Tuesday, March 31, 2015

11.3%: the lowest unemployment rate in the euro area … – Fiscalonline.com

  11.3%: the lowest unemployment rate in the euro area since May 2012

11.3% unemployment rate in the euro area and 9.8% in the EU28

In the euro area (ZE19), the unemployment rate adjusted for seasonal variations rose to 11.3% in February 2015, down from 11.4% in January 2015 and that of 11.8% in February 2014.

This is the lowest rate in the euro area since May 2012.

In the EU28, the unemployment rate was 9.8% in February 2015, down from the rate of 9.9% January 2015 and that of 10.5% in February 2014.

This is the lowest rate in the EU28 since September 2011.

These figures are published by Eurostat, the statistical office of the European Union. Eurostat estimates that, in February 2015, 23.887 million men and women were unemployed in the EU28, of which 18.204 million in the euro area. Compared with January 2015, the number of unemployed fell by 91,000 in the EU28 and by 49 000 in the euro area. Compared with February 2014, unemployment fell to 1.547 million people in the EU28 and 643 000 in the euro area.

Member States

Among the Member States, the lowest unemployment rates in February 2015 were registered in Germany (4.8%) and Austria (5.3%) and the highest in Greece (26.0% in December 2014) and Spain (23.2%).

In one year, the unemployment rate in February 2015 fell in twenty-two Member States and rose in six . The largest decreases were observed in Estonia (8.4% to 6.2% between January 2014 and January 2015), Ireland (12.1% to 9.9%) and Bulgaria (12, 3% to 10,2%). The highest increases were recorded for their in Croatia (17.3% to 18.5%), Cyprus (from 15.6% to 16.3%), Finland (8.4% to 9,1%). In February 2015, the unemployment rate in the US stood at 5.5%, down from the rate of 5.7% between January 2015 and that of 6.7% in February 2014 .

Youth unemployment

In February 2015, 4,850 million people under 25 were unemployed in the EU28, of which 3.245 million in the euro area. Compared to February 2014, the number of young unemployed fell by 494,000 in the EU28 and 230,000 in the euro area. In February 2015, the youth unemployment rate was 21.1% in the EU28 and 22.9% in the euro area, against 22.9% respectively 24.0% in February 2014. The lowest rates were observed in February 2015 in Germany (7.2%), Austria (9.0%) as well as Denmark (10.2%), and the highest in Greece (51.2% in December 2014) in Spain (50.7%) in Croatia (46.4% in the fourth quarter 2014) and Italy (42.6%).

Source: Eurostat

The euro area (ZE18) includes Belgium, the Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The EU28 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia ( EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Croatia (HR), Italy (IT), Cyprus (CY), Latvia ( LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal ( PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK). The data tables also include Iceland, Norway and the United States.

Eurostat produces harmonized unemployment rates for Member States, the euro area and the EU . These rates are based on definitions recommended by the International Labour Office (ILO). The calculation is based on a harmonized source, the European Survey on Working forces. Based on the definition of the International Labour Office, Eurostat defines unemployed persons as persons aged 15 to 74 who
 - are without work;
- are available to start work within two weeks;
- and have actively sought employment during the previous four weeks. The unemployment rate is the number unemployed as a percentage of the labor force. The labor force meanwhile all people employed and unemployed. In this press release, unemployment rates are based on the employment and unemployment data covering persons aged 15 to 74 years.

The non-seasonally adjusted data and the trend cycle are available in the statistical database on the Eurostat website.


Transportation placed in receivership last fight of Mory – The Republican Lorrain

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The MoryGlobal carrier (ex-Mory Ducros) was placed in liquidation. On the site of Ludres-Fléville, employees do not hide their anger.

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Emmanuel Macron promises a new law for the summer – The Obs

An almost radiant sun pointing Beaune on Monday morning for the visit of Emmanuel Macron factory Atol. In the UMP stronghold – 71% of the vote Sunday in the township – the Minister of Economy had come to speak “industry”. Warm hug to the boss of the cooperative, Philippe Peyrard, exchanged a few words with the students came to welcome the Minister – “too friendly” – shaking hands with elected officials, Macron, serene, followed to the letter the program set for this first day of the “Industry Week”:

This is the first day of the week from the industry. This is an important week, especially in the context of ours because the story we are writing together, and we must write for the country, is the French re-industrialization “a- he wanted to explain.

Right in his boots, as if the debacle inflicted on socialist was not about Emmanuel Macron, as Arnaud Montebourg two years ago, has therefore focused on this booming business who chose to relocate its production entirely in France.

“On n not stop a policy after 18 months, “

godsend for the minister who never tired of admiring, discreet fitting in support, new connected glasses” Teo “Atol . “Better than the ‘Google glass”, boasts the COO” since we were real glasses and add additional services. “

You see that with a simple object like glasses one can consider a production for 10 years! “adds the minister, happy to talk about the future.

For if it is a message that Emmanuel Macron intends to pass today as well as the need to re-industrialise the country and innovate, it is this: a policy, as a business, is not built in a day:

“France has lost, we know, many industrial jobs in recent decades. There was in many sectors a significant drop. It is dammed in recent years. When dams fall, it is not seen at the beginning (…) “, he has reminded the end of his visit workshops He added, for those who continue to put on the wrong glasses.

This is the first message I have this morning. It does not stop a political pretext that after 18 months we would not have the first results and we would insufficient results. “

” Start of reforms by the summer “

Clearly, the reforms he initiated will continue, and the election results not change that. Better, he announced to the press in the TGV which brings him to Paris, it’s now or never to put a boost to enjoy the thrill of growth. Initially, Emmanuel Macron promises to ensure that the implementing decrees of the law for the growth and activity are taken quickly in July to work on Sundays or public transportation for example, and the rest before the end of the year. Finally, this summer promises new measures:

It should launch by the summer to continue reforms that both the release of the French economy and speed. ”

The program therefore a “Macron 2 law” to promote digital entrepreneurship, supporting SMEs and VSEs “very pragmatically” and boost private investment.

And in terms of purchasing power, it will take. The Minister refused to give false hope. The money that companies have recovered thanks to the reduction of expenses “should be used,” he will -it hammered “to boost economic activity, hire and invest rather than to increase wages and increase dividends.”

Promise of purchasing power when 10% unemployment is free themselves from reality, “he was pissed.

To see life in pink, the French will still be able to buy … glasses!


MoryGlobal closes – FranceTV info

March 31, in the morning, the employees were MoryGlobal mobilized by a dam in Nantes. This action of last resort will be worth nothing. The Bobigny court delivered its verdict in the evening. 2150 all employees are unemployed. “This is the end, it’s weird, especially a box like that, we would never have believed it could stop” , told France 3 Nathalie Birch, employee of MoryGlobal.

A year ago, the bankruptcy of MoryDucros had already resulted in the elimination of 2,800 jobs. MoryGlobal of the employees had been spared and kept the hope of saving the company. “We have done everything to work. For twelve months, we have raised our sleeves to try to meet the business and put us out after twelve months. Thank you, break you, there is nothing to do “ says one employee of the company. “so much time is spent to fight and we feel it’s going to stop. I do not want it to stop, they do not realize all these lives they botched “, loose Julianna Macias also employed to MoryGlobal. The company will close on 30 April. Today, employees want to use the last months of activity for better redundancy terms.


The other subjects of JT

On the same subject


MoryGlobal in liquidation, 2,150 layoffs – Challenges.fr

“black day” for the MoryGlobal carrier. A year after his birth, justice delivered Tuesday, March 31 liquidation, with continued activity of a month that does not prevent the dismissal of 2,150 employees committed to “fight” for a social plan “worthy” .

The Commercial Court of Bobigny (Seine-Saint-Denis) decided, after a hearing in camera, to stop the slow death of the old number two French messaging, which he had placed in receivership on February 10 with an observation period of six months.

“This is a black day,” said the chairman of the tribunal, ordered the liquidation of the company, while allowing the continuation of the activity for a month, time to “carry out consultations with trade unions” and “make the redundancies of employees” of the company.

Fired for economic reasons, employees will receive their termination letters “late April” said Thomas Holland, lawyer of the works committee and son of the president.

” He will have to fight “

In the absence of takeover project result, the liquidation was” no doubt “, explained before the hearing Denis Jean-Baptiste (CFTC), secretary of the EC. “Now is the starting conditions of the employees it will have to fight.”

According to the union leader, “it will not be easy to find work. The area of ​​the Messaging is damaged, the transportation too. There is little hope reclassification among colleagues. “

” This is a huge mess, “sighed his side Jean-Claude Hacquard, CGT. “For a year, they made us believe that the activity was about to leave. It was the feeling of having been fooled by the shareholder” Arcole Industries, he said.

Born on the rubble of Mory Ducros (including Arcola also owned) placed in receivership in early 2014, MoryGlobal only took over 2,200 employees on 5000 that included the group. Despite this, the company has never managed to find the balance, losing about 43 million euros in 2014.

‘Rolled in flour

Believing he was ” rolled in flour “employees MoryGlobal demand a plan for safeguarding employment (PSE)” worthy of the name, “that is to say at least equivalent to Mory Ducros, according to Michel Ariba (FO).

“That means 25 million euros to find. Given the situation, it will be complicated,” a source close analysis of the file.

For the unions, which require that the sale of the Group’s assets (agencies, stored goods, vehicles, etc.) serve primarily to finance the social plan, she replied that “legally, it is not possible. ” But you can “waive the rule, with the consent of the court,” which is far from certain.

For now, Arcole Industries is conspicuously absent, according to the unions . According to them, the administrator would have expected that 3 million euros to finance the accompanying measures (reclassification leave, training, budget, etc.) and nothing for the additional redundancy payments.

On March 26, the state ordered Arcola “to assume its responsibilities and shareholder help finance the PSE,” accusing the group of not having “recovered now, despite the unprecedented support of government “.

Guest Tuesday BFMTV / RMC, Prime Minister Manuel Valls assured wanting to” find a solution for everyone “employees. The government “is working on a site plan for conversion and especially to find employment opportunities in the sector,” he added.

Judgment of rare severity vis-à-vis the shareholder

In February 2014, the state had granted the company a loan of 17.5 million euros, under the Economic and Social Development Fund (FDES), public aid which the subject of an investigation by the European Commission.

In a judgment of rare severity, Pontoise Commercial Court found a year later that “the main shareholder appeared to lose interest MoryGlobal the company’s restructuring project and its sustainability. ” And he “has put himself in difficulty” by taking € 7.5 million of cash to fund the MoryGlobal PES Mory Ducros, wonder judges, citing an “act of abnormal management.”

The unions will again be received Thursday at 17:00 at the Ministry of Transport, a week after the first meeting.

(With AFP )


Retail: Nestlé denounces pressures – Europe1

Europe 1

Europe 1

This is a shot of unprecedented mouth to an agribusiness giant. Richard Girardot, the boss of the French subsidiary of Nestle, moved violently taken at retail, in an interview with Le Figaro on Tuesday. He denounces the methods of large surfaces to obtain lower prices.

Distributors increasingly powerful . “We denounce a situation of abnormal competition: retailers pass on higher raw material for their own-brand products, whose prices rose 0.4% last year, and at the same time, they require major brands tariff reductions, some selling them products at a loss, “denounces the CEO.

The situation is even more skewed since the signs have merged their purchasing power as U system with Auchan and Casino with Intermarché. Faced with ever more powerful machines, losing a contract is like losing one stroke a presence in hundreds of store shelves. And according to the boss of Nestlé, the retail giants do not deprive themselves to raise the specter of a breach of contract.

Pressing “worthy of custody.” To get these price declines, Richard Girardot also talks of pressure “worthy of custody” made on suppliers, which passes through appointments isolated, late, or distributors play bullying. “If officers of the Directorate General for Competition, Consumer Affairs and Fraud Control (DGCCRF), or journalists, had surrendered Saturday, February 28 in the evening (legal closing date of negotiations) in the parking lot the purchasing power distributors, in the suburbs of Paris, they would have realized that something was wrong. What about a situation where the business is found at 23 hours waiting in a pen, subjected to a dignified pressure a custody? “explains CEO of Nestlé.

They are trying” to destabilize you. “ Brigitte manufacturer of wafers in Poitou, approached by Europe 1, does not say other things. “They arrive in a white box with a table and three chairs. The caller asks for your numbers, trying to throw you remembering everything that happened negative in your business. And you quickly announced that one of your competitors has had better results, he did better tests for tasting, it is wonderful, wonderful, wonderful. And you’re the big nase the corner. Some end up giving them their shirts and leave, “she said.

The CEO of Nestlé puts pressure on the competition authority, explaining that this pressure kills competition, precisely, suppliers are forced to fold. Large retail chains, as Europe has tried to call one, do for the time no comment on the charges

& gt;. & Gt; ALSO READ – Retail: how far will the price war

& gt; & gt;? ALSO READ – The Government places great distribution under surveillance


The liquidation will delete MoryGlobal of 2150 … – The World

Centre MoryGlobal carrier (ex-Mory Ducros) in Gonesse (Val-d'Oise), in 2013

This is one of the biggest social in recent years. The 2150 employees MoryGlobal (ex-Mory Ducros) are now fixed. The Commercial Court of Bobigny (Seine-Saint-Denis) pronounced the liquidation of the carrier, Tuesday, March 31 in the late afternoon

No takeover bid has been successful. – The main project , sketched by Malherbe Transport, which involved 141 people, was withdrawn at the end of last week – the settlement could be invoked immediately

In the Mail sector already over-capacity and very financially. fragile, MoryGlobal the situation, which was placed in receivership on 10 February, was without much hope. The carrier has suffered in 2014 a net loss of € 43 million.

The situation is even more critical that the state already called to the rescue in late 2013 is no longer decided back financially to the rescue. Although the Prime Minister, Manuel Valls assured Tuesday morning on BFM TV / RMC, as the government tries to “find a solution” .

Read also: MoryGlobal: combat fatality

“We will make social treatment organize a redeployment unit …” , is prevented in government. MoryGlobal assets valued at envron € 50 million, should be absorbed to finance the social plan.

A precedent already heavy social

Start 2014, after the collapse of Mory Ducros, former number two in the mail in France, it is in fact the intervention of the state, which had contributed to the creation of MoryGlobal the funds Arcole Industries has decided to resume activity.

This revival was made, however, at the cost of 2,800 job cuts (over 5000) and the closure of 35 branches of 85. This remains one of the largest social plans of the Dutch era.

In February 2014, Arnaud Montebourg, Minister of productive recovery, had agreed to pay a loan of € 17.5 million to the company, by the through the Economic and Social Development Fund.

Since autumn 2014, MoryGlobal, which was followed by the Interministerial Committee for Industrial Restructuring, benefited, from the state of a gel its social and tax debts. “Without that and factoring, the company has already closed” , provides a source.

Results continued to dive

What has happened since? While the messaging market stopped his fall last year, has seen its results MoryGlobal dive, while its competitors (Geodis, Schenker, Kuehne + Nagel, Dachser and Gefco Heppner) saw their results improve.

“We were in full recovery, gaining new customers, refutes Steward . We are viable! “. “With a number of legal proceedings and a development strategy misunderstood by customers, MoryGlobal sowed doubt, does indicate an industry expert. His loyal customers have decided to gradually diversify their risks and working with competitors, depriving it of the volumes. “

” The recovery was so random that MoryGlobal kept only the least reliable customers, those who pay the least, that pull prices down “, also points out a record of the connoisseur.

Shareholder and unions the buck

At MoryGlobal, unions and Arcola blame each degradation situation. Eric Martin, elected CFTC MoryGlobal, “the only culprit of this disaster is Arcola.” What is confirmed in FP, other union represented at the works council.

However, a specialist ensures the file, “Arcola had the job since filing balance sheet. But the company has failed to grow as expected. “ In fact, the turnaround funds reinvested € 17.5 million in the carrier, as he had promised to the state.

Arcola, it is the otherwise the unions that are responsible for the company’s collapse. In February 2014, elected CFDT Mory Ducros, then first union of the carrier, refused to sign the company agreement to implement social, as they had pledged to do so. Without this signature, MoryGlobal had to return in the summer of 2014 some 200 employees protected. To Arcola, this had a “huge financial impact” .

The Fund also indirectly takes the Commercial Court of Pontoise, which had allowed to resume Mory Ducros. This court did not sell three buildings, “empty and not necessary for the operation of MoryGlobal” , he said. The sale of these assets could bring € 25 million, which would have to extend the operation of the business, estimates the funds managed by André Lebrun.

“If Arcola n ‘ has not been able to sell these assets, it is because he withdrew € 7.5 million on € 17.5 million he paid to the company, refutes Steward of the company. The court authorized to sell these assets he restored before this sum … “

A boon for competitors

One thing is certain: for competitors to MoryGlobal, the disappearance of a player in the sector will be a godsend. “They have already benefited from deferral of revenues dropped by Mory Ducros to recover. The decision should further improve their lot “, provides expert.

It is about 250 to 300 million euros of activity that the company’s competitors would thus share, the disappearance of MoryGlobal to also help boost prices.

In this context, the MoryGlobal subcontractors, representing about 1,000 employees could expect to keep in business with other companies sector recover clients.


Unemployment, inflation: encouraging news but confirmed … – Liberation

The euro area recorded encouraging news Tuesday, with both lower unemployment and inflation takes a few colors, evidence that the massive debt buyback policy by the ECB to bear fruit, but economists remain cautious . until the trend continues

While inflation remained negative for the fourth consecutive month in March, but deflation fears now seem to get away: the annual rate at -0, 1% according to preliminary estimates released Tuesday, reported a sharp slowdown in the price decline after -0.3% in February and -0.6% in January.

A good point for the European Central Bank says Teunis Brosens, of ING Bank. To counter the risk of deflation, marked by a sustained fall in prices and wages that weighs on the economic recovery, the ECB began in early March a vast program of quantitative easing, or “QE”, which provides for the repurchase of more than 1,000 billion of public and private debt securities by September 2016.

“The ECB intervened effectively before the anticipated decline in inflation has time to turn into a deflationary trend in wages and prices and spread to the real economy, “according to Mr. Brosens. It is expected that energy prices have less and less to decline over the next few months and that inflation again become positive “soon.”

As for unemployment, the rate was down to 11.3% in February in the euro area, the lowest since May 2012. In February, 18,204,000 people were unemployed in the monetary union, a decrease of 49,000 over one month and to 643,000 over the year.

A new “fairly encouraging,” said Howard Archer of IHS Global Insight, which notes in particular that “the decrease from 329,000 unemployed from December to February is the most important over three months since April 2007 “

-. Need stimulants –

For him,” the euro area labor market has clearly improved growth in the first quarter 2015 “, besides” economic confidence has recently improved in all areas. “

But for economists, these encouraging trends do not mean that all the lights are green, far s ‘from it.

While unemployment has declined, but the European office of Eurostat also revised upwards, thanks to statistical revisions, the rate in January, now at 11.4 % versus 11.2% previously.

In general, “it remains historically high”, also tempers Jonathan Loynes of Capital Economics.

As for inflation It owes its evolution from March wholeheartedly to the evolution of its most volatile components: energy prices and food. The underlying inflation favored by economists as more representative of a trend, “fell from 0.7% to 0.6%, reaching a record low” says Jonathan Loynes.

“In general, among the recent signs of a slightly better growth”, the figures released Tuesday “a reminder that the euro area remains in a very fragile state, marked by high unemployment and very low pressure on prices, “said Jonathan Loynes.

” Clearly, the economy of the euro area still needs stimulants of any kind, whether from Frankfurt in the form of QE or in national capitals forms of reforms favorable to growth “says his side Teunis Brosens.


At Atol, Emmanuel Macron sees the future of the industry – Public Good

After the defeat of the Left in the Departmental Emmanuel Macron, Minister of Economy, visited on Monday the premises of Atol in Beaune (*). The opportunity to launch the Industry Week, on the theme of “the transformation of the digital industry,” but also to visit the manufacturing company glasses chain, including the future range “Teo “connected glasses 100% made in France, the minister had discovered at the Consumer Electronic Show in Las Vegas in January.

” French Reindustrialisation “

Emmanuel Macron,” Atol is a beautiful example of the transformation of industrial history. ” By choosing this company, the Minister of Economy advocated “the French re-industrialization”. “The history of Atol is illustrative and particularly illuminating what can and should be re-industrialization of the country. “Considering that it takes” a short time “, he expressed his intention not to stop a policy” on the grounds that after 18 months, we would not have the first results, or not enough results. ” “The consistency of economic policy is built over time, based on a strategy, we give visibility to all the economic and political actors, and a tenacious will, even when times are hard. “Specifying the industrial policy of the government, Emmanuel Macron praised the effectiveness of several devices that have been in place since 2012, including the” Tax Credit for Competitiveness and Employment (CICE) “and” Pact responsibility and solidarity “. “This is a sustainable strategy to reduce expenses and thus costs, especially labor. “The minister said it is” a need to help with the job “and” to give leeway to companies for employment and investment. “

According to Emmanuel Macron, investment in the industry allows him “to go upmarket and to conquer new markets.” “When the industry is changing, it creates direct and indirect jobs that are not those of yesterday. “He concluded, after stressing the importance of training young people, stating that it will continue” to accompany Atol in future developments [...]. “

For his part, Philippe Peyrard , Deputy CEO of Atol, was full of praise for the minister. According to him, Emmanuel Macron is both “facilitator”, “umbrella”, “amplifier” and “good analyst.” Philippe Peyrard estimates that the IECC has given “a healthy breath of fresh air” to entrepreneurs. “It allowed us to consolidate our jobs and continue to create many [...]. “Today, the company has” 250 employees, serving more than 3,000 opticians. ” In addition, for Philippe Peyrard, “the made in France should continue to boost France.”

(*) This was the 4 th After a few years qu’Atol was visited by a minister, after François Loos, Minister of Industry, in December 2006, Xavier Bertrand, Minister of Labour, in February 2012, and Arnaud Montebourg, Minister of Recovery production in August 2012.


The CEO of Nestlé France denounces the methods of the great … – The Tribune.fr

“We crashed our margins to continue to be referenced from distributors” who “came back to put pressure on us all year,” also overwhelming their own margins to decrease ” 7% prices on the leading products such as Ricoré or Mousline [...] To compensate for this effort, they have increased the prices of products sold under their own brands. “

So, the CEO of Nestlé France Richard Girardot, whose group is one of the leading suppliers of supermarkets in France, strongly denounced the methods of mass distribution in an interview with Figaro Monday, March 30

And adds:. Distributors “refuse to sign charters of good practices with industry, while we are signing with farmers”.

Richard Girardot recalls that the Competition Authority has still not ruled on the reconciliations between large retailers such Auchan / System U and Casino / Intermarché, which thus constitute ultra strike forces -puissantes with buyers.

“It’s been seven months since the first connections between central purchasing were announced and the Authority has not made its decision on the subject, letting the crucial period of the annual price negotiations, “insists the CEO of Nestlé France.

Enter the subject in November by the Minister of Economy and Emmanuel Macron the Commission of Economic Affairs of the Senate, she promised to give an opinion “in the first quarter of 2015,” , which ends Tuesday night.

“C is amazing! “, cries the boss of Nestlé France, adding that the Competition Authority is ” always quick to speak against industry. “


Monday, March 30, 2015

A Macron II law is scheduled for before the summer – Challenges.fr

The Minister of Economy, Emmanuel Macron, announced Monday a new law for the summer to “accelerate the recovery that is underway” bringing simplification measures for SMEs and the digital while boosting private investment.

“We must launch by the summer to continue reforms that both the release of the French economy and accelerate the recovery that is underway,” said Minister to the press after launching the industry’s Week in Beaune (Côte-d’Or).

This Macron II Act aims to bring “legal simplifications and regulatory “for SMEs and TPE. It should help the traditional sectors “to take advantage of digital is a lever for innovation and upmarket,” said he said in the TGV on his return from Burgundy, having visited an optician’s site Atol, specializing in the connected glasses.

The Minister also wants to “consolidate the French digital industry with measures of simplification”, which will be put on the table by the summer. They will be accompanied by “stimulus of private investment,” he said.

Fronde and 49-3

As for the law to growth and activity, known as the Macron law it wants to accelerate its implementation so that “the application is done as quickly.” It must be submitted to the Senate in plenary session from April 7.

Given the sling on the left side of his deputies, the government had to resort to Article 49-3 of the Constitution to pass on first reading on 19 February, the draft law Macron in the National Assembly.

The minister also said he was aware that the jobs, production sites and R & amp;. D Cement Lafarge remain in France after new questions about its merger with Swiss Holcim

“I ensure that R & amp; D, jobs and productive sites remain France. I will be very vigilant on this point, “said he told the press, after inaugurating the Week of the industry in Beaune.

(With AFP)


The rant boss of Nestlé France against the great … – Le Parisien

March 30, 2015, 10:19 p.m. | Update: March 31, 2015, 0:11

The pressures mass distribution are as according to him it is not uncommon for a “commercial is found at 23 hours waiting in a box, under pressure worthy of custody.” The requirements of distributors are such that the “margins” are “crushed” by the demands of the distributors. And to question the work of “policemen” of the Directorate General for Competition, Consumption and Fraud.

The leader says, moreover, that the distributors’ refuse sign charters of good practices with industry, while we are signing with the farmers. “

The Competition Authority takes too

Richard Girardot also criticized the slowness of the Competition Authority, which has still not ruled on the reconciliations between large retailers such Auchan / System U and Casino / Intermarché, ultra-powerful strike forces face buyers. “It’s been seven months since the first connections between central purchasing were announced and the Authority has still not made a decision on the subject, letting the crucial period of annual price negotiations,” emphasizes the CEO of Nestlé France .

Each year, the tariff negotiations take place between retail, industrial and farmers. In November the Competition Authority had been asked by the Minister of Economy and the Senate Committee on Economic Affairs to put in place safe- guards. She promised to give an opinion “during the first quarter of 2015,” which ends Tuesday night. “It’s amazing!” Again denounces responsabme Nestlé, which finds that the Competition Authority is “always ready to speak against industry.”

“We have crushed margins for continue to be referenced from distributors “who” came back to put pressure on us all year, “he says, as crushing their own margins to decrease” 7% prices on the leading products such as Ricoré or Mousline “. But at the same time “to compensate for this effort, they have increased the prices of products sold under their own brands.”

& gt; Come discuss and ask questions on our forums!


The CAC 40 started to sign its best quarter since … – Les Echos

The Paris Bourse continued to rebound today, reach, like all other financial centers by central bankers about intoxicating. While Friday night, Janet Yellen, president of the Fed, confirmed that the rate increase – which will act this year – will be done carefully, his counterpart at the Bank of China, Zhou Xiaochuan, reiterated yesterday that Beijing could do more to support the economy. This is also in the sense that the People’s Bank of China, concerned about the fall in property prices fueling deflationary pressures took targeted measures to ease conditions in obtaining housing loans.

“Yellen’s comments, like those of the People’s Bank of China, for markets to forge ahead” , tells Bloomberg Teis Knuthsen, head of investment banking division Private Saxo Bank in Hellerup, Denmark. “We have largely accommodative monetary policies around the world when the global economy is strengthening. “

The best quarter of the CAC 40 since September 2009

While Wall Street continues to regain some height, CAC 40 finished up 0.98% to 5083.52 points close to the affected almost seven years of record there ten days (5,106.04 points) in a volume of business 3.7 billion, below the average of the year. This week is a four-day week, Good Friday is busy on the financial markets on both sides of the Atlantic. They will be closed four days, Easter Monday is also a holiday. So much caution, especially since this is the last week of the quarter, on the way to be the best (+ 18.98%) currently on the Paris index feature) from one completed in September 2009 (+ 20.86%). This implies, anticipate several experts, investors may be tempted to sell some of their positions to ensure their profits, especially as Friday will be published very important official employment figures in the US for the month of March .

On the foreign exchange market, the euro back lower against the greenback and gives up 0.7% to 1.0814 dollar.

From this side of Atlantic, Greece is obviously in the news when the new list of reforms sent Friday to creditors (European Central Bank, International Monetary Fund and European Commission) remain too vague and they would not be ready to unlock using Financial close to 7 billion euros. According to an official of the Greek Ministry of Finance quoted by Reuters in this list, we would find such an estimate of revenue expected this year from privatization (1.5 billion euros against a previous target of 2.2 billion) and a proposal to create a “bad bank” using the unused EFSF funds to recapitalize banks returned to the euro zone in February (10.9 billion) and the reduction of retirement anticipated. Alexis Tsipras will speak before the Parliament’s plenary session at 19 pm Paris time (20 pm local time).

The confidence index, derived from five confidence indicators (the industry, services, consumer, construction and retail trade), however, continues to improve in the euro zone in March, according to data published by Eurostat. The economic sentiment index rose 1.6 points to 103.9, the business climate rose to 0.23, against 0.09 in February, and the measuring consumer confidence stood at – 3.7 points against 6.7 last month.

In Germany, consumer prices rose 0.5% on month in March, according to preliminary data from the Office Federal statistics, and 0.1% year on year. These figures are in line with analysts’ expectations.

In the US, consumer spending rebounded 0.1% in February, while revenue rose 0.4% against increases of respectively 0.2% and 0.3% expected. Housing sales promises are for their appreciated by 3.1% to 106.9 points last month, well above the 0.4% estimated by the market.

The merger between Lafarge and Holcim cement in danger again

Side values, banks, heavily weighted in the Cac 40, have greatly contributed to the rise of the day, even whether it is the auto stocks that close to the top of the table. Societe Generale , BNP Paribas and Crédit Agricole gained about 2%, while Kepler Cheuvreux raised its guidance on European banks to “overweight” . JP Morgan raised its price targets on BNP and SocGen.

Leading the Parisian barometer, Peugeot gaining 3.68% to 15.775 euros. The chief executive, Carlos Tavares, told Investing he will do everything to achieve profitability by 2% in the automotive division as soon as possible.

Alcatel-Lucent wins 3.43% to 3.524 euros. The telecom equipment manufacturer announced it has been selected by China Telecom as one of its main suppliers for 4G in 40 Chinese cities in twelve provinces.

STMicroelectronics garners 3 64% to 8.731 euros, while in Frankfurt Infineon lead of more than 4% amid expectations concentration in the semiconductor sector as a result of information Wall Street Journal under which Intel discuss the redemption of his Altera competitor for $ 10 billion.

Lafarge lost 1.93% to 60.41 euros, accusing her fourth consecutive decline. The Russian businessman Filaret Galtchev second Holcim shareholder with 10.8% of the capital, rejected the new terms of the merger between the Swiss and the French cement group, not quite favorable to the first, according to several sources press. To be valid, the merger must be supported by at least two-thirds of the shareholders of Holcim . In Zurich, the action of the Swiss cement fence on a stable rating (-0.07%).

Finally, the biotechnology company GENFIT , which had tumbled Friday, more than 44%, takes 15.79% 32 78 euros.


FN: the law ” Macron II ”, ” shopping list ‘of the EU – BBC

The vice-president of the National Front Florian Philippot accused the future Bill “Macron II” to be from the “shopping list” of Brussels.

Emmanuel Macron announced today a new law for the was to “accelerate the recovery that is underway” bringing simplification measures for SMEs and the digital while boosting private investment. “We must launch by the summer to continue reforms that both the release of the French economy and accelerate the recovery that is underway,” said the minister after starting the Week industry, Beaune (Côte-d’Or).

“We remember Manuel Valls went to Brussels there is a week he went to get shopping list of what it must do, it will result in Macron II law after law Macron I was already a resumption of all requirements of the European Union, “said the manager FN on BFM TV.


“Macron Act, notaries fear a tsunami in the profession


Macron II A bill introduced this summer – BBC

Minister of Economy announced a suite for the summer to its legislation “growth and activity,” which must be examined in the Senate in April.

While Macron law for “growth and activity” will be discussed in the Senate from 7 to 17 April, the Minister of Economy announces result for was to “continue both the release of the French economy and accelerate the recovery that is underway.”

This “Macron II” legislation will include new topics range “legal and regulatory simplification” for SMEs and TPE (part of which has already been presented), measures to “revive the private investment “and finally axes already mentioned in the bill of the Secretary of State for Digital Axelle Lemaire. Emmanuel Macron made the announcement of the acceleration of the timetable in the TGV back to Beaune (Côte d’Or), where he inaugurated the Industry Week (March 30-April 5) in Atol welcoming two and a half years after its predecessor Arnaud Montebourg, this “fine example of re-industrialization, in the heart of the recovery”.

The optician decided in 2005 to relocate its production to create 105 jobs in Burgundy. “Certainly, we have also invested in an assembly robot, which is the equivalent of about thirty people. But thanks to its productivity we could create jobs here rather than in Asia, “says Philippe Peyrard, general manager of the fourth network of opticians (€ turnover 390 million, 791 stores) . The employees of Beaune also agreed to work in 3 × 8, which ultimately helped make the mounting cost of glasses lower than in Asia ($ 5 against 6). The Minister took the opportunity to highlight the benefits of automation and urged the social partners to be more flexible in accepting such “wage moderation”, as in the different competitive agreements (PSA Trémery Renault Sandouville …).

Taking the example of new glasses connected Atol, developed with many partners and marketed in May, it encourages manufacturers to work more together to develop more high-end products and integrating services “creators of jobs in the industrial object.” The Minister underpin its advocacy for the “industry of the future” Friday by going to Gorgé including 3D printers allow production to demand.


UPDATE 2-France-electoral triumph of the right, left … – Challenges.fr

* The UMP-UDI would win 2/3 departments

* The majority was defeated “indisputable”

* No department for the FN, but elected ( updated with the results, reactions)

PARIS, March 29 (Reuters) – The UMP and centrists of IDUs Sunday won a landslide victory on the PS and its allies in the second round of departmental, depriving the left of its territorial supremacy with the conquest of at least two thirds of the departments.

The National Front, which seeks to strengthen its regional coverage for the 2017 presidential election, failed to transform the test of its success by the number of votes in the first round (25%): Vaucluse, in which he based his hopes, escapes him, and the Aisne, conquered by the UMP

According to nearly final results given Sunday night by the Ministry of the Interior, the FN has 62 elected county a total of 4,108 advisers.

Marine Le Pen welcomed “a crucial step (…) on the way of power. “

The extreme right, with eight elected (four for the FN, four for the Southern League) is in position to arbitrate Thursday” third round, “the election of the President of the County Council, in the Vaucluse, where left and right are tied with 12 councilors.

” If one of the applications demand the voices of the FN, we will make a Charter to which they must adhere to benefit from our voice, “said the Marion Maréchal-Le Pen MP.

Nicolas Sarkozy warned that any elected UMP tried to ally with the FN would be expelled from the party ..

A two French went to vote on Sunday, participation declined slightly compared to the first round

The sanction vote feared by the left in power happened: Nicolas Sarkozy which can take advantage of a political and tactical success on the road to “alternate” for 2017, wanted to take note of “a disavowal (…) without appeal” to the “most archaic socialism ‘ Europe “

Three symbolic losses. Correze department that led Francois Hollande 2008-2012, rocking right, and the Essonne, electoral stronghold of Manuel Valls and the Deux-Sèvres, stronghold Ségolène Royal.

Manuel Valls, who conceded defeat “incontestable” a left split, assured hearing the “expectations”, “requirements” the “anger” and “fatigue” the French “face a daily life too difficult.”

“I heard this message, their demand for results, my Government will continue to respond tirelessly,” said the Prime Minister announcing for “the coming days” new measures in favor of private and public investment.

But the entourage of Francois Hollande said Sunday night that there would be no change of course .


The new map of France with departments confirms the breakthrough of the right, which had topped the first round.

According to CSA, UMP-UDI-UC-modem win 68-69 of the 98 departments involved, the left 29 to 30. Ipsos-Sopra Steria evokes meanwhile 65-68 departments to the right, from 32 to 35 for the left.

The left departments controlled 61 of the 102 departments, against 41 to the right before the election.

Bouches-du-Rhône, Reunion, Mayotte, Ain, Cher, Eure, Jura, Seine-et-Marne, Doubs, Creuse, Isère, Drôme, the Somme, the Saône-et-Loire, the Territory of Belfort, Oise, Creuse, the Allier (lost by the Communist Party which keeps the Val-de-Marne), Pyrenees-Atlantiques, in particular, were conquered by the right. Only the Lozère misses to the left.

“Never under the Fifth Republic, our political family had won so many departments”, welcomed Nicolas Sarkozy. “It’s lies and denial, is powerlessness that were punished,” he added, opening unambiguously pre-campaign for the 2016 primary right.

“The win tonight back to all those who have made the choice of the group,” he began, attention including its main rivals (Alain Juppé, Fillon …) and try a jumper alone.

THE “slingers” challenge VALLS

The former head of State announced that the UMP, the refounding congress will take place on May 30 in Paris, hasten writing his alternating project. “A new stage of renewed hope for France,” he said.

Anxious not to be left behind, Francois Fillon responded shortly after its declaration emphasizing the need for an alternate project “radical break” in line with its economic proposals “Thatcherite” he opposes including reformism “cautious” Alain Juppé.

The Mayor of Bordeaux has also taken time welcoming at the same time “the victory of unity”, but also “the UMP alliance strategy, UDI and Modem” he claims despite the animosity towards Nicolas Sarkozy Francois Bayrou.

Francois Hollande and Manuel Valls, who hoped to limit bleeding, are now under pressure from the “rebellious” who published Sunday evening without waiting for a joint statement as “a gathering of contract.”

“Without genuine changes in policy, without renewal of the practice of power, the dispersion of the left will be irreversible,” they write.

Martine Aubry, whose department, the North is lost, lamented for his part a “protest vote over national policy” that “deserves analysis.”

The Head State warned in before March 22, he does not infléchirait the political line, whatever the result, it would maintain Manuel Valls, bane of the “left of the left” at Matignon. (Sophie Louet with Service France, edited by Yves Clarisse)


USA: Fusion $ 13 billion in health insurance – Boursorama

The transaction between Catamaran and UnitedHealth reflects the large current upheaval in the health insurance sector in the United States since the adoption of the Obamacare law (Getty / AFP / File / Joe Raedle)

The transaction between UnitedHealth and Catamaran demonstrates the great upheaval taking place in the health insurance sector in the United States since the adoption of the Obamacare law (Getty / AFP / File / Joe Raedle)

In response to soaring prices of new generation of drugs, the US health insurance group UnitedHealth signed a check for nearly $ 13 billion on Monday to offer his fellow Catamaran, one of the big managers treatment of reimbursements to the United States.

UnitedHealth will marry his new take with her OptimumRX subsidiary. The merger is an attempt by the insurer to regain control deal with biotechnology companies whose therapeutic innovations revolutionizing some areas.

The prescription drug reimbursements managers help indeed employers and companies’ Medicare reimbursements to manage and control costs by negotiating discounts with pharmaceutical companies.

But the big profits UnitedHealth as his peers are becoming eroded by invoice rebates the so-called “revolutionary.” This is the case in hepatitis C in which new molecules heal better with fewer side effects than conventional products.

The expensive cost of these new molecules that block the action of proteins essential for the replication of hepatitis C, derailed health spending and limit access.

The Sovaldi and Harmoni of the US biotech Gilead Sciences are each between 84,000 and 95,000 dollars per treatment.

Express Scripts Holdings, the first company to medical prescription, decided in January not to cover these drugs it considers more expensive than that of AbbVie (Viekira Pak, 83,320 dollars treatment) newly approved by health authorities.

In France, treatment of hepatitis C have cost 650 million euros to social security in 2014. The original bill was expected to be 1.2 billion euros but an agreement on the price of Sovaldi between Gilead Sciences and the French government helped to reduce it.

“We are confident that the combination of the two companies (OptimumRX and Catamaran) will create value for health programs, government, hospital administrators and employers insured and more for individuals who depend on us for affordable pharmaceuticals, appropriate and fair, “said Larry Renfro, CEO of OptimumRX cited in a statement.

On Wall Street, the title UnitedHealth jumped 3.22% to 121.81 dollars to 2:20 p.m. GMT, while Catamaran soared 24.13% to 59.98 dollars closer to 61.50 dollars per share offered by its purchaser

-. Lower expenses –

By putting hands on Catamaran, UnitedHealth creates an entity managing a total of 1 billion prescriptions Medical on behalf of nearly one hundred million members.

Catamaran managed 400 million prescriptions (ie a five prescription in the United States) in 2014 and OptimumRX 600 million.

UnitedHealth intends to influence the new generation of drugs market which is increasing: from $ 100 billion in revenue in 2014, it is expected to rise to 400 billion in 2020, according to the insurer

The new OptimumRX-Catamaran entity should allow. offer customers improved service through the operation of demographic, UnitedHealth promises.

To do this, the group will combine the technology platform catamaran with the data and capabilities of OptumRx analysis.

The combination of the two companies should also afford to economies of scale and improve the services offered to clients.

Eventually, UnitedHealth hopes to reduce expenses by consolidating orders and administrative services.

The transaction demonstrates the large current upheaval in the health insurance sector in the United States since the adoption of the Obamacare legislation to expand access to health care for Americans.

Express Scripts with $ 1.3 billion prescriptions launched the maneuvers in 2012 by merging with Medco Health Solutions for $ 29.1 billion. The other major player in the sector, the CVS Caremark Group, has not budged for now.


Kingfisher waives buy Mr Bricolage – The World

About sixty Mr Bricolage stores were threatened from a total of 797 (mostly free), higher than what was anticipated in the French camp at the beginning of the negotiations.

The British group Kingfisher, Europe’s leading DIY and already owns Castorama and Brico Depot in France, announced on Monday, March 30, the failure of its proposed acquisition of Mr Bricolage.

The operation, in the amount of € 275 million, could not get in time the necessary authorizations from the competition authorities and, above all, she was challenged by the ANPF a franchise network, which is the largest shareholder of Mr. Bricolage.

The majority of the board of the French group expressed last week, reserves the divestments proposed by Kingfisher at the Competition Authority. According to a source in one of the two groups, this denière – she has not officially delivered its final verdict – would have required a number of “cures” to limit the dominance of the new group, whose stores.

Sixty should have been sold, mainly for franchisees. Or the 797 stores that account Mr Bricolage in France, only 82 are called “integrated”, that is to say, they belong to the company, the rest being exploited by small employers who join the group to benefit from its benefits.

Thursday, March 26, Kingfisher had indicated that “without the consent of Mr. Bricolage (…), could not be fire green competition authorities to finalize the transaction. “ Friday the ANPF also refused any extension of discussions beyond March 31

Read also:. Mr Bricolage about to give up marrying Kingfisher

In a statement Monday, the European leader in the DIY and interior design ads that “accordingly the transaction will not be completed” he repeats consider “all options. “


The Paris Bourse expected to rise for several statistics – Le Point

The Paris Bourse is expected to open higher Monday, confirming Friday’s rally in anticipation of several indicators in the meeting whose inflation figures in Germany.

The futures contract on the CAC 0.18% 40 took forty minutes before the opening of the session.

On Friday, the index in Paris was revived after two days of declines, taking 0.55% to 5.034, 06 points.

Similarly, Wall Street finished in the green before the weekend. The Dow Jones gained 0.19% and the Nasdaq 0.57%.

The CAC 40 is expected to continue its march forward at the start of a shortened week as the market will be closed Friday at occasion of the Easter weekend.

Investors may at the same time taking little risk in two days of the end of the quarter after a record start to the year, with a jump of nearly 18%.

The markets could be supported by ludi “about accommodating” central bankers, especially in China, says Jasper Lawler, analyst at CMC Markets.

The Chinese central bank (PBOC) “must exercise great caution and vigilance” against the risk of deflation, insisted Sunday his governor Zhou Xiaochuan, reflecting the ongoing concerns of the institution at the deterioration of economic conditions.

Meanwhile, the US markets have not been affected by the speech delivered Friday by the president of the US Federal Reserve (Fed) Janet Yellen, which “seriously considering” raise interest rates this year.

Monday’s session will be marked by several statistics, starting with the inflation figures for March in Germany.

“Given the indicators published recently, there may be signs positive “in these figures, says Stan Shamu, an analyst at IG.

The latest publications, including the activity indices suggest a gradual improvement in the economy in the eurozone, especially in Germany.

The market expectations of a European economy in better shape has also been one of the drivers of rising stock market indices in recent times.

Several indicators will also followed the United States, with expenditures and household incomes for February, economic activity in the Chicago area in March and housing sales agreements for February.

Finally, investors remain attentive to the situation in Greece, which “seeks to put in place reforms to continue receiving loans” international, says Shamu.

The Greek Prime Minister Alexis Tsipras expressed confidence Sunday in a “happy ending” of the ongoing negotiations with creditors who continued Sunday to sift through the list of reforms to be presented Athens.


TOTAL sells for $ 569 million share in a developing block in Nigeria.

Vivendi sent a letter Friday strongly warned the US fund PSAM, one of the shareholders of the group, which is trying to influence the strategy of the Management Board chaired by Arnaud de Puyfontaine, citing a potential lawsuit against him.

For its part, the US fund PSAM shareholder group that tries to influence the strategy of the management board, denounced intimidation against him, in a letter dated Friday and Saturday received by AFP.

ARCHOS its loss widened to 13 million euros in 2014, against 1.4 million a year earlier, but in return to profitability this year.

Jacquet Metal Service announced the acquisition of special steel distribution subsidiaries of German steel producer Schmolz + Bickenbach in Germany, Belgium, Austria and the Netherlands.

PHARMAGEST reported net profit up 7% over the year 2014 and almost stable activity, particularly due to the abandonment of certain unprofitable activities.

jbo / fka / php





Schmolz + Bickenbach AG


3/30/2015 8:34:44 – Paris, March 30, 2015 (AFP) – © 2015 AFP


Business leaders and private sector employees not very optimistic – Boursorama

The business district of La Defense near Paris, May 5, 2011 (AFP / Archive / Joel Saget)

The business district of La Defense near Paris, May 5, 2011 (AFP / File / Joel Saget)

Continued employment, higher wages, economic development: business leaders and private sector employees are not very optimistic about the future of their society, according to an Ipsos for Cesi, released Monday Le Figaro.

Business leaders are pessimistic about their ability to hire in the next six months (84%) or a salary increase for staff (65%).

Their employees also lack confidence. A large majority of them believe that the company will not increase their salary (76%) or can not hire (69%)

In terms of economic development of the company’s business sector, employees are more optimistic (52%) that their boss (32%).

When asked about various reforms that could be put in place in France, bosses would be “a good thing” the removal of 35 hours (75%), employees themselves are more mixed (44%, . 46% against)

On the development of the Sunday work, a component of the Macron law, business leaders are divided: 39% believe that it is a “good thing”, 35 % a “bad thing.” Conversely, employees are the majority (52%) think that it is a good thing, 37% think the opposite.

As for the establishment of a single employment contract instead of the current CDI and CDD, 60% of employers and 39% of employees would see a good thing.

The idea of ​​a retirement age back to retirement is rejected 44% of employers and 70% of employees, the abolition of the minimum wage was rejected by 54% of CEOs and 77% of employees.

This survey was conducted from 22 January to 3 February with a representative sample of 1,001 private sector employees (internet) and a sample of 401 business leaders (by phone).


Tough negotiations between Greece and its creditors in Brussels – Le Figaro

Meeting in Brussels throughout the weekend, Greece and its creditors led tedious negotiations. The reforms proposed by Athens are too vague. Greece could end up defaulting on 9 April.

The tension rises increasingly between Athens and Brussels. Gathered in the European capital throughout the weekend, Greece and its creditors (European Central Bank, International Monetary Fund and European Commission) conducted tedious negotiations on reforms that Athens must implement to receive help of $ 7.2 billion. The chances of reaching agreement on a final list of reforms on Monday, remain slim or no. “There is a willingness to talk. But in concrete terms, the negotiations are difficult, “admitted Sunday a European diplomat. Before insisting on the fact that the reform proposals are “waves”, while creditors want “concrete and operational proposals”.

The Greek government has indicated that its proposals, s Striker including the fight against tax evasion, would increase state revenues 3 billion and bring a growth rate of 1.4% in Greece in 2015. And he opposed new “recession measures” as a reduction of wages or pensions, various Greek media reported. But in Brussels, it continues to insist on the implementation of credible fiscal reforms, the issue of privatization or on measures, for example, the retirement age.

For now, “Greece is focused on social measures” and remains evasive on issues of interest to creditors, a European diplomat assured Sunday. “The best thing would be to continue technical discussions” and that Greece submits its final list of the latest reforms. And not on Monday as Athens hoped.

When the list has passed the three institutions, it will then be forwarded to the Eurogroup Working Group for consideration. The latter could meet by teleconference Wednesday if, and only if, proposals for concrete and credible reforms are on the table before. Once this is done, the file will be submitted to the finance ministers of the euro zone for approval. For now, no Eurogroup meeting is scheduled. It all depends on Greece “only moves in extreme cases,” do we insist in Brussels.

Tsipras government is in a very difficult position. It is accountable to the voters who said ‘no’ to austerity. At the same time, he wants to get the green light from its European creditors to receive financial assistance under the assistance program, and so avoid possible default. Greece could indeed do not have sufficient liquidity from the 9th of April. Still, nothing is very clear on this point. “The liquidity situation in Greece remains unclear, the data changes all the time,” say some observers. According tidibits, Athens could still find money until mid-April …

In addition, the final list of reforms will be sufficient to allow Athens to receive At least part of the 7.2 billion help? Here again, the information is confusing. Some European sources stress the need for concrete progress, such as the adoption of some laws.