Current News Headlines

It is a page in the history of Paule Ka, the ready-to-wear clothing, which has just been turned. Serge Cajfinger – President, Artistic Director and founder of the brand there are twenty-three years – and his family transferred control of the company to an investment fund Change Capital, which specializes in retail and consumer goods . Serge Cajfinger, 56, remains in control, but keeps his family that 30% stake in Paule Ka, known for her dresses inspired by fashion icons of the 1950s and 1960s.

Change Capital's arrival also marks the start of the Deposit, which held 17% of the company since 2007 through one of its funds, Heritage and Creation.

It is a success story in the French-Change Capital, which was a shareholder of the Jil Sander label and distributor of garden furniture Unopiu 'adds to its portfolio."Paule Ka dresses women 25 to 55 years, both for work and special occasions, combining a quality worthy of the luxury and affordable, says Stephan Lobmeyr, Partner at Change Capital, created in 2004 by Luc Vandevelde , former president of Carrefour and Marks & Spencer. There are not many brands with such a position and grow as regular "/

The brand, which has weathered the crisis with no air pocket, grew by 17% of its turnover (40 million), related to sales of its own stores (8 stores) and the acceleration of its order book from the department stores (29 outlets) and multi (370).

Ségolène Royal in 2007

The new majority wants to move up a gear. In the provinces, he intends to develop the number of stores as in large cities.In Paris, where the brand was born in the Marais district, opening in 2007 of its flagship on Rue Saint-Honore has given greater visibility.

As for the international Paule Ka is present in 53 countries, it could be within five years 65% of sales, against 50% today. Leaders and are working on a new shareholder settlement in the United States with the opening of a shop in New York within a year. They would be well set the mark on Madison Avenue."In countries where we are not yet present, we are entering a flagship, and we aim to grow between 50-50 own stores and multibrand," said Anthony Bing, deputy general manager of the company.

In China, another key market for the future, Paule Ka has signed an agreement with a franchise partner, the Hengdian Group, which plans to open 14 corners in the first five years and a shop by the end of the year Hangzhou, two hours from Shanghai. In Asia, the brand – who dressed Ségolène Royal during the last election – has already attracted the fashionistas in Hong Kong, Singapore and Japan. In Europe, the company hopes to double its number of stores as the next five years, starting with a location in Madrid in September. By broadening the territory of Paule Ka, Change Capital aims to double sales of the brand by 2016.

Rain of bad news and stock prices in free fall: the equity markets reconnect with painful memories of that week. The day after a heavy fall session, the Paris Bourse continued to tumble Tuesday. The listing of the CAC 40, which was no longer available since 9:56, due to technical problems with NYSE Euronext seeks to determine the cause, took over around 1:35 p.m.. To 14h, the index was down 1.19% to 3762.10 points. The Paris index is so close to its lows of the year (3,696.56 points on March 16).

On other European markets, some markets reduced their losses: Milan fell by 0.50% in mid-session, Madrid from 1.47% and the London Stock Exchange fell back to 1.55% and Frankfurt 2.09 %.

On both sides of the Atlantic, countries are faced with concerns about the level of debt.In the eurozone, fears of contagion from the debt crisis, with Italy in its sights, spread. European finance ministers are trying to reassure the markets and say they want to "preserve the financial stability of the euro area" and "resist the risk of contagion" said the head of the Eurogroup Jean-Claude Junker. But after a meeting that had at a crisis meeting, the central bankers do not scaffold new plan. A lack of concrete severely punished by the markets. I

They however expressed their readiness to increase the size of the Emergency Fund financial.They are also considering a "lengthening of maturities of loans" made to allow more time for countries struggling to pay to reduce the interest rates of loans to Greece.

Meanwhile, the Portuguese economy expected to contract by 2% in 2011 and 1.8% next year, partly because of the austerity program that the country has committed to implement in exchange for financial assistance international, according to new forecasts from the Bank of Portugal.

And the problem of sovereign debt is a concern across the Atlantic. The U.S. president, however, has indicated a willingness to compromise, particularly on reducing the budget deficit.

As a result, the euro accentuated its losses against the dollar Tuesday, falling to levels seen for four months.Around 11:00 in Paris, the single European currency was worth 1.3930 dollars against 1.4029 dollars the night before.

Inflation and rising Livret A

The consumer prices in France rose 0.1% in June as in May, according to the National Institute of Statistics, an increase that has immediately led to an increase of 2 to 2.25% rate remuneration of the Livret A. Prices over the year were up 2.1% (after + 2%). Excluding tobacco, the increase is the same.

Rising prices of consumer goods in supermarkets rose 0.4% in June, after rising more pronounced 0.7% in May, INSEE said on Tuesday in a statement. OPEC will release today the release of its monthly report.In the U.S., we know the trade in May (1430) and then comes the publication of the minutes of the last Fed meeting (20 hours).

Banks in trouble

The sharp fall of the European banking sector marked a break in the late morning Tuesday, but this improvement technique does not dispel investors' fears of contagion from the debt crisis in Italy or Spain. A Credit Agricole, which fell nearly 5% to 2.33% leaves the opening in mid-session, followed by BNP Paribas which yields 1.32% and Societe Generale was down 0.92%. For his part gleans Natixis 0.40%. The conclusion was the same in Europe with a major Stoxx European banking shares down 1.39% against 5% at the close Monday.

Carrefour lost 3.56%.The group met with a setback in Brazil: the government no longer supports the project Carrefour to approach the local distributor Pao de Acucar, while the Brazilian National Bank for Development has agreed to support the funding. The transaction is challenged by Casino, already a partner of Pao de Acucar, which opposes the merger of the latter with its rival.

The title of the French car rental company short Ucar evolved sharply down on Tuesday for his first day of trading on the Paris Bourse, in a context of very difficult market due to the crisis in the eurozone. At 12:00, Ucar lost 5.31% to 14.1 euros.

In addition, Christophe de Margerie, CEO of Total (-1.8%), was "summoned" to Bercy by the Minister of Economy, Baroin. The goal is to take stock of the evolution of fuel prices. "A study published by Le Parisien suggests that oil tankers are quick to pass on price increases at the pump, which is less true for the declines.

Vivendi (-1.35%) may waive the tax Consolidated Global Profit, writes Les Echos newspaper Tuesday.

Publicis (-1.25%) announced Monday the acquisition of a controlling interest in the advertising agency DPZ, based in Sao Paulo.

Bull after falling 1.52% expressed the signing of an agreement with Carmat, designer of artificial heart, for the development of equipment for carrying artificial heart. And that's the whole electronics sector that folds.

For its part, the title of his new partner earns 7.83%, to 183.10 euros, having announced Carmat a capital increase of EUR 25.5 million.The operation is primarily intended to fund clinical trials in humans and manufacture of prostheses, for a first commercialization in 2013. The total artificial heart specialist has also submitted its application for authorization of clinical trials with the French health authorities (AFSSAPS). If approved, Carmat realize the first implantation in humans before the end of the year.

A consortium of six companies led by EDF EN, a subsidiary of EDF (0.43%) Monday formalized his candidacy for the tender that the French government has launched for offshore windEEN has partnered with Dong Energy, Nass & Wind Offshore Poweo ENR, wpd Offshore and Alstom.

Icade announced the signing of a put option for the purchase of seven clinics belonging to the private hospital Medi-Partners for $ 233 million.

ALSO READ:

"Obama promised a deal on debt by August 2

"Italy's European stock markets panic

"Italy is the new target markets

"Euro zone: Europe and the IMF play the appeasement

The Court of Justice of the Republic (CJR) announced Friday it had postponed to August 4 decision to initiate or not an investigation of the role played by Christine Lagarde in the case Tapie.

"One of the members of the commission has indicated that he was later forced to recuse himself," said Gerard Palisse, president of the petitions committee of the Court. This is Laurence Fradin, magistrate at the Court of Auditors and wife of Pierre Joxe, former Socialist Minister of Defense and the Interior of François Mitterrand, as was Bernard Tapie. Judicial source, the judge cited a possible conflict of interest.

Gerard Palisse stated that "the alternate member of the Court which could have us make up for his part that he himself was unable to do so immediately without prior knowledge of the case.The Committee decided to defer consideration of this matter Thursday, August 4. "

The survey would be long

The former Minister of Economy and current executive director of the International Monetary Fund (IMF), is suspected of "abuse of authority" in the arbitration in July 2008 on the case Tapie, Credit Lyonnais on line pay day loans. The businessman, who felt cheated after the sale of Adidas in 1993 with Credit Lyonnais, had obtained 285 million euros of public funds.

In May, the Attorney General of the Supreme Court, Jean-Louis Nadal, asked the petitions committee of the RGC to investigate the matter. He specifically criticized Christine Largarde for choosing private arbitration, but also refusing to appeal against the award, while the number of specialists are encouraged.If the Court decides to initiate the investigation, it should be long and Christine Lagarde would not be considered for several years. The new leader denies IMF, meanwhile, abuse of authority in this matter and have provided "clear conscience".

ALSO READ:

"GRAPHIC: Understanding the business Tapie, Credit Lyonnais

"Tapie case: the threat of an investigation continues

"Tapie case: what awaits Christine Lagarde

Eighteen months after the initial concerns about the European debts, the situation on the old continent is still fragile. However, the euro remains surprisingly strong. The euro hovered around $ 1.45 since April, and rose more than 8% since the beginning of the year, and 15.5% in one year. "The first explanation that justifies the euro strengthens and weakens the dollar is in the interest rates: in Europe, they are likely to be faced by the ECB on Thursday, reaching 1.50% while those U.S. Federal Reserve and will still remain long remain between 0 and 0.25%, "says Bruno Rodier, private banker and portfolio manager at Pictet & Cie.This differential rate encourages investors to take advantage of the "carry trade", this technique to generate returns by borrowing in dollars at a rate unusually low, and place it in euros, which pays better.

"The situation should not change in the coming months because when the European Central Bank has the sole purpose of containing inflation by raising interest rates, the Fed also has the task of supporting growth and employment and maintain long-term rates low and a weak currency to do so, "said Harry Sebag, an analyst at Saxo Bank.He said the Fed will not change its monetary policy anytime soon because it looks especially the real estate market across the Atlantic, the one who caused the economic crisis and financial crisis in the summer of 2007, which is still not out business.

The dollar is kept artificially low

But even more than the strengthening of the euro, especially on the weak dollar that the experts agree. And has been a little more than a year: the Fed announcement as it injects new astronomical quantities (600 billion) dollars in the global economy. Instantly, the dollar lost its value against other currencies, and the effect lasted until now."There is also the effect 'end of world supremacy' of the dollar plays, including the report of the World Bank has recently anticipated that by 2025, that is to say tomorrow, the market currencies will be dominated also by the Chinese yuan, not only by the dollar and the euro, "notes Vincent Juvyns, strategist at ING IM cash advance no fax.

The role of the dollar as the global benchmark fading as global governance wants to reform the international monetary system. In this perspective, little by little, investors include the future landscape of the exchange market and exchange their dollars into yuan and euro. "At the same time, we must take into account the cultural dimension of geographical areas: Europe, under the influence of Germany was a culture of rent, we want to keep a strong currency.This contrasts with the current pattern of currency war, which is to artificially push down its currency to promote its own foreign trade, "said Bruno Rodier.

Europe is going less badly than the U.S.

Finally, if Europe goes wrong, it will hurt less than the United States. Bad news on the macroeconomic front here and on the other side of the Atlantic, lower the respective currencies, but the U.S. figures are still worse than the European data, the dollar fell more than the euro. So the euro / dollar rate goes up anyway. "If you took away the effect debt, the euro was trading at least $ 1.50," Harry Sebag plans.Recently, the growth forecasts for the European Union were found, while those for the United States have been degraded.

Thus, the twists in the case of Greece, or fears of contagion from the crisis of sovereign debt of countries in the euro area peripheral to Italy or France, they have had little effect on the euro itself. "The currency market is highly sensitive to very short term. But in the coming weeks, the scenario of an outbreak of the euro area remains the least plausible of all, "says Vincent Juvyns, underlining that" challenges remain whole in the longer term. " The markets seem optimistic about the ability of European governance to agree to find solutions to problems of public finances of member countries."And Nicolas Sarkozy, Angela Merkel, and Jean-Claude Trichet has always reassuring words to soothe the markets when tensions rise," added the expert.

ALSO READ:

"" The Battle for the euro is essential "

"The yuan is becoming and is evaluated

No waffling. The Paris Air Show is clearly a prime target for terrorists of all stripes. "The means are enhanced this year given the international context," admits Gilles Fournier, director of the show. Everything is made to ensure that nothing spoils the biggest party in the aviation world. The device, classified top secret, similar to that established for a G8 or the movement of a Barack Obama in Normandy. But the BBC is able to detail some components.

The government and relevant ministries including Defence and Interior, make available to the people living in 2000 to carry out missions of security, air traffic management, protection of public figures and the public. In total, no fewer than 45 state departments are present. Le Bourget hosts a control center.This PC has 80 permanent crisis covering all areas: safety, security, public order, land and air circulation. Protection services and intelligence are also at work, the DCRI provides security industry while teams of HPPD (protection service VIPs) are deployed French and foreign. At least 50 cameras monitor every corner, while ground crews are based in the crowd of visitors. Officially, no foreign intelligence service is present on the site but "it is well known that the Bourget swarms of spies from all over the planet," says one industry.

A public prosecutor is always present on the site in order to treat all topics: crime, air accident, fire or bombs … "We conduct rehearsals of all scenarios.In a crisis the PC can trigger the red plan, "said Gilles Fournier. The show requisition, order of the prefect, a representative of the Association of radio amateurs (ADRASEC). "If everything is cut and the saturated mobile is the ultimate way to help to communicate with the outside," says the executive director of the show.

70 hectares to monitor

Mobile police squads roam the 70 acre site while the Air Force ensures its protection Air Show. A special device for aviation security (DPSA) is deployed in order to "put the Bourget in a protective bubble" without disrupting the airports of Roissy and Le Bourget. A temporary exclusion zone (FTZ) flight is drawn from the south to the north of Roissy Le Bourget. This space is reserved for bounded planes and pilots accredited with flight plans, passenger names were submitted.An intruder is likely to be intercepted "by any suitable means." AWACS surveillance aircraft and helicopters for surveillance and intervention runs continuously and monitors "anything that flies." On the ground, the Air Force is on alert: the Mirage are ready to take off. Rattlesnake missiles are pre-positioned and radar detection of the Air Force record "everything that moves." All are ready to respond regardless of the scenario: small escort the aircraft flying club that has accidentally wandered into the FTZ, to land an aircraft in emergency or eliminate a target whose trajectory is clearly hostile. "

On the ground, military aircraft are under the protection and monitoring of specialized private companies but also armed them support like the American aircraft.As for civilian aircraft, they are under the protection of security companies licensed by the prefecture and the Ministry of Interior. Three companies subsidiary of ADP Alysia, GPS and Stand-Up is under contract with the organizers of the show. "These are companies of reference, approved in the prefecture who usually major events at the Stade de France or Cannes. They carry out checks at the entrances of the show, searches and identity checks, "said Gilles Fournier.

Similarly, vehicles entering the territory of the exhibition are all controlled and searched by teams cynotechniques explosion of Police.

The site displays a complete medical device. An advanced medical post (PMA) managed by the EMS Department is mounted. It also relies on the private firefighting resources in the Order of Malta delegating nearly 80 people throughout the show.A field hospital is also there with his two centers equipped with defibrillators, resuscitation and 8 beds. "Every year it handles about 150 cases: this is the little bobo heart attack through the heat stroke," says Gilles Fournier. The medical task force also has in its ranks doctors, nurses and firefighters from the brigade of Paris. "Around the room, barracks and hospitals were placed on standby, ready to intervene and welcome. Beds reserved in hospitals in Paris, "said Louis Le Portz.

Stringent safety rules for flight demonstrations

Another aspect to manage public safety and residents during the presentation of aircraft flights. Le Bourget is also a city of more than 13,000 residents, schools and shops. "The rules of safety are absolutely stringent," the organizers insist.The show is under the authority of an Interministerial Commission of Control, chaired by the Prime Minister. From it depends on the Organizing Committee and Coordination Committee (COC) which brings together representatives of the Ministry of Defence and Interior, the Air Force, Airport of Paris, Directorate General of Civil Aviation (DGCA), the prefecture of Seine Saint Denis. The COC approves the demonstration flights daily that drive the show from 14 hours.

The space dedicated to demonstrations is well defined this is called the volume-flying aerial displays and controlled by radar trajectory to track and record real-time trajectory and the exact position of a plane in 3D. Station to the driver that does not follow the strict rules.Prohibition is made out of "volume of flight," to fly across the room, the crowd, to make figures prohibited from encroaching on the airspace close to Roissy. A system of penalty and prohibition of flights is planned but it is very rarely used, say the organizers of the show. The drivers are all experienced professionals who have been approved by the direction of flight at Le Bourget.

From Wednesday to Saturday before the show opens, theft of repetition and validation takes place. Pilots, flight plans and the figures have to be approved by Stéphane flick, the director of flight appointed by the state. The former head of the school test pilots is still active. It is the center pilot flight test of the Directorate General for Armaments (DGA).

Not more than five hours of music per month. The platform for online listening Deezer decided to put its users on a diet. At the launch of its new, faster and more social interaction through Facebook, a new policy was implemented. It marks the end of unlimited listening obtained in exchange for advertisements viewed. The internet has thus no choice beyond the five hours of music heard, you have to pay.

The goal is "to accelerate the conversion of most active users towards premium offerings," says the streaming platform in a statement. For if Deezer is used by millions of Internet users, only 5%, or 1.2 millionsd'utilisateurs are paying subscribers. The shortfall is significant and Deezer trying to correct the situation since 2010.Became a shareholder in Orange since July includes such subscription to the site in some of its plans for mobile and broadband. Its main competitor Spotify has followed the same path in alliance with SFR. Since April, the platform also knows the same kind of restrictions: listening to you free is now more than ten hours beyond the first six months of registration and it is impossible to listen to more than five times the same song.

Pressed to see close the valves of the free and unlimited internet, the majors have strongly influenced these decisions. Their fight is also not complete: Universal Music has always Deezer impose the same restriction to five songs played. But all the stakeholders do not rejoice in this decision, as Adami, a collecting society of intellectual property rights of performers."Why limit listening to five free hours a month just announced as the champion French streaming? We see the requirement for producers who once again is the wrong economic model. Imagine that limits the radio listening to a few hours per month. Record sales they would find it doped? "She asks in a statement. "The proposed model opens the door to the concentration and will affect the diversity," says Adami.

The future of such limitations may depend on decisions made in the U.S. by other Internet giants. Amazon and Google have decided to launch their music service without the majors, at risk of being prosecuted or with a limited catalog of titles. Facebook should ally themselves to Spotify normally while Apple has its side chains agreements for its music service, expected to be announced Monday night.

The European Union (EU) comes to the rescue of its farmers. The Agriculture Ministers of the EU meeting in Luxembourg this afternoon, should decide to unfreeze 150 million euros in aid proposed by Brussels on Tuesday morning. This is to cope with the losses suffered by the fruit and vegetables after the psychosis to EHEC bacteria has killed 23 people in Europe.

"We will propose a $ 150 million" financial aid to cover losses of farmers, whose products are shunned by consumers, concerned as salads, tomatoes, cucumbers and others may be carrying the potentially deadly bacterium , told the press the Agriculture Commissioner, Ciolos. The exact amount of aid will however be adjusted estimates by country."We will take the period from late May, marking the beginning of the crisis at the end of June" to calculate the amount of compensation, "said the European official.

Already, the 150 million mentioned seem insufficient, as the amount of losses made by European farmers. The only Spaniards consider that the bill because of the boycott of their products by European consumers has cost them 200 million euros. In France, the bill, according to professionals, is approaching 5 million.

Berlin slammed

Germany on the other hand was roundly criticized for his handling of the crisis by European Commissioner for Health in the European Parliament meeting in Strasbourg on Tuesday. She had made allegations, soon withdrawn, cons of cucumber Spanish after the demonstration of the first cases of contamination."It is critical that national authorities are not lining up to give alerts unproven, because it creates problems and psychosis," warned John Dalli. "It is important to trigger alerts when certain scientific data," he said.

ALSO READ:

"Bacteria: investigators follow several tracks

"Bacteria killer: the trail of bean sprouts

"Bacteria: France wants the aid to its producers

"Crisis of cucumber: 4.8 million loss in France

In recent days, European health authorities are engaged in a real police investigation and a race against time to trace the trail of a new epidemic. Prime suspect: a bacterium Escherichia coli, accused of causing bloody diarrhea and kidney complications. Yesterday, Europe accounted for 1 000 patients in Germany, England, the Netherlands, Switzerland, Austria. In France, six suspects, three of which the Germans are under investigation. All had lived in Germany. Fifteen deaths are regrettable in Germany, one in Sweden.

Where is the health survey? Is this really the cucumber?

At first, the deadly bacteria was traced to imported Spanish cucumbers in Germany. But the German authorities admitted Tuesday that the latest tests showed that the vegetable was not the offending bacteria.

Only the stool of patients contain Escherichia coli enterohaemorrhagic (EHEC). The hypothesis of a contamination plant is however maintained. Tomatoes and salad greens are suspected. The question remains: the vegetables have been infected in Spain, Germany, during transport?

Next Monday, all European health ministers meet in Luxembourg for an update. Francois Grossetete MEP, said "the need to label products to determine their origin."

What is hemolytic uremic syndrome (HUS)?

HUS is a severe complication, sometimes fatal, infections of the digestive bacteria Escherichia coli enterohaemorrhagic (EHEC) types of E. coli that produce Shiga toxin. After 3-7 days of incubation, these infections are revealed by diarrhea, which may be bloody.Nine out of ten patients recover within ten days. HUS occurs in 10% of cases, linked to the spread of the toxin. It is characterized by acute renal failure, anemia and thrombocytopenia (low platelets). This complication is fatal in 3-5% of cases, a patient care on two renal sequelae. One hundred cases are reported each year in France, mainly in children under 15 years.

How to transmit these infections?

Cattle that are healthy carriers, are the main natural reservoir. Transmission to humans is most often through ingestion of undercooked beef (hamburgers, for example) or products containing raw milk. Water and other foods like vegetables contaminated by feces, can also be a source of infection. A direct human transmission is possible.Many serotypes of EHEC are identified, the most common is O157: H7.

What previous epidemics?

The first two outbreaks due to these producers shigatoxin coli were reported in 1982 in the United States. In total, about fifty people were infected with E. coli O157: H7 via hamburgers. In 1996, Scotland, over 500 people who were victims of the same serotype, also by eating beef. The largest epidemic was recorded in Japan in 1996. More than 9400 cases and 12 deaths had been identified, contaminated radish sprouts. In 2000, Canada, 2000 cases of infection were identified among the 4600 inhabitants of the town of Walkerton.In this area of ​​intensive farming of cattle, the infection was transmitted by drinking water.

What precautions should I take?

In general, these bacteria are destroyed by heat, "two minutes at 70 degrees or 100 degrees a minute," says Professor Patrick Berche, microbiologist (Necker Hospital, Paris). Currently, there is, in his view, no reason not to eat raw vegetables. "The only precaution is to wash your hands before and after preparing raw vegetables, and wash vegetables and fruit, possibly with hot water," he insists.

What is special about the current epidemic?

The first is the serotype in question, O104. "It's fantastic, I have not had a case several years ago, said Professor Edouard Bingen (Hôpital Robert Debré, Paris), whose laboratory is associated with the National Reference Center for E.coli-Shigella. This serotype O104 has been the source of an epidemic in the United States in 1994. "It's odd to have a highly virulent strain and immediately resistant to powerful antibiotics such as cephalosporins," adds Dr Berche. Moreover, the current epidemic affects mostly women, while the hemolytic uremic syndrome usually involves children. A difference that, according to Professor Bingen, may be related to the origin of infection: the hamburger more often, raw vegetables in this case.

If, in the very heart of the crisis, the French government has relied on a policy to boost investment-oriented, because he knows that eating is a hexagonal solid growth. A study published Friday by the INSEE has once again confirmed: the actual consumption of households French volume was 13% higher than the average for 27 European countries in 2009.The differences in spending have also been significant – in a ratio ranging from one to three – the Luxembourg being the largest consumer, the Romanian bringing up the rear.

France "is part of a group of six countries (with the Netherlands, Germany, Sweden, Austria and Denmark) that have a comparable level of consumption (between 12% to 16% more than the European average, after adjusting for purchasing power parities), noted INSEE.

Nevertheless, all Europeans do not spend their money the same way … If a German is spending more than its European neighbors to furnish his home, a Spaniard and an Italian consume more hotels and restaurants, and an Englishman in clothing and shoes.

Cultural reasons

For cultural reasons, the French consume more to eat and drink at home than their neighbors.On average, they buy "three times more fish a German and a half times more meat." By contrast, consumption of products from cereals and soft drinks are higher in Germany than in France. Allen consumption of alcoholic beverages is also above the European average.

But that does not mean that the French drink more! This may "reflect the different levels of scope in products purchased," said INSEE. Compared to their neighbors, they also consume more for housing, transportation, recreation, health and education, but less on clothing and restaurants.

The actual household consumption expenditure includes supported by government, including education, health, or housing.These costs "vary in a ratio of one to three and a half years between Bulgaria and Denmark." Level in Germany is close to the European average, while that of France is greater than 25%. The study finds that finally, despite a tightening, the price levels differ between countries of the European Union, "although these countries belong to the same economic union." In France, in 2009, prices are 14% higher than the European average. Logically, the prices are higher in countries where the standard of living is too.

ALSO READ:

"The French have spent less in March

"Wasted: should remove the expiration date?

In Brussels

The debt restructuring is no longer taboo Greek nor the Ministry of Finance in Berlin, or Frankfurt, headquarters of the European Central Bank (ECB). For the first time on Monday, an official with the ECB discussed a possible rescheduling of debt repayments Greek, which should reach 340 billion euros (150% of GDP) at year end.

The restructuring is "not an option," said the Dutch governor, Nout Wellink, faithful to the official policy of the ECB. But to honor its debts "may sometimes take longer than expected.Sometimes this can lead to a restructuring – but not in the sense that some would defend – which leads to a longer maturity debt, "he added, in response to questions from students at the University of Tillburg, Netherlands.

Although measured, this evocation goes beyond the usual discourse of the ECB, very hostile to the idea of ​​restructuring. Just last week, Governor Jose Manuel Gonzalez-Paramo said that this scenario would be "devastating" to the markets that the bankruptcy of Lehman Brothers.

Fear of contagion

The German Finance Ministry, Wolfgang Schäuble, who was the first to break the taboo this winter, yet working very seriously on this assumption.

More recently, Clemens Fuest, chairman of the department advisors, considered this issue "inevitable make quick cash."This weekend, Lars Feld, one of economic advisers to Angela Merkel, said that the restructuring was "the only way forward so that Greece is a little relieved that creditors and help to solve the Greek problem" .

Prudente, Greece prepares the ground for this hypothesis, while repeating that there was no question of restructuring. "It is better that it still extends the repayment period of 110 billion euros that we have lent our partners and we further decline in interest rates," said Monday the Greek Finance Minister George Papaconstantinou, in an interview with Liberation. The EU has already lowered in March the interest rate on its loans and rescheduled repayment.

Concerned about the risks of contagion, Brussels continues to exclude the scenario of restructuring."It does not and will not be part of our strategy," hammered on Monday, European Commissioner for Financial Affairs, Olli Rehn, citing implications "potentially devastating for the country itself and for the eurozone as a whole" . Athens has set up programs "very ambitious," he said. On Monday, the yield of ten-year bond rose by 14 basis points to 15.80%.