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Privatization of tax collection, open to private hospitals, creating a single tax on companies by 15%: the leader of the Conservative party of New Democracy, Antonis Samaras, on Wednesday presented his recipes out of the crisis. The Leader of the Conservative party of New Democracy, Antonis Samaras.

The France of the ancien regime had its tax farmers to collect the tax in place of the state. Greece does go so far if the leader of the Conservative party of New Democracy, Antonis Samaras, came to power after the next election? Among his proposals to end the crisis, because it evokes a form of outsourcing privaisation or tax services.

"We advocate a single tax on companies by 15%, and at the same time we must ensure that there is not a crook in the system (tax, NDR). If necessary, we will use the type of private KPMG (audit firm, ie) to help us collect taxes, "said Mr. Samaras a delegation of journalists Spanish, Portuguese, French and Maltese visit Greece on the initiative of the European Commission. "We will use outsourcing services even if we also try to make public employees more competitive," said Mr. Samaras, whose party is leading the polls for upcoming elections in Greece, planned a priori in May

. Mr. Samaras reiterated that his party was committed to "submit to the policy "contained in" Memorandum "(the RAP of the economy) signed by Greece with its European partners in exchange for loans vital for the country. "We ask only a modification of certain policies to promote growth and stop the cycle of recession," he emphasized, however.

Greece is in recession for the fifth consecutive year. Questioned by the press on the responsibility of his party, in power between 2004 and 2009, in the current crisis in Greece, Mr. Samaras was rather minimized by rejecting most of the blame on the socialist party PASOK, with which He currently shares the power within the coalition government led by Lucas Papademos. "I do not mean that my party has no direct or indirect responsibilities in what took place

. We have not done some things we should have done, but PASOK did things he should not have done, "he said. "We have privatized Olympic Airways (…) but we have not privatized enough," he said, also refusing to recognize a liability for his party in the inflation of the country's public deficit in 2009.

Revision of deficit by the Socialists in 2010 (from 6% to 15% of GDP), which has crossed to Greece access to capital markets by triggering the IMF and the European Union (EU) for Rescue of the country, the subject of an intense political battle between New Democracy and PASOK. "To restore the credibility of Greece in this area, we did the right thing by appointing an independent person at the head of the statistics agency," said Secretary of State for Finance Yannis Mourmouras, this the meeting. "There is more political interference," he said. Moreover, on immigration, Mr. Samaras said he was "determined" that Greece "does not become a magnet for immigration" asking "a common policy in Europe" on the subject.

Over 80% of private creditors of Athens agreed to participate in the restructuring of the country's debt will be reduced by 107 billion euros. The agreement paves the way for the release of a new international loan which will prevent the default. Three of the four ministers of the Greek far-right party Laos opposing the new austerity measures demanded by the creditors of the countries presented their resignations Friday, February 10

Greece can heave a sigh of relief. The plan to restructure its huge debt raised almost 84% acceptance of all its private creditors, including only 85.8% of bondholders under Greek law.

Result: some 107 billion euros over the 206 billion euros of Greek debt held by banks, insurers, investment funds and pension funds will simply be deleted. A very short term, the agreement removes the risk of default since the country had to repay € 14.4 billion on March 20. It also unlocks additional European assistance than 130 billion euros that will enable it to meet its medium-term future échéanches.

If Greece has avoided a default unchecked, this rate is still insufficient compared to the 90% target that was set by the government, explaining that he had to recommend the activation of collective action clauses attached to the bonds to be exchanged.

They are forcing carriers reluctant to accept the terms of trade and should be ultimately the acceptance rate at 95.7% said the Finance Ministry statement. "The holders of approximately 172 billion euros of bonds by Greek law" have accepted the proposal made by the Hellenic Republic on February 24 to exchange their debt securities against other securities whose face value was reduced 50% said the statement.

"I wish to express my gratitude to all our creditors who supported our ambitious program of reform and adjustment and shared sacrifices of the people in its historic effort" praised the Greek Finance Minister Evangelos Venizelos said in a statement. The exchange of specific securities to be held Monday, March 12 for bonds by Greek law, but an extension until March 23 was granted to holders of non-Greek right to present their response to the proposal. This delay does not allow those who have already joined to the bid to reverse their decision.

The partners of Greece indeed want the private sector do its part in the rescue effort of the country, with a contribution sufficient to provide debt reduction to 120.5% of GDP in 2020, a ratio expected to guarantee the country's return to solvency.

Successful restructuring opens the door to the contrary release 130 billion of loans provided by the euro area in late October. These two components, debt and bailouts, make up the second bailout of the country developed its international partners, after an initial infusion of 110 billion granted in 2010.

The luxury group PPR has formalized the appointment Wednesday of Hedi Slimane as creative director of fashion house Yves Saint Laurent, Stefano Pilati where it will replace, standing ovation Monday when presenting his latest collection of scratched e YSL.

Hedi Slimane and found the house in which he led the men's fashion from 1997 to 2000, before knowing the glory at Dior.

The designer will now assume responsibility for the overall artistic YSL brand and all its collections, PPR said in a statement.

Along with these new features, Hedi Slimane continues his photographic career.

Stefano Pilati was artistic director of Yves Saint Laurent since 2004.

Like all luxury brands, YSL has signed a particularly brilliant year 2011. Its sales have taken off from 31% to 353.7 million euros and operating profit quadrupled to 41 million euros.

As with many other brands, profitability was driven by the success of its leather goods, more profitable than the loan-to-wear.

PSA Peugeot Citroën is the star of the Paris stock exchange today. Its title flies by nearly 10%, boosted by the announcement of cooperation projects and a possible alliance with General Motors. A PSA Peugeot Citroën plant in Coventry, UK.

The title of French carmaker PSA Peugeot Citroen flew Wednesday morning at the Paris Bourse, boosted by the prospect of an alliance with General Motors. At 10:10 (9:10 GMT), the value gained 9.80% to 15.80 euros and largely occupied first place in the CAC 40, which lost 0.29%. Analysts at Natixis bank have in turn raised to "buy", against "neutral" before their recommendation on the title, with a price target to 20 euros.

The French manufacturer, sentencing, said review "projects of cooperation and alliances" about which "discussions are ongoing". The site reported Tuesday LaTribune.fr advanced negotiations for a marriage with General Motors. Labour Minister Xavier Bertrand confirmed Wednesday that French was in talks with the U.S.. Florent Couvreur, analyst at CM-CIC Securities, said that PSA is among the largest European manufacturers "most isolated" and that furthermore it is difficult to generate sufficient margins in its core automotive operations. The analyst also puts forward the fact that the company Opel, GM's European subsidiary, "is in the same situation."

Analysts at Bank of America-Merrill Lynch, "the first result of such discussions is the need for both companies to improve their position in Europe where all groups except two (Renault and Volkswagen) have recorded losses in the second half 2011 ". Thus, an alliance with PSA GM "could allow these two groups of strong synergies and economies of scale", such investments and R & D (research and development), for Mr. Slater. This merger would allow PSA to benefit from the GM position in Asia and the U.S. while the U.S. would have the opportunity through the French to build on small models, explains the analyst.

"GM-PSA could be the new Fiat-Chrysler", states Mr. Couvreur, while warning against a number of uncertainties. These include the future participation of the Peugeot family, the reaction of other PSA partners (Ford on diesel engines and Toyota in the "mini cars") and whether the alliance has held a probable reduction in overcapacity Europe. Analysts at the U.S. bank, however, wonder if this alliance fear materialize and warn that PSA longer needs this merger as GM, "given its dependence on Europe and its inability to cut costs fast enough ".

Greece does not return to growth until 2014, after four years of recession that have reduced the gross domestic product (GDP) by 17%, estimated Tuesday officials the European Union.

They added that Greece should cut another 150,000 jobs and reduce labor costs by 15% within three years.

"We believe that Greece will return to growth in 2014," said one of them to the press. "We expect a contraction of 4.5% this year and stagnate in 2013. This corresponds to a contraction of more than 17% over four years."

According to these officials, the Greek minimum wage is still higher than in Spain or Portugal. Labor costs increased by over 30% in Greece over the last decade, an unparalleled growth in the euro area, according to statistics from the European Union .

To reduce debt to 120% of GDP by 2020-in accordance with the agreement reached within the Eurogroup on the night of Monday to Tuesday, against 160% currently, Athens must raise 19 billion with 35 planned privatization from 2012 to 2014.

This amount is well below the anticipated 50 billion euros in the first bailout of 73 billion euros but it is included in the second. 

The year 2014 would be if Greece would record a primary budget surplus of 4.5% of GDP and where she could return to capital markets, officials said officials.

Unemployment will start to decline until 2014 and also its rate will be the order of 17% and 15% in 2015.

The second Japanese bank, Mizuho Financial, reported Tuesday a fall of 80% of its net quarterly profit, mainly due to a decline in the value of his stock portfolio. </ p> Net income for the quarter October to December fell to 16.3 billion yen (162 million euros), against 80.3 billion yen in October and ; December 2010, according to Reuters calculations based on the results of nine months. </ p> Nikkei index falling by over 13% between April and ; December, banks have had to spend significant provisions on the value of its shares in listed companies. </ p> The results are also affected by a charge related to a change in tax law.</ P> For the year, Mizuho maintains its net profit forecast to 460 billion yen, up 11% over the period 2010-2011 while the market expects 427 billion yen, according to the consensus Thomson Reuters I / B / E / S. </ p> The first Japanese bank, Mitsubishi UFJ Financial, is to publish its results on Wednesday. </ p > <p> third Japanese bank Sumitomo Mitsui Financial Group (SMFG) said Monday net income stagnant under its third quarter. </ p> Action Mizuho has gained 17% since its low point of eight years moved in November, while the Nikkei index gained 8% at the same time. Mitsubishi UFJ Financial Group (MUFG) is up 10% and 20% of SMFG. </ P>

Equity markets have appeared hesitant and versatile throughout the session. The European equity markets ended in a disorganized, while at the same time, Wall Street also hesitated between increases and decreases.

Investors have welcomed the drop in bond yields Italian and Spanish through purchases of securities by the European Central Bank in the secondary market.

Traders also mention the idea that the ECB would lend the International Monetary Fund (IMF) to assist countries in the euro area.

But operators remain skeptical, however.

Over the past twelve months, the transactions made by Greeks reached some 250 million pounds. They seek to place their assets ç outside the country and the euro area. The London property market is relatively stable and offers a return on investment

They lag far behind Gulf investors or Russia, but the Greeks buy more properties in London, considering the British capital as a sanctuary for their fortunes away from the turmoil of the crisis that undermines their pays.Alors the Athens can abandon the single currency has been openly discussed by European leaders, some Greek citizens believe evidence that leaving their assets to their homes is far too risky, and struggle to get them out of the euro area.

London, where the real estate market is relatively stable and offers a return on investment, seems like a good alternative, according to industry experts. "The Greeks have long been on the market in central London, but after eighteen months, the number is increasing," says Liam Bailey of Knight Frank real estate agency specializing in luxury homes.

The Greeks represent 1.5% of the market

This interest was further increased in recent weeks with the deepening of the Greek crisis, confirms Richard Barber, who works at the WA Ellis agency, which specializes in upscale neighborhoods of Chelsea and Knightsbridge. "They prefer to put their money into real estate rather than first class in Greek bonds. The property market in London has a reputation as a sanctuary." The phenomenon is still embryonic.

The British authorities to fight against fraud are currently reviewing certain transactions by Deutsche Bank and Goldman Sachs, the Financial Times reported Monday.

The daily said that the investigation is part of a collection of evidence to determine whether certain financial institutions have fraudulently presented some financial stocks to their customers and counterparties is misleading.

The Serious Fraud Office (SFO) UK has spent the last two years to focus on sales of bonds backed by home loans (ABS) and their possible role in the financial crisis of 2008-2009.

Monday, fifteen minutes after the opening, the action Deutsche Bank lost 5.5% to 24.59 euros.The European sector index banks lost 3.31% to him, in reaction to the fact that the U.S. federal agency oversight of mortgage loans (Federal Housing Finance Agency, or FHFA) filed a complaint Friday against 17 major financial institutions for losses relating to bonds linked to subprime.

Deutsche Bank is already covered since Friday by a complaint from the U.S. federal agency oversight of mortgage (FHFA), which accuses 17 major international financial institutions for a total loss of $ 41 billion in bonds linked to subprime These loans granted without regard to the resources of borrowers.

Goldman Sachs, Bank of America, JP Morgan Chase or Societe Generale are among the other banks involved.

According to the FT, the British SFO also examines transactions Goldman Sachs, which said the file Timberwolf, an ABS fitted by the bank in 2007 and that U.S. authorities are also interested.

The SFO has not yet opened a formal investigation but has appealed for witnesses.

Neither Deutsche Bank nor Goldman Sachs were not immediately available for comment on the report.

Italy must complete structural reforms and implement the commitment made last month to reduce the deficit and make the economy more flexible, wants the President of the European Central Bank Jean-Claude Trichet.

In an interview published Friday by the financial daily Il Sole 24 Ore, the chairman of the ECB considers that the measures announced in Rome on August 5 is "extremely important".

Council President Silvio Berlusconi had promised then to bring the Italian budget balance for 2013.

"It is therefore essential that the stated objectives for the improvement of public finances are fully confirmed and implemented," said Jean-Claude Trichet.

The latter made no direct comment on the economic plan of 45.5 billion currently being debated in the Italian Parliament, merely to emphasize the importance of Rome to implement measures enhancing the entire national capacity in the medium and long term.

He however reiterated his call to the governments of the euro area to address the weaknesses of their economies and strengthen mutual surveillance and governance.

"The European states must correct the current situation," he said.

Asked about the prospects for creation of Euro-bonds common to all countries of the monetary union, he said that the European Financial Stability Fund (EFSF) already issued securities backed by the European authorities.

"The key message of the Board of Governors is a call for rapid implementation, full of decisions taken by Heads of State and Government of Europe July 21," said the president of the ECB.