Posts Tagged ‘company’

The Greeks in the street, an emergency meeting of EU

Thursday, February 11th, 2010

Against "unfair and ineffective sacrifices, Greek officials Wednesday manifested in big cities. A 24-hour strike was launched by the Union Public Service ADEDY, with more than 300,000 members. Employees of public protest against wage cuts announced by the Socialist government to reduce deficits and thus reassure the markets. Tuesday, Finance Minister George Papaconstantinou reiterated wage austerity measures provided for in the Public Service wage freeze, down 10% premium, 30% decrease in overtime, stoppage of recruitment in 2010, except in the sectors of health, education and security. Labor Minister, Andreas Loverdos, proposed back two years to 2015 the average age of retirement to raise it to 63 years.

In Athens, about 5,000 union members protesting in the rain in the streets, which must be added the separate gathering of 5,000 activists of the union Struggle Front (PAME), an offshoot of the ultra-orthodox communist party (KKE). In Salonika, is counting down nearly 3,000 officers pounding the pavement.

Moreover, tens of thousands of officials have answered the call to strike the ADEDY. Air traffic controllers joined the strike and there was no traffic Wednesday in Greece.

Meeting of Finance Ministers of the euro area

These events occur when the finance ministers of the eurozone plan to meet as Wednesday by teleconference to discuss the situation in Greece, several diplomatic sources.

According to Le Monde, President of the European Central Bank, Jean-Claude Trichet and the chairman of the Eurogroup forum of finance ministers from the eurozone, Jean-Claude Juncker, will join the discussions.

This meeting will be held on the eve of a summit of EU leaders on the issue in Brussels free credit report . At this stage, there is "not agree" on a plan of aid to Greece. The signs, however, a support mechanism for this country is growing. A senior parliamentary Conservative German Chancellor Angela Merkel, Michael Meister, has indicated that preparations were underway in the German Government for an assistance plan.It could take the form of housing provision of bilateral loans to certain countries of the euro area in favor of Greece, to help cope with higher prices for its cost of borrowing on the markets since the beginning of the crisis.The option of an advance payment of EU subsidies to Greece is also considered.

Papandreou lunch with Nicolas Sarkozy

Prime Minister George Papandreou, who visited on Wednesday in Paris, where he has lunch with French President Nicolas Sarkozy had called in an attempt to limit the impact of the strike, officials to "lead by example" to contribute to the crisis.

Furthermore, President Nicolas Sarkozy and Chancellor Angela Merkel Thursday held a joint press conference after the informal EU summit in Brussels, including the situation in Greece, said Wednesday the spokesman for the French government, Luc Chatel. "Under the EU summit, the president will have the opportunity to hold a joint press conference with Merkel on various subjects.I guess the question (of the situation in Greece) will be addressed, "said Luc Chatel in reporting to the press the work of the council of ministers.

"The French government is involved as its European partners on the situation of the euro and the situation in Greece in particular," he said, adding that the Economy Minister Christine Lagarde had "routine contacts with counterparts "on this issue.

GDF Suez enlist with the State

Tuesday, December 29th, 2009

Never change a winning team. GDF Suez announced Tuesday in a statement that the public contract that binds the group to the state for 2010-2013 was signed December 23. The formalization of this announcement comes a week after the Official Journal published a decree defining new rules for setting regulated prices for natural gas. "This agreement also strengthens and clarifies the conditions of tariff changes through a transparent, automatic and taking into account all costs of the company," said Gérard Mestrallet, CEO of GDF Suez.

Now, each year, the state, which holds more than 35% of GDF Suez, will set in order, the conditions of changing prices for the coming year. Then, while respecting this context, GDF Suez will propose an increase or decrease these rates."The natural gas rates will change based on costs incurred by the company to supply the final customer," the statement said. The new framework provides, inter alia, a review of annual costs out of supply (transmission, distribution, storage …) and quarterly changes in supply costs. Subsequently, these proposals will be subject to approval by the Regulatory Commission of Energy (CRE).

GDF Suez said that rising oil prices will not be reflected in the price of gas.

At mid-session, the stock price GDF Suez wins 0.90% (30.20 euros) to the Paris Bourse, where the Cac 40 in advance of 0.55%.

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Estrosi supports Proglio on remuneration

Friday, November 27th, 2009

Christian Estrosi, Minister of Industry, was set for the newly elected CEO of EDF, Henri Proglio, France 2 on the grounds of the legitimacy of his "wage request". This has indeed said Monday in the columns of the newspaper Les Echos wish to retain a level of pay similar to that which he received in private.

"If I could keep the income level I had at Veolia, it seems to me that this is not shocking in itself for a company that weighs 70 billion public offering" was well justified Henri Proglio.

Asked about the pay, Christian Estrosi said it must "show a little courage if we are to have the best captains of industry to lead our largest companies.Henri Proglio "accept new responsibilities higher" and "refers simply does not occur at a pay level lower," continued the Minister.

The debate on the remuneration of the new CEO of EDF had already been opened November 5 last, when the Minister of Economy Christine Lagarde was assured that Henri Proglio not accrue more and pay only perceive as president of 'EDF.