Having visited Angela Merkel in Berlin on Friday before meeting and Barack Obama Tuesday in Washington, George Papandreou was in Paris on Sunday to win the support of Nicolas Sarkozy in the crisis in Greece. The appointment, expected by the markets lasted an hour. "Greece can count on full support of France, has hammered the head of state, after having praised the" courage "of the Greek prime minister" who has vigorously taken steps to clean up public finances "of his country. "Greece has done what the European Union asked him to do," recalled the head of state who immediately said that "if necessary, Member States of the euro area would fill too commitments they have made. "In other words, Europe will not let down one of its own.An "economic reality" to the president, a "political and moral obligation" for the European Union.
No recourse to IMF
For Nicolas Sarkozy, not "the future of Greece" is at stake is that of Europe. "The euro is our currency, it is our responsibility," he said, before announcing he would, with Angela Merkel and Jean-Claude Juncker – that has had the phone Monday – quickly "take specific measures "to fight against speculation on the euro, but say more. "We are ready and very determined, he has merely stated. Speculation that plays against Greece can happen in many countries if they can not afford to fight.We must not add a financial crisis to economic crisis itself created by financial excesses across the Atlantic. "
For his part, George Papandreou thanked his "friend" Nicolas Sarkozy for his "commitment and support staff" to help his country out of crisis. "If the speculative attacks against Greece continues, it will not be a Greek problem, but an attack against Europe and the euro," confirmed the Greek Prime Minister, who preferred a "European solution" to a possible appeal International Monetary Fund (IMF). "We do not loan to other countries in the euro area," said George Papandreou. We just want to borrow at rates similar, not identical, to other countries in the euro area.We're just asking a fair treatment. "Greece, which on Thursday lifted 5 billion market, will pay 750 million euros of interest than Germany for a loan of similar amount. "This is not viable, late Greek Prime Minister. This is not competitive. "
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He took his time. But the New York jury delivered its verdict on Friday evening the group of telecommunications and media company Vivendi sued by shareholders ruined by its near-collapse in 2002, was convicted of misleading communication. Its CEO at the time, Jean-Marie Messier, has instead been milled.
As expected, Vivendi's lawyer Paul Saunders immediately announced he would appeal, and that he intended to "win". "We are satisfied that the damage is half of what the plaintiffs claimed this side there is a partial victory," said the lawyer. The plaintiff had estimated that damages could rise to 11.5 billion dollars.
Messier absent when the verdict
Jean-Marie Messier and Guillaume Hannezo, its chief financial officer, were absent when the verdict.They have yet to appear in magistrate in Paris in the spring, with five other executives of Vivendi, including responding to charges of disseminating false or misleading information, price manipulation and abuse of social goods, which they could worth up to 5 years imprisonment and heavy fines for bad credit payday advance .
After three months of trial, the nine board members of the Federal Court had to decide on 57 points very technical. After answering a series of questions establishing the guilt of the accused or not, they have, for each trading day occurring between October 2000 and August 2002, "determine the amount of inflation being caused by the fraud alleged" .
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The new center-right government led by Angela Merkel won this Friday's first showdown managing to impose a package of tax breaks very controversial. After leading the revolt against the camps, the regional states Conservatives have finally adopted the plan to "stimulate growth" in the Bundesrat, the upper house of Parliament, by voting the 8.5 billion tax cuts promised by the Chancellor . These measures, intended to provide a boost to growth, will take effect from 1 January 2010.
The law includes an increase in family allowances, relief of estate costs and lower tax rates on value added tax (VAT) in hotels. The Chancellor and his ministers have negotiated hard these days to convince the heads of recalcitrant regional government by promising billions of euros in compensation.Including Saxony and Schleswig-Holstein, whose finances are particularly vulnerable by reducing taxes.
Reticence of "wise"
Failure before the Upper House would have been a blow to the government, in place since late October, and whose beginnings have been chaotic, marked by infighting and controversy. The Minister President of Hesse, Roland Koch (CDU) has welcomed this "step in the right direction.""This is an important signal showing that the Länder black-yellow (conservative liberals) support the federal government black-yellow," he said.
The government of Angela Merkel has also exceeded the reluctance of the Court of Auditors and "wise", the government's economic advisers, and many economists, who consider irresponsible to offer tax breaks while Germany plans to contract a debt record 100 million euros in 2010. They also believe that these tax incentives will not impact on growth.
In its coalition agreement the Liberal-Conservative government of Merkel provides additional tax cuts of around 24 billion euros in 2011. Roland Koch prognostic already "talks tough and violent," to take the next tax cuts.
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Paris, Palais des congrès. This Thursday, the huge amphitheater, Pierre Gadonneix presided as expected its last general meeting of shareholders of EDF. Re-elected director of the group with 96.5% of the votes, Henri Proglio, already designated by the State, has been inducted as the new chairman of EDF. His appointment should be approved definitively by the Council of Ministers on 25 November. The person will thus serve as head of the electrical lights at the end of the month.
Henri Proglio Photo credits: AFP
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