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The second issue of the i-Mad is launched

Saturday Jun 4, 2011

The digital adventure continues for Madame Figaro. This Friday, the magazine will launch the i-mad 2, the second issue of the magazine free interactive proposed on the Apple tablet. A second edition promises to be "ever more chic, shock and surprise."

As with the previous i-mad 2 will use technology developed by Adobe Digital Publishing Suite, a first in France in the world of magazines. This solution, used in particular by Wired magazine in the U.S., will control the process of creating content across a chain of production."A technology that delivers high-impact interactions such as panoramas and 360 degree spins," said a statement.

This month, the magazine will feature interactive "all these women who have the keys change hands" through a selection of articles of Madame Figaro, rich content and interactive videos. This special issue will draw such a portrait of Lady Gaga and propose a new meeting with Georgia May Jagger. Visitors can also explore the rising French actress photos, immortalized by Cedric Klapisch or unpublished portraits by Peter Lindbergh.

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Greece worried Lagarde put pressure

Sunday May 22, 2011

Greece must provide more work and results, said the French Finance Minister Christine Lagarde, who put pressure on Athens in an interview with Austrian daily Der Standard to be released this Saturday.

"Greece must deliver results and why the country must do more than during the last twelve months," said Christine Lagarde, whose name is mentioned as a successor to Dominique Strauss-Kahn to head the IMF.

Asked about her refusal of any debt restructuring, Christine Lagarde said: "We already gave Athens more time to repay its loans in the euro area is already a concession."He continued: "It is legitimate that we expected that Greece will make its share of work."

"We do not want a state of bankruptcy"

The French Minister of Economy recognizes that the Greek government has done things, "but there are still areas where things are moving too slowly", referring to privatizations. "Either Greece delivers results, then we can imagine additional help.Otherwise there is the question of how Greece is ready to play the game for its own bailout, "said ministre.Et further emphasized:" What we certainly do not want, c 'is a state of bankruptcy, a default in Europe ..

While the Greek Government discusses the rise in unemployment generated by the austerity plan, the minister reminded the unemployment rate in Spain, according to her superior to that of Greece, but where "the country still does its job, saved and managed to turn around. "

Challenge to implement a program

The rating agency Fitch, meanwhile, lowered on Friday noted the long-term debt of Greece to three notches. This is a new blow to Athens which also saw its borrowing costs on market reached a new record.Fitch lowered the rating of BB + Greek + to B, referring to the "challenge" for Greece that is the "implementation of a program of structural reform and radical tax necessary to ensure the solvency of the state and the foundations of sustained economic recovery "in the country.

"New fiscal austerity measures are necessary" to achieve that Greece's budget deficit target of 7.5% of GDP in 2011, said Fitch. The agency suggests including poor tax revenues and difficulties in implementing a privatization program.

Greece also saw its cost of borrowing on the markets at a record Friday, the rate of its ten-year bonds exceeding 16.7%. Sign that investors fear that Greece is not able to honor its debts.

The Greek prime minister said his country would repay its entire debt."We will refund the loans," said George Papandreou, whose country was granted last year a plan to help the EU and the IMF amounting to 110 billion euros to avoid it default.

But many observers believe that Greece will avoid a major restructuring of its debt, meaning pay creditors later or less than expected. But the European Central Bank precludes this scenario.

In the wake of Fitch, another rating agency S & P has for its part lowered by one notch the rating of the long-term debt of the Crédit Agricole to 'A +' cons 'AA-' before, because of its exposure Greece."We believe that the French banking group Credit Agricole is particularly prone in Greece, because of the issue of solvency and the economic outlook" of the country, particularly through its subsidiary Emporiki, S & P said in a statement.

(With Agencies)


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Tepco changes CEO after record loss

Friday May 20, 2011

The natural disaster that shook Japan on March 11 and caused a serious nuclear accident in history, affecting badly the Japanese utility Tokyo Electric Power (TEPCO). The company reported a net loss record 11 billion euros (1.25 trillion yen) on Friday morning, well above the 9 billion expected by the Japanese press. It is the worst deficit recorded by a Japanese non-financial group. The earthquake and the tsunami have paralyzed much of its central activity based in Fukushima, a city northeast of the country now known worldwide. For more than two months in fact, at least four of six reactors on the site are stopped. Before the event, Tepco expected a net profit of 1 billion euros.

Another important announcement this morning by Tepco: Masataka Shimizu's resignation.It must be said that his handling of the crisis has been sharply criticized in Japan and the rest of the world. Particularly for its lack of transparency in the first moments following the disaster. He will be succeeded by Toshio Nishizawa, the current CEO of the group.

State utilities and banks to contribute

The future already looks difficult for TEPCO. The operator had to call for help from the Japanese government. In a request sent on 10 May at the Japanese government, the third largest producer of electricity in the Archipelago evokes an immediate need 8.7 billion euros. Very quickly, the Japanese government has responded, putting Tepco under its control and disclose its financial rescue plan."The purpose of this plan is not to bail Tepco, said Friday the Japanese Minister of Economy, but to ensure that victims are compensated properly," he commented.

TEPCO has indeed compensate the 85,000 victims of the nuclear accident payday advance. A bill that could total between 25 and 43 billion euros, according to local press. Thus the state ensures that dip into its funds and requires the efforts of other private electricity companies in the country. Even banks will tighten their belts: they have provided a loan of 1.4 trillion yen (11.7 billion euros) to Tepco are asked to waive a portion of their claims vis-à-vis the operator .

For its part, TEPCO must, of course, participate in a pinch.The group will include transfer of financial assets and properties in order to concentrate its resources on the production and distribution of electricity. In addition, the eight most senior executives of the company will also waive any compensation and personnel managers to ordinary workers, will also undergo substantial pay cuts.

In exchange, Tepco falls again

This Friday morning in Tokyo, the title has finished Tepco small increase of 0.54% before the results are published in the group. Since, in trade-off meeting at the New York Stock Exchange, the action Tepco listed on Wall Street tumbles 9.6% and is only worth 4.45 dollars. So since March 11, the title collapsed by 83%. Investors, cooled the past two months, do not see Tepco bounce soon.While its nuclear activity has melted, the group had to increase production at its thermal power plants to continue to supply the population. However, this has a cost of hydrocarbons, which could cost another 8.7 billion uros on the current tax year.

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The Cac 40 expected to decline

Tuesday May 17, 2011

This had not happened for a month. The CAC 40 closed on Monday below 4000 points, among others penalized by bank stocks. Investors worried about a new crisis on the debt of the euro area after the arrest of the International Monetary Fund boss Dominique Strauss-Kahn.

Futures on the CAC 40 fell by 0.62% to 3965 points.

Monday night, Wall Street has ended the session down in response to the publication of indicators revealing the fragility of U.S. recovery.

The Euro continues Tuesday

In the absence of corporate results announcements, the index will evolve with ads that will be made following the meeting of EU finance ministers to discuss particular mechanisms of financial aid in the euro area. On the issue of Greece's debt, the Europeans are divided.Bank stocks will be well to follow, they have lost an average of 1% on Monday.

On the macroeconomic front, the new car registrations in the European Union fell 2.7% annual rate over the months from January to April, according to figures released Tuesday by the European Automobile Manufacturers Association (Acea).

United States, are scheduled starts of dwellings in April (14.30) and industrial production in April (15.15).

On the currency markets, the euro rose slightly against the dollar, from 0.16% to 1.4183 dollar.

Energy stocks under pressure

On the corporate side, investors will be interested in energy stocks that should suffer from the decline in commodity prices.

Bouygues raised slightly on Monday its goal of annual sales after a first quarter marked by a rebound in activity but penalized at the net contribution by Alstom.

Vivendi announced Monday it had obtained signed with a syndicate of 17 banks a new line of credit totaling € 5 billion that will allow it to optimize the management of its bank debt at the time of the acquisition of the 44 % of SFR held by Vodafone.

Publicis buys U.S. digital marketing agency Rosetta for at least $ 575 million – the agreement provides that an additional payment may be made in 2014 to Rosetta in the case of good performance over the period 2011-2013.

Carrefour wants IPO for its real estate assets

During its Investor Day being held in Paris from 9:15 Carrefour will confirm its intention to IPO for its real estate assets, Carrefour Property.The group, which confirmed target growth in turnover and operating profit this year, said the demerger of its business Dia discount stores, whose IPO is scheduled for July 5, will be in the shape of the distribution of a dividend.

Gecina announced Monday that it planned to file a proposed buyout offer followed by a squeeze on the shares of its subsidiary Gecimed, a property company dedicated exclusively to the medical real estate which it owns 98.6% of capital .


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Assistantship: Sarkozy makes a theme of 2012

Monday May 16, 2011

All for it! A great stir launched by Laurent Wauquiez triggers an uproar, followed by a double crop, ministerial and presidential primary. But a few days later, means a whole different story. François Fillon Laurent Wauquiez has criticized the "form", but acknowledged the need to "correct" the RSA. And Roselyne Bachelot, who on Monday denounced the "About counter" in the mouth of his government colleague, merely validating the more moderate course, diagnosis shared by all governmental experts: the RSA does not work .

"This system is not perfect and needs improvement. This is a horribly complex. It must be simpler, "said Minister for Solidarity. The Minister of European Affairs has lanced the boil.The initiative is very cavalier but Sarkozyist in mind: to generate debate on a subject which will now cleaving the heart of the presidential election.

Since the Elysee prepares a balance sheet of five years, the RSA is an embarrassment, even if the plate issued by the Presidency of the Republic for the fourth anniversary of the class number of successful reforms. Should he be praised for showing that the government can boast of a true social balance? You run the risk of exasperating his electorate that is notched on all subjects assistantship. Should we criticize, pointing to its shortcomings?

Crisis forces, the RSA is not increased in intensity. Departments have struggled, together, to put in place. The record is disappointing.And Nicolas Sarkozy, who was given carte blanche to Martin Hirsch, came back the promises of the former High Commissioner of Solidarity.

A "disappointment"

Last Friday, Nicolas Sarkozy himself acknowledged before some guests of the evening that the RSA is a "disappointment" because he "does not fulfill the function" for which it was designed. Several employees Elysian find elsewhere, for several days that the RSA was "a bad system." Even Jean Castex, deputy general secretary in charge of social issues, slid in front of several elected officials as the "RSA does not correct the RMI but amplifies it." He likes to cite the example of supermarkets, which are not hiring more part-time because it makes employees eligible for RSA. "As a result, employers have an incentive to pay only partial activities," said Castex.This means that Wauquiez had some support when he opened a gap on this subject.

Now, everyone understands that the assistantship in general, and the RSA in particular, should enter the debate of the presidential election. Whether it is local aid, of individual housing, the earned income tax or unemployment benefits – by far the most generous in Europe, particularly for executives – these benefits will be evaluated. First, during the debate held on this subject by the UMP June 8 Then during the mission's findings Marc-Philippe Daubresse on RSA.

"We have two solutions. Or we're like 80% of the countries that surround us, that is to say nothing, because generalized social benefits are the only true French specificity. Or do we tip of a support system to a delivery system, that is to say, aid in exchange counterparties.Only the second solution seems feasible, there is little confided to Le Figaro a close adviser to the Head of State. The Elysee, who thinks of course the debate of 2012, reflecting on different tracks. For example, the idea of ​​a "welfare reduced based economic growth," says this adviser.

But another near the head of state calls on him "a fierce fight against abuse", without questioning the entire system, on behalf of national cohesion.

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Schneider Electric denied making advances to Tyco

Wednesday Apr 13, 2011

Traders are convinced, Schneider Electric is about to start his tour in the waltz of mergers and acquisitions. Concordant sources, the industry group has approached Tyco International. Schneider Electric had made a bid of about $ 30 billion (about 20.76 billion euros) to encourage the Swiss group of safety and engineering to come to the negotiating table.

Information that contradicts this Wednesday, the group led by Jean-Pascal Tricoire. Management refutes indeed in a statement "to be currently in discussions with Tyco International over a possible strategic transaction." This does not mean that no discussions never took place.This is a formal response to rumors magnified the last three days about a possible interest of the French group to Tyco.

Now that he has denied being in negotiations with Tyco, Schneider Eclectric is forced by regulators to abandon any attempt for six months supply on the Swiss.

A Tyco spokesman confirmed to the press to have received an offer

The assumptions were yet in full swing this morning. And for good reason: this merger would make the new entity the world's leading security systems.

A Tyco spokesman confirmed to the Wall Street Journal that "the board is studying the proposal," he received with surprise. The Daily Telegraph said of his side as the board of Tyco has given the green light to a process of "due diligence" (consultative accounts).The two dailies ensure that JPMorgan and Bank of America Merrill Lynch attended Schneider Electric since September on this issue and that the most likely hypothesis was an offer in cash and securities.

Schneider Electric has even considered issuing the CEO Edward Breen of Tyco a seat on the board of the merged entity. But according to the Daily Telegraph, Tyco would not be willing to accept an offer below $ 65 per share.

At the NYSE, the title Tyco soared more than 7.4% to 52.33 dollars on the rumors and was thus valued at $ 24.8 billion (about 17.17 billion of euros). Conversely, in Paris, Schneider Electric has lost 3.5% to 112.90 euros per share, representing a capitalization of 30.70 billion euros.On two days, the title of the electrical equipment manufacturer has won more than 7.5%.

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Sanofi-Aventis closed his battle on Genzyme

Tuesday Apr 5, 2011

"This is another step," said Chris Viehbacher, CEO of Sanofi-Aventis Business on BFM on Monday morning. A month and a half after formalized the acquisition of U.S. biotech Genzyme, the pharmaceutical company announced on Monday morning having met 84.6% stake in its target (number of shares), after the close of the offer on April 1.

For late or indecisive, Sanofi-Aventis has announced the reopening for four days after the offer of 74 dollars per share, beginning this Monday, April 4 and April 7, 2011 Termier at midnight, Paris time. With this announcement, Sanofi-Aventis loop thus one of the most difficult acquisitions in its history. More than eight months of stock market battle will have been necessary to convince the board of directors of Genzyme.

End of an eight-month battle Market

More than the interest of the reconciliation, Henri Termeer, Genzyme's CEO questioned the price offered by the French, hoping to raise up the auction. A successful challenge, the champion tricolor pharmacy having finally sold, raising its offer from 69 to 74 dollars per share, together with a certificate of conditional value (TRC).It could reach 14 dollars per share based on sales performance of Cerezyme and Fabrazyme, two major products of Genzyme, which has experienced serious production problems, but especially those of Lemtrada, developed an anticancer drug against multiple sclerosis, and could become a future blockbuster (drug of over one billion euros in annual sales) no faxing 1 hour payday loans.

So it's a big step forward for Sanofi-Aventis, which has just spent over $ 20.1 billion to afford the latest nuggets still independent of biotechnology. And this redemption, the laboratory with one stone two birds, reinforcing both in biotech, where despite efforts in recent years, he remained behind. In addition, Sanofi-Aventis is increasing in rare diseases, where it was virtually absent.

Preserve the culture of Genzyme

"This operation is Sanofi-Aventis the world leader in biotechnology, alongside our leadership position in vaccines, has also said Chris Viehbacher Business on BFM this morning. For if the French had been dethroned in 2010 by GlaxoSmithKline in the sector, it still aims to double its sales of vaccines for the period 2008-2014, to bring them to more than 5.7 billion euros.

In the meantime, the acquisition strategy very offensive Viehbacher crisis should be put in parenthesis, the leader now want to concentrate on the restructuring of research and development. A crucial step in integration, when we know that the corporate culture of biotechnology in particular is one of the key success factors.The rush too hastily would then lose to Sanofi-Aventis which is the productivity of research teams of its target.

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The "hunting land" is open in Paris

Sunday Mar 27, 2011

In Paris, "a huge chunk of land is common property and land opportunities map does not exist," warns Michael Korsakoff, General Secretary of the Club property developers and land in Ile-de-France (CDIF). If the local development plan (PLU) gives clues to the land of gators, the mutation sites remains difficult to predict. So when a nugget of land is finally identified, "we all meet, as sponsors, on the same projects," says Veronica Guillemin, President of the CDIF. The bidding has become very difficult to measure … "In addition from 3000 € / m2 GFA (Gross Floor Area Net, that is to say actually building), the price of land flies. In a recent vast wastelands of Paris, in the heart of the new district of Batignolles (XVII), the City of Paris ceded the end of 2010 to Cogedim land to 3 800 € / m2 floor area.There are apartments sold off-plan more than 8000 € / m2. Their delivery is expected in 2012, this eco-neighborhood in saving energy. Some buildings will peak at 50 meters, 37 meters beyond the date authorized. The future high court will reach even 200 yards on the ground of a former station. Altitudes deemed inefficient, but that may be authorized by the latest changes in the local plan, currently subject to public inquiry.

In Paris, the property is seeking a future in height. Future but also social. In the eleventh, boulevard de Charonne, 8000 m2 of a former industrial site will give birth to 100 housing units in 2014. Meanwhile, in the thirteenth, a EcoZac flourish on the site of the former goods station at Rungis, which will combine offices, housing and social amenities.In the hunt to land, the BIA (concerted development zones) is cut, it will be understood, the lion's share. Social housing too. Yet in 2001, only the wide range of Paris left bank was a planning area. Teams of the Deputy Mayor of Paris responsible for Housing, Jean-Yves Mano, are on the lookout for the slightest bit. The intervention service division of the Directorate of Planning does not hesitate to preempt. "Provided that motivate the right of first refusal by a social housing project or general interest, it says there. In 2010, 11,831 declarations of intent to dispose (DIA) have been investigated. But only 2736 cases were studied with a magnifying glass, which led to 68 preemptions. "It is far less than in 2009 (93), and especially in 2008, where 146 pre-emptions had been decided …The City Council did, too, the cost of soaring prices, despite an annual budget of preemptions for 100 million euros. In the eighth, the response service to acquire land abandoned building, too expensive.

Paris could catch up by 2014 its backlog in social housing, with six years ahead of schedule. "10% of the space are changing urban Paris, Jean-Yves Mano evaluated. But a hundred other plots may be subject to negotiations, which we could consider 15,000 homes … "The City Council has established in recent years, the list of forty car repair garages … Rue de la Pompe in the sixteenth century, Renault has sold one at Sodearif, a subsidiary of Bouygues. Another avenue Mozart, should follow the same path … Each time, the City negotiates affordable housing, at least half of the program.Private developers and public donors, however, working in concert. Despite political tensions in the sixteenth century, several other sites, blocked for years by the use of residents, should result in parallel, such remedies being depleted low fee payday loans. In the key housing, particularly social services.

Committed to a policy of transfer tax, the state adds its contribution to the transformation of land in Paris. According to Jean-Martin Delorme at the regional and inter accommodation and housing (DRIHL), "in 2009, the state has allocated so that the land can be built 329 homes, including 194 social.In 2010, participation has increased, so that 1302 units are produced, of which 859 social. "In 2011, the state has spent on housing in Paris a bigger budget (100 million) for the regions and Rhone-Paca Alps combined.

Buildings over bus depots

Nothing would do but without the SNCF and RATP Réseau Ferré de France (RFF). Heritage Land SNCF? 156 hectares. That of RATP? 260 hectares. As to RFF, the second landowner in France with 103,000 hectares of land. "The RATP has today more than empty land," assures yet Rémi Feredj, director of space and heritage of the RATP, which helped in the 90s, building programs Montsouris, in the nineteenth, in the seventeenth and twentieth. And yet today, boulevard Jourdan, RATP still collaborates with the City of Paris for 200 housing units and 350 students.The buildings rise above a bus depot. Technical prowess. "Here in the twentieth, opposite our office, we will bury another repository, then build on top of offices, a school and a nursery," said Remi Feredj. RATP therefore maintains depots and workshops in Paris, but imagine a new land, while overlays and juxtapositions. Street Desnouettes (fifteenth arrondissement), 47 units will emerge behind a business unit of the metro line 12. According to a performance contract with the state, RFF is committed to mobilizing its land for 1.2 billion euros over five years between 2008 and 2012. Goal: Create 15,000 units in France. A private operator, Pitch Promotion, for example, already won in late 2010, a site RFF Street Castagnary (fifteenth arrondissement). Other rail sites could still mutate, in the twelfth, eighteenth, and nineteenth arrondissements.In all, "1 million square meters of floor area to fifteen years," we are assured at RFF. Meanwhile, in the nineteenth century, a new station-Gospel Aeolus will come with the added bonus of 27,000 m2 of offices and 1000 m2 of shops.

Meanwhile, to release more land more quickly, experts, to the State, reflect on fiscal measures. They are looking to reverse the plan capital gains and taxing landholders refusing to sell them. Tax on undeveloped land is not very effective. "We could consider increasing the property tax on developable land," suggested Poirot Pascale, president of the National Union of developers developers (Snal). Some suggest a tax on the minimum density.More iconoclastic imagine "to add another floor to Paris buildings, because very sparsely protected," recalls Henry Buzy-Cazaux, honorary president of the Institute of Management of real estate services.

The city of Haussmann has long obeyed an ideal city less dense, difficult to reconcile with the height of land planners in the twenty-first century. "You could also consider a rationalization of action, often abusive, hampering construction projects", he explains. An idea that engages players from all sides of the ruthless world of land development.


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The European hotel industry pulled himself together

Tuesday Mar 1, 2011

After two sluggish years, the hospitality industry, took over the colors. A study of European Statistician, Eurostat, published on Monday, 1.6 billion overnight stays were booked in 2010 in various hotels of the countries of the European Union. This figure, an increase of 2.8% compared to the number of bookings recorded in 2009, followed two years of decline. The number of nights spent in hotels – for leisure trips as business – had fallen by 3.7% in 2009 compared to 2008, already bad year for the hotel because bookings were down by 0, 3% over 2007.

The real dynamic recovery has been felt at the end of the first half of 2010. Between January and April, the number of overnight stays increased at an annual rate of 1.7% over the same period last year.Between May and August, the trend has accelerated up to 2.6% growth. Finally, the last quarter, the increase was 5.1%.

France in fourth position

The number of overnight stays increased in most European countries. The highest increases were registered in Estonia (+14.1%), followed by Latvia (+11.6%), Lithuania (11.1%) and Malta (+11%). Five European countries however have earned on their own 70% of bookings cheap business cards. Spain leads with 268 million hotel nights, a score increase of 6.8% compared to 2009. Italy follows with 245 million overnight stays, although this result shows a decline of 0.8% over the previous year.Germany totaled 229 million bookings – up 5.8% – and then France (196 million, +2.4%) and finally the United Kingdom (166 million down 2.1%).

More foreigners

Sign of better economic health, the number of nights spent in hotels by people from other countries is rising sharply. It increases by 5.1% when the stays booked by nationals grow only 1.1%. 45% of nights spent in hotels have been by non-residents of the country. Estonia, Latvia (75%), Greece (74%), Austria (72%) and Bulgaria, are the states that received the largest number of foreigners in their residences. France has recorded 66 million room nights booked by non-residents, or 33% of the total. A score increase of 3% compared to 2009.

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Low-income households will pay the cheapest water

Wednesday Feb 16, 2011

Passed by the National Assembly in late 2010, then by the Senate last January, the law establishing a social price of water has just been enacted. After similar measures on Legaz and electricity, that social progress was a little past unnoticed as recalled by Le Parisien on Tuesday-Today in France. It will apply from 1 January 2012.

Since the consecration of the "right to water for all" by the law of 30 December 2006, several voices were raised for that right to be accompanied by a financial guarantee that any individual can access drinking water for food and hygiene, under economically acceptable. The idea of introducing a social tariff was included in a report of the Economic, Social and Environmental Committee (EESC) in April 2009.The report noted that while the number of file unpaid treated water dispensers public and private sectors was increasing: 33,500 records of individuals unable to pay their water bills had been well reviewed in 2008.

Even if water is cheaper in France than in most European Union countries, to 3.40 euros per m3 on average 5.16 euros cons such as Germany, a recent study by the services public water and sanitation confirmed recently that the water prices had risen faster than inflation in recent years, an average of 3.3% annually since 2004. Pioneer, the city of Libourne in the Gironde has taken the lead in establishing a very low rate of 0.10 euro for the first 15 cubic meters and then a gradual increase in the price up to 200 m3.

The social tariff introduced by the text published in the Official Gazette on February 8 does not set the price that must be applied per cubic meter of water consumed, as in France each municipality is responsible for ensuring the public water service. The text proposed by the UMP Christian Cambon provides services managers of water services revertants 0.5% of their revenues to fund departmental housing solidarity (FSL), which centralizes and distributes aid in housing and Power and telephone. The goal is to help households struggling to pay their bills. ASPs will also be equipped with an additional EUR 50 million from 2012. The government also pledged to establish a preventive system to help families in situations of default.

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