When it will stop the recovery will to consolidate

The approach of the G20 in Pittsburgh on September 24 and 25, Nicolas Sarkozy is in the same provision of spirit of firmness to the eve of the G20 in London in the spring: "It will not go away without results", said his entourage. On the themes under discussion, the Elysee Palace quotes bonus, accounting, securitization, "hedge funds", and the penalties for non-cooperative jurisdiction (tax havens). Single subject is admitted leaving off the table: the currency. But France "very interesting" judge the proposal of China back (DTS) special drawing rights to the taste of the day.

Optimistic about the recovery, the head of State does not believe in the scenario of a recovery in W, i.e. to a relapse, explain his advisors. The analysis is as follows: the financial crisis is over, there will be no new Lehman, and short-term positive signals are multiplying. The cause of optimism comes from just the France to two positive quarters, even though the removal continues. When it will stop, the recovery will to consolidate. Moreover, the France out better that the Germany of the recession, welcomed the Elysee Palace, with a growth of 0.8 in 2010, according to the OECD and the IMF, against a still negative figure for our neighbour (0.3).

Catch-up

Unemployment will continue to increase, but without any need for the moment, a new device to cushion the effects. The stimulus measures, as the premium case-sensitive, must not be stopped too soon and they will have to diminish gradually, "in whistle."

This resumption cannot change nothing to the presidential will launch a "grand loan" to finance "the catch-up of the structural delays of the country", explained on the Presidency. The Elysee evokes the creation of three "foundations" for quasi-equity for SMEs, to develop renewable energy and help the universities.

The debt Other reforms carried out by the head of State were made to reduce public spending. The Elysee Palace said that the replacement of a staff member on two starting retirement will be enabled in two years and a half 100,000 the number of staff reduced. "In the crisis, cannot reduce the debt", argue the advisers of the head of the State. Rigour would lead within growth, large loan, to the inverse logic.

Cost of environmental VAT

On the carbon tax, finally, the Elysee Palace welcomes that the debate "on this central issue" has led to a national consensus. Person not in questioned the principle. Such was not the case with social VAT, another project of campaign of the candidate Sarkozy.

"Environmental VAT", as it is called to the Presidency, is now decided. The head of State would have intuitively fixed price 20 euros per tonne, but he preferred to choose explicit price of the average of the price of the market of carbon since February 2008 or 17 euros.

Regarding the cost for enterprises (1.8 billion), there is no doubt that they will be penalized, but the Elysee said their levies will be lightened from 6 to 8 billion euros by the business tax reform. They receive more compensation for the carbon tax would have been impossible to sell to the view. Households have them, no compensation in the amount of EUR 2 billion.