The virtual stagnation of 2008 is largely to the credit of the state civil service has continued to decrease in population from 2006. It has eliminated 77,000 jobs last year, including through non-replacement of a staff of two who retire and to continue the policy of transfer of powers to local authorities. This represents a decline of 3.1% of its workforce in a year.France, employs 2.4 million civil servants, 69.5% and 14.1% of holders of soldiers. This total is 1.4% lower than in 1998, representing a decline of nearly 35,000 agents in a decade.

The numbers have declined in 2008 across all departments, with the exception of Justice and the prime minister. The portfolios of Education and Ecology have been most affected by the cuts with cuts respective 43,000 and 23,000 agents. Finally, almost a two-state official now works in education, one in five of Defense and Interior to eleven.

2328euros per month for a state agent

Another finding of the report 2009-2010 on the state of the public service: local authorities have continued to recruit with a vengeance with nearly 70,000 new jobs in 2008.The local civil service now employs 1.82 million people. A total of 3.9% higher than in 2008 and, especially, a surge of 40% compared to 1998. This dramatic increase is partly related to the second law of decentralization occurred in 2003. The regions – which employs only 4% of all local officials – have been particularly intensive public sector jobs as they saw their numbers jump over a decade, from 22.5% on average each year and even 49% per year since 2005. In more than one in four cases, recruitment occurred three years prior to 2008 had nothing to do with transfer of responsibilities from the State.

The public hospital has, meanwhile, was more reasonable since the increase of its workforce in 2008 was four times lower than that of local authorities: 1% over one year or more 10000agents.At December 31, staff of public hospitals accounted for approximately 1 million people. Those numbers have increased, on average ten years, 1.8% each year.

Pay later, an officer of the state received an average of 2328 euros net per month in 2008. An increase of 3.7% in current euros a year and 0.9% after allowing for inflation. Territorial Agent earned nearly 600 euros less and a hospital, 150. In both cases, the territorial and hospital officials have seen their wages decline in net income a year, by 0.6% and 0.1% in constant euros.

ALSO READ:

"An official ruled four months for a pamphlet

"The wages of the public in 2011 frozen

"Performance appraisal removed

BMB Group has denied reports Sunday night in a statement."The BMB Group is in discussions with any officer or shareholder of Club Med as suggested by the Sunday Times article, it says Harold Alby, a spokesman for the group totally free credit score.

At the same time, nobody wanted to comment at Club Med. The Sunday Times, BMB Group has already the support of three of the four major shareholders of the group chaired by Henri Giscard d'Estaing (Chinese Fosun, GL Partners hedge fund and investment company Rolaco), and finalize it this week discussions with the first of them, Fipar International, a subsidiary of Caisse des Depots and management of Morocco.

ALSO READ:

"Fosun, the Chinese group that believes in the concept of Club Med

While the government expects growth of 2.5% in 2011 as in 2012, Christine Lagarde, who was Sunday guest of Grand Jury RTL-LCI-Le Figaro, said Bercy maintained that figure. "It is perhaps a bit daring.But this does not mean that I do not think so because when we have breaks in growth, as we had last year, it rebounded the following year generally stronger than that which was anticipated, "Christine Lagarde has justified, that speaks of" a spring that tightens "…

Nevertheless, "it is too early in the year," to decide to revise the forecast, says she. "Wait and see the results of second quarter results that I hope good." The growth figure for the second quarter will be published in August.Traditionally, this publication – which comes in full preparation of the draft budget law – leads to changes in assumptions of growth for the next year payday loans.

Commitments savings firm and final

If she wants to be proactive, Christine Lagarde, however, not only closes the door to such a review. Paris will pose the question "to fall," said the minister.

This will be a real challenge for public finances. For the equation becomes perilous Paris counts on the 2.5% growth to get him some 35 billion euros in tax revenues to enable it to meet part of 100 billion euros that represents a return to 3% deficit in 2013.If it is not there you will have to find more savings.

One thing is certain: "The commitments we made in terms of economy of expenditure and intervention are firm and final," said Christine Lagarde.

In short, the government must conduct a struggle of economic policy. Christine Lagarde, who just celebrated three years as head of the Department of Economics, said he was ready to continue to assume. While circulating the idea of a reshuffle in September, "it is the President of the Republic to decide what the best players at the right time. If I am useful for the France team, I am available to the Prime Minister and the President of the Republic. Has it Matignon in sight? "Certainly not! Answered Christine Lagarde. The French economy and employment deserve I spend all my energy. "

Attorney Philip Bourion: "Who do you think is guilty?"

Catherine Lubochinsky, witness: "They are all guilty! The internal control of Societe Generale did not work. "

The pithy statement sums up the impression left after two weeks of debate – will resume Monday morning. On the one hand, the defense of the former trader is reluctant to admit that the bank "knew everything" of its investments delusional. Suppose that after the first coup win € 500,000 in 2005, the young daring to be seen gently lectured and implicitly encouraged to supplement his income by marauding on land more profitable than its cushy turbo warrants.

But how can we believe for one second that the SocGen has been tacitly approve of Mr. Kerviel is 49 billion euros, or one and half times its equity, as a builder who wants to elevate a building, while undermining its foundations?

Similarly, if the bank "knew everything", the name of what bounty would she let her trader-playing with the kamikaze 1.4 billion by some miracle he had won in December 2007, at a time – crisis subprime – where the cash was missing around the world?

Mixed results in terms of image

Jerome Kerviel's lawyer, Olivier Metzner Me, excels, however, in another field. While the client is regularly scolded by a president Pauthe excellent and witty, he revels in the main plaintiff tease – the bank.

Sunglasses nose, in the proper dress casually maker unbuttoned, one hand in the pocket, it is amusingly sly when his client is woefully stiff. This significant mob, which grows out of court a look Churchillian (cigar, no doubt, "no sport") reveals an unexpected gift for comedy courtroom upscale. And when questioning a witness, there is no lack of pacing responses of "agree" sound, which are seen as the architect of an alleged consensus: according to Ms. Metzner, everyone knows that the bank knew everything.

This assumption and the provocations of his zealot infuriate the advice of SocGen, My Jean Veil, François Martineau and John Reinhart. The first, known for his character, say, entire, up to the net to return the smashes grinning defense. So he endorses the range of fatally bad, who is never "agree".The roundness of the old, somewhat obsequious, from Mr. Martineau, and the projections more or less come to me Reinhart are supposed to smooth the image that ill becomes belligerent to a victim.

Result: a judicial perspective, the SocGen, which accuses the defendant not without arguments for having lost 4.9 billion euros, is in apparent position of superiority. Mr. Kerviel acknowledged Wednesday that he had committed the acts he is charged and for which he faces five years in prison. The weakness in his defense is a question: if "everybody knew, why he invented large-scale fictitious transactions to conceal his real positions, as well as earnings losses?

But in terms of image, the picture is more mixed.The refrain of "all guilty", which floods the Internet to which Professor Lubochinsky Thursday offered a providential respectability for the defense, made his way. Whatever the outcome of the trial – there is a week of discussions – the SocGen not willing to spend for naïve or incompetent: the victim must also face prosecution in international finance.

ALSO READ:

Jerome Kerviel admits to having produced false

For his boss, Kerviel was a "criminal behavior"

"Kerviel: Societe Generale could not not know"

Shouting "not only on our shoulders," they denounced the sacrifices imposed by the government of Silvio Berlusconi to reduce the public deficit from 5.3% to 3.9% next year and 2.7% of GDP 2012.

At a rally Piazza del Popolo, Guglielmo Epifani, Secretary General of the CGIL, reiterated that his organization was not opposed to a correction of the accounts of the state. "We reject this maneuver only made budget cuts without structural reforms or measures to support investment, particularly in public education and research," he told Le Figaro before the start of the event."Those who will pay for will mainly employees and the lowest incomes while wealth and annuities will not be affected."

Guglielmo Epifani also calls for a broad mobilization to invite the Parliament, which will begin consideration of the bill next week, "to modify".

The CGIL has launched on June 25 a word of general strike of four hours in the private sector and the public 24 hours.

For its part, the Democratic Party (PD), the main opposition, has announced a rally against the plan "unfair" in Rome June 19 while magistrates, public sector doctors and world culture multiply protests.

The government plans to freeze wages and hiring in the civil service for two years and 10% reduction in the allocation of ministries and local authorities.No new taxes would be raised and the taxation of financial income would continue to benefit from a preferential rate, but a greater effort would be made against tax evasion.

For the Bank of Italy, the austerity plan could result in a reduction of O, 5% of GDP in 2011/2012 "as a result of compression of consumption and investment." Italy expects a growth of 1% this year and 1.5% in 2011.

Events in Germany

Protests against the rigor were also held in Germany. Between 15,000 and 20,000 people marched in Berlin, organizers said. And between 10,000, according to police, and 20,000, according to organizers, Stuttgart.

The German government announced Monday an austerity plan of 80 billion euros by 2013.He wants to save 11 billion euros in the budget 2011, including through budget cuts in military spending and social.

ALSO READ:

"Everywhere in the world, the administration in the diet

At the finish the CAC 40 plunged 2.86% to end the session very much below the threshold of 3,500 points to 3,455.61 points exactly. On the whole week in Paris index shows a decline of 1.7% bringing its losses since the beginning of the year to more than 12%.

Reflecting investor nervousness, activity was sustained, with almost 5 billion euros traded on the great values of the Paris stock exchange. Other stock markets in unison dévissaient London lost 1.63% and 1.91% Frankfurt, Milan and Madrid 3.79% 3.80%.The Euro Stoxx 50 index dropped 3.20%.

Investors skeptical of increasing the strength of economic recovery plans for fear that strict hindering growth, obviously await any excuse to sell. They took advantage Friday of a disappointment on the job market in the United States to pass the act.

The euro under $ 1.20

In the U.S., unemployment fell in May to 9.7%, but the net new jobs (431 no teletrack payday loan.000) were significantly worse than expected. The NYSE has also reacted badly to this statistic, always closely watched by the markets. Wall Street was changing rapidly decline with the approach of the close of European stock exchanges. The Dow Jones lost 2.16% and the Nasdaq 1.80%.

In Europe, a new front in the crisis began in Hungary.The local currency, the forint, the Budapest Stock Exchange, and covers the failure of Hungarian debt (CDS, credit default swap) tumbled after the alarmist statements about the economic situation on the part of politicians, from the majority place.

Those fears pushed investors to the traditional safe havens like the dollar or Swiss franc. And for the first time since March 2006, the euro fell below $ 1.20. In Paris, financial stocks were once again the front line. Societe Generale lost 7.5%, BNP Paribas and Crédit Agricole over 5%.

According to the Thursday edition of The Wall Street Journal, "the Board of Directors of Continental met Wednesday and has scheduled another meeting on Friday (the day, Ed)" with United, citing sources familiar with the matter.

Two years after failing in their negotiations – the two groups did not agree because of unions and integration costs – United and Continental, whose bosses have always wanted to participate in the movement of Contraction sector, would now be on the same wavelength.

These last two weeks, the talks resumed but opinions differed on how the modality of trade action.

U.S. leadership to

This union intervendrait and only one week after the breakdown of negotiations between U.S. Airways and United Airlines. If the proposed merger between Continental and United Airlines led the new group would become the U.S. leader in the sector, ahead of Delta Airlines, with a market capitalization of over $ 6 billion.

It remains to be seen whether the authority will accept American competition this marriage Guaranteed unsecured personal loan. For who says merger often said job cuts and higher fares.What politically wrong.

A refusal has been lived to its reasons for U.S. Airways and United Airlines, almost 10 years ago, when they had proposed a reconciliation.

A need for synergies

While the sector has experienced in 2009 "the worst year's ever known industry, concentration is a single best way to achieve synergies and economies of scale.

The North American companies have suffered a loss of 3.1 billion dollars last year, according to the International Air Transport Association (IATA).

For 2010, although the estimates have been reported by IATA, the performance accrue largely to companies in emerging countries (Asia and South America), while companies in North America and Europe still would suffer heavy losses, the about 1.8 billion dollars for the former and 2.2 billion for the latter.

ALSO READ:

"Air:" The recovery is not affected "

"FOCUS – The companies make up between unanticipated shocks and winds concentration

Twelve French refineries are losing "150 million euros a month" since March 2009, and the industry continue to suffer in 2010. The closure of the site Total to Dunkirk, which alone accounts for 13% of the French ability, do not change much, according to Ufip, which dealt with the topic at European level.

"This is not the closure of a refinery in Europe that will be enough to restore the situation," says Jean-Louis Schilansky. It should delete "7 to 8 million barrels per day, or about 10% of installed capacity in Europe."In other words, on the 114 European refineries, "a half" should be closed to restore the balance between supply and demand.

Shell reported a loss of $ 1.7 billion

In France, controls oil products fell by 2.8% in 2009 and nearly 9% in ten years. The economic crisis is not the sole cause of this decline free credit score . Consumers roll than before, and prefer diesel to petrol. Furthermore, the refining overcapacity and inflation of the multiple requirements of ecology and safety is increasing pressure on margins. In this context, the French oil industry does not want to hear about carbon tax."If, in this very difficult situation, we add a layer, it will be worse here," warns Jean-Louis Schilansky.

Total is far from the only group to suffer in oil refining. The U.S. Exxon announced last week a loss of 189 million dollars in this activity in the fourth quarter of 2009. BP just to break even on this trade. Shell yesterday announced an annual loss of $ 1.76 billion in its refining division. This is the "worst crisis" for this activity for twenty-five years, and it does not end in 2010, warned Peter Voser, Shell's CEO. The British giant is planning to sell or close 15% of its portfolio in refining.

ALSO READ

"Total closure differs from Dunkirk

»Total: State careful closure of Dunkirk

Markets were awaiting major publications in the United States. Around 12 o'clock, the President of the United States, Barack Obama has proposed a 2011 budget of 3.834 billion dollars. The White House said Monday that the draft budget for next fiscal year (October 2010-September 2011) showed a deficit of 1.267 billion dollars, down 19% due to higher expected revenue.In the afternoon, indicators follow overseas spending and household income for the month of January (1430), construction costs for the month of December (16 hours), the ISM index of manufacturing activity January (16 hours) payday loan . On Friday, the U.S. GDP figures for the fourth quarter, came out up 5.7%.

The results season of American companies continues its course on Monday with those of Exxon Mobil, the world's oil.

In France, prices for production in French industry decreased by 2.9% in 2009, a decline limited to 1.3% for foreign markets, according to figures released Monday by the INSEE. In all markets (French and exports), the producer prices are down 2.4% a year, says the National Institute of Statistics.In December 2008, prices remained stable (0%) in the industry for the French market.

Sales of new vehicles surged 14% in January by the Committee of French manufacturers (CCFA).

Side currencies and commodities, oil off again on the rise (+0.22% to 73.21 dollars), while the euro strengthens against the dollar (+0.25% to 1.3899 dollars).

The detailed values to follow

Around 7 o'clock GMT (8 hours in Paris), the euro bought 1.3945 dollars against 1.3966 Thursday about 22 hours in New York. Against the yen, the euro retreated Friday morning at 125.44 yen against 125.56 the previous day. The dollar was stable against Japan's currency to 89.96 yen against 89.92 yen late Thursday.

Investors worried about the situation in Greece, through the worst crisis of its public finances over the last thirty years, with its explosion of deficits and debt business card