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Yes and no … The new president issued his declaration of assets. Well above the average of the French, it is also below that of his predecessors. Francois Hollande has assets of 1.17 million euros. Does that make him a rich?

During the 2007 presidential campaign, Francois Hollande, then first secretary of the Socialist Party, gave his definition of rich: more than 4000 euros per month. This Friday, now the president has made public, as is tradition, heritage. Heritage Francois Hollande totaled 1.17 million euros. It includes a house in Mougins, on the heights of Cannes, worth 800,000 euros. Holland is also part owner of two other apartments in Cannes. He also reported owning furniture for 15,000 euros. Finally, it has three bank accounts totaling about 8000 euros, and life insurance of 3550 euros. Then, Francois Hollande is he rich? It depends on perspective.

Yes, if you compare his assets to the French average.

On average, each household in France has a heritage worth 259,000 euros according to INSEE. At 1.17 million, that of Francis Holland is more than four times. It appears even in the richest 10% of the population, who have a wealth of at least 552,300 euros. However, it is not among the wealthiest 1%: to be part of this club, the bar is 1.9 million euros. Francois Hollande may well be a president "normal", its heritage, it is very much higher than normal.

No, if we compare its assets to that of previous presidents

Nicolas Sarkozy declared, after his election in 2007, a heritage of 2.7 million euros divided into two life insurance policies. And, unlike Francois Hollande, said he also had 100,000 euros of jewelry, gold and other art objects. In 2007, Jacques Chirac left the Elysee with a had a wealth of 1.4 million euros, made up, including Castle Bity, in Corrèze. As for Mitterrand, his heritage was 9.7 million francs as it leaves the Elysee Palace in 1995, about 1.48 million euros. It mainly consisted of her apartment in the Rue de Bievre in Paris and his home in Latche, in the Landes.

No, if we consider that rich is someone who pays ISF

Reform of the ISF of Nicolas Sarkozy, in 2011, increased the threshold of wealth tax: it now accounts for taxpayers with a heritage than 1.3 million euros. At 1.17 million, Francois Hollande did not pay the ISF. He does not pay with the promised reform of the tax. Certainly it provides a slice of 0.55% on assets ranging from 800,000 to 1.3 million euros. But only the assets in excess of 1.3 million will pay this additional tranche.

This should significantly complicate discussions between Paris and Berlin. "It is not possible to renegotiate the fiscal pact", which has already been "signed by 25 of the 27 member states of the European Union", said on Monday a spokesman for Angela Merkel. German Chancellor Angela Merkel (the Bundestag by December 2, 2011).

It is "not possible to renegotiate the fiscal pact" European, said Monday the spokesman of German Chancellor Angela Merkel, Steffen Seibert.

"It is not possible to renegotiate the fiscal pact", which has already been "signed by 25 of the 27 member states of the European Union", which aims to strengthen discipline in public finance management, said Mr. Seibert in a press conference, despite the wish of the new French president, Francois Hollande, to add to it a component of growth.

Societe Generale has succeeded in the first quarter to offset the impact of measures in its financial balance sheet reduction imposed by the crisis thanks to the good performance of its Activity s, mainly in banking and investment banking.

Committed since the fall of a larger plan to restructure its BFI, like many other banks in Europe, the French bank said Thursday it had sold to During the first three months of 6.4 billion euros in assets, continuing to strengthen its financial solvency. 

The group has subsequently confirmed its objective to achieve a capital ratio "hard" between 9% and 9.5% under the new prudential regime Basel III said, dismissing any increase again capital to achieve this.

"The group continues its transformation into an active and disciplined. There is a strong capital generation in the quarter," said Frederic Oudéa, the CEO of the SocGen, during a telephone press conference.

He spoke earlier this year a "strong" enabling "to look forward with confidence".

The net result of Societe Generale, the first French bank to publish its quarterly results came out at EUR 732 million, down 20.1% . According to the Thomson Reuters consensus I / B / E / S, analysts on average expected 748 million euros.

"These figures and the effort of deleveraging (reducing balance, Ed) a little more credibility to the group's ability to achieve its goal of Tier 1 common equity by 2013," said Alex Koagne analyst Natixis, in a research note.

16 BILLION IN ASSETS TRANSFERRED SINCE OCTOBER

In exchange, the action Societe Generale, which was displayed at the opening the largest increase in the CAC 40 index with a jump of nearly 5%, significantly reduced gains by midday. At 24:55, the title took 0.58% to 18.14 euros, underperforming the European sector index stroke (1.33%).

Since the beginning of the year, the stock rose more than 5%, against a 4% increase for the European banking index.

"The underlying results are very good. This happens mainly on the BFI, but retail banking in France has been quite stable," said one financial analyst based in London , who declined to be named.

"The fact that they sold in the quarter of the assets of poor quality, most penalizing under Basel III, is rather good news. In one quarter, they save 600 million (euros) in capital, "he says

. In the end, between October 2011 and March 2012 , SocGen sold for more than 16 billion euros of assets

. Constraints by the European Banking Authority (EBA ) to improve their financial solvency to cope with the crisis of sovereign debt in the euro area, European banks must always increase their equity by the end of June, the objective being a minimum ratio of 9%

. At the end of March, one of Societe Generale was 9.4%. Asked about

asset sales, Frederic Oudéa declined to make any comment on e ; ventuelles sales entities or subsidiaries. 

PERFORMANCE OF THE BUSINESS RATE

Particularly monitored by analysts, the activities in which BFI SocGen makes significant job cuts recorded a net decline of nearly 41%.

The bank manages to generate income up 39% in its interest rate, currency and commodities. For comparison, in this sector, the Deutsche Bank had revenues down 8% and Barclays saw its own increase by only 9%.

This performance of SocGen is also welcomed by several analysts.

"The performance of the BFI is remarkable with a decrease in revenues limited to 8%," said Alex Koagne, at Natixis. "This good performance is mainly supported by the FICC (fixed income, currency and commodities, Ed)."

"The activity rate is a surprise," said Tom Van Kempen, an analyst at ING. "They may have reallocated resources in these activities."

After benefiting from a rebound in the stock market earlier this year, the French bank stocks have returned an intense volatility for a month because of a renewed 'concerns about the debt crisis in the euro area.

Investors are also left out of the French banking stocks due to uncertainties related to the presidential election in France, the Socialist candidate Francois Hollande providing sector reform to protect customer deposits and make activities less risky market.

Sodexo announced Thursday for its first half 2011-2012 sustained growth in results due to the dynamism of Latin America and North and its recent acquisitions.

The group, whose results are in line with expectations, remains cautious, confirming its overall annual forecast, but tightened its organic growth target of sales around a range of 6 to 7% against 5-8% previously.

Beyond this internal growth, acquisitions should make an additional contribution of about 4% in consolidated sales, said Sodexo, which has also maintained its aim of increased about 10% of operating profit for the year. 

"We must be cautious in a macroeconomic climate remains uncertain and is still marked by inflationary pressures on food costs," he said during a conference call on Group CEO, Michel Landel.

The growth of continental Europe should remain "soft" by the end of the year, he added.

In the medium term, the world number two behind the catering Compass UK confirms its objective of achieving average annual growth in its consolidated turnover by 7% and reach an operating margin ; rational consolidated 6.3% at the end of the fiscal year 2014-2015. 

Operating income increased 14.5% to 559 million euros in the first half of the year based on a turnover of 9.07 billion euros, up 6.4% organic. This result reflects a favorable accounting adjustment of EUR 26 million related to the cost of pension plans of the group in the UK.

Around 9:25, the title showed a slight decrease (-0.5% to 60.07 euros). Revenues rose 8.3% since the beginning of the year for a market capitalization of 9.4 billion euros.

The activity of Sodexo was supported in the first half by a series of acquisitions in France, Brazil and the United States (with Lenotre respectively, Puras do Brasil, Broset Roth) and by the services provided by the group during the Rugby World Cup.

The group, whose rate of net debt to equity is 38% against 26% a year earlier, will continue to focus on organic growth but did not exclude small acquisitions.

Carrefour, whose performance deteriorated further in France and Southern Europe in the first quarter, is preparing to face another difficult year as the worsening economic climate in Europe continues to weigh on spending for non-food products.

The second global retailer behind Wal-Mart has managed to stabilize its revenue through Latin America and a positive calendar effect, which masked a continuing decline in sales France, Southern Europe but also in China.

Its sales totaled 22.5 billion euros over the first three months of the year, slightly below the consensus of 22.6 billion set by Reuters. 

As reported, they sign an increase of 1.5% with a positive calendar effect and an increase in gasoline prices. But like basis and excluding fuel, they are virtually stable (-0.1%) and excluding the effect of schedule, they were down 2.1%.

"Trends are wrong in almost all markets, especially in France and Southern Europe," say the analysts of Espirito Santo Bank, evoking in particular a very sharp deterioration in the Non-food particularly affected by the crisis.

The non-food – which is affected by the crisis in Europe and competition from e-commerce as retail mix – is, according to analysts, the largest construction site in which Georges Plassat, Future Group CEO , will have to tackle.

Barclays analysts speak of a "challenging quarter" reflecting the magnitude of the task at hand. 

Unsurprisingly, Carrefour has given no indication of its expectations for the current year, while George Plassat will be appointed to head the company as of June 18

EXPECTATIONS OF LOWER INCOME

In the opinion of analysts, the upturn in Carrefour, which suffers from poor positioning of price, high exposure to Southern Europe weighed down by the crisis as well as a format – the hypermarket – in trouble in France, will take time and require investors to be patient.

According to those of Oddo Securities, "the year 2012 should be another year of sacrifices in terms of results" and the recovery could take three or four years. 

The first quarter figures only reinforce the belief of UBS: the consensus expects a stable operating profit of Carrefour in 2012 is "extremely optimistic", and analysts expect the bank a further drop of the EBIT (-18% after falling 19% in 2011).

Excluding the calendar effect, sales of Carrefour in France fell 3.1% in the first quarter.

Those of its hypermarkets, large black spot, have accentuated their fall to -5.8% after falling 4.7% in the fourth quarter of 2011, accusing the largest decline since 2009 , when the current CEO Lars Olofsson took the reins of the group. 

The distributor, which was launched in autumn 2011 in a strategic repositioning of its hypermarket prices in France to try to reduce the gap with its competitors, mainly Leclerc, informed by the voice of its chief financial officer Jean-Pierre Sivignon that "some improvement was under way."

"The image of Carrefour prices in the first quarter gave signs of improvement," he said. But short term, the abandonment of major promotional events for the benefit of sustained low prices weighing on sales.

In Europe, sales fell 3.8% on a comparable basis and excluding petrol, leaded by the sharp economic deterioration in the South, especially Spain, where sales fell by 6.1% (-8.1% excluding the calendar effect), Italy (-4.6% excluding the calendar effect) and Greece where the fall was 15, 9% on a comparable basis and excluding petrol.

In emerging countries, the only good news came from Latin America, particularly Brazil, where sales rose by 7.8% given in comparable (6.0% excluding the calendar effect), while in China the decline has continued (-6.9%). 

These very encouraging figures but meeting the expectations of analysts have argued the action Carrefour in the morning. Parisian traders reported a purely technical rebound for a title that had suffered a 17% decline over the last three weeks and had entered a zone of "oversold".

Earlier this afternoon, he gained 1.09% to 16.25 euros in a market down 0.3%.

This operation is of course to re-inflate the coffers. The police equipment, like helicopters, can also be rented from private individuals. Police for rent, 30 euros per hour.

Police for rent, 30 euros per hour: whoever can afford it can now in Greece seek the reinforcement of security forces and their equipment, an innovation designed to pump up the public coffers, said Sunday the Ministry of protection of the citizen.  

The department confirmed in a statement late March the adoption of a ministerial decision to this effect, "in order to amortize the cost of using equipment and infrastructure of the police, and to modernize."

This reform, which was adopted in secret, had just been revealed by the Sunday newspaper Proto Thema sensational, including, according to police sources, the recently appointed acting Minister Michalis Chryssohoidis, who has enjoyed little of n ' have not been informed in due course. According to Proto Thema, the bill varies from 30 euros per hour for a police officer, or 40 for a patrol car, 200 euro for a celebrity or 1,500 for a helicopter.

According to the Ministry, this lease will concern only "exceptional cases", and will not receive the required approval only if it does not reduce the operational capacity of the body. The range of services offered ranges from "the escort transportation of hazardous materials or works of art", to "support people" or filming.

These services were "available for free" for years, the ministry said, is regularly accused of in recent years to grant favoritism and opacity in any police protection to the costly political and economic elite of the country. The department also relies on what the practice would spread "in many countries of the European Union".

The International Monetary Fund (IMF) said Wednesday the payment of 5.17 billion euros in Portugal under the assistance program recovery of public finances.

The IMF cites recent progress in budget reforms including the restructuring of public sector enterprises.

The Fund and the European Union have set up an aid to Portugal over three years totaling 78 billion euros.

The bailout and the austerity measures that accompany it are beginning to bear fruit: Wednesday, Portugal was able to borrow on the market 18 months, the maximum term Long since his ouster issued the bond market in March 2011. 

According to Nemat Shafik, Deputy Director of the IMF, Portugal will ensure a vigorous implementation of the program to regain market confidence. She adds that the deficit target for 2012 should be achieved.

"The implementation of policies under the program has progressed well and the first signs that the economic adjustment required is taking place," said Nemat Shafik.

The IMF has established an Extended Fund Facility (EFF) for Portugal, which allows faster access to credit. The fund said to have distributed 18.56 billion in this context.

In a report in late March, the General Inspectorate of Social Affairs denounces malfunctions in the purchase, adaptation and monitoring of training job seekers. Agency employment center in Nice

Procurement procedures by training employment center for the unemployed are too rigid to be fully effective, agents lack a simple tool to identify a suitable training to all job seekers, underlines the Igas in a report in late in March. While Nicolas Sarkozy has made training for the unemployed a hot topic of his campaign and he expects in the coming days the proposals of Senator Gerard Larcher UMP to get the number of trained unemployed 10 to 40%, the General Inspectorate of Social Affairs estimates that the "excessive rigidity" group purchasing system "undermines the quality of training purchases."

Training, subject to competition rules, are subject to tendering procedures with bidding. Procedures to reduce and respond more quickly to the needs of the regional employment center buy training packet. Based on a survey conducted in four regions (Brittany, Picardy, Poitou-Charentes and the Rhone-Alpes), the peak Igas a series of malfunctions: bidding "when no match was found necessary "or" training provision was anyway available in the region ", and especially tools" still often craft "in the hands of advisers employment center," which is a major obstacle to access seekers job training ".

"The rate of filling internships are only up to 100%", generating "additional costs" for the employment center for the training are paid hourly and ordered not to the number of students present, is still Igas . The economy of scale is not to go: Poitou-Charentes, the actual average cost is 4,500 euros per student in group training, against € 1,800 in individual training. This principle of payment should be reviewed in the next framework agreement laying down the purchasing of training, employment center told AFP. The Igas also criticizes the weakness of monitoring tools for trainees and training organizations who "deserve to be professionalized."

It suggests defining monitoring indicators (time to begin the program, fill rate, rate of return to work), that are among the very few actors in training, unlike other countries. To increase productivity and reduce the workload of councilors employment, "the establishment of + platforms + training entrusted with the functions of + back office + (registration, payment, recovery certificates, etc..) Should be generalized," continues the 'Igas. The calls finally Igas better "joint" with the regions, who buy them as training for the unemployed: skills training for the regions, training for rapid re-employment to employment center. Employment center has a monopoly in the prescription of training the unemployed but the fact that some funds (17% in 2010), the remaining regions the major funders (57%).

Consumer confidence signs outright acceleration in March after remaining flat in February, announced Tuesday INSEE.

The synthetic indicator of confidence was up by five points to 87 against 82 in February. It still remains well below its long-term average, keyed to 100.

All 20 economists polled by Reuters had expected an index to 82 on average.

In March, consumer confidence about their personal financial situation rose rose three points to -28, INSEE said in a statement.

That their future personal finances back seven points to -18.

Their opinion on the advisability of making major purchases is unchanged from February (24).

Households also feel that the time is somewhat less favorable than in February to save (2 points to 22).