Whatever the final scope of the Franco-German compromise on a European recovery plan, a point is a virtual consensus: the European Investment Bank (EIB) will be further tapped. During his campaign, Francois Hollande has repeatedly cited the institution, explaining to want to see more funding for innovative projects. Chaired by a German, Werner Hoyer, the EIB has the added advantage of being compatible with the philosophy of Berlin in public finance.

Created after the Treaty of Rome, in 1958, this arm of the European Union acts as a conventional financial institution with its shareholders – the 27 EU member states – and its own funds – 232 billion – which it serves as collateral to raise funds on the market and in return grant funds to the public sector. In other words, an appeal to the EIB does not dig, as such, deficits in the area.

Finance ministers of Twenty-Seven will meet Tuesday morning in Brussels, the Governing Council to start work on the practical modalities of strengthening the institution. An exercise stress: no question that the EIB, currently rated "AAA" by the three major agencies, lose this precious document. Where applicable, the cost of refinancing is found in heavy and interventions become less effective.

Two schemes in the study

Request more loans the EIB is therefore to provide in return the appropriate funds. Two schemes are under consideration. The first is to rely on the EU budget. The idea of ​​bringing the Commission to the capital being strongly opposed by the Member States, the solution that emerges would be to use part of European funds as collateral for loans which would then be granted by the EIB. It is this pattern that has been adopted in Greece, for example where the Bank has committed to lend up to 1 billion euros for innovative SMEs from a guarantee of 500 million EU.

The second scheme – which holds the rope – is a mere increase of the EIB's capital, financed by the 27 shareholders. The magnitude of this increase would be about 10 billion euros, which would allow the EIB to grant 60 billion of loans that can generate around 180 billion investment, thanks to the leverage caused by the co-investment from the private sector. An overall figure on which refuses to engage the side of the EIB, "everything depends on the type of investment, leverage is stronger in the context of public-private partnerships in SME lending" says an official. However, the figure of 10 billion additional capital seems to be confirmed.

The impact is not negligible for the European states. The two main shareholders of the bank, France and Germany, which each own 16.5% stake, will write a check for $ 1.65 billion. And even if it is not, strictly speaking, additional debt, the stress on budgets is important. The talks between finance ministers will continue in the coming weeks, to stop a scheme before the European Council in late June.  

ALSO READ:

"Mario Draghi said its growth pact

"Recovery of growth: the ECB meets in Barcelona

"Soros:" Europe could only finance its stimulus "

It is a blow to Angela Merkel. German Chancellor has lost Sunday night for its closest ally to win against its European partners in managing the crisis of the euro. The defeat of Nicolas Sarkozy, she has supported all the way, is also a bit his. However, his political career attests: Merkel is good at adapting to new realities. It's been several weeks since his team is preparing for a possible victory of Francois Hollande. The Socialist no longer afraid to Berlin. His first phone call on Sunday night was to be for the Chancellor.

Francois Hollande was pretty irritated the Germans during his campaign by promising not to ratify the treaty in the state of budgetary discipline. The Socialist candidate would include a component of measures to support growth, including on the funding at European level of environmental or industrial projects. Merkel replied curtly that there would be no renegotiation of the text, regarded in Berlin as the culmination of his vision of a Europe steeped in the "stability culture" Germanic. Before making a small step towards Holland stating that the EU was preparing a "growth agenda" for the top end of June

Holland, who said he wanted to be part of the Franco-German tradition by making his first trip across the Rhine, is expected in Berlin this weekend or early next week, following his inauguration. It is expected to meet informally with the Chancellor of how to amend the treaty. Merkel wants to prevent the initiatives to support growth would delay its ratification. To circumvent the risk of isolation, she has already joined the Italian Mario Monti. And it seeks to gather around their tandem a significant number of twenty-five countries signed the treaty to ratify the text without waiting for France.

Berlin wants to believe qu'Hollande will find a "pragmatic solution", according to a memorandum of discussions between the team of the socialist candidate and German diplomats, quoted by the media across the Rhine. "Holland and his team want to be part of the continuity of the Franco-German working for Europe," said the note. For several weeks, Michel Sapin, author of the economic project of Holland, and Jean-Louis Bianco try to reassure the Chancellor through contacts with his closest advisers. On both sides of the Rhine, we want defuse "hiccups" that perfect storm of the euro, would be immediately punished by the markets.

Of "painful truths"

Merkel's entourage insisted on the red lines of the Chancellor. The introduction of Eurobonds is still a taboo in Berlin. As a stimulus to growth by an extensive program of public spending. Germany believes that its model of structural reforms is the role model for Europe. And she hopes qu'Hollande be satisfied with a symbolic boost to growth. For Berlin, the Socialist candidate's campaign promises are not set in stone. And he would realize that he will announce "painful truths" to the French early in his term. Germany feared above all that the arrival in power of Holland bury any desire for reform in France. And having to wear one at arm's Europe and the single currency. Holland "judge superfluous needed economic reforms, pension and labor market, laments the Bild newspaper in an editorial. The French economy unscrews. If Holland looks away, she will continue to fall. While Germany is alone without strong partner with a big question mark next to the euro. "

Somewhat reassured by his contacts with the Dutch team, led by Berlin is one hope: that economic realities and uncompromising market pressure will convince the French Socialist turning into a Social Democratic German inspired.

ALSO READ:

"Angela Merkel is concerned about the pressure of extreme

Safran, present in the aerospace, defense and security plans to recruit 6,000 employees this year, including nearly half in France. At a time when there is much talk of de-industrialization in France, the announcement sounds like good news. The group employs 60,000 people worldwide including 40,000 in the hexagon, also intends to maintain this rate of recruitment of three to five years, given the positive outlook for its three main divisions, says Philippe Petitcolin, CEO Sagem.

Widely open to the world, since it exports 80% of its business, the company remains firmly in France where she still makes 70% of its turnover. Since 2010, Safran has opened six plants in France, with an investment of 300 million and goes with an announcement in a few weeks Commercy in the Meuse.

The recruitment plan announced Monday by Safran is bound simultaneously to the development group and replacements (the average age is around 50 years), although the turnover is especially low, says HRD Jean-Luc Bérard . The net enrollment fluctuates between 500 and 700 people depending on the year. A figure that could improve in the future, to the extent that the departures are below the arrivals.

Tensions on the labor market

Safran, born six years ago from the merger Sagem-Snecma, search profiles foremost executives and engineers, representing 75% of new recruits in France payday loan no faxing. "We spend 1.6 billion euros in research and development and our offices are an important entry point for engineers," said Jean-Luc Bérard. But he admits that he faces "a tension on the labor market in most profiles," knowing that these graduates are courted by both the automotive industry, banking, insurance world, without forgetting its own competitors aerospace sector, Airbus chief among them is on a pace of 4,000 new hires this year.

To highlight the attractiveness of its careers and attract graduates, Safran has developed several tools: it hosts 1500 including all levels of alternating training and some 2,200 trainees. The engine also adds its relations with academia and high schools through a network of Ambassadors employees. "We have very close relations with more than thirty schools and several universities as Orsay, Pierre and Marie Curie or Bordeaux. However we absolutely need to build partnerships with education abroad, "says the HR manager.

ALSO READ:

"These engineers who play the card industry

"Occupation: high demand for executives in the industry

SERVICE:

"Job offers in France and abroad with Cadremploi

FOLLOW THE INSTRUCTIONS ON FIGARO:

"Twitter: @ LeFigaro_Emploi

General Motors and PSA Peugeot Citroen gradually reveal the content of their historic alliance, which is reminiscent of that between Renault and Japan's Nissan. If such comparisons seem indispensable for international car manufacturers, as the competition is tough, what about in terms of French jobs? "Better buy a Toyota Yaris produced in France, a Renault Dacia produced in Romania," Nicolas Sarkozy launched late January, as an example of the preference to "Made in France" to boost employment in France. Is it that simple? Not in the auto sector, meet Philippe Very and Emmanuel Metais *, professors at EDHEC Business School.

Emmanuel Metais Photo credits: © Hervé THOUROUDE-Mobile: 06 16 29 62 08 – Email: rvthouroude@yahoo.fr

This is the flagship of Nicolas Sarkozy proposal for education: pay 500 euros a month more teachers willing to work 26 hours per week instead of 18 hours. The president-nominee wants to fund the measure, in colleges and high schools, by 208 million of savings related to the pursuit of non-replacement of retiring in two in the public service.

To balance the accounts as well, should not more than 58,000 teachers choose to work 26 hours, calculated the Institute of the company, under Debate & Co. 58,000 teachers is 13% of … Still, the UMP did not specify whether all or only new teachers may opt for these 26 hours.

The Institute also evaluated the gross cost of the measure, before taking account of "one in two," using assumptions Directed Study (2 or 4 hours per class per week) and replacement overtime. The cost ranges from 148 to 295 million per year. In the primary, the institute estimates that, by their status, teachers will supervise the study hours without being paid more.

Institutional autonomy would cost it 330 million if a new package of € 30,000 was granted to institutions, or nothing if the budgets were redeployed. Finally, the institute says he can not quantify the cost of the provision of an office for each teacher.

ALSO READ:

"Sarkozy promises more teachers present 25% increase

"Sarkozy wants to upgrading the teaching

"Education: the great blur of the PS project

Gone is the political consensus that prevailed in France last year about the need to save Greece. Tuesday, the Socialist deputies abstained on two bills used to be validated by France on European Stability Mechanism (SPM). And Socialist senators will do the same next week. With 500 billion euros, MES must nevertheless serve from July, firewall Standing against the sovereign debt crisis in the euro area.

Socialists do not disagree that the SS as the budgetary stability pact European carrier with greater discipline on public accounts. And they consider that the MES and form a pact. This treaty "as it stands today does not provide strong commitment to growth," said Tuesday, Jean-Marc Ayrault, president of the PS group in the Assembly. A position in line with that of Francois Hollande, who wants to renegotiate the December European, to add a section on growth.

Heavier debt

"The refusal of the Socialists to vote MES is a serious fault which shows their bigotry," retorted Tuesday, Francois Fillon before the UMP group. Anyway, the MES should be approved by France, the Assembly, dominated by the UMP, having the last word on a left-wing majority in the Senate.

The MES is the latest tools devised to solve the debt crisis. It will function as the EFSF (European Financial Stability Fund), it will eventually replace: it will borrow in the markets and then help the troubled country. These are the European countries which will mean the MES in equity, to 80 billion euros. France will contribute 16.3 billion by 2017, including 6.5 billion this year. This will weigh down all our debt, which has already reached 1.7 trillion. And this bill is not isolated.

As part of the first aid to Greece decided in spring 2010, France has already lent directly to the country 11.3 billion on a commitment of 16.8 billion euros. Public debt has been weighed down by 11.3 billion.

France will contribute more importantly, valued at 23.4 billion euros, the second Greek rescue plan which should amount to 107 billion euros for euro area Member States. The hex will help the European Financial Stability Fund, which lends to States in difficulties with the guarantee of the Member States. Its borrowings weigh down the public debt. Because of all the commitments of EFSF on Portugal, Ireland and Greece, the French public debt should be weighed down by 38.5 billion. So that the total bill for France's aid to European countries in difficulty should go well beyond 50 billion!

ALSO READ:

"Greece: Europe is finalizing a plan to more than 350 billion

Wolfgang Schäuble has opened the way for the adoption, on Monday, a second plan with the European Union and the International Monetary Fund, amounting to 130 billion euros. But it is not private to lecture on the Greek government, while ensuring the Greek people of his compassion for the conservation measures that strike.

According to the Süddeutsche Zeitung, the idea of ​​establishing an escrow account for the interest payments on Greek debt, which was the German Government, should be held tonight in Brussels by the finance ministers of the euro area. Unlike that of a commissioner to oversee the implementation of rigor, to which Germany has given up against the outcry. However, in an internal report, the German Ministry of Economy casts a very negative effect on the progress of reforms in Greece and openly doubt it will be able to avoid bankruptcy. This will certainly complicate the ratification of the new aid plan by the Bundestag, scheduled for February 27.

Critical or pessimistic statements of German officials on the situation of the country have moved the Greeks and sharpened their sense of being imposed a European tutelage. Greek President Karolos Papoulias has himself condemned what he thought of "teasing" the German finance minister's struggle to stay in Athens for the euro area no fax payday loans.

"In front of aid, there is always someone who wants to get help, found Wolfgang Schäuble. We remain available for some time to help the Ministry of Finance officials to build a Greek tax system efficient. So far the offer has not been entered. "

"Compassion"

The German minister, who had been strongly criticized in Athens after claiming he had "serious doubts" about the validity of elections in April in Greece, he assured "sympathize" with the Greeks. "The vast majority of those affected by the reforms and austerity measures – and let me express once more my great respect for them – are nothing to do with the slow pace of reforms, the loss of competitiveness or inefficient use of budgets in the past, "he says.

And remember that the Greek minimum wage will be at the future "at about the same level as in Spain."

ALSO READ:

"Greece: relieved markets, Europe remains wary

"Greece: Merkel and Sarkozy put pressure

"The Eurogroup does not exclude a failure of Greece in March

Organic products seem immunized against the crisis. Last year, sales were nearly $ 4 billion euros, an increase of at least 10%, as estimated by the Bio Agency. A sacred performance. Over the same period, sales of consumer products (food and hygiene products) have indeed stagnated in volume, and increased by only 3% in value.

Despite prices 20% to 50% higher, organic products, which represent less than 2% of the food market, continue to attract consumers. However, they are less likely to try the bio. In 2011, 40% of French reported consuming at least once a month for organic products, when they were 43% in 2010 and 46% in 2009, according to a survey by the CSA institute. "In a crisis, the curiosity of consumers is less, recognizes Elizabeth Mercier, Director of the Agency Bio. But market growth in 2008, the year of crisis, was 25% and 19% by volume. " In contrast, 18% of those who consume at least one organic product a week they intend to increase their intake this year. "This allows us to expect a further growth of organic products in 2012," said Elisabeth Mercier.

More visibility on the shelf

"The potential of new consumer stays there, half the French having no problem purchasing power," said Didier Perreol, group president Ekibio (Priméal, Bisson, My life without gluten?), Which states that Organic consumers are mostly from the wealthier classes.

"The market continues to grow as a supply effect contributes mechanically to increased purchases," says Isabelle Senand, author of a study on the bio for Xerfi. This is the result of the number of openings specialized brands (Naturalia Biocoop, La Vie Claire?), Pioneer of organic and enlargement of the assortment in supermarkets and hypermarkets. Today, 10% of milk sales are conducted in organic section, over 15% of sales? Eggs but only 6% of sales of fruits and vegetables. Last year, innovations in the organic section have increased among the national brands, ham Fleury Michon Pom'Potes Materne to Mont Blanc.

"The distributors have established themselves in this market with their brands and national brands, explains Isabelle Senand. All signs now have their own organic brand, which is largely the democratization of the market. "

The price gap has in fact reduced in grocery, fruit and vegetables or dairy products. "In five years, our prices are down 15% due to higher volumes, which allowed us to increase productivity," says Daniel Tirat, CEO of two cows, the brand of organic yogurt from Danone, the second mark market.

In three years, the market for organic fresh dairy products has doubled to 100 million euros. "We are in a logical recruitment of consumers, two thirds of our buyers who have never eaten organic yogurt, adds Daniel Tirat, which will test next month at Monoprix sales of butter and cream The two cows. We need the bio is even more visible rays. "

ALSO READ:

"Naturalia extends its network of stores in the province

Committee for the Six Nations, the puzzle of the new date of the France-Ireland postponed last Saturday, should be completed tonight. This is not the case of French Rugby Federation (FFR), she also faces the unpleasant consequences of the postponement at the last minute of the match on the second day of the Six Nations tournament.

And for good reason: about 78,000 spectators, with the majority of them paid for their seats, were present in the stands Saturday night. In addition to travel expenses and accommodation, went up in smoke, they had paid to enter the Stade de France between 36 and 110 euros for the major shows of European rugby. "The general conditions of sale do not provide reimbursement for these tickets, it says in the FFR. However, the different parts (FFR, insurance, Consortium Stade de France …) studying the subject and the possibility of compensating the injured fans the most. " If the hypothesis of simple reimbursement of tickets for spectators unable to return seemed logical at first glance, it is not acquired at all.

Necessarily financial compensation pa

If the game is postponed from this Sunday, it will be difficult for the FFR, lack of time to fill the shortfall by the potential resale of tickets redeemed. In the event that the Committee of Six Nations would choose the date of March 3, the leeway to the FFR to re-market these tickets would be wider … and could therefore support the decision of any reimbursement, in whole or part , tickets. The Federation also confirms that no final decision will be taken before choosing the new date, but an official communication will be made on the site of the FFR, when setting the terms of any repayment online payday loans. It also emphasizes the study of "compensation, not necessarily financial supporters the most affected." In case of default, there are still more likely that the fans away from Paris trying to resell their tickets on the black market.

A weekend in 1000 euros for two

In addition to sporting disappointment, the financial damage is also for fans of rugby. Mainly for the fans from the south-west, but especially Ireland. For the latter, the cost of the weekend in Paris often resort to over 1000 euros for two people.

Another player injured by this fiasco: France Televisions. Often questioned, as her sisters, to put pressure on the maintenance of programming events to large audiences, the public broadcaster said, however, have fought to advance the game in 15 hours. Without success. Cost of operation: 130,000 euros, according to Daniel Bilalian, sports director of France Televisions.

Finally, in the Stade de France, the loss is more difficult to assess. According to the task, the final match between France and Italy on February 4 was generated € 1.5 million profit, and a recipe for 300,000 euros for the FFR. The France-Ireland being postponed, not canceled, the loss on the sale of products, beverages and other sandwiches should be controlled.

ALSO READ:

"We would have liked to play

"The postponement of the Ireland-France scandal

"" Comforted in our great stadium project "

In September, it is the purchase of textile-leather and energy costs which have lowered consumption. These expenditures have dropped respectively by 4.7% and 4% last month, a much greater decline than in previous months. For the textile sector, the wrong number "announcement of hard times," Judge Camille Williencourt, an economist at Natixis. It points out that consumption fell by 17% in this sector since the second quarter of 2007.A sign that the industry "is recovering gradually, after a very poor second quarter impacted by the decision of the cash for clunkers," said Camille Williencourt payday loans for bad credit.

INSEE had Tuesday reported an unexpected improvement of consumer confidence in October. Indeed, they are much less likely to anticipate a rise in unemployment – although the statistics published this week have reported a record high – and are optimistic that this summer on their future standard of living. Other anticipation apparently bodes well for the consumption of the end of the year, they were also more likely to feel the need to make major purchases. But despite these positive developments, "consumer sentiment remains generally depressed, said Helene Baudchon, economist at BNP Paribas, well below its long-term average of 100."