In 2008, he cherished the hope of becoming the first secretary of the PS. But he had finally lined up behind the candidacy of Bertrand Delanoe. In 2011, he thought he could be a candidate for the Socialist primary. Then he threw in the towel, choosing to support Dominique Strauss-Kahn, then rallying Francois Hollande not without obtaining the position of campaign manager. Pierre Moscovici, 54, has learned to give up. Here he is rewarded. He is back in force to the government and assigned the Ministry of Economy, Finance and Foreign Trade. Certainly it does not get the Quai d'Orsay which he dreamed, Laurent Fabius was his favorite. But he inherited a portfolio to match its ambitions. And thereby in passing some disappointed, Michel Sapin in mind. "Mosco" consensual socialist, social democrat, is now a heavyweight team Ayrault, number five in protocol order.

It is he who will be at the forefront of the debt crisis. There is no shortage of assets since knows the workings of Europe. He was, for five years, from 1997 to 2002, Minister Delegate for European Affairs in the Jospin government. At the time, the rise of the Express near the then prime minister, who had just been elected deputy of the Doubs for the first time, had been criticized. But, he will prove himself. Former MEP, a graduate of Sciences Po and ENA, he will prepare no quack the French presidency of the EU, negotiating the Treaty of Nice and the European Constitutional Treaty. During this period of cohabitation, he managed also to find his place against Jacques Chirac. In fact, the President of the Republic and the Socialist Minister for European Affairs are of course in these five years: Chirac taking the young minister with no experience under his wing, even to comfort him when he doubted. An agreement with Lionel Jospin was annoyed.

After the failure of the left in 2002, Moscovici was defeated in the parliamentary elections in the Doubs. A year earlier, he had already failed to municipal Montbéliard. Without parliamentary seat, without mayor, he tried his luck with the 2004 European and found his seat in Strasbourg. In 2007 he was again legislative candidate in the Doubs. This time he wins.

Pierre Moscovici, tried by the Revolutionary Communist League when he was young, joined the PS in 1984. He was close to Michel Rocard, Jospin and Dominique Strauss-Kahn, his former professor at the ENA. He is the son of a social psychologist Serge Moscovici, who was a member of the Romanian Communist Party and fled his country in 1947. Pierre Moscovici was the first to openly criticize the Socialist Francois Mitterrand and his relationship with Rene Bousquet. "What shocks me, he said, is that he can spawn with someone who has been a tool of the state anti-Semitism and an accomplice of the final solution of the Reich." … …..

ALSO READ:

"The full list of government Ayrault

"LIVE – The first government-era Holland

Bernard Thibault has decided on the name that he will present Tuesday to succeed him in 2013 at the head of the CGT. As expected, although he chose a woman … but not announced. Corroborating sources, his choice fell on Nadine Prigent, fifties, nurse and patron of the Federation of Health. A surprise. Bernard Thibault – who would not answer the Figaro had dismissed early due Nadine Prigent negative feedback when he suggested his name in 2011. The future ex-secretary general urged Agnes Naton, fifties also patron appreciated on Labour, the newspaper house, and retired from the Federation of Post. Before changing his mind Monday.

"Nobody understands this change," says an officer taken into confidence. Especially Naton Agnes seems more appreciated internally and Nadine Prigent. The latter "has no profile, is rigid and has little support," says a connoisseur of the house. Now she will face Eric Aubin, too fifties, head of the federation of construction and "Mr. Retreats" of the plant, praised by activists, backed by the largest federations (energy, chemicals, railway …) and speared mediatically at Woerth reform. A favorite … which does not Bernard Thibault. "It is a matter of principle and person, an expert understands. He did not like Eric Aubin began a campaign and doing everything to block his path. "Even if the secular change of designation rules.

"Learning Democracy"

The head of the CGT is indeed chosen has always proposed by the outgoing Secretary General, the confederal committee (NAC), the parliament of the plant which includes the leaders of the federations and territories. But Bernard Thibault has a grudge against the SCC since its members were obliged, in 2005, to call to vote "no" vote on the EU constitution while he would not take sides.

Come a new feeling bad shot, so he modified in 2010 the procedure for appointing his successor by integrating the Executive Board (EB), the central government composed of relatives chosen by him. These are its members and will propose Tuesday that a name that will be confirmed or not by the NCC May 30 "In a structure like the CGT, one does not belong: it is not a candidate, we are led by organizations", philosopher Éric Aubin. A relative finds that Bernard Thibault seeks "an ultimate coup": "He wants to force the hand of the NCC, which escapes with an EC decision is proficient." Unless this is a gamble to go to the last moment as the ultimate guardian of the unity and try to re-enlist for a fifth term

.

The psychodrama of the designation of the future head of the CGT will in any case to leave traces. "It'll be a hell of a mess and he is not sure that the CGT then reaches to congregate," predicts one expert, for which Thibault missed his exit. "The CGT is slowly learning of democracy, another nuance. This is the first time that the secretary general will not be recommended by the CPF. "

In fact, in 1999, Bernard Thibault, leader of the railroad strikes of 1995, was knighted by the Party. But the CGT has since cut the cord – although it has recently reversed its policy by calling for neutrality vote against Nicolas Sarkozy, half-word, for Jean-Luc Melenchon, supported by the PCF. "The choice for the head of the CGT is no longer imported the PCF. The candidates are positioning themselves and there are strategic issues that did not exist before, "says the specialist. The choice between a trade union opposition (Prigent line) or negotiation (Aubin option).

ALSO READ:

"The war is declared leaders of the CGT

"The CGT called to vote against Nicolas Sarkozy

"Political neutrality: Mailly and criticize Chérèque Thibault

They are few policies with which we can talk about management. Jean-Pierre Raffarin, who before the policy has worked in marketing, communication and management, talk forever about human relationships at work. Young job seekers, future trainees … failing to have stemmed the unemployment, the former Prime Minister gives good advice on how to pass a job interview: ask the right distance, to help engage the recruiter to know you, know not to get choked by the employer too talkative, manifesting his "want to want" suggests the likes of Johny.

And Jean-Pierre Raffarin also gives an interesting perspective on the art of interviewing the wrong spot, "he talks too much and is too hasty cash advance to savings account." Raffarin knows whereof he speaks and knows well. Author of an autobiography, I will walk always affect (Flammarion), he can create a climate in an interview even if we found a little worried when we arrived. A few days before the meeting of the candidate Sarkozy Villepinte, we question the assessment of managerial policies based on criteria. He does not believe it. In politics "you are good you stay, you're bad you're leaving," but adds "the problem is that voters sometimes has a very special notice."

The French system of press distribution does succeed in extricating himself from the dire straits in which the combined decline of newspaper sales and investment capacity of the publishers place for several years?

The French model is very specific. The market is shared between two messaging: Presstalis (ex-NMPP) and Messengers Lyons Press (MLP). The two coexisted for setting up the system, based on the principle of cost sharing distribution between publishers, under the rule of law Bichet 1947 that guarantees pluralism of the press. Presstalis distributes 75% of volumes in France, including all of the national daily press, the rest being transferred to MLP, its competitor centered on magazines.

Cost Sharing

In recent years, the MLP gained more market share by offering attractive rates. And at the same time, Presstalis sank into difficulties. Faced with significant structural costs, late in the modernization of its network, the messaging has been facing a severe crisis in 2009. Despite a savings plan of 86 million euros from 2010 to 2012, it would still lose 15 million in 2011.

Meanwhile, the structural decline of print media sales, estimated at 6% last year and probably similar in 2012, continues to affect the entire industry. NMPP has had to adjust its restructuring plan, adopted in December by the two cooperatives that comprise it. At the same time, certain securities of Mondadori France (Grazia, Top Health and Biba) and The Point have announced their departure from Presstalis for MLP.

Presstalis responded, saying the defections compromised, at the worst time, its turnaround plan. Hence his attempt, rejected by the new Regulatory Authority for distribution of the press, to freeze these departures securities. But Presstalis is returned to the charge by offering a longer notice periods for transfers of title to better anticipate the loss of customers.

Messaging supports the approach of the Supreme Council of the messaging of the press to share the cost with the MLP distribution of the national daily press, it is only to ensure the load while the flow of major newspapers are considered "structural "for the entire network. The recovery system will depend on the ability of actors to agree to divide equally the costs, while modernizing the network, including reconciliations between operating depots (wholesalers), now too many. The latter provide the newspaper distribution in 29,500 retail outlets.

Investors should therefore play the card of caution before the EU summit tomorrow, which should deliver a plan to increase the firepower of the European bailout fund (EFSF), to recapitalize banks and to erase a portion of Greek debt. To do this, and it is then a first-, the EU will apply directly to other states and their sovereign wealth funds to strengthen his strike force in case of economic shocks.Norges Bank Investment Management (NBIM), which manages the Norwegian fund (397.5 billion euros), has already applied for, according to Reuters.

But time as concern mounts including the Italian debt. Despite new savings measures announced by Rome, with rumors of the European Union and the International Monetary Fund are becoming more pressing. This prompted Silvio Berlusconi, the prime minister, to get angry Monday: "Nobody has anything to fear from the third European economy and the extraordinary founding of the European Union" which is the Italy.Then added: "We honor our debt regularly, we have a primary surplus [excluding debt interest] more virtuous than we and our partners will achieve a balanced budget in 2013."

Investors want to be reassured

In this context, the markets should wait for signals about the political strategy to prevent contagion of the Greek crisis. This is already on a war footing since the beginning of the week, like Baroin. Yesterday, the Minister of Economy has estimated "convinced" that European leaders would reach a "global agreement". According to him, the last meeting of the euro area in Brussels this weekend in Brussels has led to progress "two thirds" of the negotiations.

In fact, expectations are high, including abroad.For its part, the euro fell slightly against the U.S. dollar, losing 0.14% to 1.391 dollars.

On the agenda in France, Gfk index of consumer sentiment (November) will be unveiled this morning. As housing starts and consumer confidence (October).

In the U.S., the Case Shiller real estate index (August) will be published early in the afternoon. The Consumer Confidence Index (October) is expected in 16 hours.

Values ​​to follow:

• STMicroelectronics announced Monday a decline in sales in the third quarter in a context of deteriorating semiconductor market and general economic uncertainty.

• Seb has achieved organic growth in sales of 7.2% in the third quarter, primarily driven by its performance in emerging markets.

• JCDecaux has entered into an agreement with Presstalis, partnership marketing and distribution of the press, to acquire 95% of Mediakiosk. Presstalis retain 5% stake in the company managing over 746 outdoor advertising kiosks in France, whose sales totaled 26 million euros in 2010.

• Peugeot aims to sell 500,000 copies of its future 208, we read in The Tribune on Tuesday. Produced in Poissy and Slovakia, the car should also be made in Brazil and China. Its price will be very aggressive attack, the newspaper said.

• Groupama announced that its CEO Jean Azema had been revoked and the new management team should improve operating profitability and solvency.

"The outstanding, which had indeed declined after the peak record in mid-2009, increased 12% worldwide in the first half of 2011," says chief economist Yves Zlotowski. Peripheral countries in the euro area are the most vulnerable, with an increase of 28% in Greece, Italy 29% and 71% in Portugal. "In this country, it is less sovereign risk worries that the business impact of the recession, austerity measures, the credit crunch and lack of growth opportunities," said the Chief Economist.

Another weak link, Italy (rated A4) which is found as Portugal (A4) on negative watch.The economy suffers from structural weaknesses of businesses, which will be aggravated by the economic slowdown. Degraded by one notch, Greece (note C) brings in its wake Cyprus (note B), due to the high exposure of its banks and a very high private debt no faxing pay day loans.

Other countries in the euro area – Germany, Austria, Belgium, France and the Netherlands – retain their A2 rating but lose the positive watch, as the United States.

Crisis of confidence

Overall, the two sides of the Atlantic are suffering the same problems.In downturn, linked to debt reduction of economic agents, combined with the crisis of confidence reflected in market volatility, the distrust of banks holding back access to credit, and political obstacles, among the psychodrama of the debt was U.S. and European delay in resolving the case of Greece and strengthen the euro area.

"We need a credible institutional scenario on European and safeguards," notes Yves Zlotowski, is said, however, confident. "There have been major advances in Greece, the role of the ECB, the EFSF …."

ALSO READ:

"Deficit reduction is entirely due to the transport sector," stressed the customs in a statement. Remains that over the last twelve months, the gap between imports and exports widened to 66.8 billion euros, against 51.5 billion for 2010.

Exports reached on August 37.42 billion euros, up 2.9% at three months. Airbus sales have been strong high for the month of the year, thanks to the delivery of three Airbus A380 super jumbo no fax cash advance.In addition, France has delivered two satellites, one in China (112 million) and the other in the United States (130 million). The performance of aerospace and aeronautics, powered shots of large contracts, are very volatile from one month to another.

The rest of the industry has pretty well taken for export, Customs noted "particularly strong for industrial machinery and electrical equipment, industrial exports are fixed for the chemicals."

Imports in turn was driven by the manufacturing industry (chemicals, rubber, plastics, industrial machinery, etc.).. "Imports are also rising, particularly since the European Union (Ireland, Germany, UK and Netherlands), 'the Customs.

However, the deficit-which aggregates the deficits of the State, Social Security and local-rest him, identical to the forecast, ie 5.7% of GDP in 2011. "And this government deficit, which accounts for the rating agencies" insists one at Bercy. No hocus-pocus. This stability is primarily due to good news side Safely. Thanks to the good performance of the employment and wages in 2011, social contributions are expected to exceed more than one billion in the forecast.In addition, "costs of parastatals grew more slowly than expected," said Valerie Pécresse's entourage, the budget minister.

Do everything to prevent France to lose its "AAA" rating! Since the U.S. has been damaged on Friday by the rating agency Standard & Poor's, the pressure has increased dramatically over the last states still rated AAA in the world. Keep this precious document is now the major objective of the French government, for reasons both political and economic. A downgrade of France in fact lead to mechanically increase the cost of debt refinancing. But with 47 billion a year in interest payments, the debt burden is the second largest budget item in order of importance. At such high levels, any runaway deficit could swing into a downward spiral.

For now, however, there is no indication that France is threatened.On the contrary: since the beginning of the new crisis, two weeks ago, the rate at which the Treasury borrows on the markets – and ten years – fell by 3.44% to 3.07%, which is one point among the lows. In practice this means that investors continue to buy the French debt they still consider very safe. Moreover, Standard & Poor's, Moody's and Fitch have confirmed all three since the beginning of the week's AAA rating and France recalled that the note was accompanied by a "stable" outlook, that is, that they do not intend to revise the medium term. This does not prevent the wildest rumors running now in the trading rooms. Bercy had to lie to "formally" on Wednesday that France would be degraded."We want the managers of U.S. pension funds who question the quality of the French debt," says a French banker. To silence these questions that may to be growing, the executive is forced to accelerate its program of fiscal adjustment.

The unknown growth in 2012

Thursday morning, INSEE publish the number of French growth in the second quarter of 2011. Officially, the institute provides an increase of 0.4% of GDP. But economists expect a lower figure. Some do not hesitate to bet, even on a stagnation in activity between March and June After the strong rebound in GDP in the first quarter (+0.9%) consumption and industrial production have turned red, for technical reasons (end of scrapping, rising oil prices …) but also because global economy is now declining payday loans in one hour.The surprise meeting at the Elysee on Wednesday was probably meant to anticipate bad news ahead. "We have always said that the second quarter would be worse than the first and the activity will then return later this year," cautions there be in the entourage of Baroin.

A priori, the government should maintain its forecast of 2% growth this year, he still has a great chance to meet with the dynamics of the first month. However, doubt increases over the year 2012. Initially planned 2.5% growth for 2012 was revised down in May to 2.25%. This forecast now appears optimistic. Even before the storm in financial markets, experts Treasury recommended to display a more conservative figure of 2%."We want to be politically and economically credible our expectations: whether to revise downwards the growth we'll see," says one in the entourage of Valérie Pécresse.

More rigorous perspective

Baroin and Valerie Pécresse continue to hammer home: the objective of "intangible" is to keep the deficit reduction goals that provide for a deficit of 5.7% of GDP in 2011 and 4.6% in 2012. And that, "regardless of the level of growth," says one at Bercy. In other words, if the government is lowering its forecast for GDP in the coming days, they must be accompanied by such additional savings. For now, it is expected that the 2012 budget to be submitted end of September, involves three billion euros in savings on tax loopholes. It will probably do much more.Gilles Carrez (UMP), General Rapporteur of the budget in the Assembly, recommends at least 5 billion economy. If the amount is not yet determined the method, it begins to ripen. "It's likely that we proceed as in 2011," it says in the entourage of Baroin. This implies a general planing existing niches – "for everyone involved" – and a removal of devices deemed the most unjust. Companies are in the crosshairs this time, especially large compared to SMEs. Determine precisely the niches will be deleted at stake in the meeting of August 24.

ALSO READ:

"In the back kitchen of rating agencies

»COMPUTER GRAPHICS – Paris Bourse: 70 billion evaporated in five sessions