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In June 2001, less than a year before the presidential election of 2002, left and right united voted in favor of a major fiscal reform, that of the organic law on public finance laws (LOLF). This text made more transparent accounts of the state. Driven by Didier Migaud at the time of the general rapporteur Socialist Finance Committee of the Assembly, and Alain Lambert, President of the same centrist Committee in the Senate, the reform has been a consensus.

Such a consensus is lacking today to the golden rule, the constitutional reform that would lead to a zero deficit.Yet it is, as LOLF, only to reform "technical", which does not tend to lead policy (tax increases or spending cuts) to balance the books saving account payday loan.

In addition, France is now bound by a commitment: EU leaders decided to adopt in their country a golden rule by the end of 2012. At a conference held for ten years LOLF Thursday, François Fillon regretted blocking the left. "In the deep crisis in particular the euro area, (the Golden Rule, Ed) is an extremely strong sign of the will of all political forces of our country to achieve the goal of zero deficit" he said.

With LOLF, France produced a decade of budget information better. Previously, Parliament voted the new spending next year. It is no longer the case since the draft budget for 2006.

Financial markets remain grounded arms vis-à-vis Italy. The announcement of the imminent resignation of Silvio Berlusconi yesterday was greeted with great relief on all European markets. It allows to hope for the establishment of a government more able to put public finances in Italy.

Analysts saw in recent weeks that the Italian bond market suffered from a premium of distrust Berlusconi estimated at 100 basis points (1 percentage point) on the rates of government bonds to 10 years. Not surprisingly, the announcement of his impending departure should have been welcomed by a substantial amount of rates.

"Television will become the media on which the user will find all the services he needs, including health," said Philippe Delahaye, president of Toshiba Systems France. For nearly a year and for another six months, the Japanese tests, with the support of the General Council of Bas-Rhin, a service called Demeter and home support for elderly dependents.

The system set up involves monitoring remote computer. But not to frighten the people involved, the main unit is television, connected to the Internet. "The equipment costs about 6,000 euros full, two months' rent in a nursing home," said Philip Bell, general manager of Toshiba-Cebea, a subsidiary of Toshiba dedicated services.This includes television and home automation equipment, including a smoke detector, a wristband alarm in case of fall and appliances suitable for pathology (blood pressure, diabetes control …). Then, the service costs 200 euros per month, including Internet access.

"This allows medical personnel to perform remote controls, but also the patient to easily get in touch with family members through a videoconferencing system on the TV," said Philip Bell. Medical staff and the senior may also contact by mail, through an electronic pen. Just write on a single sheet, the text is automatically entered and the e-mail sent when the pen is rested on its base low interest rate personal loans. Forms to the attention of nurses and doctors have also been developed: just check the right boxes with the electronic pen and they are added to the medical record.It also allows for monitoring of medication, food … "We found that health staff was not comfortable with a keyboard, where the idea of ​​electronic pen, said Philip Bell . We are also working to develop a speech recognition system. "

Recurring revenues

For Toshiba, the objective is to develop this service at the national level but also in other countries. Japan pays attention to the experience of Alsace. Beyond the societal issues related to aging, a new economic model that is emerging. This type of service should allow the manufacturer to generate recurring revenue through subscriptions.

"The rise of the TV connected through the development of local services," added Philippe Delahaye.Most TVs sold today by Toshiba can be connected to the Internet, or consumers do not always use this function. By bringing seniors to the technology, Toshiba is not only the population but also those around them: Health care workers, children and grandchildren.

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Is credible but not to frighten. It was a difficult equation that would solve the government well aware that he must adapt its economic forecasts for 2011 and 2012, now too optimistic. The air hole world of activity in the spring, the debt crisis of July Greek and diving markets in August have persuaded it would be impossible to achieve 2% growth this years and 2.25% next year born, as previously envisaged.

"It would be irresponsible to ignore the current situation," hammered François Fillon. The government wanted to be as realistic as possible. He expects GDP growth of 1.75% in 2011, "because it takes even more cautious for next year," 1.75% also in 2012.

The deficit to 4.5% in 2012

These new figures are in line with what experts expect. Few saw growth reach the 2% this year. Even fewer were those who planned the event feasible for 2012. For next year, the forecasts of economists from banks for the time range from 1% to 2%. The Consensus Forecasts, which synthesizes a fortnight believes, anticipates 1.7%.

That market pressure, which monitor the slightest faux pas of public finances, and this downward revision of growth that led the government to provide additional savings efforts, without waiting for the presentation of the bill Finance for 2012 in late September.

The austerity measures – the government refuses to call "rigor" – will lead an effort to one billion euros this year and above 11 billion euros in 2012.This amount will break down next year, 10 billion in additional revenue and $ 1 billion of savings on expenditure. Not to mention spending another billion set aside to "deal with any contingency."

All this should enable France to reduce its public deficit of 5.7% of GDP in 2011 to 4.5% in 2012 – a final goal "a little more ambitious" than was expected previously. Enough to hold the European commitments and keep the famous "AAA" rating that allows the country to finance its debt with low interest rates.

"We are taking steps that do not break the growth (…) and strengthen the tax and social justice," said the Prime Minister.One of the most emblematic devices decided Wednesday by François Fillon and Nicolas Sarkozy is to tax the very high incomes so "exceptional" – to return to 3% deficit, is in principle in 2013.

But it will also count with a new movement of the plane 10% tax loopholes, increasing tobacco prices, higher taxes on savings and real estate gains, lower exemptions from employer contributions on overtime or a plan amendment to postpone the income tax (see below). The French now know what to expect …

The damage is limited. After the first weekend after the degradation of the sovereign rating of the United States by Standard's and Poor's, the world was afraid to wake up on Monday on a stock market crash. Certainly, Asian stock markets, first to start the week and give the trend, showing all this morning a marked decline of more than 2%. But the risk of a crash seems for the moment excluded.

More than 48 hours after the announcement that shook the world's largest economy, Asian investors have been partially sensitive to the political mobilization of the weekend, both of European leaders, who called for the adoption by the end of September pland the rescue of Greece on 21 July. But also that of the ECB, on Sunday night discussed a possible acquisition of Italian and Spanish debt, and the White House, which yesterday called for unity among Democrats and Republicans.

The yen is rebounding

Still, if the announcement of the degradation of the United States was somewhat expected in Asia, the timing chosen by Standard & Poor's has caught the markets, even after a weekend of reflection, continuing their descent into hell. In this context of concern about the state of European and American finance, the yen has tended to take some strength vis-à-vis the dollar and euro. Around 4 o'clock, Paris time, the dollar was worth around 78.05 yen and the euro hovered on the other hand around 111.90 yen, the two displayed small decline vis-à-vis the Japanese currency. A phenomenon still unfavorable export values.

In Tokyo, after opening down 1.40%, the Nikkei 225 blue chips of its losses widened in mid-session.The index fell by 2.17% to 9097.90 points, although the statement last night the Japanese Minister of Finance Yoshihiko Noda, who has maintained his confidence in the U.S. Treasury, and emphasized the mobilization of the European central bankers sign of awareness on the efforts to be undertaken.

Same phenomenon in other major Asian markets, but more amplified. China, which was very critical this weekend against the failure of U.S. lawmakers to find a long-term solution to their debt problems, the tooth was also harder on the markets: the Hang Seng Hong Kong picks up 4.12% on Monday morning at 20,082.80 points while the Chinese CSI 300 lost 3.51% to 2795.64 points. Beijing is by far the largest holder of U.S. debt in the world with 1.16 trillion dollars of U.S. Treasury bills in the drawers.

Elsewhere in Asia, all places show a sharp decline. The KRX South Korean loose 3.45% to 7581.86 points, while the S & P / ASX 200 Australian loses 2.14% to 4017.60 points. A Bonbay, the BSE Sensex was down 2.60% to 16,855.60 points. Finally in Singapore, the FTSE Straits shows the largest decline (-4.14%) to 2870.92 points.

Oil continues to tumble

Moreover, in this context very uncertain about the strength of economic recovery, oil prices continued their steep decline on Monday morning in electronic trading in Asia. A barrel of "light sweet crude" for September delivery lost 2.59 dollars to 84.29 dollars. That of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

At the same time, gold has gone through the roof of 1700 dollars to 1704 dollars an ounce on the market in Hong Kong.

How to make the Greek economy to become as competitive as the German? Nothing simpler. "I guess the teachers of vocational schools and skilled craftsmen to retire would be willing to be sent (in Greece) fixed-term" is to suggest the European Commissioner for Energy, German Günther Oettinger in an interview with the Hamburger Abendblatt. "We hope that the German economic culture will allow transfer to Greece," said simultaneously the Minister of Economy, Philipp Rösler, also Vice Chancellor Merkel's government as head of the Liberal party.

The Minister of barely 38 years of Vietnamese origin, embodies the virtues of miscegenation and he is proud payday loans for bad credit. Philipp Rösler considers that there is no reason why the methods used to shore up the former communist East Germany do not work in favor of Greece.His words, the hints of cultural imperialism, appear a bit naive. But they clearly reflect a large part of public opinion in Germany. And after all not ready do we not have to Jean Monnet, one of the founding fathers of Europe, this formula, "If it again, I would start with culture"? It's now or never to try.

Against all odds, the enthusiasm of the French for the stone has not really denied the first half. After the euphoria of 2010, rising prices and rising interest rates on loans, the housing market remained strong. Despite a decline in the second quarter, the production of housing loans has increased by 17.5% year on year, according to the study by the home loan / APF.

"The demand does not seem to have reacted to the rise in interest rates," says Michel Mouillart, professor of economics at the University of Paris X-Nanterre, who led the study. However, credit rates climb since November 2010."After increasing by 0.1% per month between November 2010 and late March, they rose by 0.5% per month in the second quarter." As a result, rates increased from 3.22% (excluding insurance) on average in October 2010 to 3.9% in late June, returning to their levels of September 2009 or "even in the summer of 2006, when the market was booming."

For borrowers, this change is not painless. For a loan of 200,000 euros over twenty years, the monthly payment rose from 1,160 euros in October 2010 (with a rate of 3.5% excluding insurance) to 1244 euros today (with a rate of 4.3%) by Empruntis . com.

Longer loan periods

In seven months, the total cost of this loan was therefore adds more than 20,000 euros, 78,400 euros from 98,560 in October.However, the recent rise in rates could be partly offset by a lengthening of the duration of loan (215 months on average in June) and the significant increase in the personal contribution (10.5%) coming in part of the first resale of property.

In Ile-de-France and the rise of the personal contribution is the fastest. "If there are significant cost differences, but they are erased when comparing income levels," Michel Mouillart into perspective. In 2010, the average cost of an acquisition accounted for an average 5.8 years of income, against 5.5 at the national level. "We're trying to restore the normal activity of normal and resale market. When he is returned to the pace that it had before the crisis, the price growth will be slower, "predicts Michael Mouillart. It anticipates higher prices in the former between 6% and 7%, but with wide regional disparities.But the market for home ownership could slow. "The year is expected to stabilize the production credit," predicted Michael Mouillart.

As for lending rates, they should not move at short notice. But "it is very unlikely to go down ', say experts.

The concern comes on Wednesday in U.S. markets. At the close, the Dow Jones, who was sitting in the balance, lost 0.65% at 12,111 points, the Nasdaq 0.67% to loose 2669 points and the S & P was down 0.64% to 1287 points. On Tuesday, the New York Stock Exchange finished sharply higher.

Markets have plunged into the red after the speech of the U.S. central bank. This has lowered its growth forecast for the year and maintained its interest rates near zero.

These announcements were sealed atmosphere. But Wall Street seemed relieved by the vote of confidence of the Greek Parliament in the new government. In fact, last night, the Greek Prime Minister George Papandreou, was full of socialist votes. But despite the vote of that night, Greece remained in a serious situation.The country needs to pass before June 30, the austerity plan that provides savings of 28.4 billion and 50 billion privatization until 2015. On the foreign exchange market, the vote of confidence of the Greek Parliament supports a slight decline in the European currency. At the time of the opening, the single currency was worth 1.4402 dollars against 1.4408 late Tuesday.

In terms of oil, U.S. crude stocks fell more than expected last week, said Wednesday the U.S. Agency for Energy Information (EIA). On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in August finished at 95.41 dollars, up $ 1.24 from the previous day.

Rain orders for Boeing at Le Bourget

The U.S. aircraft manufacturer Boeing (-2.50% to 72.13 dollars) is particularly surrounding this Wednesday while orders are pouring at Paris Air Show.The U.S. should, however, is exceeded by its European rival Airbus.

Always on the side of values, after the close of Wall Street Adobe Systems (-6.26% to 30.01 dollars) announced a 54% increase in earnings in the second quarter thanks to strong demand for its software, despite a depressed economic conditions. The leading design software has reported a net profit of $ 229.4 million, or 45 cents a share, against 148.6 million (28 cents) a year earlier. Excluding items, earnings per share were 55 cents, while the consensus gave 51 cents.Revenues increased 9% to $ 1.02 billion.

Also in the technology sector, Apple (-0.81% to 322.67 dollars) could launch the new version of the iPhone in September and work on a version of the famous low-cost phone.

The search engine Google (-1.22% to 487.01 dollars) has crossed the symbolic threshold of one billion unique visitors last month. This is the first online service to achieve this level of attendance, according to data collected by comScore. Microsoft sites (-0.46% to 24.65 dollars), however, follow closely with nearly 900,000 unique visitors in May

For his part, Jabil Circuit (3.29% to 19.47 dollars) made from earnings per share in the third quarter of $ 0.58 against $ 0.57 and $ 0.25 expected last year.Turnover reached 4.23 billion dollars against 4.14 billion expected.

U.S. bank JP Morgan (-0.54% to 40.69 dollars) is ordered to pay $ 153.6 million for taking positions against one of its own customers, the fund Magnetar. The Securities and Exchange Commission (SEC), gendarme market, estimates that JPMorgan did not inform his client of positions on a lower mortgage when he invited him to invest. Also note, JP Morgan announced Wednesday the launch of its offer of "prime brokerage" services (investment funds) in Europe.

The shareholders of National Semiconductor (-0.36% to 24.65 dollars) approved the acquisition of Texas Instruments.

Western Union (-1.90% to 19.59 dollars) announced an agreement with Serviban that will allow the launch of an international service PAYMENTS Peru.

Young people do not aspire to the job security. According to a TNS Sofres poll * for AEF released Thursday, students in second year Master (Bac +5) want to work primarily in the private sector. They are almost two thirds (61%) wish to find future employment in a company, against only a third (30%) in the public service, hospital, or territorial government. A finding that contrasts with previous surveys on the subject, but that did not exclusively on those college students having similar profiles to those of larger schools.

"A bias-size grave, Danielle Deruy analysis, executive director of the agency specialized in teaching AEF. For students, salvation is not the public! Today they remind us of another image: they like the company and hopefully they will now. "Only literary exception, because of their high palatability (39%) for teaching careers. Among these students graduate and very end of the course, only 5% also aspire to work in an NGO.

Salary underestimated

In detail, their choices reflect the concerns of a new generation assets. The company to which they aspire to be primarily responsive to its employees, dynamic, innovative and socially responsible. So many choices that confirms the ranking of companies in which to work published this Friday, which ranked first on the wishes of the American students Microsoft. About their work, they hope exciting and friendly, allowing them to learn a lot.Have the opportunity to emigrate, however, is unimportant to them: two masters students even put this criterion in last position.

Wishes which are not inconsistent with some realism. A quarter of them want to find their first job in the council, even if much work for "a comfortable salary." Their remuneration does not appear as long as paramount to elect their future employer. In connection with a labor market that they find it difficult to integrate, rather they underestimate their wages will be eligible. And a majority said it would accept an annual salary of less than 25,000 euros per year, or 1730 euros per month. "They still lack a lot of confidence in them," said Danielle Deruy.The director of the AEF recalls that the average salary of first job found by the Agency for the Employment of Executive spring to 2170 euros gross per month.

* Survey conducted among 6365 students from 28 March to 22 April /

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Sony continued its demining operation. Sunday morning, leaders of the electronics group broke the calm of a week full of holidays in Japan to hold an emergency press conference after hacking data of 78 million customers of the platform game online PlayStation Qriocity and a new music download service. On this occasion, the head of consumer business group, Kazuo Hirai, presented his "sincere apologies" and announced a series of measures to "restore confidence" of players.

The situation is serious. Between April 17 and 19, the network information Sony has suffered a virus attack that allowed hackers to capture data from users of the PlayStation Network (PSN), including their name, date of birth, email address and password.Above all, Sony has "not ruled out the possibility" that the bank details have been stolen. Even if the information was encrypted, some 10 million bank details can be found potentially in nature.

Measures of common sense

Faced with this threat, Sony executives have started to deliver the recommendations make sense. They advise gamers to "look at their records and monitor the history of their purchases by credit cards, and change their username and password on other online services if they were identical to those entered on the network PlayStation. This change of password will be imposed when the PlayStation Network and Qriocity service, suspended since April 20, will return to service in the coming days.Players receive one month's premium subscription service for the PlayStation, as compensation paydayloans.

But Sony has also enabled internally to prevent such mishaps from happening again. The electronics giant has announced "measures to improve the security of its network, with the establishment of a" monitoring software automatically to defend against new attacks, improved data encryption , more sophisticated means of detecting intrusions on the network and adding new firewalls. A "Mr. Computer Security "will also be appointed.

A survey in France

On the investigation front, Sony has relied on the expertise of two companies specializing in computer security, while cooperating with authorities in several countries, including the FBI in the United States which are grouped as many users.Official inquiries have been launched or are about to be committed by Great Britain, France, Australia and Hong Kong. For now, no information was provided on the likely perpetrator of this piracy and their motivations.

According to Kazuo Hirai, it is too early to evaluate the accounting consequences of piracy. The cyber attack occurs however at a delicate time for Sony, faced with the consequences of the terrible earthquake and tsunami of March 11 in Japan that led to the temporary shutdown of some of its plants. It also touches the heart of its development strategy in video games, which relies more on online play with each new generation of consoles, and thus the players' confidence in buying from a distance.