In a completely different note, our brother Le Monde has published a major survey of its specialist art entitled "The German art is greater" (sic).Dealing with three exhibitions held this fall in Paris (Baselitz, Lüpertz and Richter), journalist and university Philippe Dagen highlights the quality of their training, the dynamism of their collectors and regionalization of their art centers, ensuring competition . After having watered three centuries of sublime music, will they outdo us again?

The admiration of Germany has become the national sport on the left bank of the Rhine. "It will take time to go to a joint work, we must move towards a common retirement age, it will move towards convergence of economic and social organization of our two countries," recommended last month François Fillon, in a speech at Matignon.The Prime Minister handed "the price of creative audacity!" The finger of suspicion towards the merger, given the respective performances, 150 billion trade surplus with them, 75 billion deficit at home, 6.9% unemployment there, by 9.2%. And then this terrible figure, which summarizes and explains its own precedents: from Munich to Hamburg, we continue to manufacture 5.3 million cars, with no change in recent years, while French car production fell by 3.2 2 million in five years.

Our guide would rather "fear of the police"

For their part, manufacturers are Germanic full of praise that they braid.Witness the latest ad Opel France on the radio on the bottom of a thundering speech in the language of Goethe, this comment means voice-over: "No need to understand German to know that Opel is German quality. "

Narcissism which the Germans, like all people, are tempted to succumb long history. Just remember the famous phrase of Richard Wagner: "To be German means to do something for herself." Taste for work well done. The composer of Bayreuth, revered by the French intellectual circles of the second half of the nineteenth century despite the defeat of 1870, speaking at a time when industrialization took off in all Europe bad credit personal loan lenders. Wagner wanted to stigmatize the mercantile spirit and the Anglo-Saxon capitalism. The industrial Germanic still close artisans described in his opera The Maîtrbaes Singers, the contrary does not care that the quality of its products.National competition of capitalism was raging. So much so that London had mandated in 1887 to register the trademark "Made in Germany" on products from Berlin. It was a way to deter British consumers to buy them. In vain, because they had quickly perceived the letters as a synonym for excellence.

Reforms "imposed" in Brussels

Our current debates on the tropism of both industrial and financial capital of others have nothing new. It is tempting to attribute the course to specific national cultural roots. The philosopher and sociologist Theodor Adorno, hardly suspected of complacency vis-à-vis the countries that had pushed him into exile, invoked "the great German ideas that celebrate independence with excitement, the purity of the things that the we only for themselves. "

The French seem all the more admirable that such principles are totally foreign. Our guide would rather "fear of the police" that the search for autonomy. Our drivers are less concerned about road safety control radars. Our governments are concerned with reducing budget deficits to meet the rating agencies and the "Maastricht criteria". The reforms we are "imposed" in Brussels, says it for ages. The euro was sold to the public as a "shield" and not as an instrument of independence, etc..

Renault advertisers are part of a powerful ideological trend in France when they refer to the standards of the Rhine. That Germany is a reference-ministerial in Paris, it is called "benchmark" – is obvious, considering its size and its results.That we should draw on the successes of others is also clear. But can we trace our tax on Germany not adjust the level of public spending (over 10% of GDP at home)? Lack of guiding principles, we simply stack the remedies indiscriminately. "Against unemployment, we tried everything!" Claimed pathos with François Mitterrand. One wonders if Wagner had not just right when he treated the French as "monkey people" (1864).

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Good news however for users Transilien (train network in the Île-de-France), the Thalys and Eurostar.Traffic on these lines should be "near normal" according to SNCF.

Transport Minister, Thierry Mariani, Thursday criticized the work stoppage of workers, finding that it was not "appropriate response" to the extent that he believes "it is not an act delinquency, this is a person who clearly has mental problems. " "This is not stopping the trains that they stop the insane," he said. The President of the SNCF, Guillaume Pepy, is on the same line. "This is a rare occurrence, an attack of such violence.It would serve no purpose to penalize travelers simply because a dangerous madman attacked controllers, "he said in Besançon, where the controller was assaulted in hospital.

No train service on the night of Thursday to Friday

The strike controller led Thursday the cancellation of all trains at night, and created a big mess all over the country. Some passengers were stranded at the station waiting for a hypothetical train.

Board trains at the Gare Saint-Charles in Marseille. Photo credits: GERARD JULIEN / AFP

François Fatoux – Yes, definitely. The study we just completed, 38% of users receive over 100 emails per day. With the massive use of email, employees are saturated with information, most often to treat in an emergency. Because the immediacy of information has sometimes a perverse consequence: we are given less time for reflection. Faced with the constant flow, it is not uncommon that the employee feels outdated, it has the feeling of doing wrong. A situation even more difficult to live as e isolates, by discouraging physical conversations.

There are, as a result of addiction to e-mails, as measured by the researchers, maintains that stress.65% of users say they check email every hour, but actually do every five minutes! And smartphones, which allow employees to access their e-mails anywhere, increasing still potentially stressful situations. Have a blackberry was once a privilege to lead. It has become the door open to requests cascade.

Finally, the electronic mail increases, or harm their productivity?

It is very difficult to make a full and final conclusion. The mails are also many beneficial effects on work organization. In reality, everything depends on how a company and its employees use it. Very different practices coexist. All managers not only send such emails in 23 hours. But it is true that this is a very time consuming activity.More than half of the users spend more than two hours daily to manage their mailbox freecreditscore. The stress is relentless. When we know that an employee is 64 seconds to regain his train of thought after receiving an email, we have a sense of loss of concentration occasioned by email.

Another of his perverse priorities is to disrupt. The urgency tends to take the place of hierarchy. The employees work is undeniable, but spend more time on tasks accessories. Productivity is affected.

How to fight against these negative effects?

It is important for companies to seize this issue and are considering the use it makes their mesagerie mail. Should we encourage the use of mails to professionals outside the office? Should we require employees to respond instantly? The rules must be defined.

As for employees, a few simple rules can help minimize these adverse effects. Set the parameters so that every email that arrives is not reported, for example. Or take the time to reflect before answering. Or consider before each shipment: would it be more effective to pick up the phone? Is it necessary to put this or that person a copy? In terms of dependence on the tool, the answer seems to me, however, not individual but collective. Is to leaders to lead by example.

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The terms of this agreement shall remain confidential. Note that Samsung should pay, however, could be as salty as that of HTC, which would pay about $ 5 a smartphone. The success of the Samsung Galaxy SII should fully make the computer giant.

In addition to this financial agreement, Samsung is committed to supporting the development and marketing of Windows Home Phone System. The Korean giant has also announced the launch of the Omnia W under the new version of the operating system.

Google angry

While Microsoft enjoys this new victory, Google outcry. The system designer Android is supposed to be free, denounced a "tactic for many times," close to extortion. "Failing to succeed in the market for smartphones, Microsoft relies on legal measures to extract profits from the success of others and may impede the pace of innovation," protested one voice. "We remain focused on the development of new technologies and partner support of Android," he said.

Terminal manufacturers using this operating system are in a very uncomfortable situation. First, Android is very expensive. On the other hand, the surprise takeover of Motorola's mobile division by Google places them under direct threat of seeing the search engine to give priority access to innovations in its new line of mobile phones.

The parade is perhaps the signing of new partnerships. Samsung is well to conclude an agreement with Intel to develop another operating system called Tizen.

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A few figures summarize the tremendous success of the first high-speed train developed by Alstom to accommodate all age groups, mobile executives, young, old … In all, nearly two billion passengers have taken in 30 years. 83% of French people have traveled at least once on board the TGV, which now serves 230 stations.

But the station pulled the alarm a few years ago commercial success, the TGV is not an economic powerhouse.The accounts of the industry are deteriorating, the fault, including the tolls the operator must pay to Réseau Ferré de France, the operator of the system for the use of high-speed lines. Today, nearly 30% of high-speed lines in circulation are not profitable. Guillaume Pepy regularly reminded that the company can no longer afford to invest in next-generation trains business cards.

The future railway landscape

Several projects of new lines are under way: the Rhine-Rhone, just opened, the Tours-Bordeaux, Brittany or the Loire region, not to mention the circumvention of Nimes and Montpellier. But others are virtual as the Paris-Caen. The success of the TGV has indeed given to the regions want to have "their" TGV.But the question of funding problem and use increasingly common in public-private partnership, a financing involving the state and communities in building a private group, is not a panacea.

After the festivities, Focus on the rail, a kind of rail Grenelle oragnisé by the Department, will again bring together industry players at round tables austere. Objective: To shape the future landscape railway … and give the French the prospect of other celebrations in the coming decades.

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St. Stephen was able to renegotiate certain loans: from toxics declined from 70% to 34% of its debt. But not all. Because in some cases, banks are asking the community to pay a cash adjustment to transform the high-risk loans in a normal loan. The principle of the balance is logical: the bank must be "compensated" as she would have received in interest rates high – up to 24% in Saint-Etienne with toxic loans.But its amount, which varies according to market conditions, may be prohibitive. "For a loan of 20 million, Deutsche Bank in early 2010 we asked a cash payment of fifteen million. It had no advantage for us, "said Maurice Vincent. Which concludes that most communities are in this case. The Court of Auditors number between 7 and 12 billion the amount of toxic debt, total debt of a community of 160 billion. The mayor of Saint-Etienne believes that the cash payment to pay to get out is now about ten billion euros, given the market conditions. Or communities can not afford to pay such a sum to get rid of loans at risk.Or more precisely, they could afford at the cost of tax increases – from 15% to 20% in Saint-Etienne after its mayor – and lower public spending.

"That's why I want the government set up a bad bank," concludes Maurice Vincent. This structure would take over the toxic loans communities, which would then be freed of the problem. This would be the banks that finance the bulk structure défaisande. And so that would take the loss. So far the government has been opposed to this idea. And the Court of Auditors as well.

Communities have, however, a weapon used today: the trial. Saint-Etienne sued the Deutsche Bank and RBS (Royal Bank of Scotland), including failure to board. The first verdict next year.And in the meantime, the payment of interest is suspended.

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For now, the bank declined to comment on its relations with the sovereign fund Leinad or Libya, says the Wall Street Journal. Societe Generale, however, said she has "worked occasionally with financial intermediaries in countries where it is not directly present."And these consultants are "fully selected and monitored in accordance with our procedures and ethics with the law and in full transparency with the customer," said the group, some have "acted in full accordance with the laws and regulations the sovereign ".

Throughout the reign of Colonel Gaddafi, it was indeed common for large groups pay foreign intermediaries, advisors and consultants to do business with Libya.

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The FIGARO. – What are your ambitions in terms of audiences for the group?

Remy PFLIMLIN. – The introduction of DTT has weakened the historic three channels and we have two. But France Television is not only judged on the hearings, as specified in the law. However, we must be the first French broadcasting group with our channel France 2, France 3, France 4, France 5 and France Ô. All must remain above the 30% audience share.

How do you explain the hearings erratic France 2?

For economic reasons, summer programs in France two were very different from those of the season. We have spent reruns and a program, "Five tourists" who have gone wrong. We dropped during the day and have paid cash. But with the return, the big appointment with Sophie Davant, Laurent and Stephane Bern Ruquier back.

France Televisions will invest 420 million euros in creation. Where do you get the money?

This amount represents an increase of twenty million euros a year. This is affordable in a cost grid for all channels 2 billion. To finance it, we will make arbitration on purchases and program flow.

You run one hundred new programs.Is it ambitious?

We offer 50 new programs on our five channels and 50 new regional programs of France 3. It is necessary to take risks because we absolutely need to innovate to install in the new period of strong brands as are a French village and more beautiful life.

Where's the advertising revenue?

We have budgeted 425 million euros in advertising revenue for the year 2011 against 440 million last year. In late August, we are still OK and I think we will hold the budget for the year.

You signed a contract with the State and sustain the revenue for five years. All can be challenged after the presidential elections?

We signed a contract objectives and resources with state ownership for five years on the basis of the strategic plan that we presented.For five years, the resources paid by the state are sustained and grow by 2 no teletrack payday loan.2% per year. In addition, our commercial revenues, advertising and diversification, we will be acquired. France Televisions thus acquires the necessary stability to build the company unique and long-term work with the world of creation. The company, the creators, the State and Parliament have an interest in maintaining that stability.

What is the social aspect?

We should sign in the coming days a collective agreement with the 2520 group of journalists and then we will negotiate the provisions concerning the technical and administrative staff, which represents 7,900 people. Over time, wages, hours and qualifications will be harmonized. This will have a cost but an investment that will pay off in productivity and simplified structure.In terms of attrition, which runs until 2012 and on 900 stations, we should see 550 starts, some of which permit and enable the recruitment of new skills including digital.

That represent the digital in five years?

The digital will be involved in the group. We will develop an information platform in November and another sports in spring 2012. Our role is to be an editor own content (information, drama, sport, culture …) that will become a commodity that we will provide all the screens. With the spread of television connected, it will be essential to have strong brands belong to us. Thus, we will not be dependent on American series to be broadcast directly by U.S. companies.

What is your position on the chains bonus?

On principle, I support the diversity of supply. On the economic front, although this is less about France Televisions, I note that many players call for a pause to allow to "digest" the introduction of DTT. With regard to the broadcast standard DVBT2, I have no principled position. But it is certainly worth, at this pivotal time, to ask any questions. For there is the issue of bonus channels, there are new channels announced, there is also the arrival of HD channels available. All this requires a resource that is often valuable, and called a real strategic choice. I look forward to the report of Michel Boyon.

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Earlier, the index feature of the Paris market was disappointing not welcome the publication of the second estimate of U.S. GDP in the second quarter. It rose 1% annual rate over the previous three months, said the Commerce Department, revising and down 0.3 points his first estimate of growth in the spring published in late July.Analysts had forecast a less pronounced rate revision, to 1.1%, according to their median forecast.

In Frankfurt, the Dax-30, very bumpy this week limit case and ends with a drop of 0.84% ​​to 5584.14 points after losing more than 3% in séance.À the London Stock Exchange, the FTSE- 100 finished virtually unchanged: it loses 0.02% to 5129.92 points.

Fed pushes to place an ad in September

Highly anticipated speech of the President of the U.S. central bank, Ben Bernanke does not reassure investors. In fact, Bernanke has pushed the September announcement of concrete measures to support the U.S. economy. The central bank is expected to meet more fully next month, he indicated, to "discuss more fully" in the policy.Ben Bernanke also called on U.S. lawmakers to take fiscal stimulus, saying they have more flexibility than the institution.

As for currencies, the euro lost some ground against the dollar after the speech of Ben Bernanke. Around 16:30, the European currency was worth 1.4359 dollars against 1.4441 to 15 hours. As for the oil markets, I Brent North Sea for October delivery was trading at 110.25 dollars on the Intercontinental Exchange (ICE) in London, down 37 cents, while in electronic trading on the New York Mercantile Exchange, a barrel of "light sweet crude" (WTI) for the same maturity lost 35 cents to 84.95 dollars.

In the euro area, regardless of major macroeconomic news.This morning, the companies manufacturing have revised their forecasts down slightly investment for this year and expect a 14% increase (against 15% previously).

The bank's head Cac 40, Peugeot sinks

Essilor International: -0.30% to 52.97 euros

Essilor International in the first semester a turnover of 2.06 billion euros, up 6.9%, the band announced via a press release issued in the edition of Les Echos to appear Friday.

Financials

The ban on short selling financial stocks on Thursday was extended to France, like Italy, Spain and Belgium, and the Financial Markets Authority (AMF) said it would review its position by late September.

This decision only briefly managed to reassure investors.If this decision technique to limit selling pressure on the sector, it does not address the fears that persist on European banks and their exposure to countries in need. After posting the largest gains of the Paris stock in early trading, financial stocks are once again very attacked: Societe Generale lost 2.82% to 21.33 euros, BNP Paribas was down 2.33% at 33, 56 euros, Credit Agricole down 1.41% to 6.419 euros while Natixis closed the show the worst performance (-4.51% to 2.686 euros).

In an interview with Le Figaro, the CEO of Crédit Agricole (-1.41% to 6.419 euros) said the group had "significant cash reserves" and "has no difficulty in financing" .

Conversely, other cyclical stocks, car manufacturers, will gradually take after opening the largest declines in the Paris stock exchange.Peugeot (-0.62% to 19.36 euros) which bought between 12 and 22 August last, about 2% of its capital amounting to 92,010,000 euros, folds to 2.03 %, to 19.01 euros. Renault wins its 0.46% to 26.32 euros.

Total: -0.73% to 32.5 euros

Total expected to present a reorganization in the fall of scale of its operations downstream, with a planned merger of its refining and petrochemicals, according to Les Echos, citing union sources.

As for oil, prices were mixed Friday morning during electronic trading in Asia, in a sluggish market, before the highly anticipated speech of the head of the U.S. central bank (Fed).In morning trading, a barrel of "light sweet crude" for delivery in October gave 10 cents to 85.20 dollars per barrel of Brent North Sea crude for October delivery took 19 cents to 110.81 dollars.

Note that APRR and Bel Cheese (1.24%, to 163 euros) will publish their interim results after market close.

While the U.S. economy slows dangerously, investors expect a tough response from the Fed. But they may be disappointed because, faced with two problems, the central bank runs out of ammunition.

Misdiagnosis

First, Ben Bernanke erred in economic diagnosis. He underestimated his own admission, the low growth in the first half and was counting on a rebound in demand in the second, which for now does not materialize.Problem with its main policy rate at zero since December 2008, the Fed has little room to revive again the supply of credit. Some members of the Monetary Committee refuses to go further. Among the reluctant, Richard Fisher, president of the Dallas Fed. It is estimated that on August 9 promises to continue until mid-2013 interest rates unusually low, the Fed made a mistake: the promise deters businesses and individuals to borrow quickly as they know that the rates are not nearly up.

So what can Ben Bernanke promised? The resumption of purchases of long-term bonds the Treasury is the preferred option by the markets. But given the high level of inflation, the method is risky.In addition, low interest rates leaves little hope that this new "quantitative easing" has a significant effect on credit supply.

Ben Bernanke should focus on technical measures. The Fed could cut the compensation of bank reserves. It would be a way to push banks to lend rather than storing their cash with her. The second measure seeks to change more or less gradually the composition of its balance sheet, which reached 2.7 trillion dollars. To maintain long-term rates as low as possible, the Fed may decide to increase the proportion of its balance sheet invested in long-term securities, while reducing the one placed in short-term securities. The decline in long rates will encourage companies and individuals to refinance their debts and support the real estate.