kwik-Fit, Speedy UK parent company, Itochu in Japan ended the uncertainty born in October 2010 when the investment fund PAI Partners had announced its intention to sell the shares.

Itochu, however, was only interested in the activities of British and Dutch Kwik-Fit, and not by the French pioneer of the automotive fast, with 474 service centers and a turnover of 200 million euros. And as soon as August, the Japanese group has a mandate to sell this French branch. And things are going very fast, since according to our information, potential buyers must submit their bids on Wednesday 21 September.

Three candidates are in the running of the company, with 2500 employees. All three know the business.Jacques Le Foll plays continuity as it is the current president of Speedy. He wants to continue the strategy it has put in place when he took control of the group three years ago. With some success since Speedy returned to financial balance last year.

The second candidate also knows the house well. Gilles Chauveau's predecessor Jacques Le Foll at the head of Speedy. And he led the company for eighteen years. Its offer is supported by Butler Capital, an investment fund specializing in the mean values. The two leaders have very different personalities. And they cause internal reactions extremely trenches.

Option Green Light

Last candidate, Green Light, a direct competitor of Speedy. A reconciliation between the two companies is regularly mentioned.In 2007, Kwik-Fit had even launched a bid for the Green Light, but the fund Qualium, a subsidiary of Caisse des Depots, had finally won the day. A few months ago, tried to sell Qualium Green Light evoked the interest and some of PAI. The operation did however not made and the funds from the CDC now seems willing to invest to strengthen the position of the company.

In addition to price, the buyer will also put money in Speedy. PAI has indeed invested poorly in recent years. We must renovate the center, develop a communications policy more dynamic and intensify efforts in training. The profession is indeed changing. Historical benefits of Speedy-exhausts, brakes and shock absorbers, are declining because of their sustainable growing.The growth drivers, which already represent 60 to 65% of the activity, are to be found in more technical areas such as revising or air conditioning.

These investments must be decided and launched quickly or fall behind the competition. You should know who will be future leaders. This should go fast: Itochu is pressed and the case is expected to close before the end of the year.

UBS revises upwards the amount of losses incurred by its trader Kweku Adoboli: 2 billion dollars announced Thursday they will eventually reach $ 2.3 billion (1.66 billion euros) after further review of the operations in question . "We have now covered the risk from fraudulent transactions and activities of stock markets can function normally again," said the bank in a statement sent Sunday afternoon.

For the first time, the bank gives details of the operations that led to the arrest of Kweku Adoboli on the night of Wednesday to Thursday in the City of London. Investments trader's unauthorized focused on various funds speculating on the evolution of U.S. index futures S & P500, German Dax and European Eurostoxx in the last three months."The positions taken were within the normal course of business of a major investment bank and were part of a portfolio normally covered. But the real risk exposure has been distorted because the positions have been hidden in our system by fictitious positions taken on the future ETF (exchange traded funds) that the trader would have performed. These fictitious operations have hidden the fact that the forward positions on the indices violate the limits of risk of UBS, "said the Swiss bank.

The institution confirmed that the trader himself has revealed Wednesday its operations while it had received requests from the supervisory bodies of UBS. The board of directors of the bank has set up a special committee to conduct an independent inquiry into these frauds and failures of any internal control system.The bank repeated position that no customer was affected. Kweku Adoboli, 31, employee of UBS for nine years, was indicted for fraud and abuse of detained Friday by a judge in London.

The CAC 40, which gained more than 2% over the last two sessions, could open up again this Thursday on the eve of the intervention (16 hours, Paris time) the President of the U.S. central bank, Ben Bernanke, which could signal further monetary easing to support the U.S. economy. Earlier, the U.S. government will plublié its second estimate of GDP figures for the second quarter. The growth rate of the world's largest economy in the spring, which had greatly disappointed a month ago, could then be revised down 0.2 percentage point to 1.1%.

Meanwhile, the stock market should continue to pick up a few points to be closer to the threshold of 3200 points.The session will be punctuated by two indicators are expected before the close of the Bourse de Paris: the index of consumer confidence but also the German weekly claims for unemployment benefits in the United States.

In France, unemployment figures and job seekers for the month of July will be published after-hours trading to 18 hours. Labour Minister, Xavier Bertrand, expects the unemployment figures "are wrong as were those of the previous two months."

Sharp decline in quarterly profit of Crédit Agricole

On the corporate side, the ball of the results continues.

Crédit Agricole has published a net profit down 10.6% to 339 million euros in the second quarter 2011, due to a charge of 640 million related to Greece.In addition, the group could spend 1.5 billion euros to recapitalize its subsidiaries in Southern Europe including the Greek bank Emporiki, according to the Letter of expansion without citing sources cash advance. half-year results of companies, including Credit Agricole and Edenred, the branch of Accor Services.

Edenred announced interim results and annual targets in line with analysts' expectations, the strong activity in Latin America continue to boost the profits of the group.

Cellectis has entered a development agreement and license with the American Recombinetics on "the creation of transgenic large animals" such as pigs, sheep or cattle.

Schneider announced his bid for Telvent Git SA expire 30 August instead of September 12.

Gemalto has reported a strong growth in its half-yearly sales, thanks to the strong growth of its secure transactions that are now the most profitable activity of the group.

Bureau Veritas announced adjusted net income up 10% to 164.2 million euros in the first half, operating margin declined 70 basis points to 16.0%, and confirmed predict a sharp increase in the number and business results in 2011.

Oil prices rise

Oil prices were up Thursday morning during electronic trading in Asia, in a market sensitive to the situation in Libya and cautious speech eagerly awaited the head of the U.S. central bank (Fed).In morning trading, a barrel of "light sweet crude" for delivery in October has appreciated by 14 cents to 85.30 dollars per barrel of Brent North Sea crude for October delivery took 21 cents to 110.36 dollars .

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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Almost every week, oil platforms allow leak of oil and gas in the waters of the North Sea, according to British newspaper The Guardian. The newspaper in fact, a document that identifies leaks in 2009 and 2010 reported by the operators of platforms from the British authorities responsible for health and safety, the Health and Safety Executive (HSE). For the first time the name appears and the oil companies responsible for more than 100 leaks during these two years.

The Anglo-Dutch company Shell is at the top of this sad track record, with no fewer than 17 leaks "important" or "major" reported. Brent Charlie platform's alone has seven leaks that have escaped 4.9 tons of gas, of which 4.6 tonnes April 26, 2010, which resulted in a suspension of production.The Guardian notes that last Friday, the HSE has threatened to stop work on Brent Charlie. Shell has already stopped exporting oil from this platform and with three more to address safety issues.

With 5.4 tons of oil and gas spilled in two years, French Total heels Shell. Other companies are involved, such as Danish Maersk and Talisman Canada, and the BP already convicted for his role in the explosion of the Deepwater Horizon in the Gulf of Mexico in March 2010.

"The tip of the iceberg"

During this disaster, other oil companies had assured that such an explosion could not occur on their facilities cheap pay day loans. "Safety is, was and will always be our number one priority. This is our core value, "yet assured in November 2010 Peter Voser, chief executive of Shell.But the figures published by The Guardian seriously undermine these claims and even the importance that companies attach to the security of their facilities.

Leaks reported by operators would, moreover, that "the tip of the iceberg," according to the log information. Condition of anonymity, employees say, in fact, a "code informal" drives them to silence the accident for fear of losing their jobs. Since each stop represents a loss of production, companies prefer to ignore the incident …. sometimes verges and disasters. "We were very, very close on several occasions, said Jake Molloy, general secretary of the union workers in the North Sea OILC. It is sometimes more a matter of luck than good management. Some companies do not care. Because of high oil prices, they are cutting back costs.Some have already been prosecuted. "

»View the complete table published by the Guardian

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