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Greece has more than two billion euros in its coffers. It is little, if it wishes to continue paying the salaries of its 800,000 civil servants – who were only 400,000 in 1981 to the arrival of the ruling Socialists. To meet its deadlines, the State was to receive in June a slice of eight billion euros of European interest loans. Under the agreements signed, this tranche would be released only after a finding by representatives of the Troika (ECB, IMF, EU) promised that structural reforms were indeed made. As the country is paralyzed by its electoral process since two months, nothing has been done. The financial situation of the Hellenic Republic is particularly critical, and could be declared bankrupt soon June 30

During the week following the elections on May 6, the only ones who seemed not to realize that the country was on the brink policies were, obsessed with their electoral interests. And Alexis Tsipras, the local Mélenchon, who polls promised an increase of his party Syriza three points for a new vote, has consistently refused to make any concessions that would allow a government to obtain a majority in Parliament. "The question now arises that history to each of our politicians is: its priority is it the future of Greece or only the electoral future of his party?", Told us Monday afternoon, the political journalist George Vlavianos.

Fortunately for the country, there is a man who understood that Greece could not afford new elections and the need to try everything to find him a government: President of the Republic payday advance. Skilled negotiator – he was foreign minister from 1985 to 1989 and from 1993 to 1996 – Karolos Papoulias on Monday night proposed a new idea to the leaders of three parties of the center of the political spectrum – PASOK, New Democracy (ND) and Democratic Left (GD) – he had summoned in his office: the formation of a government of technocrats. Fotis Kouvelis, the head of GD, has one condition: an ecumenical support in Parliament, which would include the leftist Syriza.

As he is not sure Tsipras, whose office is decorated with a portrait of Fidel Castro agrees to support such a pro-European government, President Papoulias has reserved two options for the day Tuesday, May 15 At 13 hours, he will receive one on one, Kamenos, the leader of the nationalist right-wing party of "Independents" to try to snatch a possible participation in a government with PASOK and ND. But at 14 hours, he summoned the leaders of the five parties representing the new Greek electoral spectrum – with the exception of KKE Communists and neo-fascist Golden Dawn – to offer them support in Parliament a Government technocrats.

Clearly, this second option, if it was validated, would be better able to calm markets and reassure a little bit of a troika increasingly exasperated

.

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Inflate his resume … "inadvertently"? It is possible, according to Yahoo!, which has adopted this line of defense when one of its shareholders accusing its CEO had lied on his resume.

The investment fund Third Point, which is mounted to 5.8% stake in Yahoo! in a few months, denounced in a letter to the Board an anomaly on the resume of Scott Thompson, CEO of Yahoo! since January.

In the financial records of Yahoo!, Carol Bartz's successor is introduced as a degree in accounting and computer science from Stonehill College. Now the university has begun offering this course in 1983, four years after Scott Thompson finished his studies there!

For Third Point, this embellished resume "undermines its credibility as an expert in technology" and gives a poor impression when his "character" bad credit personal loan lenders. Incidentally, it also tackles the activist fund board, which would not properly investigated and considered the nominations for the position of CEO.

The risk oversight, however, be difficult to argue, to the extent that this error has been made several times on the resume of Scott Thompson. Previously President of the payment service Paypal online, a subsidiary of eBay, it is always presented as a computer science graduate of the Australian editions of these two sites

.

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Ferrero will have to pay for providing the Nutella to American children. The manufacturer of the famous chocolate spread, which is the subject of a class action lawsuit brought by a California mother who did not know that Nutella was so bold, will indeed come out the checkbook to settle the case. He agrees to pay up to $ 4 for every jar of Nutella purchased in California between August 2009 and January 23, 2012, or the rest of the United States between January 2008 and February 3, 2012. The agreement does not include the rest of the world.

Consumers should send their application before July 5 (a maximum of five pots), four days before the courts definitively validate the regulations. The group will pay a total $ 3.05 million.

"Shocked"

Athena Hohenberg, mother of a child in San Diego, had made the dough, nutty taste of the main element of his son. She said she was "shocked to discover that Nutella was neither healthy nor nutritious food, but it was barely better than candy and it contained dangerous levels of saturated fat." In its complaint, filed in February 2011, it considers that promotes Ferrero Nutella as "an example of a balanced breakfast and delicious" and paste "healthier than it actually is creditreport."

Following this case, Ferrero USA is committed to "change some statements on the marketing Nutella" and better detail its nutrients, according to the text published on the site nutellaclassactionsettlement.com. "We think it is in the interest of the company to resolve these issues," said a spokeswoman for Ferrero.

The complaint of Athena Hohenberg, however drawn criticism in the local press. The LA Weekly and advises to "procedural mothers of California" to behave responsibly. "Try to make yourself snacks for your children. A jar of Nutella, occasionally, do not hurt, if you feed your children properly. And it's so good spread on a pancake, "concludes the paper.

(With Agents)

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The auction winner will take over the shares of Bridgepoint funds (57% stake) and Apax (20%). Alain Afflelou he has planned to stay in the capital. It could even slightly increase its stake, now 22%. "This component has not yet been decided, it will depend on the nature of offers and future discussions with the fund that will prevail," says a close case.

The group, which produced last year a turnover of 785 million with 1,083 franchised stores, is valued around 800 million euros by connoisseurs of the file. To finance the purchase of three quarters of the capital, the next owner will have to fund raise around 300 million euros of debt. A challenge in the current, extremely volatile. The transfer operation, organized by the Banque Rothschild, commissioned last year, has proved complex enough to induce sellers to be cautious. "Bids are expected soon, said Didier Pascual, Chief Executive Alain Afflelou. But nothing is decided yet. The hypothesis of the IPO will remain open. "

A founder ubiquitous

The way back on the stock exchange, which would switch to vendors, if possible in the fall, when tenders found attractive can, was long regarded as the preferred option of management group, and especially its founder. Last June, Alain Afflelou Echoes indicated to not want a new leveraged buyout (LBO).

The entrepreneur has long maintained a difficult relationship with investment funds that have succeeded in the capital of the group. Starting with Alpha-Marine-Wendel, entered in 1997. By 2000, Alain Afflelou decides to regain control; with funds Apax, he released Alpha, which doubles his bet. The group then returns on the stock exchange, before leaving in 2008. Meanwhile, Bridgepoint has taken over half the capital in 2006, in a transaction valuing the company 500 million euros.

But the tone rises rapidly from Bridgepoint and Alain Afflelou, who wishes to provide for the succession of the leader, now aged 64. After months of arm wrestling, refereed by Apax, the owner agrees to step back and became chairman of the oversight committee in the summer of 2010. But the chief executive then hired a former McDonald's has to pack up five months later, before being replaced by Didier Pascual. Alain Afflelou is known internally for its ubiquity and influence. And there is the muse of the brand in advertising the group, making it unavoidable. Bain Capital and Lion Capital, the next business partner, will address these sensitive issues.

His basic model is a marine motif declined over a tank. But the bit of blue and white Little Marcel preferred the colored stripes printed on a black background on which lies the mark in writing schoolboy.

Imagined in a store of ready-to-wear Grau-du-Roi (Gard), this "Marcel" knows a great climb since its inception in 2005. Now available in 1,500 outlets across the Hexagon, the idea was originally that of a gift for his partner Eric Schieven Linda Leseigneur. A present that had not fatally destined to be reproduced on an industrial scale.

Owned by the couple creator, the company KLS, which operates Little Marcel, employs 45 people and develops, six years after its creation, a turnover "of about 20 million euros, up 20% the previous year, "says commercial director Michel Levy.  

The South, a laboratory

In recent years, the catalog has been enriched and Little Marcel did not remain a prisoner of style nautical wear "left (his) signature." Offering various reasons, always colorful, the brand gingham dresses, swimwear polka dot … Distributed only in stores ready-to-wear at a price of "25 to 35 euros per t-shirt," she wishes to open signs his name in seven cities on the Mediterranean coast and Atlantic to accelerate its development model. All without external capital. "Without the staff, the installation of a shop costs around 300,000 euros," says commercial director.

"The South is our laboratory, advance Michel Levy. The idea is to open stores in areas where we have a mind awareness. "Thus, Hossegor (Landes), Bandol (Var) or Palavas (Hérault) should see the arrival of a store Little Marcel by the summer. "We first want to show us where the season strong on our brands work best, that is to say, in fine weather."

Therefore seasonal stores, an area of ​​100 to 150 square meters, that KLS develop its own before running franchises. "Let's say that eventually a 50-50 mix is ​​a good balance." If the sign function, with an estimated turnover "at the beginning" of € 500,000 per store, "thirty stores are expected to emerge in both years. "

Installed to date on the fishing port of Le Grau du Roi, the warehouse in Little Marcel, whose textiles are machined in Portugal, is planning to move a few miles away in the town of Aigues-Mortes. Soon it will invest a storage center 4000 sqm, against just over 1000 today.

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So that was played Saturday night clasico the FC Barcelona-Real Madrid, it's another training professional football in the city, Espanyol, who spilled the most ink in recent weeks. As the euro area, the club is indeed great lengths to put its finances. Last March, the boss from July 2011 to the current tenth of the Spanish league first division, Ramon Condal Escude, did not hesitate to explain that he would put his players on the transfer market at the end of the season, to bail out instant payday loan. For RCD Espanyol, it's nearly a million casualties in 2011 and a debt of 148 million euros (nearly 69 million euros to the Spanish tax authorities). Abysmal, while the club budget fluctuates from year to year between 40 and 45 million euros.

Fiscal austerity

Ramon Conde, head of the Catalan club and "Merkel football"

With over 62,000 franchised units recorded at the end of 2011, for a turnover of 49 billion euros, the franchise remains a dynamic sector in the economic universe French. According to statistics from the French Franchise Federation (FFF), which holds up to Wednesday night's annual meeting at the Porte de Versailles, 92 new franchise networks were launched last year (for a total of 1569 ). However, some areas are most promising and lucrative than others. Especially, new areas, some surfing very clearly on the crisis, appear and arouse vocations, especially since in their general admission tickets are more affordable.

Overall winner, the 7313 claim services auto franchises across 61 networks. Midas (315 service centers, fast), for example, announces the hiring of 50 franchises this year (either by creation or by recovery sites). Candidates must, however, an investment fund of between 160,000 and 250,000 euros, with 30% minimum down payment. Short-term rental is also dynamic with Rent a Car (480 stores including 200 franchisees) which expects 10 new franchises this year, while Ada is a net balance of 20 openings (for a total network of 480 agencies) .

Ten franchises for over Legendre

Another promising sector, fast food, where we no longer launches, which counted at the end of last year franchises for 3740 123 networks (20 more in a year). One example, Subway, the specialist sandwich and salads, has announced no fewer than 90 new restaurants in 2011, crossing at the same time the 300 units operated under franchise in France. Among the newest signs, Basil & Co, a concept of takeaway pizzas (entrance fee to 60,000 euros). In catering to themes (1101 deductibles and 79 networks), the time is in development with Memphis Coffee, which provides a dozen openings this year with a target turnover of 20 million euros. As for La Boucherie, it plans 20 new restaurants this year (including 10 free) and will recruit 350 people. In total, the company has 83 restaurants for a turnover of 83 million euros.

In the services sector, the academic support stand. During the Legendre who launched the franchise last year with a target network of 50 agencies in 2015, currently has ten franchises (including Toulouse, Pau, Bordeaux, Lyon, Annecy or Saint-Etienne). "For the first year of operation, the agency is a forecast of around 200,000 euros in business volume on average, for the only activity being at home," said Olivier Gresse, marketing director. During the Legendre in 2011 showed a turnover up 13 million euros (+10%) and this year expect a growth of 10%. For its part, Anacours (4.9 million euros of turnover) announces ten new franchises in 2012, while during Ado (23 agencies, including 3 branches), provides eight openings free.

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Portugal has won its third review against its creditors. The troika (EU, IMF, European Central Bank) will be able to unlock a new tranche of aid to € 14.9 billion to be added to 38.2 billion already paid a total of 48, 8 billion if we subtract 4.3 billion earmarked for the recapitalization of banks. "This positive result demonstrates our ability to implement a demanding program," welcomed the Finance Minister, Vitor Gaspar.

Third country to benefit from a bailout after Greece and Ireland, for a total of 78 billion euros, Portugal seems to fare better than its neighbors, even though the government admits it will experience recession of 3.3% this year instead of 3% as initially planned.

In fact, it relies on the good performance of exports despite the crisis. Lisbon was able last year to reduce by 25% through its trade deficit up 15% of its sales abroad. Portugal has also continued its privatization program.

Challenges persist

The airline company TAP and airport operator ANA will be placed on the market very soon. The country has sold 21.35% of Energias de Portugal to China Three Gorges to 2 online cash advance.7 billion euros and 40% of its electricity distribution network to REN Chinese State Grid and Oman Oil for 592.2 million . Transfers of the State also concern the post office, bank Caixa insurance and freight of the national railway.

The aid plan "on track" even if "challenges remain", the judge troika. And Prime Minister Pedro Passos Coelho rejects any possibility to find themselves obliged to seek an extension. Portugal does not require "no more time or more money," he promises.

Only downside, unemployment continues to explode. He had reached a record 14% in late December, even hitting 35% of youth aged 15 to 24 years. Figures deemed "unacceptable" by the Minister of Economy, Alvaro Santos Pereira. And who said the secretary general of the main union confederation that the troika mission "is not helping the Portuguese but rather to help the markets."

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The tone rises between Orange and Free Mobile. Both operators have had a long meeting Tuesday afternoon on their roaming contract. Neither party did not wish to comment. This contract allows Free Mobile, which has pledged to cover 27% of the population with its own network, using the Orange network for the remaining three quarters, pending the gradual ramp-up its own infrastructure.

But Orange claims that 90% to 95% of calls made by customers Free Mobile currently go through its network. "The rise of Free Mobile Traffic is bigger and faster than had been anticipated and announced by Free. When you put these offers on the market, is expected to be some demand. There was a big underestimation on the part of the Free ", on Tuesday said the CEO of Orange, Stéphane Richard, on lepoint.fr.

"We manage the network from day to day, but it is in the interest of both parties to adapt the forecast, because the situation is not entirely satisfactory. We're open to our partner Free, and we will talk together. I hope we can ensure that the agreement can continue, "he said. Free Mobile home, he denies any tension or psychodrama, saying it is normal discussion between two partners.

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The automobile market in France falling off again. After rising 2.8% in October, new car registrations fell by 7.6% in November to 179,160 units, according to figures of the Committee of French Automobile Manufacturers (CCFA) on Thursday. The many business operations that had previously provided support for the request do not seem to great effect.

French manufacturers are particularly lagging behind. Sales were down 11.5% in November against a decline of 2% for foreign manufacturers. PSA Peugeot Citroen has suffered a decline of 15.4% over the month due to a decline of 23.4% of sales against 4.9% for Peugeot Citroen. His rival Renault suffered a decrease in sales of 7.2%. The group manages to limit the damage with its Dacia brand, which recorded a 26.9% jump in sales in November against a decline of 13.8% for the Renault brand.He then said that the Franco-Japanese to be careful, particularly with regard to investments. PSA had for its part submitted a conservation plan in late October that passes not delete 6800 jobs worldwide, including over 4,000 in the Hexagon.

At the Paris Stock Exchange, the new integrated seem to investors. Renault won the title at 0.07% to 27.77 euros 9:40, in a market down 0.89%. The action Peugeot loses 0.90% to 13.71 side euros.

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