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		<title>Presidential: citizen initiatives relate</title>
		<link>http://schulemitbiss.com/presidential-citizen-initiatives-relate/</link>
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		<pubDate>Sun, 06 May 2012 16:08:04 +0000</pubDate>
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		<description><![CDATA[ 
 &#34;Vote and go anyway!&#34; Displays the travel agency Nouvelles Frontieres, &#34;Vote by proxy and win a free night for two nights and get&#34; diffuse the tourist office in Les Sables d&#39;Olonne, &#34;Voting is open its mouth but better &#34;placards at all is a sign of fast food in ten different languages, while the ski [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> &quot;Vote and go anyway!&quot; Displays the travel agency Nouvelles Frontieres, &quot;Vote by proxy and win a free night for two nights and get&quot; diffuse the tourist office in Les Sables d&#39;Olonne, &quot;Voting is open its mouth but better &quot;placards at all is a sign of fast food in ten different languages, while the ski resort of Chamrousse proposed his&quot; ski pass citizen &quot;and that the General Council of Essonne offered tickets to a rugby match to persons who have completed their duty to vote. In short, all the slogans that incentives, like ideas, no lack of originality in recent weeks. The objective is twofold: to reduce abstention but also generate additional revenue, or at least ride the wave of presidential elections.  </p>
<p> When the ballot becomes a ski day
<p> The tourist office in Chamrousse (Isère) has understood that he had a vested interest in dragging this track one: &quot;We decided to align the end of the ski season with the day of the first round of presidential elections , by implementing a package to a Euro on presentation of the electoral map duly stamped &quot;says Medhi Kerbati, director of the tourist office. Obviously, he had to get up early to vote at a time and enjoy a sunny day of skiing. The Director welcomes further: &quot;In 2007, we sold between 300 and 350 pass the same day, while on Sunday we have been almost 4,000 packages a day, including 2800 &#39;skipass citizens&#39;.&quot; Therefore a boon to the small station with 90 km tracks. It would be even one of the best days of the season.  </p>
<p> Discounts or freebies appreciated
<p> In Roubaix (North), fast food Burger Food Familiy partnered with the association &quot;Brigade civic action&quot; to grant 10% discount for two rounds of elections, upon presentation of the electoral map stamped. The manager, Ahmed Meguedmi, was very satisfied with the effects of operation: &quot;We found that customers who were not usually crossed our doors, especially young people, but our clientele is 80% family time normal. On April 22, traffic on our restaurants increased by 30-40% compared to other Sundays, &quot;he says. An approach more citizen when one remembers that Roubaix had obtained the record abstention in the first round of regional elections in 2010, over 71%. In the first round of this year&#39;s presidential, abstention remained high at 31.43%. </p>
<p> In the wake of the fight against abstention, in Arles and Aix-en-Provence (Bouches-du-Rhone), the taxi company and Co-bikes Taco has offered to the two rounds of elections free transport customers to their polling station. Was free from 8h to 13h, and the operation has been very positive as explained Aldric Monteux, co-manager of the company: &quot;We were able to combine a citizen but also environmentally friendly, while trying to reduce the abstention. We have carried twenty, or forty trips. This was especially the elderly or people then cut transport, which would probably not displaced. &quot;  </p>
<p> Campaigns sometimes left fallow
<p> Another tourist office, that of Les Sables d&#39;Olonne (Vendee), capitalized on an extended operation on the four weekends of presidential and legislative elections, of offering a third night for people who have established an attorney. In agreement with a dozen providers, the business case put forward here is quite as indicated Dixte Mathieu, marketing manager of the site of the tourist office: &quot;We launched the operation on March 28 because not only the elections Presidential is a drag but tourism and more at this time we still see a drop in attendance of around 15-20%. It was a way to both promote our destination, and encourage people to vote. &quot;  </p>
<p> The only cloud on the table: because of bad weather, the impact has been almost nil, although the website of the tourist office in question recorded an increase of nearly 17,000 visits over the same period (March 24 to 23 April) compared to last year. The operation, in turn, drained 1600 visits since the beginning of the operation. </p>
<p> ALSO READ: </p>
<p> &quot;Fluoroscopy of infidelity or undecided voters strategists </p>
<p> &quot;Advertisers are mobilizing against abstention </p>
<p> &quot;Presidential: 20.53% abstention </p>
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		<title>Thousands of demonstrators march against austerity</title>
		<link>http://schulemitbiss.com/thousands-of-demonstrators-march-against-austerity/</link>
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		<pubDate>Tue, 01 May 2012 12:04:04 +0000</pubDate>
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		<description><![CDATA[ 
 Thousands of people started marching Tuesday across France to say no to them according to the austerity imposed by the European Union and call for a genuine policy of growth to five days before the second round of presidential elections. 
 Nearly 290 processions are announced by the CGT, one in the afternoon in [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Thousands of people started marching Tuesday across France to say no to them according to the austerity imposed by the European Union and call for a genuine policy of growth to five days before the second round of presidential elections. </p>
<p> Nearly 290 processions are announced by the CGT, one in the afternoon in Paris, where walkers will have been preceded by a National Front demonstration and where they will parade during a political rally organized by the outgoing president. </p>
<p> The inter-union (CFDT, CGT, FSU, UNSA and Solidaires), promises that there will be no political message on the banners of the first parades in May-but the CGT, unlike other organizations, called for &quot;beat Nicolas Sarkozy.&quot; </p>
<p> In Marseille, about 20,000 people, according to unions, protested for a parade more social than political. &quot;This gives it a special flavor, but we do not mean our demands immediate demands in the pocket,&quot; said the delegate county of the CGT, Mireille Chessa. The banner head behind which all the unions, with the exception of FO, marched, summed up this attitude. &quot;Against the austerity policies, workers united for social progress&quot; could be read. Fralib employees, who for nearly two years to oppose the closure of the last site in France to make the teas Elephant, opened the procession. </p>
<p> Holland in Nevers to honor Beregovoy
<p> About 1500 people marched in 4500 in Strasbourg and Mulhouse, according to a statement made on site by Reuters, a significant interest in Alsace, while the region is in middle of spring break and the CFDT was not involved, as organization, in the event.  </p>
<p> In Strasbourg, where employees of the truck manufacturer Caddie, in receivership, opened the parade, only a few slogans directly recalled the presidential election, as &quot;If you&#39;re against Sarkozy, clap your hands&quot;, sung by the Orchestra of the CGT. </p>
<p> In Paris, delegations from the Socialist Party and the Left Front should remain in the rear of the parade as not to hinder the trade unionists and Francois Hollande has chosen to honor Nevers (Nièvre) to Pierre Beregovoy, the Prime Minister Francois Mitterrand, who s &#39;committed suicide there exactly 19 years. </p>
<p> Union leaders see as a &quot;provocation&quot; of Nicolas Sarkozy&#39;s decision to hold its own gathering on the job after reporting since the beginning of the campaign &quot;these intermediate bodies&quot; that are the unions. </p>
<p> &quot;The first is May-workers and anyone else,&quot; said Francois Chereque Tuesday on BFM TV. The secretary general of the CFDT, which does not give instructions to vote, said the speech of Nicolas Sarkozy on the job has become &quot;unbearable.&quot; &quot;Every time there was a takeover in the history of politics on this holiday (1-May-Ed) was derived in a context of undemocratic,&quot; he said Monday in an interview published by Liberation . </p>
<p> Thibault argues for a social Europe
<p> The secretary general of the CGT, Bernard Thibault, has instead confirmed he called to vote for Francois Hollande. &quot;The CGT called to fight the current president,&quot; he said on Europe 1. &quot;I am surprised that some are surprised that a union of employees can have an opinion about the issues of a presidential election.&quot; </p>
<p> &quot;It&#39;s from the social balance sheet, economic and president of his intentions &#8211; among his first, he wants to, as the employers claimed, a reform of the definition of termination for economic reasons,&quot; that this position has was taken, he said. </p>
<p> The SGC requires a minimum wage to 1,700 euros per month and expects Francois Hollande, who has promised a big meeting with the social partners if elected on May 6 before deciding, he goes in that direction very quickly. Bernard Thibault believes that the austerity measures introduced in the European Union led the latter to the disaster and calls for a social Europe.  </p>
<p> To better themselves as &quot;unifier&quot; Nicolas Sarkozy faced with a &quot;who wants to divide&quot;, the Socialist candidate Francois Hollande has sent a letter to leaders of the five confederations. He reiterated his promise to do major players in the next five years if they win. </p>
<p> (With Reuters) </p>
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		<title>Cadum L&#039;Oréal acquired for 200 million euros</title>
		<link>http://schulemitbiss.com/cadum-loreal-acquired-for-200-million-euros/</link>
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		<pubDate>Thu, 26 Apr 2012 03:40:05 +0000</pubDate>
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		<description><![CDATA[Presidential in major cities Paris &#124; Leeds &#124; Lyons &#124; Toulouse &#124; Leeds &#124; Sheffield &#124; Liverpool &#124; Bordeaux &#124; Lille 
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			<content:encoded><![CDATA[<p>Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille </p>
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		<title>Threatened with bankruptcy, sells Espanyol players</title>
		<link>http://schulemitbiss.com/threatened-with-bankruptcy-sells-espanyol-players/</link>
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		<pubDate>Sun, 22 Apr 2012 20:56:06 +0000</pubDate>
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		<description><![CDATA[ 
 So that was played Saturday night clasico the FC Barcelona-Real Madrid, it&#39;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 [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> So that was played Saturday night clasico the FC Barcelona-Real Madrid, it&#39;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 <a href="http://payday-loans-cheap.com">instant payday loan</a><!-- . -->. For RCD Espanyol, it&#39;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. </p>
<p> Fiscal austerity
<p> Ramon Conde, head of the Catalan club and &quot;Merkel football&quot;</p>
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		<title>The end of the euro drawn by a boy of 10 years</title>
		<link>http://schulemitbiss.com/the-end-of-the-euro-drawn-by-a-boy-of-10-years/</link>
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		<pubDate>Wed, 04 Apr 2012 11:24:03 +0000</pubDate>
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		<description><![CDATA[ 
 Organize the output of Greece in the euro area, child&#39;s play? Almost, in 
 The end of the euro in a diagram, seen by Hurre Hermans, 11 years No teletrack payday loans.
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			<content:encoded><![CDATA[<p> 
<p> Organize the output of Greece in the euro area, child&#39;s play? Almost, in </p>
<p> The end of the euro in a diagram, seen by Hurre Hermans, 11 years <a href="http://payday-z.com">No teletrack payday loans</a><!-- . -->.</p>
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		<title>A liter of unleaded 95 exceeds two euros in Paris</title>
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		<pubDate>Wed, 14 Mar 2012 16:20:03 +0000</pubDate>
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		<description><![CDATA[ 
 As announced by the boss of Total, Christophe de Margerie, gasoline now costs more than two euros. According to the website carbeo.com, the unleaded 95 cost 2.02 euros in the service station Saint-Antoine in the 4th arrondissement of Paris. This is the first time this symbolic threshold is crossed.  
 At the national level, prices [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> As announced by the boss of Total, Christophe de Margerie, gasoline now costs more than two euros. According to the website carbeo.com, the unleaded 95 cost 2.02 euros in the service station Saint-Antoine in the 4th arrondissement of Paris. This is the first time this symbolic threshold is crossed.  </p>
<p> At the national level, prices of unleaded gasoline reached new heights last week, to 1.6211 euro on average for a liter of unleaded 95 and 1.6610 for that of 98 unleaded, according to data published Monday by the Ministry of Sustainable Development. </p>
<p> Since late 2011, gasoline prices beat record after record in France, powered by a dual effect of geopolitical tensions (Iran, Nigeria &#8230;) that keep crude oil prices at very high levels, and weakening of the euro against the dollar, which boosts the cost of black gold once its converted value in the single currency. </p>
<p> A political issue
<p> Political leaders have seized the questiion. President Nicolas Sarkozy, candidate to succeed himself, had described the end of February &quot;joke&quot; blocking oil prices, a proposal by the Socialist candidate Francois Hollande, pointing out that prices are determined by a &quot;global marketplace to outside. &quot; </p>
<p> Sales of unleaded 95 represent just under 15% of French consumption of motor fuels and unleaded 98 around 5%. </p>
<p> ALSO READ: </p>
<p> &quot;The energy bill peaked in France </p>
<p> &quot;Soaring oil prices threaten the recovery again </p>
<p> &quot;We must work harder to make a full tank </p></p>
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		<title>The tone rises between the Bundesbank and the ECB</title>
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		<pubDate>Fri, 02 Mar 2012 21:56:45 +0000</pubDate>
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		<description><![CDATA[ 
 500 billion euros shake the Bundesbank. This record amount represents receivables from any bank in the euro area towards him, as they appear in the European payment system TARGET, which connects all European financial institutions. If the eurozone were to collapse, the institution of Frankfurt fears of never seeing some of that money. And [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> 500 billion euros shake the Bundesbank. This record amount represents receivables from any bank in the euro area towards him, as they appear in the European payment system TARGET, which connects all European financial institutions. If the eurozone were to collapse, the institution of Frankfurt fears of never seeing some of that money. And she considers the 17 central banks in the euro area, united in such event, unable to bear such a burden. </p>
<p> The president of the Bundesbank, Jens Weidmann, is to open to the President of the European Central Bank, Mario Draghi, in a letter-box was conveniently leaked this week in the German press. </p>
<p> Officially, Mr. Weidmann is concerned about the rules governing collateral, the collateral deposited by banks with central banks in exchange for cash. The conditions of acceptance of these collaterals have recently been relaxed, so that some loans to businesses are now eligible. The Bundesbank requires additional safeguards to protect against defects in cascade. </p>
<p> A preferred creditor status
<p> Jörg Krämer, chief economist at Commerzbank, the Bundesbank is &quot;within its rights&quot; to these claims. He suggests several avenues, including filing with the IMF currency or gold. &quot;Italy possesses to 134 billion euros. This would cover 70% of the charges due, &quot;says the analyst. It also proposes to give a preferred creditor status of the Bundesbank or slow injection of liquidity into insolvent countries. But the debtor countries in the majority in the Governing Council of the ECB, Mr <a href="http://us-no-fax-payday-loans.com">no fax payday loans</a><!-- . -->. Krämer does not believe that the Bundesbank will get succeed. Especially as Berlin seems rather isolated, its concerns are not shared on the French side. </p>
<p> Behind the technical aspect, this controversy reflects, politically, a further escalation in the strife between the German financial world and the ECB in managing the debt crisis. Last year, the former chief economist of the ECB, Stark, and the former head of the Bundesbank, Axel Weber, had left their positions on substantive disagreement on the path chosen, not rigorous enough in their taste. </p>
<p> Precisely, the letter of the Bundesbank was published after the new operation unlimited lending to three years of the ECB, which granted Wednesday 530 billion euros to 800 banks. Side of the Bundesbank, it is estimated that this operation initiated by Mario Draghi, who has helped stabilize financial markets, carries within it the seeds of a future crisis and could dissuade governments to continue their fiscal consolidation efforts. On the defensive, the ECB now lets hear that there will be no new loan of this kind so far as the door was open for a third operation in the spring. German Chancellor Angela Merkel indicated that she was not favorable in the state. One way to rescue the head of the Bundesbank. </p>
<p> ALSO READ: </p>
<p> &quot;The ECB continues to open wide its branches </p>
<p> &quot;Greece: Europe is finalizing a plan to more than 350 billion </p>
<p> &quot;ECB: New measures to facilitate bank credit </p>
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		<title>Sony plays with her big PS Vita</title>
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		<pubDate>Tue, 21 Feb 2012 08:36:24 +0000</pubDate>
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		<description><![CDATA[ 
 Sony, with its new portable video game console, the PlayStation Vita (Vita PS), released this week in the U.S. and Europe, plays big. The Tokyo group has difficulty in televisions and scalded online players last year due to piracy of bank cards. In addition, Sony should try to forget the limited success of the [...]]]></description>
			<content:encoded><![CDATA[<p> 
<p> Sony, with its new portable video game console, the PlayStation Vita (Vita PS), released this week in the U.S. and Europe, plays big. The Tokyo group has difficulty in televisions and scalded online players last year due to piracy of bank cards. In addition, Sony should try to forget the limited success of the PSP. Its first handheld console was &quot;to compete with the DS&quot; Nintendo. Finally, in its different versions, it sold half of PSP than DS, with respectively 75 million and 155 million units. </p>
<p> To impose its PS Vita, Sony is betting on innovation in terms of hardware and business model. Faced with the rise of smartphones, the PS Vita has a large touch screen in an advanced display (OLED) and has, on the back, a touch pad used to play. It can connect to the Internet or network of Sony PlayStation Network via Wi-Fi or a 3G mobile operator. </p>
<p> Before subsidies, it is sold between 250 euros (WiFi only) and 300 euros. In stores, Micromania began presenting to potential clients the console. </p>
<p> In addition, the sales model evolves. The PS Vita will be offered by mobile operators. It will be well funded, in part, in exchange for a commitment of subscription for mobile data, such as those proposed for internet tablets. &quot;We have signed a European agreement with Vodafone. In France, SFR will offer the console exclusive, &quot;said Philippe Cardon, the CEO of the gaming division of Sony in France. SFR should have three to six months ahead of other operators, if Orange, Bouygues Telecom and Free Mobile wanted to offer. </p>
<p> Console to a euro
<p> This is the first to launch a portable game console, even if mobile operators, TV channels, pay TV, cable operators and Internet service providers have already offered or sold at prices minimal consoles in exchange for long-term subscription to their service. SFR offers the console and at 29 euros, which includes reimbursement of 100 euros. And its price drops to 1 euro provided a subscription to 37 euros per month, with 3 GB of data included. &quot;The goal is to provide a console that will satisfy both players and allow them to? Socialize? other players who are around them, &quot;said Philippe Cardon. He added that the console will have &quot;at its output a fifty titles. A score can only be downloaded, of which 7 were developed at Sony. &quot; </p>
<p> Download, games should cost about ten dollars less than those available in store. These titles should be richer &quot;that games like Fifa for smartphones that cost 1-2 euros but have fewer features. The casual gaming (single games, Ed) smartphone and tablet is complementary to our business. It serves to broaden the gaming audience, &quot;says the head of Sony. Nevertheless, despite a score of 0.5 million PS Vita sold in Japan in less than a month, some critics ensure it takes off more slowly than the PSP. </p>
<p> ALSO READ: </p>
<p> &quot;Kazuo Hirai takes the head of Sony </p>
<p> &quot;Nintendo is converted to downloadable content </p>
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		<title>Air France: a union of three up in the strike notice</title>
		<link>http://schulemitbiss.com/air-france-a-union-of-three-up-in-the-strike-notice/</link>
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		<pubDate>Wed, 26 Oct 2011 05:04:04 +0000</pubDate>
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		<description><![CDATA[ The threat of a strike by cabin crew of Air France for the Thanksgiving holiday continues to weigh, despite progress in negotiations. One of the three unions, Unac, has indeed lifted its strike notice on Tuesday, after further management proposals. &#34;Given the achievements and progress of these negotiations, delegates from the Unac consider that [...]]]></description>
			<content:encoded><![CDATA[<p> The threat of a strike by cabin crew of Air France for the Thanksgiving holiday continues to weigh, despite progress in negotiations. One of the three unions, Unac, has indeed lifted its strike notice on Tuesday, after further management proposals. &quot;Given the achievements and progress of these negotiations, delegates from the Unac consider that we should not miss this opportunity to meet our demands,&quot; said the union. </p>
<p> But two other unions, the SNPNC-FO and UNSA-Air, have maintained their parallel strike notice, which shall commence from 29 October for three to five days. </p>
<p> Negotiations break down including the number of crew members present on long flights, medium and short haul Air France would like to reduce.However, &quot;this will place a serious case of the safety of passengers on flights of Air France,&quot; a judge of the unions representing flight attendants and stewards, the SNPNC-FO, in a statement. </p>
<p> Individualisation of pay
<p> The unions also challenge the project management to change the evaluation system flight attendants. Air France would they be judged by their purser, rather than instructors, who are former cabin crew, as is the case. </p>
<p> But the unions, particularly the UNSA-Air, fear that this reform does not lead to an individualisation of pay in lieu of the automatic promotion today. They also fear that this new mission will turn the heads of cab &quot;chefaillons.&quot;&quot;After eight hours of negotiations, management has not provided a satisfactory response to our demands,&quot; summarized the SNPNC-FO <a href="http://payday-loans-application.com">cash advance today</a><!-- . -->. </p>
<p> The social atmosphere is tense at Air France, then the group is setting up a savings plan which aims to restore its competitiveness. The priority of the airline is more than ever to fight against fierce competition from low cost airlines, said Jean-Cyril Spinetta, head Air France-KLM, in an interview to Le Monde dated Tuesday. </p>
<p> Restore competitiveness
<p> To do this, Air France opened on October 2 its first regional base in Marseilles, to serve thirty destinations. Other bases are expected to follow in Toulouse, Nice and Bordeaux in 2012, after negotiations with the unions. The opening lines of low cost flights from Marseille had required a significant reorganization of work, to achieve lower costs by 15%.</p>
<p> If negotiations prove difficult, the group has little choice. Air France KLM has lost 40% of its market value in two and a half years, and suffered a loss of 197 million euros in the first quarter of fiscal 2011-2012. Just days after replacing unexpected Pierre-Henri Gourgeon Juniac by Alexander at the head of the group, Air France &#8211; KLM is also expected to issue a warning on its results for the period April to September, announced on Tuesday morning radio BFM Business. The company declined to comment on this information. </p>
<p> ALSO READ: </p>
<p> &quot;Air France: why Spinetta ousted his heir </p>
<p> &quot;A ticket-Spinetta Juniac flying Air France </p>
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		<title>Of French investors affected by the rise of the Swiss franc</title>
		<link>http://schulemitbiss.com/of-french-investors-affected-by-the-rise-of-the-swiss-franc/</link>
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		<pubDate>Fri, 07 Oct 2011 05:16:05 +0000</pubDate>
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		<description><![CDATA[ The rise of the Swiss franc does not penalize only the inhabitants of the Helvetic Confederation. It also makes havoc among bank customers. The French Association of bank users (AFUB) has already received nearly a hundred and fifty complaints from individuals who have subscribed to loans indexed to the Swiss currency. &#34;But according to [...]]]></description>
			<content:encoded><![CDATA[<p> The rise of the Swiss franc does not penalize only the inhabitants of the Helvetic Confederation. It also makes havoc among bank customers. The French Association of bank users (AFUB) has already received nearly a hundred and fifty complaints from individuals who have subscribed to loans indexed to the Swiss currency. &quot;But according to our estimates, at least fifteen thousand people were involved across France,&quot; Serge evaluates Master, managing director of the association. Financial products attractive at first sight, but which have proved extremely costly since the flight of the franc. </p>
<p> Almost all the loans that AFUB is aware have been contracted in 2008 or 2009 with Crédit Agricole and BNP Paribas. In one third of cases, these loans were to finance the purchase of a principal residence, the others having been made in the context of a rental investment.&quot;It&#39;s BNP Paribas has been the most offensive. 70% of the loans we have studied have also been contracted to her. These banks were dangling their customers better rates, while ensuring that the franc would remain stable, &quot;said Serge Master. </p>
<p> A law in Hungary
<p> This analysis proved wrong. Safe haven in the crisis, the Swiss franc has appreciated almost 25% between early January and late summer, causing an extra cost of the same magnitude for the subscribers. With money borrowed in the range of 200,000 euros to 300,000 euros, the difference is significant. </p>
<p> If the monthly payments have not changed, the duration of loans as the amount still outstanding has increased drastically. On a forum, a client of BNP Paribas complains, for example, seeing his outstanding capital increase from 133,000 euros to 162,000 euros in the space of a year and a half.</p>
<p> Solutions seem possible, however, in each case. &quot;For three cases, the banks agreed to enter into an agreement with their client. They could exchange their loans indexed to the Swiss franc against a loan in euros. But the whole point of the negotiations is who supports the additional costs of increasing the currency of Switzerland. Banks have sometimes agreed to take half their dependents, &quot;said Serge Master. </p>
<p> In Hungary, where the phenomenon took on a different scale &#8211; two thirds of the loans are currently denominated in Swiss francs &#8211; the government took drastic measures. A recent law forced banks to exchange the loans against loans in forints, with a fixed preferential 25% below the current market rate. For banks, this measure will cost. Austrian institutions, highly established in Hungary, could include losing the order of 6 billion euros.Furious, the sector has entered the Hungarian Constitutional Court, without success. But the EU could declare the process illegal. </p>
<p> ALSO READ: </p>
<p> &quot;Hundreds of cities on the verge of bankruptcy </p>
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