The G20 summit opened in Cannes on Thursday in an acute crisis. President Nicolas Sarkozy had to leave an extraordinary meeting of the euro area to hold under a rainy sky guests, leaders of 20 leading world economies.

The crisis in the euro area has so encroached on the official program that the French president had to cancel his meeting with Indian Prime Minister Manmohan Sing. French President Barack Obama had previously met face-to-head and seems to have gained the support of the United States for its proposed financial transactions tax cash till payday.

The political changes in Athens have also punctuated the start of the summit. Returning to Greece after being scolded by Nicolas Sarkozy and Angela Merkel on Wednesday, Prime Minister George Papandreou is facing the sling of his own ministers.Rumors of resignation are insistent, despite denials from the Prime Minister.

On Thursday afternoon, the G20 countries were in flooring solutions to end the crisis, reform the international monetary system, and the increase of IMF funds. If the crisis in the euro area permits.

In the wake of the Asian stock markets that appear in no particular order on Tuesday, the CAC 40 is expected in early fall at the opening, waiting for a European plan to end the debt crisis in the eurozone. The day before, despite signs of economic slowdown, the Paris Bourse had finished his session in the green, gaining 1.55% to 3220.46 points.

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.

Chinese Internet giant seeks U.S. partner to buy Yahoo!. Jack Ma, Alibaba's boss, could have drafted the announcement, before leaving to meet U.S. investors, including investment funds. A process as much financial and political. When in early October, Jack Ma had mentioned a possible interest in Yahoo!, it sparked an initial outcry in the United States. Elected officials from all sides had expressed concern at the idea of ​​an American portal pass under the Chinese flag. Finding local allies, Alibaba would silence some of those critics. The risk exists of the U.S. authorities seize record and block the ambitions of the Chinese giant.

However, both companies know each other well. Six years ago, Yahoo! has given its China operations to Alibaba Group, paid him a billion dollars in exchange for 40% stake in Chinese.Since then, the U.S. has seen its value plunge and Chinese flew. The market capitalization of Yahoo! – $ 20 billion – equivalent to almost exactly the estimates of the value of its stake in Alibaba Group, says the Wall Street Journal same day payday loans. The holding company is not quoted, unlike any of its subsidiaries, alibaba.com, whose capitalization is evolving in the region of 3.5 billion dollars to the Hong Kong Stock Exchange.

Growth potential

Jerry Yang, founder of Yahoo!, for its part considers that his company still has a real potential for growth alone. This, even though the group has still not recovered from CEO to preside over its destiny after landing Carol Bartz in September.

The Chinese group is not the only one with views of Yahoo!. The investment fund Silver Lake, a Canadian pension fund and Microsoft are likely to file a joint bid.These speculations benefit under Yahoo! who won nearly 25% since the beginning of the month to return to the threshold of $ 16 a share on the New York Stock Exchange.

ALSO READ:

"And if Yahoo! went under the Chinese flag …

"Google is interested in the fate of Yahoo!

This morning, the Superior Audiovisual Council (CSA) summoned the three news channels continuously BFM TV, iTV and LCI for a wake-up call muscular. The subject? These chains have gone far beyond the time allowed the Socialist Party (PS) during the primaries. The rule of speaking time issued by the CSA requires TV stations to give the parliamentary opposition (PS), a talk time of 50% that of the majority bloc. Settlement takes place on three months of information for newspapers and magazines for six months of information.

However, the CSA noted that the period from 1 July to 30 September, the news channel did not respect this balance on newspapers for information."ITV has given the opposition parliamentary speaking time 146% higher than that of the majority, BFMTV gave 142% and 130% LCI! Unheard of at this level "protests Christine Kelly, a member of the CSA in charge of the case. "The time allowed to PS was significantly exceeded" acknowledges CEO Guillaume Dubois BFMTV. "We have given priority to the information. Now the case has raised the antenna DSK in July and August, the Senate elections and primaries PS mobilized in September. We invited representatives of the majority but they decided to be discreet "defends Guillaume Dubois. "It's not the fault of having warned" Christine Kelly replies "I have met for the first time in July and I have warned against a possible slip of the Senate and the primary"

Tomorrow morning, the CSA will meet in plenary session.Constable Audiovisual could decide on a formal channels of information. "It's a yellow card. But if they start, then the CSA will release a red card and take sanctions "warns Christine Kelly

However, the CSA notes that most other television and radio all have fully complied with the instructions. On the side of France Televisions, which also broadcast the primaries in two news magazines, the balance was followed. Information for newspapers, counters ended September 30 show that the parliamentary opposition bloc has 51% of speaking time points Thierry Thuillier, the Director of Information of France Televisions.The new review period from 1 October to 31 December, France Televisions ensure balance time for the presidential majority, including calling Francois Fillon to 20 hours of JT France 2 tonight.

For news magazines, France Televisions has until Dec. 31 to offset the 4:45 discussion devoted to the primaries. Already Alain Juppe had been invited for two hours in the program "The words and actions" on September 30. Tonight, the program "Crossword" lasting 80 minutes will receive a majority of three personalities: Lionel Luca, Chantal Jouanno and Herve Morin. Finally, France Television is negotiating for an intervention of Nicolas Sarkozy on October 24.In this case, if the head of state talking about the crisis of the euro or Greek debt, his time is not counted, however if he talks about domestic policy, then the speaking time will be taken into account.

Globalization has a bad press these days. While the debt crisis has taken over from the 2008 financial crisis, many cities and regions rely on the relocation of the economy. They have to do this, decided to do without the euro by inventing their own currency. Latest initiative, that of Filettino, Italy, beating since late August, "Fiorito".

This small town of 598 inhabitants located in the province of Frosinone in the center of the country declared independence in protest against the government's austerity plan which provides for the pooling of budgets of small towns under 1000 inhabitants. The new "Principality" issued 20,000 tickets to the effigy of the Mayor and has already set an exchange rate against the euro if it would carry out its threat of secession. The "Fiorito" would then 0.50 euro.

The idea of ​​an alternative currency to the euro or the dollar is not new. By 2003, Prien am Chiemsee, a common German Bavaria, has released the "Chiemgauer." Notes 1,2,5, 10, 20 and 50 Chiemgauers have the same value as the euro and can be used in a network of retailers and businesses that have joined the project. Today there are 617 members. The phenomenon has become so widespread in Germany there are about sixty local currencies.

Development "solidarity"

These alternative currencies have also landed in France. At the initiative of the Association for the living act, the Bee has appeared in the wallets of the people of Villeneuve-sur-Lot in the Lot-et-Garonne, in January 2010. In Toulouse, the Sol-Violette is intended as a "currency ethics", which aims to promote "economic solidarity".Finally, the South Ardeche has established its currency, the Firefly, in spring 2011 in order to "pave the way for a greener economy of the human being and its environment."

Hints "solidarity" that is found throughout Europe, the hour or the debt crisis is spreading cheap business cards. In Belgium, in the region of Hainaut, in Mons has launched the Ropi to "relocate the economy, preparing for post-growth, and put the citizen at the heart of the debates and decisions, including finance and monetary issues. " These concerns go far beyond European borders. In the United States in the region of the Berkshire (Massachusetts), associations were created in 2006 a parallel currency system, based on BerkShares. Today, more than 400 companies accept this money, and more than 2.7 million BerkShares are outstanding, redeemable at $ 1 against 0.95 BerkShares.

Closed circuit

Faced with the popularity of these alternative currencies, the euro and the dollar they have to be worried? In a report published in 2007, the Deutsche Bundesbank, the German Central Bank, was already wondering if they could compete with the euro. According to the institution, the local currency in circulation in Germany then weighed the equivalent of 200,000 euros and their impact on the economy was "negligible." Today, they account for 900,000 euros.

The Bank of France, meanwhile, said that the legal tender, as defined in the Monetary and Financial Code, is the fundamental principle of any form of payment. "Traders are obliged to accept notes and coins are legal tender with this." Conversely, the release of a parallel currency is not prohibited, but it must be under an agreement between the different users."This currency is not exchangeable and circulates in a closed circuit," says the institution. Despite the snowball effect, the euro has probably nothing to fear from local currencies doomed to remain confidential.

ALSO READ:

"Toulouse experiencing a currency" solidarity "

Tighten controls on market operators: it will be a priority of the successor of Oswald Grübel, the CEO of UBS who resigned this weekend after the discovery of a loss of $ 2.3 billion caused by a dishonest trader.

But the Swiss bank is not alone in feeling concerned. All trading rooms around the world have the fear of these traders "crazy", they keep trotting out the litany of Nick Leeson, the destroyer of Barings, to Jérôme Kerviel, the world record with 5 billion euro soared to Societe Generale. And each new scandal, as that caused by Kweku Adoboli at UBS encourages to review the effectiveness of brigades antifraudeur.

In 2008, after the disappointments of Societe Generale, Bercy was imposed on Societe Generale, BNP Paribas and Natixis other a plan of attack.Knowing that the supervisory authority requires more or less equity trades across markets depending on the quality of procedures for prevention and detection, the effort proved intense. "The work that was conducted in French banks would have allowed UBS to avoid this fraud," says Benoit Genest, director of risk modeling to consulting firm Ares & Co.

Behavior analysis

It must be said that the modus operandi of Kweku Adoboli reminiscent of Jerome Kerviel. The index trader UBS is accused of fictitious transactions rose, from 2008 to hide unauthorized positions. To locate this type of martingale, French banks have muscled their risk control systems and require confirmation and signatures to all floors. The positions are valued at their nominal and not just in terms of their net worth of blankets.But hunting is not just a matter traders crazy numbers. The behavioral analysis is essential payday loan.

Banks take very seriously the obligation to their teams to take two weeks off in a row. Not always easy to organize when the holidays are reduced in some countries like Hong Kong. Especially as the human drive to ensure that details two "friends" of a trading floor can not take turns (and hide their possible combination). For the same reason, traders no longer allowed to fraternize with brokers who do their bidding. Farewell invitations lavish gifts and generous year-end. The managers themselves are trained to identify the stress level of their troops. A trader is often fool someone who originally did not dare tell her a little higher "palm".As for those who, like Nick Leeson and Jerome Kerviel Kweku Adoboli now, have gone through the support functions, they are observed under the microscope …

It's new, each operator sign contracts every year a mandate that defines the size of the playground: what products he is authorized to treat, what maturity, what currency, which limits … So any foray outside of this area can be identified. The aim is to ensure that the trader does not abnormal behavior, such as more frequent transactions or unusual amounts. It is no coincidence, moreover, if the fraud often arise when markets are heckled, when finally the abnormal becomes the norm. "Studies show that the risk of fraud is increasing in times of market turmoil," warns Benoit Genest, Ares & Co.So vigilance …

ALSO READ:

"INTERVIEW -" We can not detect all financial fraud "

"Kweku Adoboli, a trader hard working, fun-loving and generous

"The trader UBS would have bet up to $ 10 billion

After a lull last week, financial markets have plunged sharply Monday. Concerned about the lack of strong commitment of European finance ministers to support Greece, this weekend, and surprised by the tensions between Europe and the United States, investors are more likely to feel inevitable a lack of Athens. In Paris the CAC 40 index fell 3% while the German Dax gave up 2.83%. Again, it is the banks that were hardest attack.

The declaration on Sunday night on TF1, former IMF Managing Director Dominique Strauss-Kahn, for whom "we must accept to recognize that we must take his loss" of Greece was the effect of bomb."Hearing that DSK four months ago the IMF also urged new funding for Greece say the exact opposite now shows how events have turned," says Bruno Cavalier, chief economist at Oddo Securities. For the latter, there is a "real tired of the financial markets who want to wipe the slate clean once and for all to get back on firmer footing."

A feeling evident in a survey by Barclays Capital from major global investors. They are 24% think that the current crisis will lead to a breakup of the euro area. Over 60% of them believe that the European Financial Stability Fund (EFSF) will be insufficient to resolve the debt crisis.Although little scientific significance, such polls show the amount of work to be done now to reassure the magnitude of the crisis.

Bercy wants to reassure

France, Monday it is used by the voice of its Minister of Economy Baroin for which a default of Greece "is not a working hypothesis." At Bercy we stick to the same line of defense when all European countries have adopted the plan of July 21, that is to say by mid-October, the bleeding will be stopped.Reasoning that is opposed to that of economists who say a failure Greek is becoming increasingly economically rational, "If they want to avoid a failure of control, the Troika and the European Union in particular have an incentive to relieve pressure on the objectives short-term budget of Athens by insisting on the implementation of structural reforms to boost potential growth in Greece, "say economists at Morgan Stanley free business cards.

Rather than a sudden failure, we must consider a debt restructuring in the short term, implying a lower repayment installments provided for in the coming months to ease the Greek public finances.The major risk of such a scenario is a contagion to other peripheral countries "can be avoided if the ECB goes on the front lines and discourage speculation against the Italian debt by buying heavily," said Bruno Cavalier.

Creditors on deck

In this climate of growing skepticism, Greece somehow continues the implementation of the agreement of July 21, which passes through the participation of private creditors. Artisans of the device designed to reshape 192 billion euros of Greek claims STRIPS to complete the offer in October. "This operation can not be done in a snap. It is very complex technically and supports many constraints, "insists Fabrice Faure-Dauphin, a partner with law firm Allen & Overy, the Board of the operation.And insist: "If Greece were to miss a deadline, it does not fundamentally change the rules and would not offer more solutions to the problem."

The only good news, the first signals of the voluntary contribution of banks and other insurers are quite positive. While Greece requires a 90% interest in the exchange, some suggested a rate of 75% or 80%, almost unexpected. At these levels, the operation would have every opportunity to move forward. "A contribution of 85% instead of 90% needs to find an additional 8.5 billion euros," analysts calculate Barclays Capital.If Athens was a survey of creditors, the real success of the operation will not be known until after the formal offer proposal issued by the Greek government.

Athens without a loan repayment expected before December, this still leaves him time for both to continue its negotiations with the Troika and to carry out – or not – this massive debt restructuring for its crucial public finances. Meanwhile, the markets do not.

"To fly a plane, it takes a whole army." This is the message that the Air Force has chosen to pass through its new advertising campaign to recruit more than 2,000 people a year, the CAP to major schools, fifty trades pilot mechanics, to computer, handler, firefighter, air traffic controller, dog …

Of these 2000 appointments, about 700 relate to the ranks engaged (recruited at CAP / BEP) and a thousand non-commissioned officers.Side officers are recruited each year 70 graduates of the School of the air from -70 to 75% of them not start the job of pilot-, from 40 to 45 officers under contracts in the areas of strategy, HR … the language – and 30-50 pilots under contract selected on psycho-technical tests at the tray.

The Air Force, which operated until its communication campaigns in-house, has chosen this time to give it to Euro RSCG C & O. Which advertising agency had previously conducted a survey of young people. This shows that 15-25 year olds perceive the Air Force as an employer seeking essentially elitist profile experts and immediately operational.

"The Air Force is not as drivers! It is a chain of solidarity and skills that enable our pilots to take off, "insists General Jean-Paul Palomeros, Chief of Staff of the Air Force.We have a good image, but the public does not know in detail the career opportunities available, "he says, recalling the traditional role of" social elevator "played by the army.

Average age of 33 years

After a phase of downsizing, the Air Force into a logical flow stabilization recruitments and departures. Since 2008, as part of the reorganization of the armed forces, recorded in the general revision of public policies (RGPP) and the White Paper on defense, it has reduced its forces by 25%. It currently employs 60,000 people, with an average age of 33. "Recent operations in Libya and Afghanistan have demonstrated our expertise and we have refined our requirements in view of the evolution of our business," said General Jean-Paul Palomeros.Among the business to a point, intelligence research specialists to information systems, analysis of information and cyber defense.

After playing in the red much of the session, the Paris Bourse rose in the green after a good figure on the activity in the industry in the United States. Then the enthusiasm has faded: to finish, the index ends, certainly on the rise – for the fourth session in a row – but she is shy (0.28% to 3265.83 points.

Having shown that wait-Thursday, and investors welcomed the announcement in mid-afternoon of a manufacturing sector still growing in August to the other side of the Altantic, while specialists' s expected to decline over the period. The announcement of a high relapse U.S. construction spending in July, reflecting the weak housing market has not dampened the optimism of the markets recovered this afternoon, somewhat reassured about the state the U.S. economy.Especially on the eve of the highly anticipated monthly employment report, the number of inscriptions hebdomadairres unemployed fell during the week to August 27, at 409,000 against 421,000 the previous week, said the Department of Labor (410 000 entries expected).

These new on the health of the U.S. economy and restore color to the dollar against the euro. To 17 hours, the European currency was worth 1.4263 dollars against 1.4374 dollars late Wednesday (-0.81%).

Indicators most disappointing in Europe

In the euro area, the final manufacturing PMI contracted in August for the first time since September 2009 due to a fall in output and new orders. The index calculated by Markit PMI final spring to 49.0 in August, against an initial estimate of 49.7 and after 50.4 in July.The German manufacturing sector slowed in August, including at its lowest in almost two years, to 50.9 after 52.0 in July. In France, the PMI industry has returned to 49.1 against 50.5 in July, an even sharper decline than that reflected by the flash estimate of 49.3 issued two weeks ago.

Also in France, the unemployment rate as defined in International Labour Office (ILO) decreased slightly by 0.1 points in the second quarter to 9.1% on average in metropolitan (9.6% including the departments of overseas), according to data seasonally adjusted (SA) Interim released Thursday by INSEE.

As for the oil markets, disappointing manufacturing indicator in Europe weigh on oil prices.At midday, a barrel of Brent North Sea crude for October delivery was trading at 114.04 dollars in London, down 81 cents from the close of Wednesday.

Values ​​to follow

Alcatel-Lucent

A pool of companies led by Alcatel-Lucent has been selected for the renovation and operation of computer networks and communications of the Air Force. The contract of 350 million spread over 16 years.

Banking

Greek debt is out of control and the measures taken by the government can not restore the finances, the report of an independent parliamentary commission on Wednesday. After suffering the first part of the meeting, the bank, however, have included: Société Générale advance of 1.65% to 54.37 euros, Natixis climbed 1.94% to 2.84 euros.But Crédit Agricole falling 2.08% to 6.67 euros and BNP Paribas down from 0.63% to 35.64 euros.

Peugeot: -0.98% to 21.12 euros, Renault: -1.22% to 27.99 euros, Michelin: -1.59% to 50.18 euros

The new car registrations were up 3.2% in August. But sales of SAP were down 3% and 1.4% of Renault.

Fimalac: + 7.36% to 26.26 euros

Fimalac accounted for more than 6% Thursday on the Paris Stock Exchange after the announcement of the sale of its Canadian subsidiary Algorithmics, specializing in software for the financial industry, the U.S. IBM.

Eramet: – 1.21% to 147.20 euros

The CEO of Eramet, Patrick Buffet, asked Thursday to New Caledonia guarantees the stability of capital and access to resources of nickel subsidiary of the archipelago, Société Le Nickel (SLN) cheap payday advance. Mr.Buffet made the requests in the renewal of the shareholders, linking Eramet-SLN since 2000 and the three provinces of New Caledonia.The latter hold through the STCPI 34% stake in SLN and 4% of Eramet.

Sanofi: 1.50% to 51.42 euros

The group reached an agreement with Pfizer to produce generic versions of Lipitor cholesterol before the star of the American group from falling into the public domain, writes Les Echos newspaper on Wednesday.

Total: 1.09% to 34.36 euros

The National Transitional Council (CNT) Libya has promised to give to France 35% of crude oil from Libya in exchange for recognition of its legitimacy Paris, Liberation reported Thursday.

Iliad: + 2.38% to 85.54 euros

The internet service provider reported in the first half of 231,000 new subscribers under its brand Free (excluding Alice), a market share of 36% and saw its EBITDA margin to improve by a , 4 point to 40%, or 416.4 million euros on sales of 1.04 billion (+2.6%).

France Telecom: + 1.43% to 13.349 euros

The U.S. administration has initiated legal proceedings Wednesday to block the sale of Deutsche Telekom's U.S. subsidiary T-Mobile to the giant AT & T for reasons of respect for competition.

Pernod Ricard: – 0.93% to 61.92 euros

The French producer of wines and spirits, announced Thursday a 10% increase in net profit for the year 2010-2011, exceeding for the first time the billion euros.

Eurazeo: – 1.07% to 39.23 euros

The investment company said Thursday in a loss of 106.3 million euros in the first half due to losses on derivatives and goodwill

GDF Suez: – 2.28% to 21.45 euros

The group said it had completed the acquisition of gas storage sites in Germany.

Eiffage: – 17.94% to 27.94 euros

The new CEO of the group does not preclude the sale or closure of loss-making subsidiaries to consolidate the early resumption of the performance of the construction group observed in the first half.

Saint-Gobain: 0.10% to 35.07 euros

The group announced it would invest $ 100 million (69.41 million euros) in the United States to create a factory specializing in the manufacture of ceramic balls ("proppants") used in wells oil and gas.

Latécoère confirms its objectives

Lagardère: – 11.11% to 21.16 euros

The group was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.

Maurel et Prom: + 1.35% to 14.67 euros

The group took the first half of the increase in its oil production and high prices in oil prices to clear the results up sharply.

Guyenne et Gascogne: – 2.65% to 86.40 euros

The group reported a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.

Latécoère: + 0.37% to 10.81 euros

The group, whose net income rebounded sharply during the first half, confirmed its targets for operating profit in 2011 and 2012.

Theolia: + 9.52% to 1.15 euros

The group reported Wednesday a recovery in its interim results, the French wind power has reduced its interest expense over the period, particularly through the conversion action of nearly two million of bonds.

After market, Neopost will publish its revenue for the second quarter and Stallergenes results for the first half.

When in 2007 the Merkel government has created an additional income tax of 45%, Germany was against the current. At the time, it was time to lower taxes to encourage work. But the crisis and rising public deficits have changed everything. Germany has become more and more followers. In 2010, the UK has increased to 50% the rate of the highest portion of its income tax (IR). And Italy is preparing to introduce a solidarity tax for employees earning over 90,000 euros.

More surprising number of taxpayers potentially affected by such a tax do not hesitate to ask now open! American side, the billionaire Warren Buffett has called this week for a contribution of "mégariches."In France, Maurice Levy, chief executive of Publicis Group and president of the Afep (French association of private companies), wrote in his name, an article in Le Monde, where he considered it "essential that the effort Solidarity begins with those whom fate has spared. " All indications are that it will be heard as the French government pledged last spring to introduce a tax on high incomes. "Today we are working on the issue of remuneration is said sometimes extravagant," reiterated on Wednesday on Europe 1, the budget minister, Valérie Pécresse.

The majority has already noted last year from 40% to 41% in the final tranche of IR. But this time it is hit with higher incomes (the final installment begins 71,000 euros in annual revenues). And this without creating a new rate of IR.While some lawmakers, like Senator Jean Arthuis centrist, still defend the idea, Nicolas Sarkozy is opposed to any new slice. Since the fall, the government has consistently rejected in Parliament every initiative of his majority to create a slice with 46% annual earnings per share in excess of 100,000 euros.

A million or 150,000 euros of income a year?

The Ministers of Economy and Budget has established a working group of parliamentarians who must propose measures in the fall, in the 2012 budget. The idea of ​​the executive, initially was rather taxing high incomes via the company by making non-deductible from corporate tax wages above a certain level. But the government now seems to favor a direct taxation at the household level, a solution advocated by many parliamentarians.Gilles Carrez, the UMP rapporteur of the budget in the Assembly proposes to introduce a contribution of 1% to 2% of annual revenues in excess of one million euros.

Advantage: All income is affected, including dividends and capital gains, not just wages (as with the non-deductibility). The threshold of 1 million French can target very easy – 30,000 homes would be affected. "The measure must be a symbol. This is not to bail out of the state, "said Jerome Chartier, UMP du Val-d'Oise. In fact, 2%, the new tax would yield only 300 million (against $ 1 billion for the portion eg 46%). "Be careful not to pour into demagoguery and rich hunting. The contribution must be calibrated, "adds Philippe Marini, UMP rapporteur of the budget in the Senate.

Problem: all members do not see it that way.Pierre Mehaignerie, the UMP president of the Committee on Social Affairs in the Assembly hopes that the contribution applies from 150,000 to 200,000 euros in annual income for couples and 80,000 euros for a single. At this level, more than 300,000 homes were affected, including many executives. "I understand that. But our people are ready to make an effort if, at the same time, the state reform, "Pierre defends Méhaignerie. The animated discussions ahead in the majority!

ALSO READ:

"Silvio Berlusconi chooses to tax high incomes

"New tax on bonuses and high salaries