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Too big banks are no longer popular. International regulators working on a way to discourage institutions to reach a critical size, representing a systemic risk. The aim is to avoid repeating the situation in 2008 when, at the height of the crisis, governments were forced to come to the rescue of the banks described as "too big to fail", ie plants with failure could endanger the financial system.

The Basel Committee on banking regulation, which will meet next week and consider the implementation of specific measures to the thirty largest banks, reported Bloomberg and the Financial Times. The idea would be to impose new capital requirements higher than other institutions through the application of a new specific prudential ratio.If these measures are validated, the additional reserve capital that institutions would be selected will earn 3.5% of their risk-weighted assets according to Bloomberg, or 2.5% reported the Financial Times. Restrictions in addition to 7% imposed under the Basel III standards.

The new ratios would be imposed on institutions sliding scale depending on the size of banks and their links with their competitors. The Bloomberg stressed that the highest ratio of 3.5% is not applicable today. But it would serve to discourage institutions to grow further.

France wants to exclude Crédit Agricole and Societe Generale lists

In total, nearly 30 banks that would be an increase in their capital reserve requirements. The most severe restrictions relate eight institutions including BNP Paribas.Four other European banks (Deutsche Bank, HSBC, RBS and Barclays) and three U.S. (Citigroup, JPMorgan and Bank of America) are also involved free business cards. They would be forced to comply with a Core Tier 1 ratio, an indicator that measures the equity of 9.5%, the Financial Times. A second level would include four other banks.

But the list of banks involved are not yet fixed. The French regulator to try and ensure that Crédit Agricole and Societe Generale will be free of these new rules.

In addition, regulators have not defined the means by which institutions can be put in order.The arsenal of new rules imposed specifically to institutions "too big to fail", whose size deemed critical obliges the authorities to intervene in case of bankruptcy, should be ready for the next scheduled for November G20 stated Mario Draghi, chairman of the Financial Stability Board, in April.

But these new laws should not prevent banks from merging. "Institutions should already get the green light from regulators before any merger, the new ratios will be charged an additional constraint," says a corporate lawyer at the agency Bloomberg.

Little reaction in the markets

These ads have little impact on the shares of French banks. In the morning, the folds of the securities of banking stocks are less important than their benchmark index, the CAC40.The banks operate in a pocket-handkerchiefs: Company Génarale folds 0.5% 0.4% BNP Paribas and Credit Agricole 0.3% against a fall of 1% for the CAC 40.

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The city's economy and currency, including the Bank of France on Wednesday unveiled plans will be the equivalent of the CSI de la Villette. "An ambitious educational project and citizen supposed to receive 100,000 visitors a year from 2014, of which 50% of schools. The investment is around 30 million euros. It will decrypt "the economic mechanisms, monetary and financial information" through "interactive presentations and fun." Even if it fills a gap in a country where economic culture is deemed poor, the announcement would be commonplace.

His place is much less. Extension for this company, the Bank of France has chosen the Plaine Monceau, one of the most exclusive districts of Paris. She intends to kill two birds with one stone. The splendid Hotel Gaillard, neo-Renaissance style, built in 1882 and situated place du General Catroux, was one of its three branches in Paris.It will be rehabilitated and converted into 'space museum. " The architecture will be preserved, especially the amazing vault surrounded by a moat. Former clients, such as Earl Moses Camondo neighbors who came to place their treasures, would be very surprised that we devote so much effort to explain the money. They were trained on the job.

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The money can be learned

Solidarity savings gaining weight. As evidenced by the latest barometer of the association Finansol group of leading financiers in solidarity with the Hexagon, its stock is around 3.15 billion euros at the end of December 2010, an increase of 31% compared to the previous year. "Every family of products grew with rates of 15-50%," says Finansol in a statement. Even if these good figures owe much to the legal requirement for companies to make socially responsible funds in their employee savings schemes, which weighs half of the total outstanding.And they must also be compared to the total amount saved each year by the French, which is around 250 billion euros.

Journalist expert on the subject, and author of "Solidarity savings for Dummies" (available since May 12 First Editions), Eric Larpin believes that such legislation has almost doubled the number of savers, who passed the bar of 700,000 people. Ultimately, these funds are supporting local projects of SMEs and cooperatives in sectors "of recycling, recovery, fair trade, organic farming or carpool," recites the journalist.

These are all areas where it is difficult to get funds."Companies faced in my work always tell the same story: their case was set aside by the banker, who considered them too risky in the absence of a business plan or market research deemed appropriate," says Eric Larpin. This explains why banks are reluctant to offer these savings products:

The player has to use default in the articles of figaro.fr. maj1

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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From our special correspondent in Berlin

The next governor of the euro will be Italian. Angela Merkel last Wednesday raised uncertainty by supporting square Mario Draghi, head of the Bank of Italy, to take over from Jean-Claude Trichet at the head of a European Central Bank very vulnerable in crisis debt.

"I know Mario Draghi. (…) It is very close to the German designs: a culture of stability and defense of a strong economy, "said the Chancellor to justify a rally, in an interview with Die Zeit.Less encumbered by the nuances, the tabloid Bild now boasts the qualities "Prussian" the Italian candidate, having long alarmed to see the euro for the first time given to a banker from the south of Europe.

"Super Mario" has much to do at the head of a central bank shifted from cautious role as guarantor of the single currency to a primary mission to extinguish the fire of sovereign debt. Jean-Claude Trichet will leave office Oct. 31, after eight years in Frankfurt. The European summit in late June formally appoint his successor. The first lap will be held on Monday at the monthly meeting of the Eurogroup of 17 countries.

Outsider

Unless dramatic turn of events, the dubbing of Angela Merkel made the decision. Mario Draghi, 63, finally gather serious advantages: discretion, meaning the state and international stature.It is also the patron of the influential Financial Stability Board, appointed by the G20 forum to propose safeguards against any repetition of the financial crisis.

Status remains the favorite yet tasty contrast to the former lieutenant of the investment firm Goldman Sachs. Nicolas Sarkozy, toasting politeness in Berlin, had given her support since April 26. But not without some gnashing of teeth on the French side, facing a candidate passed by the U.S. bank, a pillar of financial globalization today challenged.

On the German side, the Chancellor has raised the reluctance to five days of the deadline. It has long been an outsider, because of a passport tough sell in the German public.Before you turn tail, the Bild Zeitung explained to his millions of readers that Italy and inflation go together "like spaghetti and tomato sauce."

The tide has turned in February lorsqu'Axel Weber, former head of the Bundesbank and champion of orthodoxy, has created a stir by throwing in the towel. Since then, Germany has found no replacement candidate. Wednesday, Angela Merkel has drawn a line. She preferred a consensus candidate to a fratricidal competition, the ECB has no need.

The event is scheduled for Thursday evening at the Defense around 21:45. All skyscrapers are in the dark, while the First Tower, she will illuminate. One way to celebrate the inauguration of the "little one" which with its 231 meters just to rob the place of Montparnasse Tower tallest building in France totally free credit score.

Click on image to enlarge.

When the alleged espionage case was transferred to the handling villainous, Patrick Pelata, the deputy CEO of Renault, was sacrificed once to take the blame and protect his boss, Carlos Ghosn. "When the investigation is complete, we will draw all the consequences to the highest level of business is to say to me," he said in a March 4 interview with Le Figaro . Duly noted. This incredible adventure will put a stop to a stellar career that began at the manufacturer there are twenty-seven years.

For several years, Patrick Pelata, 55, has emerged as heir apparent right arm and his classmate Polytechnique in 74, Carlos Ghosn. Appointed Chief Operating Officer in October 2008, he assumed operational management of the entire company in crisis, leaving the CEO's long-term strategy.Previously, it had already become the number two official, adding his wake in the footsteps of his mentor.

Brilliant and unconventional

Grand son of farmers, the son of teachers from the Ariege, Patrick Pelata doing a brilliant classical route: preparation at Louis-le-Grand, Polytechnic, School of bridges and causeways, which he was president since 2009. Brilliant but unorthodox, the young engineer developed a passion for sociology. Postgraduate at the Ecole des Hautes Etudes en Sciences Sociales, he wrote a thesis on the development of Taylorism and Fordism in French factories. Communist activist, a brief on the working conditions of miners in the Pas-de-Calais earned him a week off to X, for violating the duty of reserve soldiers saving account payday loan.

At 29, the young executive at Renault. An avid robot, is foreman of the welding robots Flins.It is then in charge of the platform Twingo. When, upon redemption of Nissan, Carlos Ghosn asks about him that is ready to follow him to Tokyo, Pelata packed his bags. His expertise in industrial organization and the range of vehicles, as well as his hobby of sociology help contribute to the recovery of the Japanese manufacturer in disarray. When Ghosn took charge of Renault, he brings with him his right arm. This is one of the few members of his bodyguards at tu boss and contradict appropriate.

Since 2008, Pelata the helm, during the crisis of the automobile. It has launched a voluntary separation plan of 9000 people, handled the failures of the Laguna and Twingo 3 2 and reoriented the manufacturer to the cars of the future. Lucid, he was aware of the questioning of the status of the self in contemporary society.He acknowledged the responsibility of the industry in global warming and went all-out on electric vehicle programs, as alleged spies were supposed to have tried to hack.

When, a year ago, the government pin Renault, which plans to produce the new Clio in Turkey, the boss left Pélata defends the logic of cost reduction business. This fan of hiking and judo, father of four children, now paying an unfailing faithfulness.

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Xavier Bertrand, Minister of Labour and Employment, wrote on Thursday afternoon with leaders of trade unions and employers to tell them what will be the "government commitment" after the merger of two existing devices accompanying retrenched *: Convention reclassification Custom (PRC), available throughout the country and funded largely by Unedic, and the contract of employment transition (CTP), experienced in 32 employment areas and supported by state.

Wanted a reconciliation and announced by the president in the fall to offer, as of June 1, dismissed the economic enterprises with fewer than 1,000 employees do not benefit from rehabilitation measures by their specific company, "a device effective security of their careers. "According to the Court of Auditors, 152,000 people have benefited from the two devices in 2009 during the height of the crisis (137,000 and 15,500 CRP CTP). The state plans to 6000 entries per month in the new device, or 72,000 beneficiaries a full year.

Specifically, Xavier Bertrand proposed the social partners to "take over half the cost of assistance to beneficiaries." The Minister also proposes to finance half the cost which would be generated, for compensation, by a change in conditions of unified access to the device. To qualify for CRP, a licensee is economic today have at least two years of seniority in the business. This right of access, the unions want to cut it to one year in the new device and the state is willing to take some responsibility.The minister does not however refer to the premium assistance to return to work of CTA is to grant to a beneficiary who takes a job before the end of its guidance, a bonus equivalent to half of its remaining duties (within three months). "It's voluntary," says one rue de Grenelle. Kind way to tell the unions and employers that will be theirs if they want to generalize this measure to finance it. Ultimately, the state is willing to put the pot of 70 million euros per year paydayloans. Is half that Unedic, whose rating would be around 150 million.

CTP legally existed since Thursday night

Xavier Bertrand also lingers in the mail on how to control the future unified system."In my opinion, the dynamism of the local partnership will be a key determinant of success," said the minister who talks of a "flight to be provided jointly by national and territorial social partners and the state." Exit therefore employment center that will become "an operator like any other, responding to calls for support service recipients. "This is the best way to power all those involved on the subject," a court close to the minister of Labour.

Last item of mail ministerial, not less. The former secretary general of the UMP to the social partners confirms its wish to "extend the PTC in the current until 31 May 2011", identically to the decision that unions and employers have already taken for CRP. Problem: we need a legislative vehicle, a law to extend the PTC, which expired on March 31 at midnight ….Legally, therefore, the PTC has not existed since Thursday night and its beneficiaries should be supported and compensated. "We will ensure that beneficiaries continue to have the PTC," says we rue de Grenelle, a little embarrassed to armholes. "It's a craft, a trade unionist complained. All is not legal. "The government, which has missed the boat, therefore," as if nothing had happened "and intends to resolve the problem later through retroactive legislation that will appeal greatly to the wise probably the Constitutional Council. By his death in two months, the PTC should accommodate 1,200 new beneficiaries.

* Devices that provide the beneficiaries with very intensive coaching for a year and guarantee the same period an allowance equivalent to 80% of their gross salaries.

Cancellations will travel faster than the revolutions themselves Arab. While the wind blows still timidly revolt in the Middle East, several of them noted a sharp drop in hotel bookings.

Jordan in particular, several sources said that cancellations had reached 50%. A tour operator confirms that in 3000 tourists who booked a trip in the coming months, 1200 had already annulled. Jean-Francois Rial, CEO of Voyageurs du Monde, a leading tour operator in France, also referred 50% of cancellations to the country. This situation is particularly worrying for a local economy where tourism represents 14% of GDP, with a turnover estimated at one billion dollars in 2010.

Syria is no exception.Ghassan Chahine, owner of Naya Tours agency in Damascus, said he registered 35-40% cancellations for peak tourist season which runs from March to May, mainly by Europeans. The Syrian Minister of Tourism Saadallah Agha al-Qala, has been forced to revise downward its objectives: "We do not expect an increase of over 11% to 12% of the number of tourists" against an average annual growth of 15% since the early 2000s.

"All in the same bag"

Tourism professionals in the Middle East denounced the confusion in the minds of Western tourists. "They are influenced by media coverage and put all countries in the Middle East in the same bag, do not differentiate one country from another," said Nabulsi Touhami, office of tourism in Jordan. Tourists have canceled their trips to all Arab countries. "

Jean-Francois Rial, "people are more worried about what might happen in other countries than those where the revolution is over. Is that King Abdullah will not jump, do as the king of Morocco does not have a problem, as Hu Jintao? ". Ghassan Chahine agrees: "People tend to think that the revolts are taking place across the region."

Hopes

Despite their concerns, industry professionals want to believe in an imminent improvement in the situation. "The perception of people change very quickly. It does not take much time before the booking for a country not resume, "says Sean Tipton of the Association of British tour operators.

Until the fears subside, tour operators could, like the Maghreb, betting promotions.Marmara, the leading destination Tunisia is already seeing the success of its offer a "pay for a given": "We found in March the level of bookings last year, with 8000 departures scheduled within a month," explained Le Figaro Florian Vighier, its director general.

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"The crisis is upon us. The finding of Stéphane Hamelin, president of the family group Hamelin (Canson, Oxford, Elba), the first European paper maker, is final. "After a great year 2010, we are facing a real collapse of our margins," says he. The doubling of the price of pulp (450 to 950 dollars per tonne since September 2009), which represents about one third the cost of paper, and the outbreak of chemical components such as polypropylene (+70%) have driven papermakers . Not to mention the doubling of the price of potato starch, used to bleach paper, or soaring oil prices.

Specifications at subway ticket

"We will have to spend double-digit increases from distributors, especially as the (price of) raw materials continue to rise," said Stephane Hamelin.On some products, prices negotiated in September last no longer reflect the reality of progress. "Basically, we are missing 4 to 5 points to pass to remain constant margins," he adds.

The soaring price of pulp is mainly due to the increase in Asian demand. "Weather conditions are deplorable in the world also made it difficult to logging," said Jean-Olivier Roussat, deputy CEO of Exacompta Clairefontaine (Clairefontaine, Quo Vadis, Rhodia …), which divides the market in France notebooks and diaries with Hamelin cash advance loan no fax. The earthquake in Chile, the second largest producer, has also destroyed many factories pulp.Moreover, the concentration of production in the hands of some twenty large global suppliers increases the pressure on prices.

Notebooks to pocket files via the subway tickets – manufactured by Clairefontaine – the production of many items is concerned. The article is more basic, plus rising raw material arises.

Thus, a stapled booklet of 96 pages Oxford, whose raw material (paper, cardboard) is half the cost, cost (ex-factory) is spent in one year from 20 to 23 cents (+ 15% ). The sale price consumers would likely switch to 53 cents, an increase of 10%.

Same calculation for a batch of one hundred transparent perforated plastic bags (Elba), which represents 70% polypropylene raw material. Hamelin asked retailers a rate increase of 24%.Finally, 20% could be passed on to consumer prices.

Faced with rising costs, manufacturers have little room to maneuver. In Canson, the inventor of tracing paper, purchased in 2006 by Hamelin, improves continually cutting corners to prevent paper losses.

The company has also developed a device that allows eco include reducing the use of cardboard in his pockets drawing paper.

"After a great year 2010, we face a real crush our margins"